MIRA
INFORM REPORT
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Report Date : |
11th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
WESCO
COMPANY INC. |
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Registered Office : |
3-14-20 Haruyoshi Chuoku Fukuoka 810-0003 Japan |
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Country : |
Japan |
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Date of Incorporation : |
August
2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cooking
utensils, water evaporators |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 7.2 MILLION |
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Status : |
Moderate
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
WESCO CO INC
REGD NAME
Wesco KK
MAIN OFFICE
3-14-20 Haruyoshi Chuoku Fukuoka 810-0003
JAPAN
Tel :
092-761-7600
Fax :
092-761-8283
URL : http://www.wesco-inc.co.jp/
E-Mail address : wesco@k9.dion.ne.jp
ACTIVITIES
Import, wholesale of cooking utensils,
water evaporators
BRANCHES
Tokyo, Oita
OFFICERS
TETSUJI YAMAMOTO, PRES
Eitaro Yamamoto, dir
Yoshinobu Yamamoto, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 813 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 31 M
STARTED 2001 EMPLOYES 150
COMMENT
IMPORTER SPECIALIZING IN COOKWARE. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 7.2 MILLION, 30
DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established
originally in 1970 by Eitaro Yamamoto, on his account, for importing cookware
from USA, and was incorporated in 2001.
Tetsuji is the founder’s son.
The firm, owned and operated solely by the Yamamoto family, specializes
in importing cookware and water purifying equipment. Goods are imported from West Bend, USA, branded “INKOR”. Goods are distributed through agent dealers
and group stores. Also sells online.
Operates cooking classes online, too.
Financials are only partially disclosed.
FINANCIAL INFORMATION
The sales volume for Feb/2006 fiscal
term amounted to Yen 813 million, a 17% sharp drop from Yen 980 million in the
previous term. This is referred largely
to harsher competition among the trade with lower-priced utensils imported and
sold. Similar pans frequently appear on
TV. The firm cut the staff to 150 from the previous 200. The net profit remained similar at Yen 5
million.
For the current term ending Feb 2007
the net profit is projected at Yen 5 million, on a 2% rise in turnover, to Yen
830 million. With weaker Yen the sales
in Yen terms are expected to increase.
The financial situation is considered
RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 7.2 million,
on 30 days normal terms.
REGISTRATION
Date Registered : Aug 2001
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%)
Tetsuji Yamamoto (60)
No. of shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports and wholesales
(including online sales) water purifying systems, evaporators, cooking ware
branded “ANKOR”, other kitchen utensils (--100%). Goods are imported from West Bend, USA. Operates cooking classes online, too.
Clients
Agent dealers, direct-run & group
stores, other
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
[Mfr] Imports from West Bend, USA.
Payment record
Regular
Location
Business area in Fukuoka. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ (Fukuoka)
Bank of Fukuoka (Tenjincho)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual Sales |
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830 |
813 |
980 |
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Recur. Profit |
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.. |
.. |
.. |
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Net Profit |
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5 |
5 |
5 |
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Total Assets |
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N/A |
N/A |
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Net Worth |
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31 |
26 |
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Capital, Paid-Up |
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10 |
10 |
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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 |
2.09 |
-17.04 |
-10.91 |
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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 |
0.60 |
0.62 |
0.51 |
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Notes: Financials are not disclosed
only except the above partial figures.
Forecast (or estimated) figures for
28/02/2007 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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