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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MELROSE CO LTD |
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Registered Office : |
2-18-1 Aobadai Meguroku Tokyo 153-0042 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
June 1973 |
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Com. Reg. No.: |
0132-01-005902 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, Wholesaler and Retailer of men’s & women’s clothing & accessories |
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No of Employees : |
358 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
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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 |
MELROSE
CO LTD
KK Melrose
2-18-1 Aobadai Meguroku Tokyo 153-0042 JAPAN
Tel: 03-3464-3310 Fax:
03-3476-2426
URL: http//:www.melrose.co.jp
E-mail: info@melrose.co.jp
Import, wholesale, retail of
men’s & women’s clothing & accessories
Tokyo, Yokohama, Osaka, Fukuoka, other (Tot 263), including
in-shops in department stores, supermarkets, shopping malls, other
(Subcontracted)
KAZUSHI TAKEUCHI, PRES Yuji Okusu, ch
Masao Kimura, mgn dir Jun’ichi Wakae, dir
Michiyo Okusu, dir Takanobu Moi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 19,000 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
40 M
TREND UP WORTH Yen 13,008 M
STARTED 1973 EMPLOYES 358
IMPORTER, WHOLESALER 6 RETAILER SPECIALIZING IN CLOTHING
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The
subject company was established by Yuji Okusu in order to make most of his
experience in the subject line of business.
This is a trading firm, with mfg division, for import, wholesale and
retail of clothing for men & women, including clothing accessories. Operates a total 363 shops in department
stores, shopping malls, including franchisees, other. Goods are also originally designed and
subcontracted mfg to overseas & local factories.
Financials
are only partially disclosed and in rounded-off numbers. Profits are not precisely disclosed and only
estimated.
The
sales volume for Feb/2013 fiscal term amounted to Yen 19,000 million, a 3% up
from Yen 18,400 million in the previous term.
The net profit was posted at Yen 350 million, compared with Yen 300
million a year ago. .
For
the term that ended Feb 2014 the net profit is believed posted at 370 million
as projected, on a 5% rise in turnover, to Yen 19,950 million. Final results are yet to be released.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements.
Date Registered:
Jun 1973
Regd No.: 0132-01-005902
(Tokyo-Meguroku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 320,000
million shares
Issued: 80,000
shares
Sum: Yen 40
million
Major shareholders (%): Yuji Okusu (60)
No. of shareholders: 11
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, wholesales and retails clothing and clothing accessories for men &
women (--100%). Operates a total 263
stores, including franchisees and group firms,
in-shops at department stores, shopping malls and own retailing
shops.
Goods are also originally designed & subcontracted mfg
to overseas & local factories.
Clients:
[Mfrs, wholesalers] Marui, Matsuzakaya, Au Printemps Ginza, Takashimaya,
Lumine, Aeon Mall, Mori Bldg, Odakyu Department Store, Sogo & Seibu Co,
other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Takisada Osaka, Mitsui & Co, NI Teijin Shoji, Sumikin
Bussan, Moririn Co, Takisada Nagoya, Sumitex International, other
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Ebisu)
SMBC
(Aoyama)
Relations:
Satisfactory
|
Terms Ending: |
|
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
|
Annual
Sales |
|
19,950 |
19,000 |
18,400 |
13,700 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
370 |
350 |
300 |
250 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
13,008 |
12,763 |
12,553 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
3.26 |
34.31 |
4.58 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
1.85 |
1.84 |
1.63 |
1.82 |
|
Notes: Financials are only partially disclosed. Profits are not precisely disclosed and only estimated.
Forecast (or estimated) figures for the 28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.25 |
|
|
1 |
Rs. 98.68 |
|
Euro |
1 |
Rs. 77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.