MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
YAMADA
NURSERIES INC |
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Registered Office : |
1-12-26 Takasu Nishiku Hiroshima
733-0871 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
Jul
1966 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Import,
export, wholesale of seeds & seedlings, plants, flowers; gardening works |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 3.0 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
YAMADA
NURSERIES INC
REGD NAME
KK
Yamada Noen
MAIN OFFICE
1-12-26
Takasu Nishiku Hiroshima 733-0871 JAPAN
Tel : 082-271-1281
Fax : 082-271-1298
URL : http://www.yamaen.co.jp/
E-mail
address: info@yamaen.co.jp
ACTIVITIES
Import,
export, wholesale of seeds & seedlings, plants, flowers; gardening works
BRANCH(ES)
Nil
FACTORY(IES)
Hiroshima
(workshop)
OFFICER(S)
GOJI YAMADA,
PRES Osamu
Sadaki, s/mgn dir
Yoshiko
Yamada, mgn dir Hiroko
Yamada, dir
Sanae
Yamada, dir
Yen
Amount: In million Yen, otherwise
stated.
SUMMARY
FINANCES R/WEAK A/SALES Yen 1837 M
PAYAMENTS REGULAR CAPITAL Yen 45 M
TREND SLOW WORTH Yen
65 M
STARTED 1966 EMPLOYS 33
COMMENT
TRADING HOUSE
SPECIALIZING IN SEEDS & SEEDLINGS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS
MAX CREDIT
LIMIT: YEN 3.0 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject
company was established originally in 1949 by Takashi Yamada for producing
potted plants, on his account.
Incorporated in 1966, the firm has since diversified its operations into
import, export and wholesale of seeds & seedlings, plants, flowers,
interior greens, gardening tools & supplies, other related. Also offers landscaping (including
gardening) works. Goji Yamada is the
founder’s grandson. The founder’s son,
Ryusuke Yamada, is the top shareholder of the firm. Goods are originally imported from Netherlands centrally, but
import sources have been expanded into China, Thailand, Malaysia, Korea, other
S/E Asian countries. Goods are also
exported. Clients include municipal
offices, city offices, floral markets, hotels, restaurants, other. Goods are also retailed on line.
FINANCIAL INFORMATION
The sales volume
for Jun/2006 fiscal term amounted to Yen 837 million, a 14% down from Yen 977
million in the previous term. Hurt by
harsh competition among the trade. The
net profit decreased to Yen 1 million from Yen 3 million a year ago. The financials are only partially disclosed
for the term.
For the
current term ending Jun 2007 the net profit is projected at Yen 1 million, on a
5% rise in turnover, to Yen 880. Weaker
Yen against foreign currencies may assist to push sales amount in Yen terms.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 3.0 million, on 30 days normal terms.
RESIGTRATION
Date
Registered: Jul 1966
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 3,600 shares
Issued: 900 shares
Sum: Yen 45 million
Major
shareholders (%): Ryusuke Yamada (35), Goji Yamada (25), Takashi Yamada (20),
Osamu Sadaki (12),
other
(--Owned by Yamada family and relatives)
No. of
shareholders.. 8
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports seeds & seedlings, dwarf trees/plants, succulent plants, fruit
trees, leafy plants, gardening plants, green interior, cut flowers (yucca, etc),
stems & branches, cut flowers, gardening tools & supplies (beat, plant
foods, etc), others (--82%); gardening and landscaping works (--15%), rental of
these plants, flowers, online shop operation, others (--3%).
Goods
are also exported.
Clients: Public
agencies, business offices, hotels, floral markets, construction firms,
other.
No.
of account. 1,000
Domestic
areas of activities: Centered in Hiroshima-Pref and vicinities
Suppliers:
[Growers, wholesalers] Imports from Netherlands centrally, also from Korea,
China, Thailand, Malaysia, other S/E Asian countries (--imports increasing from
these countries)
Payment
record: Regular
Location:
Business area in Hiroshima. Office
premises at the caption address are owned and maintained satisfactorily.
Bank Reference
Bank
of Hiroshima (Ibi)
Hiroshima
Shinkin Bank (Ibi)
Relations:
Satisfactory
FINANCES
(In
million yen)
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Terms Ending: |
30/06/2006 |
30/06/2005 |
30/06/2004 |
30/06/2003 |
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Annual
Sales |
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837 |
977 |
1,110 |
987 |
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Recur.
Profit |
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3 |
3 |
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Net
Profit |
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1 |
3 |
3 |
1 |
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Total
Assets |
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1,113 |
1,160 |
1,074 |
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Current
Assets |
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476 |
452 |
365 |
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Current
Liabs |
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592 |
624 |
496 |
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Net
Worth |
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66 |
65 |
62 |
59 |
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Capital,
Paid-Up |
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45 |
45 |
45 |
45 |
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Div.P.Share(¥) |
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0 |
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-14.33 |
-11.98 |
12.46 |
2.78 |
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Current Ratio |
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.. |
80.41 |
72.44 |
73.59 |
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N.Worth Ratio |
.. |
5.84 |
5.34 |
5.49 |
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R.Profit/Sales |
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.. |
0.31 |
0.27 |
.. |
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N.Profit/Sales |
0.12 |
0.31 |
0.27 |
0.10 |
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Return On Equity |
.. |
4.62 |
4.84 |
1.69 |
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Notes:
Financials are only partially disclosed for the 31/03/2006 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%)