MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
STUDIO ACCA CO LTD |
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Registered Office : |
Kusuhara Mansion 401, 7-13-32 Minamiaoyama Minatoku Tokyo 107-0062 |
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Country : |
Japan |
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Date of Incorporation : |
Dec 1989 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, retail of clothing & hair accessories |
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 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
STUDIO ACCA CO LTD
REGD NAME
KK Studio Acca
MAIN OFFICE
Kusuhara Mansion 401, 7-13-32 Minamiaoyama Minatoku Tokyo 107-0062 JAPAN
Tel : 03-3409-5054
Fax : 03-3498-7134
URL : http://www.acca.co.jp
E-Mail address: info@acca.co.jp
ACTIVITIES
Import, retail of clothing & hair accessories
STORE(S)
Tokyo (15 including in-shops at department stores)
OFFICERS
HIROMI KUSUHARA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 980 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 170 M
STARTED 1989 EMPLOYES 40
COMMENT
IMPORTER
AND CHAIN SHOP OPERATOR SPECIALIZING IN CLOTHING ACCESSORIES. 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 by Hiromi Kusuhara in order
to make the utmost of her previous experience as Japan representative for Alfa
Romeo, Italy. Prior to taking the
position she had stayed in Italy for many years. This is a chain store operator (a total of 15 stores including in-stores at major
department stores), handling clothing accessories, hair accessories, handbags,
other, for women. Goods are also
wholesaled to department stores, chain stores, specialty stores, etc. Hair accessories are branded as “Acca”. Import agent for Spencer & Rutherford,
Australia, for handbags.
FINANCIAL INFORMATION
The financials are only partially disclosed.
The sales volume for Jul/2006 fiscal term amounted to Yen 980 million, a 7% up from Yen 920 million in the previous term. Demand for luxury goods were seen rising with consumer spending showing signs of recovery. The net profit remained similar at Yen 28 million.
For the current term ending Jul 2007 the net profit is
projected at Yen 28 million, on a 2% rise in turnover, to Yen 1,000
million. Sales could expand further
thanks to weaker Yen that continued.
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: Dec
1989
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Hiromi
Kusuhara (100)
Nothing detrimental is known as to her commercial morality.
OPERATION
Activities: Operator of 15 stores (including in-shops at
department stores) centrally in Tokyo, handling jewelry, accessories, clothing
accessories (70%), bags, stools, hats, gloves, other accessories (--15%), hair
accessories, others, all for women (--15%).
Goods are also imported.
(Wholesaling 65%; retailing 35%)
Clients: [Department stores, consumers] Mitsukoshi, Au
Printemps Ginza, Isetan, Odakyu Department Store, The Ginza, Daimaru, Sanei
International, other.
Operates in-shops at these department stores, too.
No. of accounts: 200 (Wholesale div)
Domestic areas of activities: Centered in greater-Tokyo.
Suppliers: [Mfrs, wholesalers] Imports from Spencer &
Rutherford (as import agent), other from Italy, and other Europe.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Roppongi)
MUFG (Hiroo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/07/2007 |
31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual
Sales |
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1,000 |
980 |
920 |
720 |
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Recur.
Profit |
(*) |
.. |
.. |
.. |
53 |
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Net
Profit |
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28 |
28 |
28 |
30 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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170 |
142 |
114 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.04 |
6.52 |
27.78 |
5.88 |
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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 |
2.80 |
2.86 |
3.04 |
4.17 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/07/2007 fiscal term.
(*) Pretax profits disclosed from the Taxation Office.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)