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Report No. : |
344200 |
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Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MITSUI BUSSAN INTER-FASHION LTD (MIT) |
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Registered Office : |
Hulic Aoyama Bldg 4F, 3-6-12 Kitaaoyama
Minatoku Tokyo 107-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
July 1992 |
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Com. Reg. No.: |
0104-01-056967 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in Import, export and wholesale of apparel, textile materials, fashion accessories |
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No. of Employee : |
329 |
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 |
COMPANY NAME
MITSUI BUSSAN INTER-FASHION LTD (MIT)
REGD NAME: Mitsui
Bussan Inter Fashion KK
ADDRESS
Hulic Aoyama Bldg
4F, 3-6-12 Kitaaoyama Minatoku Tokyo 107-0061 JAPAN
Tel: 03-5467-5471 Fax: 03-5467-7315
E-Mail
address: (thru the URL)
ACTIVITIES
Import,
export, wholesale of apparel, textile materials, fashion accessories
BRANCHES
Nagoya,
Osaka
OVERSEAS
Hong
Kong, China (3) (--subsidiaries) (The parent’s overseas offices are utilized)
OFFICERS
MICHIO SHIRASAKI, PRES Tatsuya Wakiyama, v pres
Shin’ichi Kihara, dir Makoto
Ito, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 93,635 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 853 M
TREND SLOW WORTH Yen 3,884 M
STARTED 1992 EMPLOYES 329
COMMENT
TRADING
FIRM SPECIALIZING IN APPAREL, WHOLLY OWNED BY MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 650.9
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a
textile division separated from Mitsui & Co Ltd (See REGISTRATION). This is a
trading firm specializing in apparel, textile materials, other. Also engaged in material development, product
planning, production management, obtaining licensees, other. 60% of the products are imported from China
and other. The firm operates 3 mfg
factories in China. Domestic clients
include major apparel makers, wholesalers, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2015 fiscal term amounted to Yen 93,635
million, a 3% down from Yen 96,151 million in the previous term. The recurring profit was posted at Yen 863
million and the net profit at Yen 531 million, respectively, compared with Yen
997 million recurring profit and Yen 386 million net profit, respectively, a
year ago.
For the current term ending Mar 2016 the recurring profit is projected
at Yen 870 million and the net profit at Yen 540 million, respectively, on a 3%
rise in turnover, to Yen 96,450 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 650.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1992
Regd No.: 0104-01-056967
(Tokyo-Minatoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 68,240 shares
Issued:
17,060 shares
Sum: Yen
853 million
Major shareholders (%): Mitsui & Co Ltd* (100)
*.. General trading company vying with Mitsubishi Corp for
top position, founded 1947, Listed Tokyo S/E, capital Yen 341,482 million,
Sales Yen 5,404,930 million, operating profit Yen 190,270 million, recurring
profit Yen 431,827 million, net profit Yen 306,490 million, total assets Yen
12,466,205 million, net worth Yen 4,232,256 million, employees 47,118, pres
Tatsuo Yasunaga
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities:
Trading firm for import, export and wholesale of apparel, apparel materials,
fashion accessories, offering material development, product planning,
production management, licensing agreement, other (--100%)
Clients:
[Mfrs, wholesalers] Mitsui & Co, Sanyo Shokai, Five Foxes Co, Sanyei International,
Onward Kashiyama, Issei Miyake, King Co, other
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Imports from China, Hong Kong, Vietnam, Myanmar,
Bangladesh, Cambodia, other (60%).
40% supplied from domestic textile makers & processors.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC
(Kojimachi)
Mizuho
Bank (Aoyama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
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Annual
Sales |
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96,450 |
93,635 |
96,151 |
95,063 |
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Recur.
Profit |
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870 |
863 |
997 |
1,128 |
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Net
Profit |
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540 |
531 |
386 |
731 |
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Total
Assets |
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45,717 |
44,780 |
45,838 |
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Current
Assets |
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44,470 |
43,445 |
43,451 |
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Current
Liabs |
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41,309 |
40,484 |
41,161 |
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Net
Worth |
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3,884 |
3,738 |
4,087 |
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Capital,
Paid-Up |
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853 |
853 |
853 |
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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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3.01 |
-2.62 |
1.14 |
1.73 |
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Current Ratio |
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.. |
107.65 |
107.31 |
105.56 |
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N.Worth Ratio |
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.. |
8.50 |
8.35 |
8.92 |
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R.Profit/Sales |
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0.90 |
0.92 |
1.04 |
1.19 |
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N.Profit/Sales |
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0.56 |
0.57 |
0.40 |
0.77 |
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Return On Equity |
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.. |
13.67 |
10.33 |
17.89 |
Notes:
Forecast (or estimated) figures for the 31/03/2016 fiscal term.
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.