|
Report No. : |
301152 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPRANK CO., LTD. |
|
|
|
|
Registered Office : |
No. 17 Arai Bldg 2F, 1-3-3, Shinkawa Chuo-Ku Tokyo 104-0033 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Date of Incorporation : |
April 2002 |
|
|
|
|
Com. Reg. No.: |
0443-01-008154 (Funabashi-Higashifunabashi) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Exports, wholesales and retails of Japanese used cars, their parts & accessories, rendering quality maintenance services, non-life insurance agency, |
|
|
|
|
No. of Employee : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 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.
|
Source
: CIA |
TOPRANK CO., LTD.
REGD NAME: K.K.
TOPRANK
MAIN OFFICE: No.
17 Arai Bldg 2F, 1-3-3, Shinkawa Chuo-Ku Tokyo 104-0033 JAPAN
Tel: 03-6222-8338 Fax: 03-6222-8339
*.. is the Registered
Address and its Funabashi Branch Office.
URL: http://www.topranktrade.jp
E-Mail address: info@toprank.jp
ACTIVITIES: Export,
wholesale, retail of Japanese used cars, auto maintenance, nonlife
insurance agency
BRANCHES: Funabashi,
Ichikawa, Tsukuba, other (tot of 6)
OVERSEAS: Myanmar,
Sri Lanka
OFFICERS: SHINICHI
IGARASHI, PRES Mika Igarashi,
dir
Minoru
Inageda, dir Katsuji Azuma, dir
Yohei Nagai, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY:FINANCES FAIR A/SALES Yen 12,974 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND UP WORTH Yen 30 M
STARTED 2002 EMPLOYES 100
COMMENT: TRADING FIRM SPECIALIZING IN JAPANESE USED
CARS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was originally in 2000 established by Shin’ichi Igarashi,
and was incorporated in 2002. This is a
trading firm for exporting Japanese used cars, their parts, other, Including
maintenance services. Maintenance works
are done at its own factory to keep them in good quality and condition, the
importance they mostly attach to. The
firm has over 1,000 used cars in the stock, as reported. Has sales offices in Sri Lanka and
Myanmar. Goods are exported to Sri
Lanka, Myanmar, Russia, Mongolia, other.
Financials are disclosed only partially.
The sales volume for Feb/2014 fiscal term amounted to Yen 12,974
million, an 83% up from Yen 7,069 million in the previous term. Exports were robust. Used car prices were up. The net profit was posted at Yen 122 million,
compared with Yen 50 million a year ago.
For the current term ending Feb 2015 the net profit is projected at 135
million, on a 9% rise in turnover, to Yen 14,200 million. Business continues expanding and rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr. 2002
Regd No.:
0443-01-008154 (Funabashi-Higashifunabashi)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major
shareholders (%): Shin’ichi Igarashi (89), Minoru Inageda (11)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports, wholesales and retails Japanese
used cars, their parts & accessories, rendering
quality maintenance services, non-life insurance agency, other (--100%)
(Parts & accessories): Wheel tire, intake
& exhaust, engine parts, performance parts, interiors, navigation audio & security, brake,
other
Clients: [Mfrs,
wholesalers] USS, CAA, Toyota Uzec, Hanaten Co, Japan Auto Auction, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] USS, CAA, Toyota Uzec, Hanaten, Japan Auto Auction, other
Exports to: Sri Lanka, Myanmar, Russia,
Mongolia, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactory.
Bank
References:
Chiba Bank
(Funabashi Kitaguchi)
MUFG
(Funabashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
Annual
Sales |
|
14,200 |
12,974 |
7,069 |
4,734 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
135 |
122 |
50 |
22 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
198 |
106 |
71 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
9.45 |
83.53 |
49.32 |
23.44 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.95 |
0.94 |
0.71 |
0.46 |
Notes: Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.