MIRA INFORM REPORT
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Report Date : |
20th May 2006 |
IDENTIFICATION DETAILS
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Name : |
HAYASHI TOWEL INC |
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Registered Office : |
3-19-1 Yasakadai Sumaku
Kobe 654-0161 Japan |
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Date of Incorporation : |
Mar 1973 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Importers
and wholesalers of towels, bed sheets |
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 17.5 MILLION |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
HAYASHI TOWEL INC
REGD NAME
KK Hayashi Towel
MAIN OFFICE
3-19-1 Yasakadai Sumaku Kobe 654-0161 JAPAN
Tel: 078-796-0066
Fax: 078-796-0067
E-Mail address: info@cl-blanc.com
ACTIVITIES
Import, wholesale of towels, bed sheets
BRANCHES
Kobe, Nagoya
OFFICER(S)
YOSHIHITO HAYASHI, PRES
Tadahito Hayashi, s/mgn dir
Masahito Hayashi, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
1,134 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND SLOW WORTH Yen 115 M
STARTED 1973 EMPLOYES 25
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN TOWELS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 17.5 MILLION,
NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established by Yoshihito Hayashi in order to make most of his experience in the
subject line of business. The firm is
owned and operated by the Hayashi family, specializing in import and wholesale
of towels, linens, fragrance, other.
The firm employs in-house division company system: Francjour, Cl-blanc
and Verdemure. Each division is
responsible for area & item operations.
The Francjour Div acts as import agent for Cote Bastide and Edith Mezard
(--France). The firm also operates
in-house shops at department stores, centering in Osaka, Kobe and Nagoya. This business is thrown into cut-throat
competition with lower prices imports coming in from China and other S/E Asian
countries. Downstream market prices
continue under pressure. The firm is
actively differentiating itself by marketing higher-quality products from Europe,
unlike those from these countries.
Still the competition is getting severer.
The sales volume for Mar/2005
fiscal term amounted to Yen 1,134 million, an 18% down from Yen 1,388 million
in the previous term. This is referred
to the said competition among the trade.
The net profit declined to one-fourth of the previous level to Yen 2
million.
For the term ended Mar 2006 the
net profit is believed posted at Yen 2 million, despite a 6% rise in turnover,
to Yen 1,200 million. Weaker Yen
against foreign currencies is thought to have contributed to sales growth in
Yen terms.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 17.5
million, on normal 30 days terms.
REGISTRATION
Date Registered: Mar 1973
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000
shares
Sum: Yen 50 million
Major shareholders (%):
Yoshihito Hayashi (25), Tadahito Hayashi (25), Masahito Hayashi (25), Kiyomi
Kizaki (12)
No. of shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports and
wholesales towels, linens, fragrance (--100%): handkerchiefs, wash towels, face
towels, bath towels, blanket, soaps, linen water, fragrance sprays, gift sets,
others.
The in-house division acts as
import agent for Cote Bastide and Edith Mezard (--France).
Clients: Department stores, specialty
stores, online shoppers, gift shops,
banks, etc.
No. of accounts: 1,000
Domestic areas of activities: Centered
in greater-Osaka, extending into Nagoya
& vicinities.
Suppliers: [Mfrs, wholesalers]
Tsubame Towel, Sanwa Seishoku, Sugimoto Keori, Aplus Co, A-Z Trading,
other. Also imports from France, Brazil, etc.
Payment record: Regular
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
SMBC (Kobe)
Shoko Chukin Bank (Kobe)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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1,200 |
1,134 |
1,388 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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2 |
2 |
8 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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115 |
113 |
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Capital,
Paid-Up |
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50 |
50 |
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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 |
5.82 |
-18.30
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11.85 |
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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 |
0.17 |
0.18 |
0.58 |
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Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/03/2006 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 |