|
Report No. : |
326377 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
WILL CORORATION LTD |
|
|
|
|
Registered Office : |
1712 Nakanoshima Wakayama City Wakayama-Pref 640-8392 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
July 1987 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Imports, exports and wholesales industrial chemicals: synthetic
resins, dyestuffs, pigments, others (--100%) |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
|
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 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.
|
Source
: CIA |
WILL CORORATION
LTD
REGD NAME: KK Will Corporation
MAIN OFFICE: 1712 Nakanoshima Wakayama City Wakayama-Pref
640-8392 JAPAN
Tel:
073-423-0105 Fax: 073-423-0090
URL: N/A
ACTIVITIES: Trading firm for import, export and
wholesale of industrial chemicals
BRANCHES: Nil
OFFICERS: JUNSUKE NAGAOKA, PRES
Hiroko Nagaoka,
s/mgn dir
Daisuke
Nagaoka, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES WEAK A/SALES Yen 364 M
PAYMENTS SLOW CAPITAL Yen 10 M
TREND SLOW WORTH Yen
(-) 167 M
STARTED 1087 EMPLOYES 3
COMMENT: TRADING FIRM SPECIALIZING IN INDUSTRICAL
CHEMICALS. FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE
BUSINESS ENGAGEMENTS.
This is a small sized trading firm, operated by Nagaoka family, for
import, export and wholesale of industrial chemicals: synthetic resins,
dyestuffs, pigments, other. Goods are
imported from makers in India, China and Taiwan. And 100% shipped to Hakuei & Co Ltd.
The sales volume for Jun/2014 fiscal term amounted to Yen 364 million, a
2% down from Yen 371 million in the previous term. The operations continued in the red to post
Yen 39 million recurring loss and Yen 54 million net loss for the term,
respectively, compared with Yen 15 million recurring loss and Yen 61 million
net losses, respectively, a year ago.
For the current term ending Jun 2015 the operations are projected to
come back to profitability but still limited to a minimum amount post-taxes, on
a 3% rise in turnover to Yen 375 million.
Date Registered: Jul
1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Hakuei & Co (50%), and Nagaoka families (--50)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales industrial chemicals: synthetic resins, dyestuffs, pigments,
others (--100%)
Clients: [Mfrs,
wholesalers] Hakuei Co Ltd (100%)
No. of accounts: 1
Domestic areas of activities: Limited in Wakayama-Pref
Suppliers: [Mfrs,
wholesalers] Imports from contracted makers in India, China and Taiwan.
Payment record: Slow
Location: Business area in
Wakayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Resona Bank (Wakayama)
Mizuho Bank (Wakayama)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2015 |
30/06/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
375 |
364 |
371 |
236 |
|
Recur. Profit |
|
0 |
-39 |
-15 |
|
|
Net Profit |
|
0 |
-54 |
-61 |
-54 |
|
Total Assets |
|
|
556 |
751 |
851 |
|
Current Assets |
|
|
556 |
706 |
|
|
Current Liabs |
|
|
688 |
803 |
|
|
Net Worth |
|
|
-167 |
-113 |
-51 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.02 |
-1.89 |
57.20 |
-24.12 |
|
Current Ratio |
|
.. |
80.81 |
87.92 |
.. |
|
N.Worth Ratio |
|
.. |
-30.04 |
-15.05 |
-5.99 |
|
R.Profit/Sales |
|
0.00 |
-10.71 |
-4.04 |
.. |
|
.Profit/Sales |
|
0.00 |
-14.84 |
-16.44 |
-22.88 |
Notes: Forecast (or estimated) figures for the 30/06/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.