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Report No. : |
311262 |
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Report Date : |
14.03.2015 |
IDENTIFICATION DETAILS
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Name : |
EVERNEW INC. |
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Registered Office : |
East-square Tokyo bld.6F 1-6-35 Shinsuna Kotoku Tokyo 136-0075 |
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Country : |
Japan |
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Date of Incorporation : |
1923 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing/Wholesaling of Sporting Goods and Related Items |
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No. of Employees : |
146 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 33.0 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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. Japan's industrial sector is
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 three
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. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. 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 2013 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 new
government will continue a longstanding debate on restructuring the economy and
reining in Japan's huge government debt, which is exceeding 230% 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 the year 2015.
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 |
EVERNEW INC.
KK EVERNEW
East-square Tokyo bld.6F 1-6-35 Shinsuna Kotoku Tokyo 136-0075 JAPAN
Tel: 03-3649-4611 Fax:
03-3645-1695
*.. Moved to the caption address in Nov/2012 from the one as given.
URL: http://www.evernew.co.jp/
E-Mail address: (thru the URL)
ACTIVITIES: Manufacturer and
wholesaler of sporting goods and related items
BRANCHES: Osaka
OVERSEAS: U.S.A.
CHIEF EXEC: DAISUKE IWAI, PRE;
Yen Amount: In million Yen,
unless otherwise stated
FINANCES SLOW A/SALES Yen 5,650 M
PAYMENTS UNKNOWN CAPITAL Yen
90 M
TREND STEADY WORTH UNAVAILABLE
STARTED 1923 EMPLOYES 146
COMMENT: MANUFACTURER AND
WHOLESALER OF SPORTING GOODS AND RELATED ITEMS.
FINANCIAL SITUATION COSIDERED SLOW BUT GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 33.0 MILLION, 30 DAYS NORMAL TERMS
The subject company was originally started as a store “Zoushin” by
Shinzo Iwai in 1923. He founded the company Zoushin Corporation in 1950. The
company name was changed from Zoushin Corporation to Evernew Inc.in1965. They
have been spent over 90 years for manufacturing and wholesaling various kinds
of products including swimming, track and field, athletic, fitness,
moutinaneering, camping and winter sports equipment.
The sales volume for January /2014 fiscal term amounted to Yen 5,650 million,
a 4% down from Yen 5,900 million in the previous term. The net profit amounted at minus Yen 108
million which is significant downtrend from minus Yen 36 million in 2013. The
largest factor for this trend caused of loss on sales of building owned used
for Head office.
For the current term ending March 2015,
the net profit at Yen 0 million is estimated based on the flat level of
turnover, to Yen 5,650 million. Final
results are yet to be released.
The financial situation is considered SLOW but good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 33 million, on 30 days normal terms.
Year Registered: 1923
Legal Status: Limited Company (Kabushiki Kaisha)
Sum: Yen 90 million
Major shareholders (%): Daisuke Iwai(36%), Resona Bank(5%) and others
No. of shareholders: Unavailable
Listed on the S/Exchange (s) of: None
Managements: DAISUKE IWAI, PRE; Kozo Fukuda, dir; Koji Watanabe, dir;
Shigeki Watanabe
Nothing detrimental is known as to the commercial morality of
executives.
Related companies: Evernew American
Activities:
manufacturing/wholesaling of sporting goods and related items
Clients: [Mfrs, wholesalers] Zett corp., Xanax corp., SSK corp., Asics corp.,
MIYAKO SPORTS, Mizuno corp., other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide + U.S.A.
Suppliers: [Mfrs, wholesalers] Hanyuda products Corp.,Toray Industry
Corp., Panasonic Corp., Masai Barefoot Technology, Sungho electorinics, other
Payment record: Unknown
Location: Business area in Tokyo.
Office premises at the caption address are maintained satisfactorily.
Bank References:
Resona Bank (Asakusa)
MUFG (Asakusabashi)
Relations: Satisfactory
(In Million Yen)
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Annual Sales |
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5,650 |
5,650 |
5,900 |
6,340 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
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0 |
-108 |
-36 |
30 |
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Total Assets |
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Net Worth |
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Capital, Paid-Up |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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0.00 |
-4.24 |
-6.94 |
-4.52 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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NProfit/Sales |
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0.00 |
-1.91 |
-0.61 |
0.47 |
* Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.67 |
|
|
1 |
Rs.93.16 |
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Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.