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MIRA INFORM REPORT
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Report No. : |
486682 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
EAST WEST CORPORATION |
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Registered Office : |
Sanko Bldg #406, 1-3-9 Minamihonmachi Chuoku Osaka 541-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
Dec., 1993 |
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Com. Reg. No.: |
1200-02-034148 (Osaka-Chuoku) |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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Line of Business : |
Import and wholesale of textiles, apparel, chemical products. |
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No. of Employees : |
5 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
name and Address
EAST WEST CORPORATION
REGD NAME: YK
East West Corporation
MAIN OFFICE: Sanko Bldg #406, 1-3-9
Minamihonmachi Chuoku Osaka 541-0054 JAPAN
Tel: 06-6264-6530 Fax: 06-6265-9014
URL: N/A
ACTIVITIES
Import, wholesale of
textiles, apparel, chemical products
BRANCHES
Nil
OVERSEAS
India, Nepal,
Afghanistan, Malaysia, other (--Business Partners)
OFFICER(S)
JANTIA A RAMKUMAR,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,150 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 91 M
STARTED 1993 EMPLOYES 5
COMMENT
TRADING FIRM
SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established originally in 1973by Jantia A Ramkumar, an Indian
resident, in order to make most of his experience in the subject line of
business, on his account, and was incorporated in 1993 as a trading firm. This is a trading firm specializing in
import, export and wholesale of textile piece goods & products, chemical
products, other. Goods are imported
mainly from India, other from China, etc.
Imports from China are expanding.
Goods are supplied to specialty stores, apparel wholesalers, other,
centering in the greater-Osaka region.
FINANCIAL
INFORMATION
Financial are only
partially disclosed.
The
sales volume for Mar/2017 fiscal term amounted to Yen 1,150 million, a 3% up from
Yen 1,116 million in the previous term.
The net profit was posted at Yen 2 million, compared with Yen 1 million
a year ago.
For the current
term ending Mar 2018 the net profit is projected at Yen 3 million, on a 3% rise
in turnover, to Yen 1,185 million.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
REGISTRATION
Date
Registered: Dec 1993
Regd
No.: 1200-02-034148
(Osaka-Chuoku)
Legal
Status: Private
Limited Company (Yugen Kaisha)
Regd
Capital: Yen
30 million
Major shareholders (%): Birgo KK*(100)
*.. Holding
company & apparel retailer, owned by J A Ramkumar
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales textile piece goods & products, chemical products, others
(--100%)
Goods are imported from India mainly, other
from China, etc.
Clients: [Apparel makers,
other] Exports to India, Nepal, Afghanistan, Malaysia, China, other.
Domestically: Hoshino Shoten, Takada Shoten, other
No. of accounts: 200
Domestic areas of activities: Centered in
greater-Osaka
Suppliers: [Mfrs, wholesalers] Sumitomo Chemical Ind,
Mitsubishi Gas Chemical, Mitsui Chemical,
Sanyo Sales & Marketing, Ueda Trading Co, Okahata Sangyo, Toli Corp, Ueda
Trading Co,
Marunaka Co, other
Imports from India, China, 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)
SMBC
(Osaka-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual
Sales |
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1,185 |
1,150 |
1,116 |
980 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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3 |
2 |
1 |
1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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91 |
89 |
88 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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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3.04 |
3.05 |
13.88 |
-1.01 |
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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 |
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0.25 |
0.17 |
0.09 |
0.10 |
Notes: Financials are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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YEN |
1 |
INR 0.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.