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Report No. : |
315816 |
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Report Date : |
16.04.2015 |
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) : |
31.03.2015 |
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Date of Incorporation : |
April 1982 |
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Com. Reg. No.: |
0110-01-052802 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales fabrics, yarn, clothing
for women, men, children, clothing accessories, others |
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No. of Employee : |
244 |
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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Maximum Credit Limit : |
YEN 932.2 MILLION |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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 |
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
PAYMENTS NO COMPLAINTS CAPITAL Yen
450 M
TREND SLOW WORTH Yen 4,635 M
STARTED 1982 EMPLOYES 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 term that ended Mar 2015 the net profit was
projected at Yen 650 million, on a 5% rise in turnover, to Yen 68,500
million. Final results are yet to be
released.
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 7,055,700
million, operating profit Yen 110,060 million, recurring profit Yen 236,373
million, net profit Yen 210,945 million, total assets Yen 7,994,943 million,
net worth Yen 1,551,053 million, employees 39,465, pres Fukuya Kokubu
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
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: No Complaints
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
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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68,500 |
65,000 |
80,000 |
69,488 |
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Recur.
Profit |
|
|
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|
1,727 |
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Net
Profit |
|
650 |
612 |
847 |
905 |
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Total
Assets |
|
|
19,868 |
20,965 |
24,776 |
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Current
Assets |
|
|
19,523 |
20,513 |
24,091 |
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Current
Liabs |
|
|
15,020 |
16,273 |
20,517 |
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Net
Worth |
|
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4,635 |
4,498 |
4,051 |
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Capital,
Paid-Up |
|
|
450 |
450 |
450 |
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Div.Ttl
in Million (¥) |
|
|
0.00 |
0.00 |
452 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.38 |
-18.75 |
15.13 |
1.15 |
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Current Ratio |
|
.. |
129.98 |
126.06 |
117.42 |
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N.Worth Ratio |
|
.. |
23.33 |
21.45 |
16.35 |
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R.Profit/Sales |
|
.. |
.. |
.. |
2.49 |
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N.Profit/Sales |
|
0.95 |
0.94 |
1.06 |
1.30 |
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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.62.40 |
|
|
1 |
Rs.92.15 |
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Euro |
1 |
Rs.66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
|
|
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Report Prepared
by : |
ASH |
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.