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Report No. : |
305126 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ASADA CORPORATION |
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Registered Office : |
2-14-1 Oshiage Sumidaku Tokyo 131-0045 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
January 1974 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of steel
products (wire & strips) |
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No. of Employees : |
43 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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
|
Source
: CIA |
ASADA CORPORATION
REGD NAME: KK
Asada
MAIN OFFICE: 2-14-1
Oshiage Sumidaku Tokyo 131-0045 JAPAN
Tel: 03-3621-4111 Fax: 03-3621-4122
URL: http://www.asada-metal.com
E-Mail address: (thru the URL)
Import, export,
wholesale of steel products (wire & strips)
Chiba
Thailand, Vietnam
EITARO ASADA, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,900 M*
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND UP WORTH Yen 660 M
STARTED 1974 EMPLOYES 43
*.. Estimated only
as not precisely disclosed
TRADING FIRM SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a trading firm for import, export and wholesale
of steel products: wires & strips, piano wires, copper alloy
sheet/plates/strips, other. Actively exports
them to China, Vietnam, Thailand, other S/E Asian countries. Clients include shutter mfrs, wire mfrs,
other.
Financials are disclosed only partially.
Profits are not precisely disclosed and are only estimated.
The sales volume for Sep/2014 fiscal term are estimated amounted to Yen
3,900 million, a 3% up from Yen 3,800 million in the previous term. The net profit is believed posted at Yen 30
million, compared with Yen 25 million a year ago.
For the current term ending Sep 2015 the net profit is projected at Yen
35 million, on a 4% rise in turnover, to Yen 4,050 million. Business is seen expanding steadily
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1974
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major
shareholders (%):Eitaro Asaoka & families (--100)
No.
of shareholders: 7
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of steel products: wire & strips, piano wires,
copper alloy sheets/plates/strips, other (--100%)
Clients: [Mfrs, wholesalers]
TDK, ADVANEX Inc, Bunka Shutter Co, Yamani Spring, Mori Hatsujo Co, Hitachi
Ltd, Fujitsu Ltd, Topy Fastener Ind, Olympus Corp, other
No. of accounts:
350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Suzuki Metal Ind, Shinko Wire, Nippon Seisen, Suncall Corp, Nippon
Steel & Sumitomo Metal Corp, Shinko Stainless Wire, Fujii Seisakusyo, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
MUFG (Oshiage)
Mizuho Bank (Oshiage)
Relations: Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
|
Annual
Sales |
|
4,050 |
3,900 |
3,800 |
3,700 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
35 |
30 |
25 |
20 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
660 |
630 |
605 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.85 |
2.63 |
2.70 |
-3.90 |
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.86 |
0.77 |
0.66 |
0.54 |
Notes: Financials are only partially disclosed. Profits are not precisely disclosed and are
only estimated. The sales amount for the
30/09/2014 fiscal term is not disclosed and only estimated.
Forecast (or estimated) figures for the 30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
-- |
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.