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Report No. : |
313745 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
NORTHERN EXPRESS S.A. |
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Registered Office : |
5-3-4 Osaki, Shinagawa-ku, Tokyo 141-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2015 |
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Date of Incorporation : |
December 1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and seller of French and Italian foodstuff. |
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No. of Employee : |
44 |
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 14.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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) |
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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.
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Source
: CIA |
NORTHERN EXPRESS S.A.
REGD NAME: KK
Northern express
MAIN OFFICE: 5-3-4
Osaki, Shinagawa-ku, Tokyo 141-0032 JAPAN
Tel: 03-5487-1900 Fax: 03-5487-2788
URL: N/A
Importer
and seller of French and Italian foodstuff.
Osaka,
Nagoya
France
None
FUMINORI
ODAWARA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR
A/SALES Yen 2,400 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND STABLE WORTH Unavailable
STARTED 1988 EMPLOYES 44
TRADING
COMPANY SPECIALIZING IN IMPORT AND SALE OF FRENCH AND ITALIAN FOODSTUFF.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 14.3 MILLION, ON 30 DAYS
NORMAL TERMS.
The
subject company was established by Fuminori Odawara in order to make most of his
experience in the subject line of business.
The firm is specializing in import,and sale of French and Italian
foodstuff. Market share of importing
Truffles is No1 in Japan.
Financials are disclosed only partially.
The sales volume for July 2014 fiscal term amounted to Yen
2,400 million, a 8% up from Yen 2,205 million in the previous term. The recurring profit and net profit have not
been disclosed.
For the current term ending July 2015, similar level of turnover,
Yen 2,448 million is estimated.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 14.3 million, on 30 days normal terms.
Date
Registered: Dec 1988
Regd
No.: Unavailable
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
Unavailable
Issued:
Unavailable
Sum:
Yen 10 million
Major shareholders (%): Fuminori Odawara
No. of shareholders: 1
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Import and sale of French and Italian foodstuff. Major customers are well-known hotels and
restaurants.
Clients:
[Mfrs, wholesalers] Imperial Hotel Ltd, Okura Hotels & Resorts, New Otani
Hotels, Yokohama Royal Park Hotel, Tokyo Humania Enterprise
No. of accounts: Unavailable
Domestic areas of activities: Tokyo,
Osaka, Nagoya
Suppliers:
[Mfrs, wholesalers] French and Italian suppliers
Payment record: Slow
but correct
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactory.
Bank
References:
Mizuho Bank (Gotanda)
Risona Bank (Gotanda)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/07/2015 |
31/07/2014 |
31/07/2013 |
31/07/2012 |
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Annual
Sales |
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2,448 |
2,400 |
2,205 |
1,960 |
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Recur.
Profit |
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Net
Profit |
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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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2.00 |
8.84 |
12.50 |
4.81 |
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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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N.Profit/Sales |
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0.00 |
0.00 |
0.00 |
0.00 |
Notes:
Financials are disclosed only for sales.
Forecast
(or estimated) figures for the 31/07/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
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1 |
Rs.92.65 |
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Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
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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 |
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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.