|
Report No. : |
354285 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DEETEX SHOKAI KK |
|
|
|
|
Registered Office : |
Muneyasu No. 2 Bldg 7F, 1-23 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
July, 1999 |
|
|
|
|
Com. Reg. No.: |
0100-01-065387 (Tokyo-Chiyodaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Export, import and wholesale of sewing machine parts, automotive
parts, other |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
DEETEX SHOKAI KK
REGD NAME: Deetex
Shokai KK
MAIN OFFICE: Muneyasu
No. 2 Bldg 7F, 1-23 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN
Tel: 03-3295-8177 Fax: 03-3295-3033
URL: N/A
Export, import,
wholesale of sewing machine parts, automotive parts, other
Nil
ATSUO YOSHIDA,
PRES
Toshihiko
Takahashi, ch
Shigeo Takahashi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 780 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 15 M
TREND STEADY WORTH Yen 62 M
STARTED 1999 EMPLOYES 2
TRADING FIRM SPECIALIZING IN SEWING MACHINE PARTS, AUTOMOTIVE PARTS,
OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the
basis of business transfer from
Deebar Shokai
KK, founded 1914. This is a trading firm specializing in export of sewing machine parts & components, automotive parts, apparel, others. Exports centrally
to India (60%), other to Indonesia,
Thailand, etc. Imports apparel from China.
Financials are only partially disclosed.
The sales volume
for Mar/2015 fiscal term amounted to Yen 780 million, an 11% up from Yen 705
million in the previous term. Exports of
automotive parts & components to India rose sharply, boosted by robust
demand in India, other. The weaker Yen
also contributed to raise
earnings in Yen terms. The net profit was posted at Yen 2 million, up from
Yen 5 million a year ago.
For the current
term ending Mar 2016 the net profit is projected at Yen 5 million, on a 5% rise
in turnover, to Yen 820 million. Demand
continues rising.
The financial situation
is considered maintained FAIR and good for ORDINARY business engagements.
Date
Registered: Jul 1999
Regd
No.: 0100-01-065387
(Tokyo-Chiyodaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,200 shares
Issued: 300 shares
Sum:
Yen 15 million
Major
shareholders (%): Atsuo Yoshida (50), Toshihiko Takahashi (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports automotive parts (aluminum alloy
stamped & pressed parts), sewing machine
parts & components (mounting fixtures, accessories), others (--90%);
imports apparel, clothing accessories, centrally from China, others (--10%).
Exports
are
centrally to India, particularly of automotive parts, other to Indonesia, Thailand, etc.
Imports from China.
Clients: [Mfrs,
wholesalers] India (60%), Indonesia, Thailand, Taiwan, China, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in
greater-Tokyo
Suppliers: [Mfrs,
wholesalers] For exports, supplied from Cosmek Co, Sankyo Oilless Ind Inc,
Matsumoto Oil & Fats (--each 10%),
Sanyo Chemical, Kanai Juyo Kogyo, Kawasaki Heavy Machinery, other.
Payment record: No complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Jimbocho)
Bank of India (Tokyo)
Relations: Satisfactory.
(In Million Yen)
|
Terms Ending: |
|
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
Annual
Sales |
|
820 |
780 |
705 |
700 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
2 |
5 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
62 |
60 |
55 |
|
Capital,
Paid-Up |
|
|
15 |
15 |
15 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.13 |
10.64 |
0.71 |
-4.11 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.61 |
0.26 |
0.71 |
0.14 |
Note: Financials are only partially disclosed.
Forecast (or
estimated) for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
|
Yen |
1 |
Rs.0.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
|
|
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.