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Report No. : |
325814 |
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Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SYNARIO INC |
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Registered Office : |
Excel TY 3F, 1-16-13 Ebisu-Minami Shibuyaku Tokyo 150-0022 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
March 2011 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Development of application software, website creation &
maintenance, others (--100%) |
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No. of Employee : |
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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Maximum Credit Limit : |
Yen 3.8 Million |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 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. The government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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 |
SYNARIO INC
REGD NAME: KK
Synario
MAIN OFFICE: Excel
TY 3F, 1-16-13 Ebisu-Minami Shibuyaku Tokyo 150-0022 JAPAN
Tel:
03-6451-2828 Fax: 03-6451-2829
E-Mail address: (thru the URL)
Development of
application software, website creation
Nil
KAZUHIKO INADA,
PRES
Tohru Mikami, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 444 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 7 M
TREND UP WORTH Yen 18 M
STARTED 2011 EMPLOYES 11
DEVELOPMENT OF APPLICATION SOFTWARE, WEBSITE CREATION.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 3.8 MILLION, 30 DAYS NORMAL TERMS
The subject company is a specialized developer of application software,
website creation & management, other. Clients include AD agencies,
communication firms, other.
The sales volume for Feb/2014 fiscal term
amounted to Yen 444 million, an 89% up from Yen 235 million for the initial
accounting term 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 3 million recurring profit and yen 1
million net profit, respectively, a year ago.
For the term that ended Feb 2015 the recurring profit was projected at
Yen 18 million and the net profit at Yen 13 million, respectively, on a 5% rise
in turnover, to Yen 465 million. Final
results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max
credit limit is estimated at Yen 3.8 million, on 30 days normal terms.
Date Registered: Mar
2011
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 560
shares
Issued: 140
shares
Sum: Yen
7 million
Major shareholders (%): Kazuhiko
Inada (50), Tohru Mikami (50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Development of application software, website
creation & maintenance, others (--100%)
Clients: [Mfrs,
wholesalers] Daiko Advertising Inc, Yomiko Advertising Inc, Beacon
Communications, Nike Japan, other
No. of accounts:
250
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Microad Inc, Cyber Agent, Digital Advertising Consortium, 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 (Aoyamadori)
Seibu Shinkin Bank
(Ebisu)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
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Annual
Sales |
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465 |
444 |
235 |
47 |
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Recur.
Profit |
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18 |
16 |
5 |
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Net
Profit |
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13 |
10 |
1 |
1 |
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Total
Assets |
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|
127 |
72 |
22 |
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Current
Assets |
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|
110 |
67 |
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Current
Liabs |
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|
76 |
52 |
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Net
Worth |
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18 |
8 |
1 |
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Capital,
Paid-Up |
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7 |
7 |
7 |
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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 |
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4.73 |
88.94 |
400.00 |
.. |
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Current Ratio |
|
.. |
144.74 |
128.85 |
.. |
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N.Worth Ratio |
|
.. |
14.17 |
11.11 |
4.55 |
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R.Profit/Sales |
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3.87 |
3.60 |
2.13 |
.. |
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N.Profit/Sales |
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2.80 |
2.25 |
0.43 |
2.13 |
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Return On Equity |
|
.. |
55.56 |
12.50 |
.. |
Notes: The 29/02/2012
is the initial accounting term since inception of the firm.
Forecast (or
estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
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|
1 |
Rs.97.10 |
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Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.