MIRA
INFORM REPORT
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Report Date : |
16th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
MORITA
COMPANY LIMITED |
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Registered Office : |
Shinkosan Bldg 507, 5-2-11 Uehonmachi Tennojiku
Osaka 567-0002 JAPAN |
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Country : |
Japan |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
Jun 2004 (as YK Morita) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of Foodstuffs |
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 : |
YEN 2.3 MILLION |
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Status : |
Fair |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company name
MORITA
CO LTD
REGD NAME
KK
Morita
MAIN OFFICE
Shinkosan
Bldg 507, 5-2-11 Uehonmachi Tennojiku Osaka 567-0002 JAPAN
Tel : 06-6768-1555
Fax : 06-6768-8882
URL : http://www.interfresh.co.jp/ (Of the parent)
E-Mail address :
inter@interfresh.co.jp
ACTIVITIES
Import, wholesale of foodstuffs
BRANCHES
Nil
OFFICER(S)
YOSHIKO MORITA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 200 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 10 M
STARTED 2006 EMPLOYES 2
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN FOODSTUFFS, WHOLLY OWNED
BY INTER FRESH CO LTD. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2.3 MILLION, ON NORMAL 30 DAYS TERMS. CREDIT COMMITMENT CAN BE LIFTED UP TO YEN
29.1 MILLION, SUBJECT TO GUARANTEE PROVIDED FROM THE PARENT, INTER FRESH CO
LTD.
HIGHLIGHTS
The subject company was established originally in 2004 as an
overseas section separated from Inter Fresh Co Ltd, foodstuff wholesaler, based
in Nara-Pref, in order to import foodstuffs centrally from S/E Asian countries,
pres Toshiyuki Higashibata (see REGISTRATION).
Originally as YK Morita: will upgrade to KK Morita on 01/07/2006. Yoshiko Morita is Higashibata’s
relative. The caption address is also
used as delivery center of Inter Fresh Co Ltd.
The two firms are regarded as one and the same company with management,
operations and staff members are fully integrated with the parent. Telephone operator responds as “Inter Fresh
Co Ltd”. The subject firm imports
pasta, olive oils, other processed foods from S/E Asian countries. Goods are wholly shipped to the parent,
Inter Fresh Co Ltd. Financials are
consolidated by the parent’s.
The sales volume for Jun/2060 fiscal term is projected at Yen 200
million, unchanged from the previous term.
The net profit is projected at Yen 2 million.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 2.3 million, on normal 30 days terms. The credit commitment is possible up to Yen
29.1 million, on full guarantee from the parent, Inter Fresh Co Ltd. Parent’s financials are attached
hereunder.
REGISTRATION
Date Registered : Jun 2004
(as YK Morita)
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%) :
Inter Fresh Co Ltd*(100)
Importer & wholesaler of foodstuffs, Nara-Pref, founded 1997,
capital Yen 10 million, turnover Yen 1,248 million, employees 8, pres Toshiyuki
Higashibata. Imports the goods from
Europe, Asia, USA, other. The parent
firm was located at the caption address until Apr 2005 before relocated
(re-registered) at Nara-Pref. The
caption address is used as its delivery center.
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesaler olive oils, pasta, canned
tomatoes, chili sauce, rice paper, other foodstuffs (--100%) for exclusive
delivery to the parent, Inter Fresh Co Ltd.
Clients: [Wholesaler] Shipped wholly to the parent, Inter Fresh Co
Ltd.
No. of accounts:
1
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Imports from Europe, Asia, other.
Payment record: Regular
Location: Business area in Osaka.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Resona Bank (Namba-Ekimae)
Mizuho Bank (Ueroku)
Relations: Satisfactory
FINANCES: (In Million Yen)
NOT MADE AVAILABLE FOR THE SUBJECT FIRM.
We have attached the financials of the parent, Inter Fresh Co Ltd,
as follows:
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Terms Ending: |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual Sales |
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1,248 |
882 |
820 |
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Recur. Profit |
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33 |
19 |
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Net Profit |
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38 |
34 |
18 |
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Total Assets |
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209 |
186 |
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Current Assets |
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203 |
180 |
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Current Liabs |
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80 |
91 |
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Net Worth |
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54 |
31 |
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Capital, Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
41.50 |
7.56 |
26.35 |
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Current Ratio |
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.. |
253.75 |
197.80 |
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N.Worth Ratio |
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25.84 |
16.67 |
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R.Profit/Sales |
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.. |
3.74 |
2.32 |
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N.Profit/Sales |
3.04 |
3.85 |
2.20 |
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Return On Equity |
.. |
62.96 |
58.06 |
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Notes: Financials are of the parent, Inter Fresh Co Ltd.
The firm says sales for the 31/03/2006 fiscal term amounted to Yen
1,400 million, details yet to be released.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |