MIRA
INFORM REPORT
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Report Date : |
16.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
FLORA INTERNATIONAL CO LTD |
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Registered Office : |
Elza Bldg 402, 3-13-12 Roppongi Minatoku Tokyo 106-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Jan 1976 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cut flowers |
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 12.8 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
FLORA INTERNATIONAL CO LTD
REGD NAME
KK Flora International
MAIN OFFICE
Elza Bldg 402, 3-13-12 Roppongi Minatoku Tokyo 106-0032 JAPAN
Tel: 03-3470-5601
Fax: 03-3405-5906
URL: N/A
E-Mail address: flora@nifty.com
ACTIVITIES
Import, wholesale of cut flowers
BRANCHES
Narita (Chiba)
OFFICER(S)
SUSUMU SUGIYAMA, PRES
Sumio Kojima, dir
Yoshitaka Noda, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,000 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 122 M
STARTED 1976 EMPLOYES 15
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN CUT FLOWERS. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Susumu Sugiyama in order to make most of his experience in the subject line of business. This is a trading house for import and wholesale of cut flowers, potted flowers, cut leaves, seedlings, other. A pioneer in the business in Japan. Goods are imported from USA, Australia, New Zealand, India, Thailand, Netherlands, etc. Handles gardening tools, too. Clients are flower markets, chain stores, fresh produce markets, florists, other, nationwide. The subject does not disclose full financials only except the following partial figures.
FINANCIAL INFORMATION
The subject does not disclose full financials only except the following partial figures.
The sales volume for Dec/2006 fiscal term amounted to Yen 1,000 million, a 17% down from Yen 1,200 million in the previous term. This is in one part referred to the strong Yen against foreign currencies, depressing its sales amount in Yen terms. The competition among the trade continued. The net profit remained similar at Yen 10 million.
For the current term ending Dec 2007 the net profit is
projected at Yen 10 million, on a 10% rise in turnover, to Yen 1,100
million. The sales amount is expected
to grow on the weaker Yen against foreign currencies, but no forecasts have
been made from the firm, and we have, therefore, estimated rather
conservatively.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 12.8 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jan
1976
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Susumu Sugiyama and executives
(--100)
No. of shareholders: 7
Nothing detrimental is knows as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales cut flowers, cut leaves,
potted flowers, seedlings, gardening tools, others (--100%).
Clients: Flower markets, fresh produce marts, florists, chain stores, other (Details undisclosed)
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Growers, wholesalers] Imports from USA, New
Zealand, Australia, Netherlands, Thailand, India, Singapore, Malaysia, Taiwan,
Korea, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Hibiya)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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1,100 |
1,000 |
1,200 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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10 |
10 |
10 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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122 |
112 |
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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 |
10.00 |
-16.67 |
20.00 |
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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 |
0.91 |
1.00 |
0.83 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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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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%)