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Report No. : |
321500 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ENTREX INCORPORATED |
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Registered Office : |
BYGS 7F, 2-19-19 Shinjuku Shinjukuku Tokyo 160-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
Jan., 1986 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale and retail of interior goods, decorations, other. |
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No. of Employees : |
281 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 185.8 Million |
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Status : |
Satisfactory |
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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) |
|
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. 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.
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Source
: CIA |
ENTREX INCORPORATED
REGD NAME: KK
Entrex
MAIN OFFICE: BYGS
7F, 2-19-19 Shinjuku Shinjukuku Tokyo 160-0022 JAPAN
Tel: 03-5368-1811 Fax: 03-5368-1802
*.. The firm moved
to the caption address and registered thereat
The Entrex Bldg is
leased to its subsidiary
E-mail Address: (thru the URL)
Import, wholesale,
retail of interior goods, decorations, other
Tokyo, Chiba,
Saitama, Yokohama, Ibaraki, other (Tot 22)
TAKANORI TADA,
PRES Ryuzo Tomoi, ch
Kazuaki Shimomura,
v pres Jun’ichi Nakamura, s/mgn dir
Akihito Kamiyama,
mgn dir Tsutomu Koshigoshi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 8,159 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 2,223 M
STARTED 1986 EMPLOYES 281
TRADING FIRM
SPECIALIZING IN INTERIOR ITEMS.
FINANCIAL SITUATION CONSIDERED FAIR AND
ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 185.8 MILLION, 30 DAYS NORMAL
TERMS.
The subject
company was established by Ryuzo Tomoi, now ch, in order to make most of his
experience in the subject line of business.
This is a trading firm, with retailing operations, for import and
wholesale of home interior goods, interior decorations, other. Operates a total 23 stores nationwide,
including some in department stores.
Wholesaling clients include chain stores, department stores, other.
The sales volume
for Aug/2013 fiscal term amounted to Yen 8,159 million, a 9% up from Yen 7,477
million in the previous term. The
recurring profit was posted at Yen 1,213 million and the net profit at Yen 714
million, respectively, compared with Yen 1,337 million recurring profit and Yen
945 million net losses, respectively, a year ago.
.
For the term that
ended Aug 2014 the recurring profit was projected at Yen 1,250 million and the
net profit at Yen 750 million, respectively, on a 4% rise in turnover, to Yen
8,450 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 185.8 million, on 30 days normal terms.
Date Registered: Jan 1986
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 20,662 shares
Issued: 5,165 shares
Sum: Yen 158,275,000.00
Major
shareholders (%): Ryuzo Tomoi (22), T & T Enterprises (13), Company’s Treasury Stock
(8)
No. of
shareholders: 57
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports,
wholesales and retails home interior goods, interior decorations, other, operating
26 stores nationwide (--100%)
Clients: [Mfrs,
wholesalers] Styling Life Holdings, Tokyu Hands, Heinz Corporation, The Loft
Co, Pulse Co, Tokyo Interior Corp, Isetan Mitsukoshi (Department Store), other
No. of accounts: 300 (Wholesales
Div)
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Sanyo Insatsu Kogei Co, Fuji Ind Co, Akatsuki BP Co, Ida Ryogokudo
Co, other.
Goods are imported.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
SMBC (Kanda)
Mizuho Bank (Iidabashi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
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Annual
Sales |
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8,450 |
8,159 |
7,477 |
6,222 |
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Recur.
Profit |
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1,250 |
1,213 |
1,337 |
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Net
Profit |
|
750 |
714 |
945 |
202 |
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Total
Assets |
|
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5,897 |
5,299 |
4,628 |
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Current
Assets |
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3,582 |
3,398 |
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Current
Liabs |
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2,760 |
1,352 |
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Net
Worth |
|
|
2,223 |
1,750 |
802 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.Ttl
in Million (¥) |
|
|
8.5 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.57 |
9.12 |
20.17 |
1.27 |
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Current Ratio |
|
.. |
129.78 |
251.33 |
.. |
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N.Worth Ratio |
|
.. |
37.70 |
33.03 |
17.33 |
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R.Profit/Sales |
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14.79 |
14.87 |
17.88 |
.. |
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N.Profit/Sales |
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8.88 |
8.75 |
12.64 |
3.25 |
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Return On Equity |
|
.. |
32.12 |
54.00 |
25.19 |
Notes: Forecast
(or estimated) figures for the 31/08/2014 Fiscal Term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
VNT |
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.