MIRA
INFORM REPORT
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Report Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SOKO CO LTD |
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Registered Office : |
1-6-10
Higashi-Nihombashi Chuoku Tokyo 103-0004 |
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Country : |
Japan |
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Date of Incorporation : |
July, 1946 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of artificial turf & lawn and plastic garbage
bags. |
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
27.8 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
name
SOKO CO LTD
REGD NAME
Soko KK
MAIN OFFICE
1-6-10 Higashi-Nihombashi Chuoku
Tokyo 103-0004 JAPAN
Tel: 03-3861-6371
Fax: 03-3861-3432
URL : http://www.style-net.co.jp/
E-Mail address: sokoinfo@style-net.co.jp
ACTIVITIES
Mfg of artificial
turf & lawn, plastic garbage bags
BRANCHES
Osaka, Nagoya,
Sapporo, Sendai, Fukuoka
FACTORY(IES)
Chiba, Oita
OFFICERS
Isao Maki, ch
TETSUO MAKI, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,843 M
PAYMENTS REGULAR CAPITAL Yen 230 M
TREND STEADY WORTH Yen
701 M
STARTED 1954 EMPLOYES 110
COMMENT
MFR SPECIALIZING IN
ARTIFICIAL TURF. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
27.8 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1946 by Isao Maki, on his account, for mfg kitchen utensils and was incorporated in 1954. Tetsuo is the founder’s son. Owned and managed by the Maki family, the firm is a specialized mfr of artificial turf for soccer fields, specifically for “Futsal” soccer, golf driving ranges, tennis courts, and for other sports facilities. The products are also leased to sports facilities. The firm also produces kitchen & tableware, bathroom units, other plastic utensils, golf practicing outfits, etc. Goods are imported through mostly general trading houses. Clients are chain stores, DIY goods chains, sports shops, etc, nationwide.
FINANCIAL INFORMATION
The sales volume for Jun/2005 fiscal term amounted to Yen 2,843 million, a 2% up from Yen 2,780 million in the previous term. Demand rose particularly for soccer fields. Profits improved. The recurring profit was posted at Yen 35 million and the net profit at Yen 28 million, respectively, compared with Yen 31 million recurring profit and Yen 22 million net profit, respectively, a year ago.
For the term ended
Jun 2006 the recurring profit is believed posted at Yen 36 million and the net
profit at Yen 29 million, respectively, on a 4% rise in turnover, to Yen 2,950
million. Final results are yet to be disclosed.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 27.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul 1946
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 1.8 million shares
Issued: 460,780 shares
Sum: Yen 230 million
Major shareholders (%): Isao Maki (20), Tetsuo Maki (10), Takako Tsushima (9), Kimiko Maki (8),
Takehiko Maki (7)
No. of shareholders:
40
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures artificial turf, golf practicing goods, plastic kitchen & tableware, bathroom units, offering design, installation, maintenance services for “Futsal” soccer fields, golf driving ranges, etc (--100%).
The artificial turf
is also rented to sports facilities.
Clients
[Consumer coops, chain stores, sports goods stores, DIY goods chains, sports facilities] All Japan Wholesalers’ Assn, Mizuno Corp, Bridgestone Sports, Daiya Corp, Fujie Inc, Yuwa Co, Gemco, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers
[Mfrs, wholesalers] Sojitz Corp, Marubeni Corp, Mitsubishi Corp, Toyo Chemical, Inabata & Co, Harvest International, NI Teijin Shoji, Soko Style (subsidiary), Asahi Kasei Trading Service, other.
Payment record:
Regular
Location
Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Yokoyamacho)
Resona Bank
(Akihabara)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
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Annual
Sales |
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2,950
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2,843
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2,780
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3,064
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Recur.
Profit |
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36 |
35 |
31 |
33 |
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Net
Profit |
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29 |
28 |
22 |
-191 |
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Total
Assets |
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4,343
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4,563
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5,164
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Current
Assets |
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1,632
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1,830
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1,955
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Current
Liabs |
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1,425
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964 |
1,727
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Net
Worth |
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701 |
672 |
650 |
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Capital,
Paid-Up |
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230 |
230 |
230 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.76 |
2.27 |
-9.27
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-7.77
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Current Ratio |
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114.53
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189.83
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113.20
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N.Worth Ratio |
.. |
16.14
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14.73
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12.59
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R.Profit/Sales |
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1.22 |
1.23 |
1.12 |
1.08 |
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N.Profit/Sales |
0.98 |
0.98 |
0.79 |
-6.23
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Return On Equity |
.. |
3.99 |
3.27 |
-29.38
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Notes: Forecast (or
estimated) figures for 30/06/2006 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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