MIRA INFORM REPORT
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Report Date : |
10th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ARGO CORPORATION |
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Registered Office : |
Yoshida Tokyu Bldg 8F,
1-17-26 Esakacho Suita Osaka-Pref564-0063 JAPAN |
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Date of Incorporation : |
Jan 1987 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of PC image
processing equipment, video digital cameras, frame grabber boards, PC software |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 7 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
ARGO CORPORATION
REGD NAME
KK Argo
MAIN OFFICE
Yoshida Tokyu Bldg 8F, 1-17-26 Esakacho Suita
Osaka-Pref564-0063 JAPAN
Tel: 06-6339-3366
Fax: 06-6339-3365
E-Mail address: argo@argocorp.com
ACTIVITIES
Import, wholesale of PC image
processing equipment, video digital cameras,
frame grabber boards, PC software
BRANCHES
Nil
OFFICER(S)
TSUTOMU OHORI, PRES Atsushi Katoh, dir
Yoshimasa Ohori, dir Keiko Katoh, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
430 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 98 M
STARTED 1987 EMPLOYES 11
COMMENT: IMPOT AGENT SPECIALIZING IN PC IMAGE PROCESSING EQUIPMENT. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 7 MILLION, NORMAL
30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Tsutomu Ohori in order to make most of his experience in the
subject line of business. This is an
import agent consigned from overseas PC software mfrs, handling image
processing equipment, video cameras, frame grabber boards, versatile operation
system software, other related products.
Clients include major electronics mfrs, camera makers, other,
nationwide.
The sales volume for May/2005
fiscal term amounted to Yen 430 million, a 30% up from Yen 330 million in the
previous term. This is attributed to
the expansion of client networks into major electronics appliances mfrs,
including Canon, Sharp, Olympus and other digital camera mfrs. The net profit, on the other hand, decreased
to Yen 10 million from Yen 12 million a year ago. This is referred to the rising cost of imports and overheads.
For the current term ending May
2006 the net profit is projected at Yen 12 million, on a 12% rise in turnover,
to Yen 480 million. Weaker Yen against
foreign currencies could result in increased sales in Yen terms.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 7
million, on normal 30 days terms.
REGISTRATION
Date Registered: Jan 1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400
shares
Sum: Yen 20 million
Major shareholders (%): Tsutomu Ohori,
Atsushi Katoh, other (breakdown
unavailable)
No. of shareholders: 8
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports as agent PC
image processing equipment, digital video cameras (--30%), frame grabber boards
(30%), versatile operation system software, lenses, other related products
(--40%).
Clients: [Electronics mfrs]
Itochu Techno Science, Sharp Corp, Canon Inc, Olympus Corp, Matsushita Electric
Ind, other.
No. of accounts: 100
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, software
developers] FSI Automation, Integral Technologies, Optem, DVC, Imaging Source,
EPIX, Lumenera Corp, Cyber Optics Semiconductor, Vision Gauge, other.
Payment record: Regular
Location: Business area in Suita
City, adjacent to Osaka City. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Esaka)
Ikeda Bank (Esaka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual
Sales |
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480 |
430 |
330 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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12 |
10 |
12 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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98 |
88 |
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Capital,
Paid-Up |
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20 |
20 |
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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 |
11.63 |
30.30 |
8.55 |
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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 |
2.50 |
2.33 |
3.64 |
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Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/05/2006 fiscal term.
RATING EXPLANATIONS
RATING
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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 |