MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MARUYOSHI SHOTEN CO LTD |
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Registered Office : |
119-3 Nakayashiki Nishikata Mitocho Hoigun Aichi-Pref 441-0312 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
Aug 1952 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of feeds, seedling, other |
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 33.2 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
MARUYOSHI SHOTEN CO LTD
REGD NAME
KK Maruyoshi Shoten
MAIN OFFICE
119-3 Nakayashiki Nishikata Mitocho Hoigun Aichi-Pref 441-0312 JAPAN
Tel : 0533-76-2101
Fax : 0533-76-2102
*.. The given address is its Branch Office (Warehouse) at: 45
Yonowaru Jinnoshindencho
Toyohashi City Aichi-Pref, as given
URL :
http://www.maruyoshi-shoten.com
E-Mail address: maruyoshi@delux.ocn.ne.jp
ACTIVITIES
Import, wholesale of feeds, seedling, other
BRANCHES
Toyohashi (as given)
FACTORY(IES)
At the caption address, Toyohashi (--warehouses)
OFFICERS
Shozo Yoshikawa, ch
TAKESHI YOSHIKAWA, PRES
Akifumi Aizawa, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,580 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 159 M
STARTED 1952 EMPLOYES 18
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN FERTILIZER & FEEDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 33.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1930 by
Masaharu Yoshikawa, on his account, for
selling animal feeds & fertilizers. Incorporated in 1952, the firm has been
succeeded by his descendants. His son, Shozo Yoshikawa (now ch), took the pres
office in 1981, and grandson, Takeshi Yoshikawa, in 2001, respectively. This is a trading firm, owned and operated
by the Yoshikawa family, specializing in importing fertilizers, feeds, seeds
& seedlings, gardening supplies, other.
Clients are farm coops, farmers, cattle farmers, egg farmers, etc.
FINANCIAL INFORMATION
The sales volume for Aug/2006 fiscal term amounted to Yen 1,580 million, a slight down from Yen 1,584 million in the previous term. The recurring profit was posted at Yen 15 million and the net profit at Yen 1 million, respectively, compared with Yen 2 million recurring profit and Yen 1 million net profit, respectively, a year ago.
For the current term ending Aug 2007 the net profit is
projected at Yen 1 million, on a 1% rise in turnover, to Yen 1,600
million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 33.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug
1952
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 200,000
shares
Sum: Yen
10 million
Major shareholders (%): Shozo Yoshikawa and families (--100)
No. of shareholders: 9
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Imports and wholesales:
Cattle Div: animal feeds & mixture, fodder, pasture grass, rice straw, assorted fertilizers, livestock foods & supplement, livestock equipment & supplies;
Horticultural Div:
seeds & seedlings, fertilizers, molding, other gardening equipment &
supplies (--100%).
Clients: [Farm coops, cattle raisers, farmers] Green Some
Seeds, Nakakita Yakuhin, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp, Nippon
Formula Feed Mfg, Sojitz Corp, Sumitomo Corp, Kanematsu Corp, ACX, Syngenta
Japan, Nosan Corp, other.
Payment record: Regular
Location: Business area in Hoigun, Aichi-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
MUFG (Toyokawa)
Shoko Chukin Bank (Toyohashi)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual
Sales |
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1,600 |
1,580 |
1,584 |
1,706 |
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Recur.
Profit |
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15 |
2 |
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Net
Profit |
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1 |
1 |
1 |
3 |
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Total
Assets |
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519 |
498 |
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Current
Assets |
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348 |
337 |
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Current
Liabs |
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275 |
267 |
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Net
Worth |
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159 |
158 |
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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 |
1.27 |
-0.25 |
-7.15 |
-10.82 |
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Current Ratio |
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.. |
126.55 |
126.22 |
.. |
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N.Worth Ratio |
.. |
30.64 |
31.73 |
.. |
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R.Profit/Sales |
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.. |
0.95 |
0.13 |
.. |
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N.Profit/Sales |
0.06 |
0.06 |
0.06 |
0.18 |
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Return On Equity |
.. |
0.63 |
0.63 |
.. |
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Note: Forecast (or estimated) for the 31/08/2007 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%)