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Report No. : |
334326 |
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Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SUN ACE CO LTD |
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Registered Office : |
Komagata TC Bldg 3/4/6 F’s, 1-3-14 Komagata Taitoku Tokyo
111-0043 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2015 |
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Date of Incorporation : |
August 1975 |
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Com. Reg. No.: |
0105-01-005114 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in wholesales
advertising products, gift items, other, registered Brand Name “QUESP |
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No. of Employee : |
38 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 46.9 MILLION |
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Status : |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 first-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.
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Source
: CIA |
SUN ACE CO LTD
Sun Ace KK
Komagata TC Bldg 3/4/6 F’s, 1-3-14 Komagata Taitoku Tokyo 111-0043 JAPAN
Tel: 03-3845-5731 Fax: 03-3845-3290
E-Mail address: (thru
the URL)
Wholesale of advertising products, gift items, other
Saitama (2) (--warehouses, distribution centers)
China, other (--business partners)
MINORU SUDO, PRES Naganobu
Nagata, mgn dir
Shun’ichi Sato, dir Wataru Seki, dir
Keiko Kobayashi, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,104 M
PAYMENTS SLOW BUT
CORRECT CAPITAL Yen 40 M
TREND STEADY WORTH Yen 430 M
STARTED 1975 EMPLOYES 38
WHOLESALER
OF ADVERTISING PRODUCTS, GIFT ITEMS, OTHER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 46.9 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was
established by Kazuo Sudo in order to make most of his experience in the
subject line of business. Minoru is his
son, who took the pres office in Mar 1977.
This is a trading firm for selling advertising products, gift items,
other. Products are registered trademark
of “QUESP”. Clients include
communication firms, supermarkets, other.
The sales volume for Feb/2015
fiscal term amounted to Yen 2,104 million, a 2% down from Yen 2,139 million in
the previous term. The recurring profit
was posted at Yen 16 million and the net profit at Yen 10 million,
respectively, compared with Yen 16 million recurring profit and Yen 10 million
net profit, respectively, a year ago.
For the current term ending
Feb 2015 the recurring profit is projected at Yen 17 million and the net profit
at Yen 12 million, respectively, on a 3% rise in turnover, to Yen 2,160
million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 46.9
million, on 30 days normal terms.
Date Registered: Aug 1975
Regd No.:
0105-01-005114 (Tokyo-Taitoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 320,000 shares
Issued: 80,000 shares
Sum: Yen 40 million
Major shareholders (%): Minoru Sudo (60), and families (--40)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Wholesales advertising products, gift items, other, registered Brand Name
“QUESP”, other (--100%)
Clients:
[Mfrs, wholesalers] Chugai Pharmaceutical Co, MSD, JCB, I&S BBDO Co,
Bristol-Meyers Squibb, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] 3M Japan, Tombow Pencil, Otsuka Glass, Vess Co, Zebra Co,
Aoto Printing, Pilot Corp, other
Payment record: Slow but correct
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Asakusa)
Mizuho Bank (Asakusa)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
29/02/2016 |
28/02/2015 |
28/02/2014 |
28/02/2013 |
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Annual
Sales |
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2,160 |
2,104 |
2,139 |
2,439 |
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Recur.
Profit |
|
17 |
16 |
16 |
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Net
Profit |
|
12 |
10 |
10 |
36 |
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Total
Assets |
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|
1,154 |
985 |
967 |
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Current
Assets |
|
|
975 |
816 |
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Current
Liabs |
|
|
658 |
500 |
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Net
Worth |
|
|
430 |
420 |
407 |
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Capital,
Paid-Up |
|
|
40 |
40 |
40 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.66 |
-1.64 |
-12.30 |
8.21 |
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Current Ratio |
|
.. |
148.18 |
163.20 |
.. |
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N.Worth Ratio |
|
.. |
37.26 |
42.64 |
42.09 |
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R.Profit/Sales |
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0.79 |
0.76 |
0.75 |
.. |
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N.Profit/Sales |
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0.56 |
0.48 |
0.47 |
1.48 |
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Return On Equity |
|
.. |
2.33 |
2.38 |
8.85 |
Notes: Forecast (or estimated) figures for the 29/02/2016
fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
|
1 |
Rs.99.83 |
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Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
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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.