|
|
|
MIRA INFORM REPORT
|
Report No. : |
485747 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEBS TEXTILE CORPORATION |
|
|
|
|
Registered Office : |
Honmachi Center Bldg 8F, 2-6-10 Honmachi Chuoku Osaka 541-0053 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
Apr 1991 |
|
|
|
|
Com. Reg. No.: |
1200-01-191937 (Osaka-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
A trading firm for import, export & wholesale of
clothing & accessories, textiles, other (--100%) |
|
|
|
|
No. of Employees : |
36 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
Yen 83.1 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic,
mastery of high technology, and a comparatively small defense allocation
(slightly less than 1% of GDP) have helped Japan develop an advanced economy.
Two notable characteristics of the post-World War II 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 have significantly eroded under the dual
pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price
differences, Japan in 2016 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. For three postwar decades, overall real economic
growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in
the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely
because of the aftereffects of inefficient investment and the collapse of an
asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an 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. Led by
the Bank of Japan’s aggressive monetary easing, Japan is making modest progress
in ending deflation, but demographic decline – a low birthrate and an aging,
shrinking population – poses a major long-term challenge for the economy. The
government currently faces the quandary of balancing its efforts to stimulate
growth and institute economic reforms with the necessity of addressing its
sizable public debt, which stands at 235% of GDP. To help raise government
revenue, Japan adopted legislation in 2012 to gradually raise the consumption
tax rate. However, the first such increase, in April 2014, led to another
recession, so Prime Minister ABE has twice postponed the next increase, now
scheduled for October 2019. Structural reforms to unlock productivity are seen
as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on
imported energy and raw materials. After the complete shutdown of Japan’s
nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's
industrial sector has become even more dependent than before on imported fossil
fuels. However, ABE’s government is seeking to restart nuclear power plants
that meet strict new safety standards and is emphasizing nuclear energy’s
importance as a base-load electricity source. In August 2015, Japan
successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in
Kagoshima prefecture, and several other reactors around the country have since
resumed operations; however, opposition from local governments has delayed
several more restarts that remain pending. Reforms of the electricity and gas
sectors, including full liberalization of Japan’s energy market in April 2016
and gas market in April 2017, constitute an important part of Prime Minister
Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the
Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Japan was the second country to ratify the TPP in
December 2016; the United States signaled its withdrawal from the TPP on
January 23, 2017, and as of April 2017 the agreement has not gone into effect.
|
Source
: CIA |
Company
name & address
DEBS TEXTILE CORPORATION
REGD NAME: Debs
Textile KK
MAIN OFFICE: Honmachi
Center Bldg 8F, 2-6-10 Honmachi Chuoku Osaka 541-0053 JAPAN
Tel:
06-6252-1661 Fax: 06-6252-1667
E-Mail address: sales@debscrop.com
ACTIVITIES: Export
of textiles, clothing & accessories
BRANCHES: Kobe
(warehouse)
OVERSEAS: Europe, USA, Latin America, Oceania,
other (--business partners)
OFFICERS: SOBHI DEBS, PRES
Hani Debs, v pres
Aisman Debs, dir
Yen Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,500 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND STEADY WORTH Yen
200 M
STARTED 1991 EMPLOYES 36
COMMENT: TRADING FIRM SPECIALIZING IN TEXTILES, OF MID EAST CAPITAL. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 83.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Debs Corp, Middle East, as its marketing office in Japan, as Debs Textile Corporation. This is a trading firm specializing in textiles: apparel & clothing accessories. 90% of the goods are exported, supplied from the major Japanese makers. Sales in Japan account for 10% of total sales. Clients include department stores, supermarkets, retail shops, mail-order houses, other.
FINANCIAL
INFORMATION
The financials are only partially disclosed
The sales volume for Dec/2016 fiscal term amounted to Yen 4,500 million, a 165% up from Yen 1,700 million in the previous term (the initial accounting term). The net profit was posted at Yen 170 million, compared with Yen 120 million a year ago.
For the term that ended Dec 2017 the net profit was projected at Yen 180 million, on a 6% rise in turnover, to Yen 4,750 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 83.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1991
Regd No.:
1200-01-191937
(Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major
shareholders (%): Sohbi Debs (50), Hani
Debs, other (--50)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: A trading firm for import, export & wholesale of clothing & accessories, textiles, other (--100%)
Clients: Exports to Europe, North America, Latin America, Oceania, other (--90%)
Domestically to department stores, supermarkets, apparel stores, mail-order houses, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toray, Mitsubishi Rayon Textile, Teijin Frontier, Chori Co, KB Seren, Komatsu Seiren Co, Amana Group, other
Payment record: No Complaints
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Semba)
MUFG (Semba-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/12/2017 |
31/12/2016 |
31/12/2015 |
|
Annual
Sales |
|
4,750 |
4,500 |
1,700 |
|
Recur.
Profit |
|
.. |
.. |
.. |
|
Net
Profit |
|
180 |
170 |
120 |
|
Total
Assets |
|
|
N/A |
N/A |
|
Net
Worth |
|
|
300 |
130 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.56 |
164.71 |
- - - |
|
Current Ratio |
|
|
.. |
.. |
|
N.Worth Ratio |
|
|
.. |
.. |
|
N.Profit/Sales |
|
3.79 |
3.78 |
7.06 |
Notes:
Financials are only partially disclosed. The 31/12/2015 is the initial accounting term from the inception of the firm.
Forecast (or estimated) figures for the 31/12/2017 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.83 |
|
|
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
|
YEN |
1 |
INR 0.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.