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Report No. : |
304153 |
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Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
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Name : |
EMA JAPAN CO LTD |
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Registered Office : |
Kazu IT Bldg 905, 2-10-27 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
April 2001 |
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Com. Reg. No.: |
1200-01-109768 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports and wholesales polished diamonds, other gemstones and jewelry products. |
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No. of Employee : |
3 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
EMA
JAPAN CO LTD
EMA Japan KK
Kazu IT Bldg 905, 2-10-27 Minamisemba Chuoku
Osaka 542-0081 JAPAN
Tel: 06-6253-6565 Fax: 06-6253-6566
URL: N/A
Import, wholesale of diamonds,
jewelry
Nil
(Subcontracted)
TAKANORI KONDO, PRES
Hiroki Tsuchiyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 380 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 20 M
TREND UP WORTH Yen 28 M
STARTED 2001 EMPLOYES 3
IMPORTER
OF DIAMONDS & JEWELRY.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
The
subject company was established by EMA, Israel as its marketing base in
Japan. Founded in 2001, but actual
operations started in Jan 2005. Imports and
wholesales polished diamonds, other gemstones and jewelry products. Imports from Israel (EMA) and India. Stones are partially subcontracted mfg to
local jewelry processors and exported to Israel, Hong Kong, etc. Closed Tokyo Branch Office in 2008 due to
business slump, as reported. Clients are
jewelry processors, jewelry stores, wholesalers, other.
Financials are only partially
disclosed.
The sales volume for Dec/2013
fiscal term amounted to Yen 380 million, a 19% up from Yen 320 million in the
previous term. Diamond prices were up
and the weaker Yen raised selling prices in Yen terms. The net profit was posted at 2 million,
similarly in the previous term.
.
For the current term ending Dec
2014 the net profit is projected at Yen 3 million, on a 3% rise in turnover, to
Yen 390 million.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Apr 2001
Regd No.: 1200-01-109768
(Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%): EMA
(Israel) (majority owned), Takanori Kondo, Hiroki Tsuchiyama (--breakdown
unavailable)
No. of
shareholders: 3
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Imports, exports and wholesales polished diamonds, other gemstones, and jewelry
products (--100%).
Imports diamonds and other
gemstones from EMA (Israel), India, etc;
Stones are subcontracted mfg into jewelry products with the
local jewelry processors and exported to Israel, Hong Kong, other.
Clients: Jewelry processors, jewelry stores,
wholesalers, other.
Also exports to Israel, Hong Kong, etc.
No. of accounts: 100
Domestic areas of activities:
Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Imports from EMA
(Israel), India, other.
Payment record: Slow But Correct
Location: Business
area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
Resona
Bank (Midosuji)
SMBC
(Semba)
Relations:
Satisfactory.
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Terms Ending: |
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31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
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Annual Sales |
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390 |
380 |
320 |
350 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
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3 |
2 |
2 |
1 |
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Total Assets |
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151 |
N/A |
N/A |
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Net Worth |
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28 |
26 |
24 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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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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S.Growth Rate |
2.63 |
18.75 |
-8.57 |
0.00 |
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Current Ratio |
.. |
.. |
.. |
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N.Worth Ratio |
18.54 |
.. |
.. |
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N.Profit/Sales |
0.77 |
0.53 |
0.63 |
0.29 |
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Note: Financials are only
partially disclosed.
Forecast (or estimated) for the
31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.89 |
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|
1 |
Rs.93.92 |
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Euro |
1 |
Rs.72.00 |
INFORMATION DETAILS
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Analysis Done by
: |
KRN |
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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.