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Report No. : |
298803 |
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Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SWIFT CHEM CORPORATION |
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Registered Office : |
3-2-2, Ueno, Taito-ku, |
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Country : |
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Date of Incorporation : |
21.10.2013 |
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Com. Reg. No.: |
0105-01-035845 |
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Legal Form : |
Private limited company |
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Line of Business : |
· Import, export and sales of chemical products such as fine chemical, medial intermediate agents and dye stuff · Sales of raw materials of plastics |
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No. of Employee : |
Not Available |
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 : |
Relatively New Business |
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Payment Behaviour : |
Unknown |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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. 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 |
SWIFT CHEM
CORPORATION
Country: Japan
Company name: SWIFT CHEM
CORPORATION
Name in local language: SWIFT
CHEM, K.K.
Office address: 3-2-2, Ueno,
Taito-ku, Tokyo 110-0005
Office tel: 03-6803-0261
Business type: Trader
Industry: Chemical
products
Established: October
21, 2013
Capital: Jp. 10,000,000 yen
Employees: n. a.
Corporate formation: Private
Corporation No.: 0105-01-035845
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp. 10,000,000 yen
Number of authorized shares : 2,000
shares
Shares issued : 1,000
shares
Number of shareholder : n.
a.
The board members hold the majority. (estimated)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Chemical products
Trading Raw materials of plastics
President Mr. Hiroshi Hibino
Nationality: Japan
Director M.
Bisia Iagrawar
Nationality: n. a.
Director
M. Nima Iagrawar
Nationality: n.
a.
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Hiroshi Hibino
President and representative director since its establishment
Home address: 2-7-3-703, Yamato-cho, Nakano-ku, Tokyo
*Book Closing*
============
n. a.
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
n. a.
*Credit Opinion*
=============
The subject is a Tokyo-based new and small-sized firm specializing is
trading and sales of what they call chemical products with only 14-month
business history.
Neither trade nor financial reference has been disclosed at all.
It would be advisable to enter into any business under well-secured
conditions.
It is also too early to discuss a certain amount of a credit with the
subject even if the subject has a reliable financial background.
No recommendation for any open accounts at this moment.
*Main Products & Services*
======================
The articles of incorporation say the business plans of the subject are
as follows:
1. Import, export and sales of chemical products such as
fine chemical, medial intermediate agents and dye stuff etc.
2. Sales of raw materials of plastics.
None of the above can be specified as its mainstay item at moment.
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
October 21, 2013 Incorporated with an investment of JPY 5
million.
November 8, 2013 Two other persons than Mr. Hiroshi Hibino,
became board the members.
November 15, 2013 Increased the capital to JPY 10 million.
n. a.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.28 |
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|
1 |
Rs.98.38 |
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Euro |
1 |
Rs.76.30 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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|
|
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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.