MIRA
INFORM REPORT
|
Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ITO SHOJI CO LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
May 1962 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale, retail of
Zippo lighters, pipes, handy ashtray, other |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 186.2 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
name
ITO SHOJI CO LTD
REGD NAME
Ito Shoji KK
MAIN OFFICE
Tel : 03-3562-5811
Fax : 03-3567-7563
URL : http://www.ito-shoji.co.jp
E-Mail
address: Not specified
ACTIVITIES
Import,
wholesale, retail of Zippo lighters, pipes, handy ashtray, other
BRANCHES
Nil
OFFICERS
TETSUO
ITO, PRES Fumio
Akasu, s/mgn dir
Hiroyuki
Kotani, dir Yoshihiro
Kamei, dir
Yorinobu
Okazaki, dir Kenji
Kobayashi
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,105 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND STEADY WORTH Yen
2,147 M
STARTED 1962 EMPLOYES 17
COMMENT
IMPORTER OF ZIPPO LIGHTERS, OTHER. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 186.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Tetsuo Ito in order to
make most of his experience in the subject line of business. This is one of the two official distributors
of Zippo lighters and other products.
Goods include lighters, pipes, handy ashtrays, etc. Also handles cutlery, rubber materials,
chemical products, other. Imports from
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 3,105 million, an 11% down from Yen 3,468 million in the previous term. Prices continued under pressure due to competition. The recurring profit was nearly halved down to Yen 75 million and the net profit at Yen 35 million, down from Yen 91 million a year ago.
For the current term ending Mar 2008 the net profit is projected at Yen 35 million, on a 3% recovery in turnover, to Yen 3,200 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 186.2 million, on 30 days normal terms.
REGISTRATION
Date
Registered: May 1962
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%): Tetsuo
Ito (22)
No. of shareholders: 26
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Distributor of Zippo lighters, pipes, handy ashtrays, other products; imports cutlery, rubber materials, chemical products, other (--100%). Offers repairing services, too.
Clients: [Department stores, business firms, consumers] Tokyu Hands, Bridgestone Corp, Sekisui Chemical Ind, Yasuda Co, Fukashiro Corp, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs] Imports from:
Payment
record: Regular
Location: Business area in
Bank References
MUFG
(Yaesudori)
Mizuho
Bank (Kyobashi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
|
Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual
Sales |
|
3,200 |
3,105 |
3,468 |
3,102 |
|
Recur.
Profit |
|
76 |
75 |
154 |
|
|
Net
Profit |
|
35 |
35 |
91 |
130 |
|
Total
Assets |
|
|
2,492 |
2,437 |
|
|
Current
Assets |
|
|
2,012 |
1,913 |
|
|
Current
Liabs |
|
|
344 |
289 |
|
|
Net
Worth |
|
|
2,147 |
2,129 |
|
|
Capital,
Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.06 |
-10.47 |
11.80 |
2.31 |
|
|
Current Ratio |
|
.. |
584.88 |
661.94 |
.. |
|
N.Worth Ratio |
.. |
86.16 |
87.36 |
.. |
|
|
R.Profit/Sales |
|
2.38 |
2.42 |
4.44 |
.. |
|
N.Profit/Sales |
1.09 |
1.13 |
2.62 |
4.19 |
|
|
Return On Equity |
.. |
1.63 |
4.27 |
.. |
|
Note: Forecast
(or estimated) for the 31/03/2008 fiscal term.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)