MIRA
INFORM REPORT
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Report Date : |
2nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
IDEA
INTERNATIONAL COMPANY LIMITED |
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Registered Office : |
MTC Building 3F, 5-13-1 Shiba Minatoku Tokyo 108-0014, JAPAN |
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Country : |
Japan |
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Financials (as on) : |
30/06/2007 |
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Date of Incorporation : |
November
1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Activities: Imports, wholesales and
retails lifestyle goods, such as watches, stationary, home electronics,
kitchen & bathroom units, lighting fixtures, others; offering designing,
OEM production of these items (--100%). |
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 70.3 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Name
IDEA
INTERNATIONAL CO LTD
REGD NAME
Idea
International KK
MAIN OFFICE
MTC
Bldg 3F, 5-13-1 Shiba Minatoku Tokyo 108-0014 JAPAN
Tel : 03-5446-9531
Fax : 03-5446-9535
URL : http://www.idea-in.com/
E-Mail address : (thru the
URL)
ACTIVITIES
Import, wholesale, retail of watches, stationary, electronics
appliances, other
STORE(S)
Tokyo, Kumamoto, Nagoya, Fukuoka (just opened in Oct)
FACTORY(IES)
(subcontracted)
OFFICERS
MASAHARU HASHIMOTO, PRES
Motonari Matsubara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,196 M
PAYMENTS REGULAR CAPITAL Yen 184 M
TREND STEADY WORTH Yen 650 M
STARTED 1995 EMPLOYES 65
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN WATCHES, HOME ELECTRONICS,
OTHER HOUSEHOLD GOODS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 70.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by
Masaharu Hashimoto in order to make most of his
experience in the subject line of business.
Founded in Nov 1995 but actual operations started in May 1996. This is a trading house for import,
wholesale and retail of watches, stationery, home electronics, kitchen &
bathroom goods, lighting fixtures, other.
Offers design, OEM mfg services, too.
Operates 4 chain stores selling these goods. Financials are disclosed only in digested statement.
FINANCIAL INFORMATION
The sales volume for Jun/2006
fiscal term amounted to Yen 3,196 million, a 35% up from Yen 2,362 million in
the previous term. New store opening
contributed to the sales growth. The
net profit, on the other hand, decreased to Yen 66 million from the previous
Yen 96 million, due to heavy outlays in opening new stores.
For the current term ending Jun
2007 the net profit is projected at Yen 70 million, on a 10% rise in turnover,
to Yen 3,500 million. The new store
opened in Oct/2006 is expected to contribute.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 70.3
million, on 30 days normal terms.
REGISTRATION
Date Registered : Nov 1995
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
14,720 shares
Issued :
3,680 shares
Sum :
Yen 184 million
Major shareholders (%)
Masaharu
Hashimoto (42.5), Investors’ Fund (5.4), Nomura Trust Bank (4.9), Siix Corp (4)
No. of shareholders
Unavailable
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails lifestyle goods, such as watches, stationary, home electronics, kitchen & bathroom units, lighting fixtures, others; offering designing, OEM production of these items (--100%). Operates 4 retail stores.
Handling Brands:
Europe:
Braun, Lexon, Starck, Mathmos, Fusion, idea+design, KikkerLand, Bengt EX Design,
Suck, Rosendaha, Seleth, Baghear, other; Asia: Magpie, Time; Kids: Plan Toys,
Kee-Ka/ mic-0-mic/ Idea Kids, other.
Clients
[Department
stores, chain stores] Takashimaya, Bals Corp, Ryohin Keikaku Co, Fujiei Inc, other.
No. of accounts
500
(Wholesaling Div)
Domestic areas of activities
Nationwide
Suppliers
[Mfrs,
wholesalers] Siix Corp, Takumi Kogei, other.
Imports from Europe, S/E Asia,
etc.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC
(Mitadori)
Aozora
Bank (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual Sales |
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3,500 |
3,196 |
2,362 |
1,779 |
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Recur. Profit |
(*) |
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166 |
78 |
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Net Profit |
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70 |
66 |
96 |
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Total Assets |
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1,888 |
1,631 |
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Current Assets |
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1,693 |
1,557 |
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Current Liabs |
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1,086 |
912 |
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Net Worth |
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650 |
455 |
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Capital, Paid-Up |
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184 |
184 |
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<Analytical Data> |
(%) |
(%) |
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(%) |
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S.Growth Rate |
9.51 |
35.31 |
32.77 |
19.16 |
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Current Ratio |
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155.89 |
170.72 |
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N.Worth Ratio |
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34.43 |
27.90 |
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R.Profit/Sales |
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7.03 |
4.38 |
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N.Profit/Sales |
2.00 |
2.07 |
4.06 |
0.00 |
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Return On Equity |
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10.15 |
21.10 |
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Notes: Financials are disclosed only in digested statement.
Forecast (or estimated) figures for 30/06/2007 fiscal term.
(*) Pretax profits disclosed by the Taxation Office.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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