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Report No. : |
338584 |
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Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
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Name : |
ASAHI CO.,
LIMITED |
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Registered Office : |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
MAY 1975 |
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Legal Form : |
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Line of Business : |
Subject is trader of bicycles & parts. |
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No. of Employee : |
1,229 |
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 : |
USD 8,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
ASAHI CO., LIMITED
TEL: 81-6-6923-2611 FAX: 81-6-6922-1798
INCORPORATION DATE : MAY
1975
REGISTRATION NO. :
N/A
CHIEF EXECUTIVE : YOSHIFUMI SHIMODA (PRES. & REPRESENTATIVE
DIRECTOR)
STAFF STRENGTH : 1,229
PAID-UP CAPITAL :
N/A
BUSINESS LINE :
TRADER
TURNOVER :
JPY
EQUITIES :
JPY
PAYMENT :
AVERAGE
RECOMM. CREDIT RANGE : UP TO USD 8,000,000
MARKET CONDITION :
COMPETITIVE
FINANCIAL CONDITION :
GOOD
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
SATISFACTORY
EXCHANGE RATE :
JPY 120.845 = US$1
Adopted abbreviations:
ANS - amount not stated NS - not stated SC - subject company (the company inquired by you)
NA - not available M - million JPY-Japan JPY
REGD NAME
ASAHI CO., LIMITED
REGISTRATION
Date of incorporation: MAY 1975
Status: Active
Regd No.: N/A
LOCATION
Head Office
Branch N/A
Factory N/A
Warehouse
Note: Your lacks
some details.
The design is professional and the content is well organized. At present
it is in Japanese, Chinese and English versions.
E-mail: info@cb-asahi.jp
For the past two years there is no record of litigation.
No ownership information is available in our
database.
DIRECTORS
Name Mr. Yoshifumi
Shimoda
Designation President &
Representative Director
Nationality Japanese
LINE OF BUSINESS
Trader of Bicycles & Parts
RANGE OF PRODUCTS
v Bicycles
v Bicycle Parts & Accessories
Terms of Purchase
Local :
Cash or Credit
Import :
Against L/C
Terms of Sale
Local : Cash or
Credit
Export : Against L/C
Export Market
Global
CERTIFICATIONS
N/A
The
SC is not known to have any related companies.
FINANCES
BALANCE SHEET
As At 31 March 2015
Currency: Yen (In Millions)
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Assets |
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Cash and Equivalents |
751.0 |
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TOTAL CASH AND SHORT TERM INVESTMENTS |
751.0 |
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Accounts Receivable |
994.0 |
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Other Receivables |
175.0 |
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TOTAL RECEIVABLES |
1,169.0 |
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Inventory |
7,977.0 |
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Prepaid Expenses |
229.0 |
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Deferred Tax Assets, Current |
92.0 |
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Other Current Assets |
703.0 |
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TOTAL CURRENT ASSETS |
10,921.0 |
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NET PROPERTY PLANT AND EQUIPMENT |
11,931.0 |
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Long-Term Investments |
6,208.0 |
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Loans Receivable, Long Term |
1.0 |
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Deferred Tax Assets, Long Term |
1.0 |
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Other Intangibles |
262.0 |
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Other Long-Term Assets |
2.0 |
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TOTAL ASSETS |
29,326.0 |
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LIABILITIES & EQUITY |
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Accounts Payable |
2,683.0 |
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Accrued Expenses |
1,538.0 |
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Short-Term Borrowings |
1,000.0 |
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Current Portion of Long-Term Debt/Capital
Lease |
99.0 |
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Current Income Taxes Payable |
1,160.0 |
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Other Current Liabilities, Total |
299.0 |
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Unearned Revenue, Current |
11.0 |
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TOTAL CURRENT LIABILITIES |
6,790.0 |
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Long-Term Debt |
2,566.0 |
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Pension & Other Post-Retirement
Benefits |
-- |
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Other Non-Current Liabilities |
546.0 |
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TOTAL LIABILITIES |
9,902.0 |
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Common Stock |
2,061.0 |
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Additional Paid in Capital |
2,165.0 |
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Retained Earnings |
14,906.0 |
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Treasury Stock |
-120.0 |
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Comprehensive Income and Other |
412.0 |
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TOTAL COMMON EQUITY |
19,424.0 |
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TOTAL EQUITY |
19,424.0 |
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TOTAL LIABILITIES AND EQUITY |
29,326.0 |
INCOME STATEMENT
For the year Ended 31 March 2015
Currency: Yen (In Millions)
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Revenues |
44,561.0 |
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TOTAL REVENUES |
44,561.0 |
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Cost of Goods Sold |
22,812.0 |
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GROSS PROFIT |
21,749.0 |
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Selling General & Admin Expenses, Total |
18,268.0 |
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Depreciation & Amortization, Total |
1,074.0 |
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Other Operating Expenses |
17.0 |
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OTHER OPERATING EXPENSES,
TOTAL |
19,359.0 |
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OPERATING INCOME |
2,390.0 |
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Interest Expense |
-6.0 |
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Interest and Investment Income |
46.0 |
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NET INTEREST
EXPENSE |
40.0 |
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Currency Exchange Gains (Loss) |
-37.0 |
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Other Non-Operating Income (Expenses) |
86.0 |
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EBT, EXCLUDING
UNUSUAL ITEMS |
2,479.0 |
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Gain (Loss) on Sale of Investments |
-- |
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Gain (Loss) on Sale of Assets |
-30.0 |
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Other Unusual Items, Total |
-89.0 |
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Other Unusual Items |
4.0 |
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EBT, INCLUDING
UNUSUAL ITEMS |
2,360.0 |
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Income Tax Expense |
990.0 |
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Earnings from Continuing Operations |
1,370.0 |
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NET INCOME |
1,370.0 |
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NET INCOME TO
COMMON INCLUDING EXTRA ITEMS |
1,370.0 |
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NET INCOME TO
COMMON EXCLUDING EXTRA ITEMS |
1,370.0 |
No banker information is available in our database.
SC is considered large-sized in its line with a long development history. Company can be considered good for normal business dealings at usual trade terms and conditions. Taking into consideration of SC’s general performance and financial situation, a credit line up to USD 8,000,000 would appear to be within SC’s capacities.
As per your request, client name was revealed as “Keys Commercial
Finance Ltd”.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
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|
1 |
Rs.102.29 |
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Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
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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.