MIRA
INFORM REPORT
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Report Date : |
23rd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
MANAS
TRADING INC |
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Registered Office : |
Evergreen Bldg 2F, 3-3-2 Nakameguro Meguroku
Tokyo 153-0061 Japan |
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Country : |
Japan |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
November
1984 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale, import of curtains,
interior fabrics |
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 14.5 Million |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name
MANAS TRADING INC
*.. The given name “Manas-Tex” is brand name.
REGD NAME
Manas Trading KK
MAIN OFFICE
Evergreen Bldg 2F, 3-3-2 Nakameguro Meguroku Tokyo
153-0061 JAPAN
Tel :
03-3792-7411
Fax :
03-5721-2832
URL : http://www.manas.co.jp
E-Mail address : (thru the URL)
ACTIVITIES
Wholesale, import of curtains, interior
fabrics
BRANCHES
Tokyo, Osaka, Nagoya, Hiroshima (--show
rooms); Fukuoka (open mid Dec)
STORE(S)
Tokyo (2), Osaka (--in-shops)
OFFICERS
SHIN’ICHI SAITOH, PRES Atsuhiko Tsutsui, dir
Yoshiko Kokido, dir Katsumi
Takayama, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,572 M
PAYMENTS REGULAR CAPITAL Yen 121 M
TREND STEADY WORTH Yen 134 M
STARTED 1984 EMPLOYES 64
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN
CURTAINS & OTHER UPHOLSTERY FABRICS.
FINANCIAL SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14.5 MILLION, 30
DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
originally at Sarugakucho Shibuyaku and moved the
Headquarters to the caption address in 2002. This is a trading house for import
and wholesale of curtains, curtain cloths, other upholstery fabrics. Goods are also retailed at 3 in-shops in
department stores. Has 4 show rooms
with collection of famous brand upholstery fabrics & products (see
OPERATION). Additional show room is
scheduled open in Fukuoka in mid-Dec
this year. Goods are imported mostly
through general trading houses. The
financials are only partially
disclosed.
FINANCIAL INFORMATION
The sales volume for Feb/2006 fiscal
term amounted to Yen 1,572 million, a 12% up from Yen 1,399 million in the
previous term. Demand rose as housing
market revived with condominiums starting built in the center of cities. Weaker Yen also contributed. The net profit was posted at Yen 3 million,
compared with Yen 1 million a year ago.
For the current term ending Feb 2007
the net profit is projected at Yen 3 million, on a 5% rise in turnover, to Yen
1,650 million. Weaker Yen may
contribute, too.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 14.5
million, on 30 days normal terms.
REGISTRATION
Date Registered : Nov 1984
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 9,680 shares
Issued :
2,425 shares
Sum :
Yen 121.29 million
Major shareholders (%)
Shin’ichi Saitoh (16.5), Mitsui &
Co (16.3), Deco Sasaki (12.7), Tokio Oda
(8.9), Takatoshi Tao (8.0)
No. of shareholders: 31
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Imports and wholesales
(partially retails) curtains, curtain cloths, other uphol stery fabrics (--100%).
Show room & collection of upholstery: Manas-Tex, Sahco, Sahco- ULF Moritz, Sahco – Lori Weitzner, Jim Thompson, Elitis, Osborne & Little, Nina Campbell, Lorca, Sanderson, William Morris, Backhausen, Anna French, Chase Erwin, John Boyd Textiles Ltd, other.
Clients
[Department stores, chain stores,
wholesalers] Hankyu Department Stores, Isetan, Manas & Morris, Sumitomo
Forestry Co, Mitsui Designtech, Yamagiwa Corp, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Mitsui & Co,
Itochu Corp, Ionia Ltd, JFE Shoji Matech, Silent Gliss Corp, other.
Payment record: Regular
Location
Business area Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ (Meguro)
SMBC (Jiyugaoka)
Relations: Satisfactory.
FINANCES
(In
Million Yen)
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Terms Ending: |
28/02/2007 |
28/02/2006 |
28/02/2005 |
28/02/2004 |
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Annual Sales |
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1,650 |
1,572 |
1,399 |
1,181 |
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Recur. Profit |
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29 |
29 |
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Net Profit |
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3 |
3 |
1 |
1 |
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Total Assets |
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869 |
889 |
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Current Assets |
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663 |
572 |
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Current Liabs |
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250 |
375 |
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Net Worth |
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134 |
131 |
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Capital, Paid-Up |
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121 |
121 |
121 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.96 |
12.37 |
18.46 |
10.79 |
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Current Ratio |
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265.20 |
152.53 |
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N.Worth Ratio |
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15.42 |
14.74 |
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R.Profit/Sales |
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1.84 |
2.07 |
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N.Profit/Sales |
0.18 |
0.19 |
0.07 |
0.08 |
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Return On Equity |
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2.24 |
0.76 |
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Note: Forecast (or estimated) for the
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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