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Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MARUBENI FASHION LINK LTD |
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Registered Office : |
Yoyogi 1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April, 1982 |
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Com. Reg. No.: |
0110-01-052802 (Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export and Wholesale of Textile, Yarn, Clothing,
Clothing Accessories. |
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No. of Employees : |
244 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
YEN 932.2 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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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 |
MARUBENI FASHION LINK LTD
REGD NAME: Marubeni
Fashion Link KK
MAIN OFFICE: Yoyogi
1-chome Bldg 4F, 1-22-1 Yoyogi Shibuyaku Tokyo 151-0053 JAPAN
Tel:
03-3370-9161 Fax: 03-3370-9130
E-Mail address: (thru the URL)
Import,
export, wholesale of textile, yarn, clothing, clothing accessories
Osaka
ATSUSHI
SAITOH, PRES Yoshio Hoden, mgn
dir
Akihiro Yamamoto, dir Yoshiyuki Matsumoto, dir
Yuji Takigawa, dir Atsushi Watanabe, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 65,000 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 450 M
TREND SLOW WORTH Yen 4,635 M
STARTED 1982 MPLOYES 244
IMPORTER
& EXPORTER OF TEXTILES, WHOLLY OWNED BY MARUBENI CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGGEMENTS.
MAX
CREDIT LIMIT: YEN 932.2 MILLION, 30 DAYS NORMAL TERMS
The
subject company was established on the basis of a textile division separated
from Marubeni Corp (See REGISTRATION). This is a trading firm for import and export
of textiles, textile goods, accessories.
In 2008, OEM operation division was transferred from the parent. Clients include major apparel mfrs,
wholesalers, other, nationwide.
Financials are consolidated by the parent, Marubeni Corp,
and only partially disclosed.
The
sales volume for Mar/2014 fiscal term amounted to Yen 65,000 million, a 19% down
from Yen 80,000 million in the previous term.
Sales declined as demand very sluggish domestically. The net profit was posted at Yen 612 million,
compared with Yen 847 million net profit a year ago.
For
the current term ending Mar 2015 the net profit is projected at Yen 650
million, on a 5% rise in turnover, to Yen 68,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 932.2 million, on 30 days normal terms.
Date Registered: Apr
1982
Regd No.: 0110-01-052802
(Tokyo-Shibuyaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 900,000 shares
Issued:
900,000 shares
Sum: Yen 450 million
Major shareholders (%):
Marubeni Corp*(100)
*.. Major general trading house,
listed Tokyo SE, founded 1949, capital Yen 262,686 million, turnover Yen
7,055,708 million, operating profit Yen 157,462 million, recurring profit Yen
236,373 million, net profit Yen 210,945 million, total assets Yen 7,150,226
million, net worth Yen 1,417,571 million, employees 39,465, pres Fukuya Kokubu
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales fabrics, yarn, clothing for women (60%), men
(20%), children (10%), clothing accessories, others (10%).
Clients:
[Mfrs, wholesalers] San-Ei International, Impact 21, Aba House International,
Value Planning, Nishimatsuya Chains, Five Foxes Co, Bay Cruise, Tomorrow Land,
Five Fox Co, other
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Takisada Osaka, Takisada Nagoya, Kyoei Iryo, Spirits,
Teijin Ltd, Toray, Sun Top, Matsuoka Trading, other.
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Yokoyamacho)
SMBC (Asakusabashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
68,500 |
65,000 |
80,000 |
69,488 |
|
Recur.
Profit |
|
|
|
|
1,727 |
|
Net
Profit |
|
650 |
612 |
847 |
905 |
|
Total
Assets |
|
|
19,868 |
20,965 |
24,776 |
|
Current
Assets |
|
|
19,523 |
20,513 |
24,091 |
|
Current
Liabs |
|
|
15,020 |
16,273 |
20,517 |
|
Net
Worth |
|
|
4,635 |
4,498 |
4,051 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.Ttl
in Million (¥) |
|
|
0.00 |
0.00 |
452 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.38 |
-18.75 |
15.13 |
1.15 |
|
Current Ratio |
|
.. |
129.98 |
126.06 |
117.42 |
|
N.Worth Ratio |
|
.. |
23.33 |
21.45 |
16.35 |
|
R.Profit/Sales |
|
.. |
.. |
.. |
2.49 |
|
N.Profit/Sales |
|
0.95 |
0.94 |
1.06 |
1.30 |
|
Return On Equity |
|
.. |
13.20 |
18.83 |
22.34 |
Notes:
Financials are only partially disclosed as from the 31/03/2010 fiscal term.
Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
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 |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.