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Report No. : |
322142 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
GOOVIN CO LTD |
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Registered Office : |
Hozan Mansion, 1-2-1 Uchimaru Hachinohe City Aomori Pref 031-0075 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2014 |
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Date of Incorporation : |
November 1980 |
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Com. Reg. No.: |
4200-01-005805 |
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Legal Form : |
Limited Company |
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Line of Business : |
Retails musical instruments (guitar as a mainline), operating 2 stores
in Aomori-Pref, also operates 2 musical classes, other (--100%) |
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No. of Employees : |
9 |
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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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 |
|
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.
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 |
GOOVIN CO LTD
KK Goovin
Hozan Mansion, 1-2-1 Uchimaru Hachinohe City Aomori Pref 031-0075 JAPAN
Tel: 0178-22-1065 Fax:
0178-45-6788
URL: http://www.goovin.jp
E-Mail address: (thru the URL)
ACTIVITIES: Retail of musical instruments, operates of
musical classes
BRANCHES: Aomori (2) (--shops)
OFFICERS: YASUO TOGAWA, PRES Shojiro Togawa, dir
Satsu Togawa, dir Atsushi
Mizunoe, dir
Eriko
Togawa, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 192 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 72 M
STARTED 1980 EMPLOYES 9
COMMENT: RETAILER OF MUSICAL INSTRUMENTS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a retailer of musical instruments (guitars as a
mainline), other. Also operates 2
musical classes. Clients include
consumers, schools, public offices, offices, other, centering in Aomori-Pref.
Financials are disclosed only partially.
The sales volume for Oct/2014 fiscal term amounted to Yen 192 million, a
4% down from Yen 201 million in the previous term. The net profit was posted at Yen 1 million,
compared with Yen 4 million a year ago.
For the current term ending Oct 2015 the net profit is projected at Yen
3 million, on a 4% rise in turnover, to Yen 200 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3.6 million, on 30 days normal terms.
Date Registered: Nov
1980
Regd No.: 4200-01-005805
(Aomori-Hachinohe)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen
10 million
Major shareholders
(%): Yasuo Togawa (100)
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Retails musical
instruments (guitar as a mainline), operating 2 stores in Aomori-Pref, also
operates 2 musical classes, other (--100%)
Clients: Consumers,
schools, municipal (public) offices, other
No. of accounts: Unavailable
Domestic areas of activities: Centered in Aomori-Pref
Suppliers: [Mfrs,
wholesalers] Yamaha Corp, Roland Corp, Kawai Musical Instruments Mfg, others
Payment record: No Complaints
Location: Business area in
Hachinohe City. Office premises at the caption
address are leased and maintained satisfactory.
Bank References:
Akita Bank (Hachinohe)
Michinoku Bank (Hachinohe)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
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31/10/2015 |
31/10/2014 |
31/10/2013 |
31/10/2012 |
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Annual Sales |
|
200 |
192 |
201 |
198 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
3 |
1 |
4 |
3 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
|
|
72 |
71 |
67 |
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Capital, Paid-Up |
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|
10 |
10 |
10 |
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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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S.Growth Rate |
|
4.17 |
-4.48 |
1.52 |
-15.74 |
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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 |
|
1.50 |
0.52 |
1.99 |
1.52 |
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.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.