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Report No. : |
317022 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
CONTINENTAL FAR EAST INC |
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Registered Office : |
Continental Bldg, 3-18-9 Roppongi Minatoku Tokyo 106-0032 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
February 1965 |
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Com. Reg. No.: |
0104-01-062603 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of audio visual products, automotive parts & machine tools |
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No of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
CONTINENTAL
FAR EAST INC
Continental Far East KK
Continental Bldg, 3-18-9 Roppongi Minatoku
Tokyo 106-0032 JAPAN
Tel: 03-3583-5000 Fax: 03-3583-5008
URL: http://www.cfe.co.jp
E-Mail address: info@cfe.co.jp
Import, wholesale of audio
visual products, automotive parts & machine tools
Nil
ATSUSHI SUZUKI, PRES Kazuko Suzuki, dir
Nami Kondoh, dir Shin’ichiro Suzuki, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,282 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen
30 M
TREND SLOW WORTH Yen 213 M
STARTED 1965 EMPLOYES 25
TRADING
FIRM SPECIALIZING IN AUDIO VISUAL PRODUCTS & PARTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established by Atsushi Suzuki in order to make most of his
experience in the subject line of business.
This is a trading firm, owned and operated by the Suzuki family, for
import, export and wholesale of audio visual products & parts, automotive
parts & machine tools, other.
Clients include broadcasting companies, studios, TV companies, other
professionals.
Financial
are only partially disclosed as is the case with family-based companies.
The
sales volume for Sept/2014 fiscal term amounted to Yen 1,282 million, a 4% down
from Yen 1,331 million in the previous term.
The operations came back to profitability to post Yen 2 million net profit,
compared with Yen 6 million net losses a year ago.
For
the current term ending Sept 2015 the profit is projected at Yen 5 million, on
a 5% rise in turnover, to Yen 1,350 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 23.7 million, on 30 days normal terms.
Date Registered:
Feb 1965
Regd No.: 0104-01-062603
(Tokyo-Minatoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 60,000
shares
Sum: Yen
30 million
Major
shareholders (%): Atsushi Suzuki (50), Kazuko Suzuki
(10), Nami Kondoh (10)
No. of shareholders: 6
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales audio visual equipment & products (studio
monitors, loud speakers, other), automotive parts & components, machine
tools, others (--100%)
Clients: [Broadcasting
firms, mfrs, wholesalers] NHK, Victor Arcs Co, Covalent Sales Corp, Xebex Inc,
JVC Kenwood, Nippon Columbia Co, Sony PCL, TBS TV, Victor Arks, TBS Asahi,
Hibino Imagineering, Nissan Motor, her
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Dolby Laboratories, GTE, EAW, Becker Group, Zingali, other
Payment record: Slow But Correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Roppongi)
SMBC
(Akasaka)
Relations:
Satisfactory
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Terms Ending: |
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30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
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Annual
Sales |
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1,350 |
1,282 |
1,331 |
1,432 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
2 |
-6 |
3 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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213 |
211 |
217 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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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5.30 |
-3.68 |
-7.05 |
-13.21 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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0.37 |
0.16 |
-0.45 |
0.21 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/09/2015 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.36 |
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|
1 |
Rs. 91.60 |
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Euro |
1 |
Rs. 66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.