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Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ASTY INC |
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Registered Office : |
2-15-1 Shoko Center Nishiku Hiroshima 733-8641 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
September 2006 |
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Com. Reg. No.: |
2400-01-017616 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of apparel,
bags, clothing accessories |
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No. of Employees : |
110 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World
War II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped Japan
develop a technologically advanced economy. Two notable characteristics of the
post-war economy were the close interlocking structures of manufacturers,
suppliers, and distributors, known as keiretsu, and the guarantee of lifetime
employment for a substantial portion of the urban labor force. Both features
are now eroding under the dual pressures of global competition and domestic
demographic change. Japan's industrial sector is heavily dependent on imported
raw materials and fuels. A small agricultural sector is highly subsidized and
protected, with crop yields among the highest in the world. While
self-sufficient in rice production, Japan imports about 60% of its food on a
caloric basis. For three decades, overall real economic growth had been spectacular
- a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the after effects of inefficient investment and an asset price
bubble in the late 1980s that required a protracted period of time for firms to
reduce excess debt, capital, and labor. Modest economic growth continued after
2000, but the economy has fallen into recession three times since 2008. A sharp
downturn in business investment and global demand for Japan's exports in late
2008 pushed Japan into recession. Government stimulus spending helped the
economy recover in late 2009 and 2010, but the economy contracted again in 2011
as the massive 9.0 magnitude earthquake and the ensuing tsunami in March
disrupted manufacturing. The economy has largely recovered in the two years
since the disaster, but reconstruction in the Tohoku region has been uneven.
Prime Minister Shinzo ABE has declared the economy his government's top
priority; he has overturned his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus, monetary easing, and structural reform. Japan joined the Trans
Pacific Partnership negotiations in 2013, a pact that would open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2013 stood as the fourth-largest economy
in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2012. The new government will
continue a longstanding debate on restructuring the economy and reining in
Japan's huge government debt, which is exceeding 230% of GDP. To help raise
government revenue and reduce public debt, Japan decided in 2013 to gradually
increase the consumption tax to a total of 10% by the year 2015. Japan is
making progress on ending deflation due to a weaker yen and higher energy
costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy
|
Source
: CIA |
ASTY INC
REGD NAME: KK
Asty
MAIN OFFICE: 2-15-1
Shoko Center Nishiku Hiroshima 733-8641 JAPAN
Tel:
082-278-1111 Fax: 082-178-2533
*..
The is its Tokyo Office
URL: http://www.asty.co.jp
E-Mail
address: (thru the URL)
Import,
wholesale of apparel, bags, clothing accessories
Tokyo
Hong
Kong, China, Vietnam
China,
Vietnam
SATOSHI
MIYAMOTO, PRES Saishi Kimura, ch
Seishi
Yaguchi, dir Satoshi
Yamamoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 9,467 M
PAYMENTSNo
Complaints CAPITAL Yen 100 M
TREND SLOW WORTH Yen 15,952 M
STARTED 2006 EMPLOYES 110
TRADING FIRM SPECIALIZING IN
APAREL & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company is a trading division of Yondoshi Holdings Inc (See REGISTRATION). This is a trading firm, with mfg division,
for import and wholesale of apparel, bags, other accessories. Good are manufactured at its subsidiary maker
in China, Vietnam, other. Now expanding
into other S/E countries for production.
Clients include supermarkets, apparel stores, other
The sales volume
for Feb/2014 fiscal term amounted to Yen 9,467 million, a 4% down from Yen
9,851 million in the previous term. The
recurring profit was posted at Yen 598 million and the net profit at Yen 383
million, respectively, compared with Yen 830 million recurring profit and Yen
558 million net profit, respectively, a year ago.
For the
current term ending Feb 2015 the recurring profit is projected at Yen 630
million and the net profit at Yen 400 million, respectively, on a 5% rise in
turnover, to Yen 9,950 million.
Production in Vietnam is expected to increase.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Sept 2006
Regd No.: 2400-01-017616 (Hiroshima-Nishiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
32,000 shares
Issued:
8,000 shares
Sum: Yen 100 million
Major shareholders (%): Yodobashi Holdings Inc* (100)
*.. Wholesaler of everyday wear to volume discount retailers,
Tokyo, founded 1950, listed Tokyo S/E, capital Yen 2,486 million, sales Yen
48,237 million, operating profit Yen 4,289 million, recurring profit Yen 4,883
million, net profit Yen 2,785 million, total assets Yen 55,584 million, net
worth Yen 42,479 million, employees 1,943, pres Hidenori Suzuki
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm, with mfg division, for
import and wholesale of apparel, bags, other: apparel makers (51%), wholesalers
(33%), developers (10%), others (6%)
Goods are manufactured at
overseas subsidiaries in China, Vietnam, other
Clients: [Mfrs, wholesalers] Aeon Life Corp,
Shimamura, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Taisei Seni Co,
Kawahara Seni Co, Tokyo Athly Co, other
Payment record: no
complaints
Location:
Business area in Hiroshima. Office
premises at the caption address are owned and maintained satisfactory.
Bank References:
Bank
of Hiroshima (Tokyo)
SMBC
(Shibuya-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
|
9,950 |
9,467 |
9,851 |
9,279 |
|
Recur.
Profit |
|
630 |
598 |
830 |
585 |
|
Net
Profit |
|
400 |
383 |
558 |
415 |
|
Total
Assets |
|
|
18,744 |
18,112 |
17,518 |
|
Current
Assets |
|
|
5,095 |
4,753 |
4,017 |
|
Current
Liabs |
|
|
1,244 |
1,409 |
1,580 |
|
Net
Worth |
|
|
15,952 |
15,530 |
14,912 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
18,750.00 |
9,375.00 |
17,500.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.10 |
-3.90 |
6.16 |
-2.44 |
|
Current Ratio |
|
.. |
409.57 |
337.33 |
254.24 |
|
N.Worth Ratio |
|
.. |
85.10 |
85.74 |
85.12 |
|
R.Profit/Sales |
|
6.33 |
6.32 |
8.43 |
6.30 |
|
N.Profit/Sales |
|
4.02 |
4.05 |
5.66 |
4.47 |
|
Return On Equity |
|
.. |
2.40 |
3.59 |
2.78 |
Notes:
Forecast (or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
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|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.