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Report No. : |
308592 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1987 |
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Com. Reg. No.: |
1200-01-099766 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of diamonds,
other gem stones, jewelry products |
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No. of Employees : |
48 |
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 – December 31, 2014
|
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 |
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 |
SAKAI TRADING CO LTD
REGD NAME: Sakai
Trading KK
MAIN OFFICE: Sakai
Trading Bldg 7F, 3-3-4 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel: 06-6244-2000 Fax: 06-6252-2518
*.. Tokyo
Office at: 6-7-15 Ginza Chuoku Tokyo, as moved
URL: http://www.sakaitrd.co.jp/
E-Mail address: (thru the URL)
Import,
wholesale of diamonds, other gem stones, jewelry products
Tokyo
Bangkok
(subsidiary)
Minamisemba,
adjacent to the caption address (workshop), also subcontracted.
MISAO
SAKAI, PRES
Tomoko
Sakai, dir
Masaru
Sakai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,009 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
60 M
TREND SLOW WORTH Yen
1,895 M
STARTED 1987 EMPLOYES 48
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND JEWELRY
PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally in 1975 by Misao Sakai for wholesaling
jewelry, on his account. Incorporated
in 1987, the firm diversified its operations to become a trading house for
import and wholesale of diamonds, colored gem stones, jewelry products, others. Stones are designed and made into own branded
jewelry products. Has a purchasing
office in Bangkok, Thailand. Goods are
imported from Thailand, Israel, France, Italy, Hong Kong, China, etc.
Financials are only partially
disclosed.
The
sales volume for Mar/2013 fiscal term amounted to Yen 2,009 million, a 0.8%
down from Yen 2,025 million in the previous term. The net profit was posted at Yen 33 million,
compared with Yen 17 million net profit a year ago.
For
the term that ended Mar 2014 the net profit was projected at Yen 40 million, on
a 7% rise in turnover, to Yen 2,150 million.
Final results are yet to be released.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: May 1987
Regd No.: 1200-01-099766 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,800 shares
Issued:
1,200 shares
Sum: Yen 60 million
Major shareholders (%): Misao Sakai (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales diamonds, other gem stones, colored stones, and precious metals, pendants, necklaces, broaches, fingerings, earrings, cufflinks, other Jewelry products (--100%). Goods are imported from Thailand, Hong Kong, Israel, France, Italy, China, other.
Clients: [Jewelry processors, jewelry stores, wholesalers] First Avenue, Japan Gold, Pulsar Enterprise, Trinity, Flair Gem, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Hong Kong, Thailand, Israel, France, Italy, China, other.
Also from Itochu Corp and some other domestic suppliers.
Payment record: No complaints
Location:
Business area in Osaka. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Namba)
Eiwa
Shinkin Bank (Nishi)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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2,150 |
2,009 |
2,025 |
2,000 |
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Recur.
Profit |
|
.. |
.. |
255 |
128 |
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Net
Profit |
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40 |
33 |
17 |
13 |
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Total
Assets |
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N/A |
3,984 |
3,918 |
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Net
Worth |
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1,895 |
1,862 |
1,844 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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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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7.02 |
-0.79 |
1.25 |
4.60 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
46.74 |
47.06 |
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N.Profit/Sales |
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1.86 |
1.64 |
0.84 |
0.65 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for 31/03/2014 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.62.14 |
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1 |
Rs.95.78 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.