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Report No. : |
299849 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
HAKODATE MAJIMA CO., LTD. |
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Registered Office : |
17-11, Matsukage-cho, Hakodate-shi, Hokkaido 040-0003 |
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Country : |
Japan |
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Date of Incorporation : |
27.12.1957 |
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Com. Reg. No.: |
4400-01-001755 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trader and Service provider of Motorcycle, automobile, small boat and water bike |
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No. of Employee : |
34 |
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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Maximum Credit Limit : |
US$ 75,000 |
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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) |
|
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 |
HAKODATE MAJIMA
CO., LTD.
Country: Japan
Company name: HAKODATE MAJIMA CO., LTD.
Name in local language: HAKODATE
MAJIMA K.K. (函館マジマ株式会社)
Office address: 17-11,
Matsukage-cho, Hakodate-shi, Hokkaido 040-0003
Office tel: 0138-51-4686
Office fax: 0138-51-9456
Website: www.hakodate-majima.co.jp
Business type: Trader/Service
Industry: Motorcycle,
automobile, small boat and water bike etc.
Established: December 27, 1957
Capital: Jp.
20,000,000 yen
Employees: 34
Corporate formation: Private
Corporation No.: 4400-01-001755
(Hakodate Legal Affairs Bureau)
Paid in capital : Jp.
20,000,000 yen
Number of authorized shares : 960
shares
Shares issued : 400
shares
Number of shareholder : 4
Name of
shareholders Number of shares (%)
----------------------------------------------------------------------------------------------------------
Mr. Masaaki Majima, president 205 shares (51.3)
Mr. Masahiko Majima, senior managing director 172 shares (43.0)
Ms. Yasuko Majima, managing director
20 shares ( 5.0)
Ms. Noriko Majima, auditor 3 shares ( 0.7)
----------------------------------------------------------------------------------------------------------
Total
400
shares (100.0)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Motorcycle
Trading Automobile
Trading Water bike
Trading Small
boat
Service Rental
bike
Service Repair
work
President Mr. Masaaki Majima
Nationality: Japan
Senior Managing Director Mr.
Masahiko Majima
Nationality: Japan
Managing Director Ms. Yasuko Majima
Nationality: Japan
Director Mr. Kozo
Majima
Nationality: Japan
Nationality: Japan
Auditor Ms. Noriko
Majima
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Masaaki Majima
President and representative director
Born on July 22, 1950
Home address: 17-11, Matsukage-cho, Hakodate-shi, Hokkaido
(This is also the
registered address.)
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2008 |
1,006,658,000 |
1,308,000 |
|
2009 |
1,065,178,000 |
4,456,000 |
|
2010 |
1,137,000,000 |
4,000,000 |
|
2011 |
1,175,000,000 |
3,000,000 |
|
2012 |
1,270,000,000 |
3,000,000 |
|
2013 |
1,234,000,000 |
7,000,000 |
*Book Closing*
============
September 30th
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
*Bank Details*
============
Bank Name : Esashi Shinkin Bank
Branch : Hakodate
Bank Name : Hokkaido Bank, Ltd.
Branch : Hakodate
*Credit Opinion*
=============
Subject is a local firm, located in Hakodate, Hokkaido, northernmost
island of the nation, originally started selling bicycles, but now diversified
into various types of motor vehicles.
A steady growth has continued for years and net income jumped up
recently.
Although the exact financial condition is not available due to
non-disclosure of its financial statement, there would be a certain amount of
retained earnings and some real estate and properties, judging from the history
section.
The market of Hokkaido is one of the toughest ones as the population has
been diminishing for years.
Our standard suggestion would be up to US$ 75,000 on terms of 90 days.
*Main Products & Services*
======================
Retailing of the following items:
-
Motorcycle
-
Bicycle
-
Automobile
-
Boat
-
Water
bike
-
Related
electronic equipment
Services:
-
Insurance
agency
-
Repair
work of the above items
-
Rental
and leasing service
Operating six shops and one occasional sales site in Hakodate City
*Address*
=========
Registered address is the same as the operational address.
Registered address is also the residence of the president.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
March 1948 Started business of bicycle.
December 27,
1957 Incorporated
under the name of “Majima Jitensha(Bicycle) Shokai Co., Ltd.” with an
investment of JPY 700,000.
December
1977 Took the current company name and increased the capital to JPY 4
million.
September 1988 Started selling Harley Davidson.
November 1989 Increased the capital to JPY 12 million.
September 1991 Founded a subsidiary, Majima Corporation
with an investment of JPY 5 million.
March 1993
Increased the capital to
JPY 20 million. Completed the head office building with five stories.
April 2000 Became an authorized dealer of Suzuki
compact cars.
April 2009 Became
an authorized dealer of Triumph. Started rental business.
*Suppliers*
==========
Suzuki Motor Corp.
Kawasaki Motors Japan Ltd.
Yamaha Motor Corp.
Harley Davidson Japan K.K.
Triumph Japan K.K.
*Customers*
==========
General public
Company name: Majima Corporation
Country: Japan
Status: Subsidiary
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.84 |
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|
1 |
Rs.93.26 |
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Euro |
1 |
Rs.71.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.