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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NULINK CO LTD JAPAN |
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Registered Office : |
2638-50 Yamazaki Noda City Chiba-Pref 278-0022 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
October 2003 |
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Com. Reg. No.: |
0400-01-072380 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of
pharmaceutical materials, chemicals |
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
NULINK CO LTD JAPAN
REGD NAME: KK
Nulink Japan
MAIN OFFICE: 2638-50
Yamazaki Noda City Chiba-Pref 278-0022 JAPAN
Tel:
047-124-5210 Fax: 047-124-3938
URL: N/A
Import,
wholesale of pharmaceutical materials, chemicals
Nil
SUMIKO
GARUGU, PRES
Hisamaro
Garugu, ch
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 53 M
PAYMENTSSlow
CAPITAL Yen 10 M
TREND UP WORTH Yen (-) 4 M*
STARTED 2003 EMPLOYES 5
*..
Capital is increased to Yen 10 million in Apr 2014 and
The
new net worth is to be Yen 9 million.
TRADING FIRM SPECIALIZING IN PHARMACEUTICAL MATERIALS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject
company was established by Hisamaro Garugu in order to make most of his
experience in the pharmaceutical business.
He is an Indian resident, graduated from Tokyo University and worked at
Eisai Co Ltd, major pharmaceutical mfr, Tokyo.
Sumiko is his wife. This is a
trading firm specializing in import and wholesale of pharmaceuticals materials
& chemicals. Imports from India,
China, other. Clients include Eisai Co
and other pharmaceutical makers. The
firm arranged to establish a JV in May 2011 between Kokuyo Co Ltd, top-ranked
mfr of office supplies, Tokyo and Camlin Ltd, India, named Kokuyo Camlin Ltd,
capital Indian Rupee 67.9 million, Kokuyo owning 50.3% share of the JV. The firm’s net worth is negative, and the
firm increased the capital in Apr 2014 to Yen 10 million from the previous 3
million. The new net worth is to be Yen
9 million.
The sales
volume for Sept/2013 fiscal term amounted to Yen 53 million, a similar amount
in the previous term. The net profit was
posted at Yen 1 million, compared with Yen 6 million net losses a year ago.
For the
term that ended Sept 2014 the net profit was projected at Yen 3 million, on a
6% rise in turnover, to Yen 56 million.
The firm increased the capital in Apr 2014 to Yen 10 million from Yen 3
million. The new net worth is to be Yen
9 million. The final results are yet to
be released.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements.
Date Registered:
Oct 2003
Regd No.: 0400-01-072380 (Chiba-Noda)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240 shares
Issued:
200 shares
Sum: Yen 10 million (increased in Apr 2014)
Major shareholders (%): Hisamaro Garage & Sumiko Garugu
(--100)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales pharmaceutical
raw materials, chemicals (--100%)
Clients: [Pharmaceutical mfrs, wholesalers] Eisai
Co, Sawai Pharmaceutical Co, Pola Inc, other
No. of
accounts: 30
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from
India, China, other
Payment record: slow
Location: Business
area in Noda City, Chiba-Pref. Office
premises at the caption address are owned by Hisamaro Garugu as his private
home residence and maintained satisfactorily.
Bank References:
Tokyo
Bay Shinkin Bank (Edogawadai)
Bank
of China (Edogawadai)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
56 |
53 |
53 |
43 |
|
Recur.
Profit |
|
.. |
.. |
-6 |
-6 |
|
Net
Profit |
|
3 |
1 |
-6 |
-6 |
|
Total
Assets |
|
|
N/A |
60 |
51 |
|
Net
Worth |
|
9 |
-4 |
-5 |
-5 |
|
Capital,
Paid-Up |
|
10 |
3 |
3 |
3 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.66 |
0.00 |
23.26 |
13.16 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
-8.33 |
-9.80 |
|
N.Profit/Sales |
|
5.36 |
1.89 |
-11.32 |
-13.95 |
Notes: Financials are only
partially disclosed. Capital was increased
in Apr 2014 to Yen 10 million, and the net worth became positive.
Forecast
figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
|
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.