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Report No. : |
332712 |
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Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
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Name : |
PILLBOX JAPAN INC |
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Registered Office : |
Forum Bldg 5F, 2-24-11 Minami-Aoyama Minatoku Tokyo 107-0062 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
July, 2002 |
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Com. Reg. No.: |
0104-01-095232 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale and Retail of Food Supplements, Health Foods. |
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No. of Employees : |
11 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 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. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
PILLBOX JAPAN INC
REGD NAME: Pillbox
Japan KK
MAIN OFFICE: Forum
Bldg 5F, 2-24-11 Minami-Aoyama Minatoku Tokyo 107-0062 JAPAN
Tel:
03-6804-2002
URL: http://www.pillboxjapan.com
E-Mail address: ec-info@pillboxjapan.com
Import, wholesale,
retail of food supplements, health foods
Nil
USA (Parent
company, represented by David Lough)
TORU SUHARA, PRES
Sachiyo Kawamura,
dir
Masamichi
Hiramatsu, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 918 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 109 M
STARTED 2002 EMPLOYES 11
IMPORTER OF HEALTH FOODS, FOOD SUPPLEMENTS, OWNED BY PILLBOX INC USA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject
company was established by Pillbox Inc, USA, as its marketing office in
Japan. This is a trading firm for import,
wholesale and retail (online) of food supplements, health foods, beverages,
other. Goods are imported from USA parent and its group firms. Goods are
retailed online. Clients include food supplement & health food wholesalers, other.
Financial are
consolidated by the USA parent and only partially disclosed.
The sales volume
for Jun/2014 fiscal term amounted to Yen 918 million, a 28% up from Yen 716
million in the previous term. Newly
handled products fared well. Weaker Yen
contributed. The net profit was posted
at Yen 1 million, compared with Yen 4 million a year ago.
For the term that
ended Jun 2015 the net profit was projected at Yen 5 million, on a 5% rise in
turnover, to Yen 965 million. Final
results are not yet released.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
Date
Registered: Jul 2002
Regd
No.: 0104-01-095232 (Tokyo-Minatoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
2,000 shares
Issued:
2,000 shares
Sum:
Yen 100 million
Major shareholders (%): Toru Suhara (40),
Orix Investment Capital 9 (20), Mizuho Capital (10)
No.
of shareholders: 13
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Imports,
wholesales and retails (online) food supplements, health foods, beverages,
others (--100%)
Distribution Agent
for:
PIP Co, Paltac Corp, Mitsubishi Foods, Kokubu & Co, Nippon Access Inc, CFS
Corp, Coca-Cola Fine, Lawson Corp, Loft Corp, other
Clients: [Mfrs,
wholesalers, consumers] PIP Co, PIP Fujimoto Co, Costco Wholesale Japan,
Ryoshoku Ltd, Nippon Access Inc, Matsumoto Kiyoshi Co, Create SD, Loft Corp,
Coca-Cola Fine, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sankyo Co, Japan Jffy Foods Inc, Blistex Co, Paltac Corp, other
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Tokyo Tomin Bank
(Shibuya)
SMBC
(Shibuya-Ekimae)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/06/2015 |
30/06/2014 |
30/06/2013 |
30/06/2012 |
|
Annual
Sales |
|
965 |
918 |
716 |
585 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
5 |
1 |
4 |
3 |
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Total
Assets |
|
|
587 |
N/A |
N/A |
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Net
Worth |
|
|
109 |
108 |
104 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.12 |
28.21 |
22.39 |
7.54 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
18.57 |
.. |
.. |
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N.Profit/Sales |
|
0.52 |
0.11 |
0.56 |
0.51 |
Notes: Financials are only partially disclosed.
Estimated figures
for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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 |
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-- |
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.