MIRA
INFORM REPORT
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Report Date : |
9th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
NAGAWA
COMPANY LIMITED |
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Registered Office : |
1-12 Koganedori Nakamuraku Nagoya 453-0804 JAPAN |
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Country : |
Japan |
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Financials (as on) : |
30/09/2006 |
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Date of Incorporation : |
November
1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of wool, mohair,
alpaca, other natural fiber |
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 12.8 MILLION |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Name
NAGAWA CO LTD
REGD NAME
Nagawa Sensho KK (Sensho means textile
trading in Japanese)
MAIN OFFICE
1-12 Koganedori Nakamuraku Nagoya 453-0804
JAPAN
Tel :
052-451-1137
URL : http://www.nagawa.com/
E-Mail address : webmaster@nagawa.com
ACTIVITIES
Import, wholesale of wool,
mohair, alpaca, other natural fiber
BRANCHES
Nil
OFFICERS
KOTARO KURONO, PRES
Kentaro Kurono, mgn dir
Yoshihiko Miyata, dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,171 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND SLOW WORTH Yen 153 M
STARTED 1954 EMPLOYES 13
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN WOOL & OTHER NATURAL FIBER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12.8
MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1925 by Jiro Nagawa as a wool trader, on his account. Incorporated in 1945, the firm has been succeeded by his descendants. This is a trader, wholly owned by Kurono family, specializing in import and wholesale of mohair, alpaca, British wool, Australian wool, yarn and products. Goods are imported from UK, France, Australia, China, South Africa, USA, other. Clients are apparel makers nationwide.
FINANCIAL INFORMATION
The sales volume for Sept/2005 fiscal
term amounted to Yen 2,171 million, an 8% down from Yen 2,372 million in the
previous term. The recurring profit was
posted at Yen 32 million and the net profit at Yen 6 million, respectively,
compared with Yen 27 million recurring profit and Yen 7 million net profit,
respectively, a year ago. Competitions
among the trade continued severe, pressing down on prices.
For the term ended Sept 2006 the net
profit is believed posted at Yen 6 million, on a slight rise in turnover, to
Yen 2,200 million.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 12.8
million, on 30 days normal terms.
REGISTRATION
Date Registered : Nov 1954
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 3,600 shares
Issued :
900 shares
Sum :
Yen 45 million
Major shareholders (%)
Kentaro Kurono (31.5), Kotaro Kurono
(24.4), Ryoko Kurono (6.6),
Yoshiko Hasegawa (6.4)
No. of shareholders: 12
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities:
Imports and wholesales natural fiber, such as British wool, lamb wool, mohair, Angola,
cashmere, alpaca, camel wool, yarn & products (stoles, lace stoles,
lingerie, ostrich bags, etc) (--100%).
Goods are imported from UK, France, A
Africa, USA, Australia, China, other.
Worldwide networks: International
Mohair Association, Mohair South Africa, America Mohair Council, International
Alpaca Association, British Wool Marketing Board, Wool Mark Co, other.
Clients
[Apparel mfrs, wholesalers] Nishikawa
Sangyo Co, Kaneka Co, Japan Wool Textile, Daitobo Shinso, Aichi Yomo Kogyo,
Miyata Keori Kogyo, Hamanaka Co, Dia Keito, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Michell
International, OSB Stucken, BUSSEY-Hewier, Michell & Cia, Paul Brenac,
other from UK, France, S Africa, Australia, USA, China, etc. Also from Mitsui & Co, and some other
domestic suppliers.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Mizuho Bank (Nagoya-Ekimae)
Aichi Bank (Nakamura)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual Sales |
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2,200 |
2,171 |
2,372 |
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Recur. Profit |
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32 |
27 |
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Net Profit |
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6 |
6 |
6 |
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Total Assets |
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1,942 |
1,791 |
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Current Assets |
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1,081 |
823 |
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Current Liabs |
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772 |
569 |
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Net Worth |
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153 |
147 |
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Capital, Paid-Up |
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45 |
45 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.34 |
-8.47 |
-1.86 |
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Current Ratio |
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140.03 |
144.64 |
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N.Worth Ratio |
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7.88 |
8.21 |
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R.Profit/Sales |
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1.47 |
1.14 |
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N.Profit/Sales |
0.27 |
0.28 |
0.25 |
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Return On Equity |
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3.92 |
4.08 |
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Notes: Forecast (or estimated)
figures for 30/09/2006 fiscal term.
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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