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Report No. : |
312971 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ASPLUND CO., LTD. |
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Registered Office : |
5F Mita43 MT Bldg, 3-13-16 Mita Minato-ku Tokyo 108-0073 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2015 |
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Date of Incorporation : |
November 1991 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is plan, import, sale of furniture, goods, kitchen
materials |
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No. of Employee : |
167 |
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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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ASPLUND CO., LTD.
REGD NAME: KK
Asplund
MAIN OFFICE: 5F
Mita43 MT Bldg, 3-13-16 Mita Minato-ku Tokyo 108-0073 JAPAN
Tel: 03-3769-0660
Fax: 03-3769-0668
URL: http://www.asplund.co.jp/
E-Mail
address: (thru the URL)
Plan,
import, sale of furniture, goods, kitchen materials, other
Nagoya,
Osaka and others (ttl 81)
None
None
YOSHIJI
SHIMAMOTO, PRES Keiichiro Yuzuta, dir
Koji Sasaki, dir Kazutaka Komori, dir
Masayuki
Kuruma, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 12,135 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 499 M
TREND SLOW WORTH Yen Unavailble
STARTED 1991 EMPLOYES 167
THE FIRM SPECIALIZING IN PLANNING, IMPORT, SALE OF
FURNITURE,
GOODS, KITCHEN MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Yoshiji Shimamoto in
order to make most of his experience in the subject line of business. The firm is specializing in planning, import,
sale of furniture for hotel, restaurant,café, other. It provide to the department store with
innovative brands and products. Its
profitability has decreased by changes in Foreign Exchange Rates in 2015.
Financials are disclosed only partially.
The sales volume for October /2014 fiscal term amounted to
Yen 12,135 million, a 8% up from Yen 11,222 million in the previous term. The net profit amounted at Yen 40 million
which has been decreased from 2013, Yen 55 million.
For the current term ending October 2015, the net profit at
Yen 41 million is estimated based on a 3% rise in turnover, to Yen 12,499
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 72.9 million, on 30 days normal terms.
Date
Registered: Nov 1991
Regd
No.: Unavailable
Legal
Status: Limited
Company (Kabushiki Kaisha)
Sum: Yen 499 million
Major
shareholders (%): Tokio Marine Capital Co., Ltd(64%), Sanae Shimamoto, Masaji Shimamoto, Yoshiji Shimamoto,
Keiichiro Yuzuta
No. of shareholders:
Unavailable
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Asplund has three business segments, Contract, Import and OEM.
Contract:
Contract
Division caters to the needs of commercial spaces such as hotels, restaurants,
cafes, as well as public spaces with a lineup of specialty furniture and
interior products. It works closely with
clients to create semi-order or fully customized pieces to match their theme
and concept.
Import
Import
Division focuses on the exclusive import and distribution of middle-to-high-end
furniture and home interior products to major retail channels such as
department stores. It will continue to
provide lifestyle products that capture the trend “half-step” ahead of our
times.
OEM
Original Equipment Manufacturing (OEM) Division is a
one-stop shop for product development customized to client needs. It provides clients with a totalized service,
ranging from concept development to merchandising, prototype development, mass
production, quality control, and to delivery management.
Clients:
[Mfrs, wholesalers] General customers (52%), Otuka Furniture, Actus, Dinos
Cecile, Mitsui Designtec, Askul, Seki Furniture, Yasuikagu and others
No. of accounts: Unavailable
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Ovearseas Suppliers (40%), Y-Yacht Co, Yamada, Mindart ,
Tanseisha, Aoyosh, Sato Shoji and others
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactory.
Bank
References:
MUFG (Shinagawa Ekimae)
Mizuho Bank (Azabu)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/10/2015 |
31/10/2014 |
31/10/2013 |
31/10/2012 |
|
Annual
Sales |
|
12,499 |
12,135 |
11,222 |
10,467 |
|
Recur.
Profit |
|
n/a |
n/a |
n/a |
n/a |
|
Net
Profit |
|
41 |
40 |
55 |
110 |
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Total
Assets |
|
n/a |
n/a |
n/a |
n/a |
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Net Worth |
|
n/a |
n/a |
n/a |
n/a |
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Capital,
Paid-Up |
|
n/a |
n/a |
n/a |
n/a |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.00 |
8.14 |
7.21 |
5.92 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
0.33 |
0.33 |
0.49 |
1.05 |
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.92.65 |
|
Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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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 |
|
<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.