MIRA
INFORM REPORT
|
Report Date : |
17.07.2007 |
IDENTIFICATION
DETAILS
|
Name : |
COSMIC FUNAI CORPORATION |
|
|
|
|
Registered Office : |
Daini Isogami Bldg 411, 2-1-7 Gokodori Chuoku Kobe 651-0087 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
Apr 1991 |
|
|
|
|
Legal Form : |
Private Limited Company (Yugen
Gaisha) |
|
|
|
|
Line of Business : |
Export of bearings |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 3.9 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
name
COSMIC FUNAI CORPORATION
REGD NAME
YK Cosmic Funai
MAIN OFFICE
Daini Isogami Bldg 411, 2-1-7 Gokodori Chuoku Kobe 651-0087 JAPAN
Tel : 078-222-3120
Fax : 078-222-2750
URL : N/A
ACTIVITIES
Export of bearings
BRANCHES
Nil
OFFICERS
HIROSHI FUNAI, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 200 M
PAYMENTS REGULAR CAPITAL Yen 3.5 M
TREND SLOW WORTH Yen 21 M
STARTED 1991 EMPLOYES 2
COMMENT
TRADING
FIRM SPECIALIZING IN EXPORTING BEARINGS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 3.9 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Hiroshi Funai in order
to make most of his experience in the subject line of business. This is a one-man operated trading firm
specializing in exporting ball bearings, roller bearings, other. Export destinations are centrally Europe &
USA. Goods are also imported.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 200 million, a 13% down from Yen 230 million in the previous term. Exports decreased amid slackening demand. The net profit remained similar at Yen 2 million.
For the term just ended Mar 2007 the net profit was projected
at Yen 2 million, on a 10% rise in turnover, to Yen 220 million. Weaker Yen should have contributed.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 3.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1991
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: Yen
3.5 million
Major shareholders (%): Hiroshi
Funai (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Exports ball bearings, roller bearings, other
bearings (--100%). Goods are also
imported.
Exports to: Germany, France, Switz, UK, USA, Singapore,
other.
Clients: [Mfrs, wholesalers] Exports to Europe: France, UK, Switz, Germany, other to USA, Singapore, etc.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] For exports, supplied from
Nippon Bearing, Sapporo Precision, Wada Seiko Co, Nakai Jikuuke Seisakusho,
other.
Payment record: Regular
Location: Business area in Kobe. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Kinki Osaka Bank (Kobe)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual
Sales |
|
220 |
200 |
230 |
|
|
Recur.
Profit |
|
.. |
.. |
.. |
|
|
Net
Profit |
|
2 |
2 |
2 |
|
|
Total
Assets |
|
|
N/A |
N/A |
|
|
Net
Worth |
|
|
21 |
19 |
|
|
Capital,
Paid-Up |
|
|
3 |
3 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
10.00 |
-13.04 |
12.20 |
||
|
Current Ratio |
|
|
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
||
|
N.Profit/Sales |
0.91 |
1.00 |
0.87 |
||
Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/03/2007 fiscal term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)