MIRA INFORM REPORT
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Report No. : |
335533 |
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Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
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Name : |
PROGETTO CO., LIMITED |
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Registered Office : |
1-22-25, Kitahorie, Nishi-Ku, Osaka, Osaka, 550-0014 |
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Country : |
Japan |
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Date of Incorporation : |
September
1994 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Private Limited |
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Line of Business : |
Trader of Ready-Made Garments, Cloth for Men & Women |
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No. of Employee : |
6 |
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 : |
Small company |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 an 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. Scarce in many natural resources, Japan has long been dependent on imported raw materials. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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. 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 of that year disrupted manufacturing. The economy has largely recovered in the four years since the disaster, although reconstruction in the affected Tohoku region has lagged, in part due to a shortage of labor in the construction sector. Japan enjoyed a sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Abe’s government has replaced the preceding administration’s plan to phase out nuclear power with a new policy of seeking to restart nuclear power plants that meet strict new safety standards, and emphasizing nuclear energy’s importance as a base-load electricity source. Japan joined the Trans-Pacific Partnership (TPP) 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 first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. While seeking to stimulate and reform the economy, the government must also devise a strategy for reining in Japan's huge government debt, which amounts to more than 230% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8% implemented in April 2014. That increase had a contractionary effect on GDP, however, so PM Abe in late 2014 decided to postpone the final phase of the increase until April 2017 to give the economy more time to recover. Led by the Bank of Japan’s aggressive monetary easing, Japan is making progress in ending deflation, but demographics - low birthrate and an aging, shrinking population - pose major long-term challenges for the economy.
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Source
: CIA |
NOTE
In absence of financials, no credit limit could be recommended.
Company
name and address
PROGETTO CO., LIMITED
1-22-25, KITAHORIE,
NISHI-KU, OSAKA, OSAKA, 550-0014, JAPAN
TEL: 06-6543-8776
FAX: 06-6543-8543
EXECUTIVE
SUMMARY
INCORPORATION DATE :
SEPTEMBER 1994
REGISTRATION NO. : N/A
LEGAL FORM : PRIVATE LIMITED
CHIEF EXECUTIVE : MR. NOBORU KANAZAWA (REPRESENTATIVE DIRECTOR)
STAFF STRENGTH : 6
PAID-UP CAPITAL : N/A
BUSINESS LINE : TRADER
TURNOVER : USD 6,500,000 (AS OF 31/12/2014)
EQUITIES : N/A
PAYMENT : NO
COMPLAINTS
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : JPY 119.145 =
USD 1
ADOPTED
ABBREVIATIONS:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
JPY- Japanese JPY
Note:
The heading address belongs to SC’s heading office.
Warehouse: 1-22-25, Kitahorie, Nishi-Ku, Osaka,
Osaka, 550-0014, Japan
www.progetto-ltd.net The design is professional and the content
is well organized, and now it is in Japanese version.
Email: info@progetto-ltd.net
For the past two years there is no record of litigation.
N/A
Name : Mr. Noboru
Kanazawa
Designation: Representative Director
Nationality: Japanese
Line of Business: Trader
Items Dealing In: Ready-Made
Garments
Range of Products Cloth for
Men & Women
Major Clients Round
About Co., Limited
RMC Limited
Akiyama Co.,
Limited
Choya
Corporation
Aeon Retail
Co., Limited
Village
Vanguard Corporation Limited
Terms of Purchase: Local:
Cash or Credit
Import: Against L/C
Terms of Sale: Local:
Cash or Credit
Export: Against L/C
NIL
|
Year |
2014 |
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Capital |
N/A |
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Sales
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USD
6.5 million |
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Profit
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USD
2.5 million |
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Assets |
N/A |
Note: The subject
flatly refused to reveal their financial information.
N/A
SC is considered
small-sized in its line with 21 years history development. Due to lack of
financial statements, we are unable to determine the maximum credit limit for
SC. However, taking into consideration of
SC’s general performance, reputation as well as market conditions, credit
dealings with SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
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|
1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ANK |
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.