MIRA
INFORM REPORT
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Report Date : |
10th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
KEIAN
CORPORATION |
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Registered Office : |
2-18-7 Higashiikebukuro Toshimaku Tokyo 170-0013
JAPAN |
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Country : |
Japan |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
December
1991 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of PC’s &
peripherals; export of electronics parts |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 92.3 MILLION |
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Status : |
Moderate
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Name
KEIAN CORPORATION
REGD NAME
Keian KK
MAIN OFFICE
2-18-7
Higashiikebukuro Toshimaku Tokyo 170-0013 JAPAN
Tel : 03-3980-6425
Fax : 03-3980-6286
URL : http://www.keian.co.jp/
E-Mail
address : support@keian.co.jp
ACTIVITIES
Import,
wholesale of PC’s & peripherals; export of electronics parts
BRANCHES
Osaka
FACTORY(IES)
Fujimino
(Saitama) (distribution center)
OFFICERS
ANSHIN
KOU, PRES (Taiwanese resident)
Shigeki
Kobayashi, dir
Takamori
Sai, dir
Yen Amount
In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 7,378 M
PAYMENTS REGULAR CAPITAL Yen 163 M
TREND SLOW WORTH Yen
447 M
STARTED 1991 EMPLOYES 68
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN PC’S & PERIPHERALS. FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 92.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established as
marketing base in Japan by Keian, Taiwan, for selling
PC’s & peripherals. This is a
trading house specializing in PC’s and peripherals. Also exports electronics
parts & components to Taiwan, Singapore, etc. Domestic clients include major
PC chain stores, electronics mfrs, other.
FINANCIAL INFORMATION
The sales volume for Jun/2005 fiscal term amounted to Yen 7,378 million, a 21% down from Yen 9,326 million in the previous term. Due to competition among the trade, PC unit prices continued under pressure. Higher dependence ratio of PC hardware hurt the operations. The operations continued in the red to register Yen 16 million net losses for the term. This compares with Yen 69 million net losses the previous year. The firm is said in process of increasing PC software sales, including memory cards. Balance Sheet is attached.
For the term ended Jun 2006 the
operations are reported to have come back to profitability but still remained
at a minimum amount post-taxes, on a similar turnover, at Yen 7,400
million. Details have not been
released.
The financial situation is considered
RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 92.3
million, on 30 days normal terms.
REGISTRATION
Date Registered : Dec 1991
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 3,260 shares
Issued :
3,260 shares
Sum :Yen
163 million
Major shareholders (%)
Anseki Hoshihara, Employees’ S/Holding
Assn, Anshin Kou, other (Breakdown
unavailable)
No. of shareholders: 37
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities
Imports and wholesales PC’s and
peripherals (--90%); exports electronics parts & components, handy phones, others
(--10%). Imports from Taiwan, USA, Singapore, China, other; exports to
Singapore, Taiwan, USA.
Clients
[Mfrs, PC chain stores] Tsukumo
Electronics, Sofmap, Bic Camera, Yodobashi Camera, Third Wave, Eiden
Communications, Arrows Systems, other.
Exports to Taiwan, Singapore, USA, etc.
No. of accounts
2,200
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] MTC Worldwide Corp,
Grand Micro International Inc, TSR Silicon
International Inc, other from Taiwan, China, Singapore, USA, etc. Also supplied from Toshiba Personal Computer
System Corp, Nissho Electronics, Fujitsu Ltd, Hitachi Software Engineering, LG
Electronics Japan, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Mizuho
Bank (Ikebukuro)
Bank
of Tokyo-Mitsubishi UFJ (Ikebukuro)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual Sales |
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7,400 |
7,376 |
9,326 |
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Recur. Profit |
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-25 |
-117 |
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Net Profit |
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0 |
-16 |
-69 |
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Total Assets |
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2,090 |
2,807 |
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Current Assets |
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1,199 |
2,025 |
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Current Liabs |
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1,260 |
1,797 |
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Net Worth |
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447 |
458 |
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Capital, Paid-Up |
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163 |
163 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.33 |
-20.91 |
-0.26 |
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Current Ratio |
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95.16 |
112.69 |
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N.Worth Ratio |
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21.39 |
16.32 |
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R.Profit/Sales |
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-0.34 |
-1.25 |
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N.Profit/Sales |
0.00 |
-0.22 |
-0.74 |
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Return On Equity |
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-3.58 |
-15.07 |
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Notes:
Forecast (or estimated) figures for 30/06/2006 fiscal term.
BALANCE SHEET
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FINANCES: (Non-Consolidated in million yen) |
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Terms Ending: |
30/06/2005 |
30/06/2004 |
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BALANCE SHEET |
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Cash |
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82 |
201 |
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Receivables |
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628 |
844 |
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Inventory |
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281 |
351 |
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Securities, Marketable |
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Other
Current Assets |
208 |
629 |
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TOTAL CURRENT ASSETS |
1,199 |
2,025 |
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Property
& Equipment |
630 |
644 |
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Intangibles |
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3 |
2 |
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Investments, Other Fixed Assets |
258 |
136 |
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TOTAL ASSETS |
2,090 |
2,807 |
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Payables |
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363 |
572 |
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Short-Term Bank Loans |
618 |
517 |
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Other
Current Liabs |
279 |
708 |
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TOTAL CURRENT LIABS |
1,260 |
1,797 |
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Debentures |
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Long-Term Bank Loans |
273 |
444 |
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Reserve
for Retirement Allw |
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Other
Debts |
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110 |
108 |
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TOTAL LIABILITIES |
1,643 |
2,349 |
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MINORITY INTERESTS |
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Common stock |
163 |
163 |
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Additional paid-in capital |
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Retained earnings |
244 |
260 |
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Evaluation p/l on investments/securities |
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Others |
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40 |
35 |
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Treasury stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
447 |
458 |
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TOTAL EQUITIES |
2,090 |
2,807 |
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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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