MIRA INFORM REPORT
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Report Date : |
20th May 2006 |
IDENTIFICATION DETAILS
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Name : |
NICHIBEI
TRADING CO LTD |
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Registered Office : |
Nichibei Bldg
3F, 3-15-4 Nihombashi Chuoku Tokyo 103-0027 Japan |
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Date of Incorporation : |
Dec
1995 |
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Legal Form : |
Limited
Company |
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Line of Business : |
Importers,
exporters and wholesale of blinds, partitions |
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 12 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAM
NICHIBEI TRADING CO LTD
REGD NAME
Nichibei Trading KK
MAIN OFFICE
Nichibei Bldg 3F, 3-15-4 Nihombashi Chuoku
Tokyo 103-0027 JAPAN
Tel: 03-3272-2027
Fax: 03-3272-2017
URL: http://www.nichi-bei.co.jp/
E-Mail address: info@nichi-bei.co.jp
ACTIVITIES
Import, export, wholesale of
blinds, partitions
BRANCHES
Nil
OFFICER(S)
KONOSUKE FUKUOKA, PRES
Hiroyuki Sugihara, rep dir
Hiroshi Wakahara, dir
Yen Amount
In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
620 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 70 M
STARTED 1995 EMPLOYES 5
COMMENT
TRADING FIRM
SPECIALIZING IN BLINDS & PARTITIONS, WHOLLY OWNED BY NICHIBEI CO LTD. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12
MILLION, NORMAL 30 DAYS TERMS.
HIGHLIGHTS
The subject company was
established as a trading division by Nichibei Co Ltd, blinds & partition
mfr, at the caption address (see REGISTRATION), in order to focus on import, export
and other overseas operations. Yunosuke
Fukuoka is concurrently pres of the parent.
Hiroyuki Sugihara is responsible for the management and operation of the
subject. This is a trading division for
import, export and wholesale of blinds, partitions, etc, exclusively for the
parent, Nichibei Co Ltd. Goods are
exported to and imported from the world over.
Mfg materials are also imported for shipment to the parent. Imported goods are marketed by the parent,
Nichibei Co Ltd. The subject also
conducts license arrangements. The
financials are only partially disclosed.
The sales volume for
Dec/2005 fiscal term amounted to Yen 620 million, a 14% up from Yen 545 million
in the previous term. Rising exports
contributed to the sales growth; weaker Yen against foreign currencies also
assisted to lift sales in Yen terms.
The net profit was posted at Yen 20 million, a 25% increase from Yen 16
million a year ago.
For the current term
ending Dec 2006 the net profit is projected at Yen 22 million, on a 10% rise in
turnover, to Yen 680 million. Business
is seen on the upswing. The firm
reportedly aims to enter e-commerce business.
The financial situation
is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 12
million, on normal 30 days terms. On
the back of the parent’s financial strength, the subject’s credit engagements
are considered sound and secure.
REGISTRATION
Date Registered: Dec 1995
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%): Nichibei
Co Ltd*(100)
*.. Nation’s largest mfr
of blinds & shades, at the caption address, founded 1954, capital Yen 460
million, turnover Yen 31,435 million, recurring profit Yen 978 million, net
profit Yen 419 million, total assets Yen 22,704 million, employees 860, pres
Yunosuke Fukuoka, concurrently.
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports,
exports and wholesales blinds & shades: Venetian blinds, vertical blinds,
aluminum slats, textile shades, other partitions; also imports mfg materials
for the parent, Nichibei Co Ltd (--100%).
Also arranges licensing contracts.
Clients: [Mfrs,
wholesalers] Exports to Singapore, Australia, Switz, Italy, Thailand, Korea,
Malaysia, Indonesia, Canada, Brazil, other.
Goods are wholly supplied from the parent, Nichibei Co Ltd.
No. of accounts: 1
(Domestically)
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Germany, USA, Belgium, Netherlands, Denmark, Sweden,
France, Taiwan, China, other. Goods are
wholly shipped to the parent, Nichibei Co Ltd.
Payment record: Regular
Location: Business area
in Tokyo. Office premises at the
caption address are owned by the parent, Nichibei Co Ltd, and maintained
satisfactorily.
Bank References
Mizuho Bank (Nihombashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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680 |
620 |
545 |
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Recur. Profit |
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.. |
.. |
.. |
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Net Profit |
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22 |
20 |
16 |
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Total Assets |
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N/A |
N/A |
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Net Worth |
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70 |
50 |
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Capital, Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.68 |
13.76 |
31.64 |
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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 |
3.24 |
3.23 |
2.94 |
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/12/2006 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 |