MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MAYFAIR CO LTD |
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Registered Office : |
6-17 Hatobamachi Chuoku Kobe 650-0042 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1991 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale, online retail
of radios, ovens, clothing, furniture, beddings, other household goods |
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 9.3 millions |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
MAYFAIR CO LTD
REGD NAME
KK Mayfair
MAIN OFFICE
6-17 Hatobamachi Chuoku Kobe 650-0042 JAPAN
Tel : 078-366-6311
Fax : 078-366-6312
*.. The given address is its warehouse at: Nichien No. 3 Warehouse, 6-3 Minatojima Chuoku Kobe 650-0045, as given.
URL : http://www.mayfair-17.co.jp/
E-Mail address: info@mayfair-17.co.jp
ACTIVITIES
Import, wholesale, online retail
of radios, ovens, clothing, furniture, beddings, other household goods
BRANCHES
Kanazawa (Ishikawa) (Overseas
trading division)
OVERSEAS
China (3)
FACTORY(IES)
At the caption address, Minatojima
as given (--warehouses)
OFFICER(S)
SEIJI MIYAUCHI, PRES
Ryota Hara, dir
Goro Miyauchi, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 515 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 52 M
STARTED 1991 EMPLOYES 4
COMMENT
TRADING HOUSE SPECIALIZING IN HOUSEHOLD GOODS &
EQUIPMENT. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$100,000 / O/A 60 DAYS
MAX CREDIT LIMIT: YEN 9.3 MILLION,
30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
by Seiji Miyauchi in order to make most of his previous experience in the
subject line of business in foreign trading.
This is a trading house specializing in household goods, such as
clothing, small furniture items, towels, portable radios, toasters, cosmetics,
toiletries, etc. Also handles
horticultural & gardening tools & supplies. Goods are imported widely from China, USA, UK, Netherlands,
France, Italy, Belgium, Korea, other.
Has two purchasing offices in China.
Imports from China are rising, while those from Europe are seen
decreasing due to the extremely weaker Yen against Euros, making import costs a
lot higher and unable to pass onto consumers for the overage. Clients are chain stores, supermarkets,
specialty stores, other. Actively retails
them online (Mayfair Online), too.
FINANCIAL INFORMATION
The firm stopped releasing full financials with the last as of the 31/03/2002 fiscal term. Only partial figures are being disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 515 million, a slight rise from Yen 510 million in the previous term. Imports from China rose, particularly at competitively lower prices in the downstream markets. The net profit was posted at Yen 4 million, up from Yen 3 million a year ago.
For the term just ended Mar/2007
the net profit is believed posted at Yen 4 million, on a 3% rise in turnover,
to Yen 530 million.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 9.3
million, on 30 days normal terms. The
proposed amount for 60 days terms is considered within the firm’s financial
capacities.
REGISTRATION
Date Registered: Sept 1991
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major shareholders (%): Seiji
Miyauchi (83), Ryota Hara (3), other
No. of shareholders: 7
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails (online): clothing, beddings, furniture, towels, bathrobes, portable radios, toasters, kitchen wares, cosmetics, hair-care goods, toiletries, stationery, gardening tools & supplies, other household items (--100%)
Clients: [Specialty stores, wholesalers, chain stores,
consumers] Edion Corp, Nishikawa Living, Romance Kosugi, Sony Plaza, Sumisho
Drugstore, Denkodo, Shogakukan Production, Isetan,
Yamagiwa Corp, other.
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers]
Roweltt Rutland, Connolly, Robert Radio (--UK), Pillowtex, Westpoint Home Inc (--USA), other from
China, UK, USA, Netherlands, Italy, Belgium, France,
Korea, etc. Also supplied from Nomura
Trading and some other domestic suppliers.
Payment record: Regular
Location: Business area in
Kobe. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
MUFG (Kobe-Chuo)
Resona Bank (Kobe)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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530 |
515 |
510 |
436 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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4 |
4 |
3 |
1 |
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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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52 |
48 |
45 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
2.91 |
0.98 |
16.97 |
-18.96 |
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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 |
0.75 |
0.78 |
0.59 |
0.23 |
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Notes: Financials are only partially
disclosed from the 31/03/2003 fiscal term.
Forecast (or estimated) figures
for the 31/03/2007 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%)