MIRA INFORM REPORT
|
Report No. : |
332412 |
|
Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
REP CO LTD |
|
|
|
|
Registered Office : |
Metarion OS Bldg 3F, 5-21-15 Higashigotanda Shinagawaku Tokyo 141-0022 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.10.2014 |
|
|
|
|
Date of Incorporation : |
Nov., 1985 |
|
|
|
|
Com. Reg. No.: |
0107-01-010501 (Tokyo-Shinagawaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import and Wholesale of Upholstery, Home Furnishings. |
|
|
|
|
No. of Employees : |
19 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
|
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 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 |
Company
Name and address
REP CO LTD
REGD NAME: KK
Rep
MAIN OFFICE: Metarion
OS Bldg 3F, 5-21-15 Higashigotanda Shinagawaku Tokyo 141-0022
JAPAN
Tel: 03-5423-2211 Fax: 03-5423-3070
URL: N/A
ACTIVITIES
Import, wholesale of
upholstery, home furnishings from India
BRANCHES
India (Furnishing
India Pte Ltd)
OFFICER(S)
TSUNEHIKO UTSUGI,
PRES
Chizuru Utsugi,
dir
Masakatsu Goto, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 600 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 15 M
TREND SLOW WORTH Yen 105 M
STARTED 1985 EMPLOYES 19
COMMENT
IMPORTER AND
WHOLESALER OF UPHOLSTERY.
FINANCIAL
SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
The subject
company was established by Tsunehiko Utsugi in order to make most of his
experience in the subject line
of business. This is a trading firm for import and wholesale of table cloths, linens,
curtains, rugs & carpets, other home furnishings, all of cotton fabrics. 99% of the products are imported from
subcontracted mfrs in India, where the subject firm has a purchasing
office. Clients include major specialty
chain stores, department stores, including catalog sales firms, etc.
FINANCIAL
INFORMATION
Financials are
only partially disclosed.
The sales volume
for Oct/2014 fiscal term amounted to Yen 600 million, a 28% down from Yen 830
million in the previous term. The
operations plunged in the deficit to post Yen 5 million net losses for the
term, compared with Yen 2 million net profit a year ago.
For the current
term ending Oct 2015 the net profit is projected at Yen 5 million, on a 33%
rise in turnover, to Yen 800 million.
Demand increased and imports will rose.
The financial situation
is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 11.8
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Nov 1985
Regd
No.: 0107-01-010501
(Tokyo-Shinagawaku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,240 shares
Issued: 310 shares
Sum:
Yen 15.5 million
Major
shareholders (%): Tsunehiko Utsugi (30), and families
No.
of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales cotton-fabric table cloths, kitchen linen, curtains, rugs &
carpets, other upholstery & home furnishings (--100%).
Goods are subcontracted mfg to overseas makers; 99% of the goods are
imported from India.
Clients: [Chain stores,
mail-order houses, department stores] Passport, Bals Corp, Catalog House,
Sazaby League, Asplund, Aeon Corp, Ryohin Kikaku, Aeon Retail, Tokyu Hands,
Nafco Corp, Loft Co, Pal Co, other.
No. of accounts: 500
Domestic areas of activities: Centered in
greater-Tokyo
Suppliers: [Mfrs,
wholesalers] All India Handroom Corp (India), King Look (Taiwan), Rep
Furnishing India, other from China, etc.
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
MUFG (Gotanda)
SMBC (Gotanda)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/10/2015 |
31/10/2014 |
31/10/2013 |
31/10/2012 |
|
Annual
Sales |
|
800 |
600 |
830 |
780 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
5 |
-5 |
2 |
-1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
105 |
110 |
108 |
|
Capital,
Paid-Up |
|
|
15 |
15 |
15 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
33.33 |
-27.71 |
6.41 |
20.00 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
.. |
|
N.Profit/Sales |
|
0.63 |
-0.83 |
0.24 |
-0.13 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/10/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.