MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIWORLD CO LTD |
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Registered Office : |
72 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1999 |
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Com. Reg. No.: |
1700-01-007438 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of working clothes, gloves, shoes, safety shoes, caps,
farm clothes |
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No. of Employees |
11 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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.
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Source
: CIA |
Company name and address
UNIWORLD CO LTD
REGD NAME: KK
Uniworld
MAIN OFFICE: 72
Chida Arita City Wakayama-Pref 649-0813
Tel:
0737-82-0663 Fax: 0737-82-0661
*.. The is its Operation
& Distribution Centers
URL: http://www.uniworld.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of working
clothes, gloves, shoes, safety shoes, caps, farm clothes, other
BRANCHES
Nil
OVERSEAS
China, Bangladesh
FACTORIES
Bangladesh, China
(JV factory)
OFFICERS
MASAFUMI EGAWA,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,200 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 90 M
TREND UP WORTH Yen 1,047 M
STARTED 1999 EMPLOYES 11
COMMENT
MFR OF WORKING CLOTHES, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Masafumi Egawa in order to make
most of his experience in the subject line of business. This is a trading firm, with mfg division,
for import and wholesale of working clothes, farm clothes, working gloves,
safety shoes, caps, other. Started mfg
rubber & leather gloves at subcontract factory in China, and in Jan 2008
founded a JV factory thereat. In Dec
2011 completed a factory in Bangladesh, and production started there. Goods are imported from these factories. .
FINANCIAL INFORMATION
Financials are disclosed only partially.
The sales volume for Mar/2014 fiscal term amounted to Yen 2,200 million,
a 5% up from Yen 2,092 million in the previous term. Production increased in Bangladesh. The net profit was posted at Yen 175 million,
compared with Yen 172 million a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen
180 million, on a 5% rise in turnover, to Yen 2,300 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
REGISTRATION
Date Registered:
Apr 1999
Regd No.:
1700-01-007438 (Kanagawa-Atsugi)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7,200 shares
Issued: 1,800 shares
Sum: Yen 90
million
Major
shareholders (%): Masafumi Egawa (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: A trading firm, with
mfg division, for import and wholesale of: working clothes, farm clothes,
working gloves, caps, working shoes, safety shoes, other (--100%)
Products are manufactures at factories in
Bangladesh (subsidiary) and China (JV factory).
Clients: [Mfrs, wholesalers]
Toei Co, Ono Corp, Kita Co, Motoe Co, Hamure Co, other
No. of accounts:
300
Domestic areas of
activities: Centered in the greater-Osaka
Suppliers: [Mfrs,
wholesalers] Imports from Bangladesh & China.
Domestically: Kita Co, Ono Corp, Sokaido Corp,
other
Payment record: No complaints
Location: Business area in
Arita, Wakayama-Pref. Office premises at
the caption address are owned and maintained satisfactory.
Bank References:
MUFG (Wakayama)
Kinokuni Shinkin
Bank (Minoshima)
Relations: Satisfactory
FINANCES
(In Million
Yen)
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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2,300 |
2,200 |
2,092 |
1,834 |
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Recur.
Profit |
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.. |
.. |
210 |
.. |
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Net
Profit |
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180 |
175 |
172 |
170 |
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Total
Assets |
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N/A |
1,219 |
1,022 |
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Net
Worth |
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1,047 |
872 |
700 |
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Capital,
Paid-Up |
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90 |
90 |
90 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.55 |
5.16 |
14.07 |
18.32 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
71.53 |
68.49 |
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N.Profit/Sales |
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7.83 |
7.95 |
8.22 |
9.27 |
Notes: Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.19 |
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1 |
Rs.98.65 |
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Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
-- |
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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.