MIRA INFORM REPORT

Report No. :	308460
Report Date :	07.03.2015

IDENTIFICATION DETAILS

Name :	CORIANT (FINLAND) OY

Registered Office :	Sinimäentie 6, 02630, Espoo

Country :	Finland

Date of Incorporation :	21.02.2013

Legal Form :	Limited company

Line of Business :	Subject is engaged in retail sale of computers, peripheral units and software in specialised stores.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	No complaints

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)

Finland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

FINLAND - ECONOMIC OVERVIEW

Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years. Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-11, however, continued recession within the EU dampened the economy in 2012-13. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland took action to ensure it that it met the EU deficit targets in 2013 and retained its triple-A credit rating. Finland's main challenge will be to stimulate growth while faced with weak export demand in the EU and its own government austerity measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth.

Source : CIA

Coriant (Finland) Oy - 25331471 Safe Number - FI03227154

Trading Name	CORIANT (FINLAND) OY	Trade Registry Number
Company Name	CORIANT (FINLAND) OY	Business ID	25331471
Previous Name	-
Telephone Number	-	Registered Address	Sinimäentie 6, 02630, Espoo
Fax Number	-	Visiting Address	Linnoitustie 6 A 2, 02600, ESPOO
Home Municipality	Espoo	Postal Address	-, -, -
Incorporation Date	21.02.2013	Branches	1
Company Type	Limited company	Website Address
Primary Sic Code	47410	Accountant	PricewaterhouseCoopers Oy
Primary Sic Description	Retail sale of computers, peripheral units and software in specialised stores	Last Accounts Date	-
Share Capital (€)	2.500	Holding Company
Deals in importing	No	Foreign Ownership
Deals in exporting	No	Currency	EUR

Total Value of Shares	2.500
Number of Shares	100
Value of Shares

Registrations in Force

	State	Registration Date
Tax Administration	Registered	25.02.2013
Trade Register	Registered	21.02.2013
Employer Register	Registered	01.02.2013
Prepayment Register	Registered	15.02.2013
Value Added Tax-Liability	VAT-liable for business activity	01.02.2013

Payment Delays

Current Directors

Name	Carnes Jeffrey Tyler
Date of Birth	21.04.1986	Appointment Date	13.01.2015
Nationality	UNITED STATES	Function	Actual Member of Board

Name	Lavanti Mikko Tapio
Date of Birth	29.03.1967	Appointment Date	13.01.2015
Nationality	FINLAND	Function	Chairman of Board

Other Company Officials

Name	Warwick Robb Curtis
Date of Birth	14.08.1964	Appointment Date	21.02.2013
Nationality	UNITED STATES	Function	Authority to sign

Name	Bayerd Douglas Ryan
Date of Birth	04.01.1978	Appointment Date	21.02.2013
Nationality	UNITED STATES	Function	Authority to sign

Name	Savtschenko-Alexandroff Christian
Date of Birth	15.08.1966	Appointment Date	24.09.2014
Nationality	FINLAND	Function	Principal accountant

Profit & Loss

	Operating Income
	Number of weeks
	Consolidated Accounts
	Sales Revenue
	Other Operating Income
	Total Operating Income
	Wages & Salaries
	Depreciation
	Total Operating Expenses
	Operating Profit/Loss
	Result From Financial Investments
	Financial Income
	Financial Expenses
	Total Financial Investments
	Profit/Loss after Financial Items
	Extraordinary Income
	Extraordinary Expenses
	Profit/Loss Before Tax
	Tax
	Profit/Loss After Tax

Balance Sheet

	Assets
	Number of weeks
	Consolidated Accounts
	Fixed Assets
	Intangible Assets
	Tangible Assets
	Other Fixed Assets
	Total Fixed Assets
	Current Assets
	Inventories
	Trade Receivables
	Other Receivables
	Cash & Bank Balances
	Other Current Assets
	Total Current Assets
	Total Assets

Equity and Liabilities

	EQUITY
	Share Capital
	Share Premium Reserve
	Retained Earnings
	Other Reserves
	Total Equity
	LONG TERM LIABILITIES
	Long Term Liabilities to Financial Institutions
	Other Long Term Liabilities Finance
	Other Long Term Liabilities
	Total Long Term Debts
	CURRENT LIABILITIES
	Trade Payables
	Liabilities to Financial Institutions
	Other Short Term Financial Loans
	Other Short Term Liabilities
	Total Current Liabilities
	Total Liabilities
	Total Equity & Liabilities

Other Financials

	Working Capital
	Net Worth

Key Ratios


	Number of weeks
	Consolidated Accounts
	PROFITABILITY
	Net Margin %
	Operating Profit/Loss %
	Pre-Tax Profit Margin %
	TRADING PERFORMANCE
	Return on Net Assets Employed %
	Return on Total Capital %
	Interest Coverage Ratio (times)
	Return on Capital Employed %
	Return on Total Assets Employed %
	Interest on Debt %
	Risk Buffer %
	SHORT TERM LIQUIDITY
	Liquidity Ratio/Acid Test
	Current Ratio %
	Debtor Days
	Working capital
	LONG TERM LIQUIDITY
	Equity Ratio %
	Gearing %
	Current Debt Ratio
	Total Debt Ratio
	Relative debt %
	BUSINESS MEASURES
	Change in turnover %
	Turnover/employees
	Sales/Net Working Capital
	Stock Turnover Ratio %
	Creditor Days
	Equity in Percentage %

Group structure

No group structure

Linked Companies

No linked companies

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.20
UK Pound	1	Rs.94.71
Euro	1	Rs.68.60

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	ASH

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%)

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