MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
FAST TRADING CO LTD |
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Registered Office : |
5-4-23 Sumiyoshi Kofu Yamanashi-Pref 400-0851 |
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Country : |
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Date of Incorporation : |
May 1990 |
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Com. Reg. No.: |
0900-01-001815 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of jewelry |
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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
FAST TRADING CO LTD
REGD NAME: KK Fast Trading
ADDRESS
MAIN OFFICE
5-4-23 Sumiyoshi Kofu Yamanashi-Pref 400-0851 JAPAN
Tel :
055-227-6001
Fax :
055-227-6002
URL : N/A
E-mail :
Not disclosed
ACTIVITIES
Import, wholesale of jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
YOICHI AOYAGI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 200-300 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 50 M*
STARTED 1990 EMPLOYES 1
*.. Estimated figures only, as financials are not disclosed.
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR
CREDIT ENGAGEMENTS: US$50,000 / O/A 30
DAYS.
HIGHLIGHTS
The subject company was established by Yoichi Aoyagi in
order to make most of his experience in the subject line of business. This is a one-man company, owned and operated
solely by the Aoyagi family, for importing and wholesaling jewelry. All the listed directors (3) and auditor (1)
are of the Aoyagi family. The firm
declined again (successively for two years) to disclose any of its management
and financials details, saying that his is a family-based firm and financials
are only disclosed to limited parties, including the main bank. The firm further says its clients are
well-informed of the operations and financials from long-standing business
relationships. No other database
information is available, either. Hence,
the information contained in this report is based on the registration
certificate we have obtained. The
following figures are all estimated by us based on the business results of
fellow traders in the similar line of business including the staff members.
FINANCIAL INFORMATION
The sales volume for Apr/2007 fiscal term is estimated
amounted to Yen 250 million, a 25% rise from Yen 200 million in the previous
term. Imports increased. Also weaker Yen contributed much to the
growth. The net profit remained similar
at Yen 5 million. Further details remain
unavailable. The net worth as of
Apr/2007 is only estimated at Yen 50 million.
For the current term ending Apr 2008 the net profit is
projected at Yen 5 million, on a 20% rise in turnover, to Yen 300 million. Weaker Yen should contribute to increased
sales in Yen terms. Business is seen on
the upswing.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 3.6 million, 30 days terms,
calculated on the available/estimated figures only. The proposed amount is considered TOO HIGH
from the recent/estimated financial status.
We recommend all & any credits on new transactions to be under
guarantee. This is because the proven
business are not disclosed and unavailable.
REGISTRATION
Date Registered : May
1990
Registered No :
0900-01-001815
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%): Yoichi Aoyagi & families
(--100).
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales jewelry (100%).
Clients: Jewelry processors, jewelry stores, other (Details
unavailable)
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo,
including
Suppliers: [Mfrs, wholesalers] Imports from
Payment record
Regular
Location
Business area in
Bank References
Yamanashi Shinkin Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million
Yen)
Not available
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%)