MIRA
INFORM REPORT
|
Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CREW CO LTD |
|
|
|
|
Registered Office : |
7-1-76 Shinkitajima Suminoeku Osaka 559-0024 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
Mar 1984 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of packaging films, wrapping films,
garbage disposal bags |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
Yen 56.1 millions |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
name
CREW CO LTD
REGD NAME
KK Crew
MAIN OFFICE
7-1-76 Shinkitajima Suminoeku Osaka 559-0024 JAPAN
Tel : 06-6683-3001
Fax : 06-6683-7667
URL : http://www.spec-crew.co.jp/
E-Mail address: info@spec-crew.co.jp
ACTIVITIES
Import, wholesale of packaging films, wrapping films,
garbage disposal bags
BRANCHES
Tokyo; Thailand
FACTORY(IES)
Thailand (subsidiary)
OFFICERS
TAKESHI SHIBAHARA, PRES
Taeko Shibahara, dir
Terumi Kunikata, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,071 M
PAYMENTS REGULAR CAPITAL Yen 67 M
TREND SLOW WORTH Yen 189 M
STARTED 1984 EMPLOYES 35
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN PACKAGING &
WRAPPING FILMS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$250,000 / O/A 60 DAYS.
MAX CREDIT LIMIT: YEN 56.1 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in Sept 1965 by
Takeshi Shibahara as Shoei Corp for wholesaling kitchen & garbage disposal
film bags. In 1984, separated a sales
division to name as captioned, managed by Takeshi Shibahara. Shoei Corp is now wholly owned subsidiary of
the subject. This is a trading house,
with mfg division, for import and wholesale
of PE (plastic) film bags for kitchen, garbage, stationery use. Goods are manufactured at its subsidiary
factory in Thailand. Also, imports from
Korea, China, Taiwan, and other S/E Asian countries. In Aug 1993, approval granted from Tokyo-Metrop government
(Approval No. 16) for garbage disposal bags (calcium carbonated films). In Feb 2000, patent approved for plastic
films & bags (Patent No. 3030026).
Goods are shipped to department stores, chain stores, 100-Yen
convenience stores, volume discount shops, supermarkets, gift shops, other, nationwide.
FINANCIAL INFORMATION
The subject does not disclose full financials. Despite the paid-up capital amount the firm is a family-based firm wholly owned by the Shibahara family.
The sales volume for Dec/2006 fiscal term amounted to Yen 3,071
million, a 17% down from Yen 3,681 million in the previous term. This is referred to the harsher competition
among the trade with lower-priced imports flooding in the markets. The net profit decreased to Yen 26 million,
from Yen 40 million a year ago.
For the current term ending Dec 2007 the net profit is
projected at Yen 25 million, on a 4% rise 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 56.1 million, on 30 days normal terms. The proposed amount is considered well
within the firm’s financial capabilities.
REGISTRATION
Date Registered: Mar
1984
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 5,360
shares
Issued: 1,340
shares
Sum: Yen
67 million
Major shareholders (%): Takeshi
Shibahara (76), Atsushi Shibahara (24)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales plastic packaging/wrapping films
(--100%): plastic film bags for foods (refrigeration & freezing), pickles,
clear files (for stationery, photos), garbage disposal bags, freezer bags;
guava fruits teas (from Thailand), others.
Goods are subcontracted mfg at its subsidiary factory in
Thailand; also imports from China, Korea, Taiwan, and other S/E Asian
countries.
Clients: [Department stores, chain stores, supermarkets, 100-Yen stores] Keio Department Stores, Daiso Sangyo, Yuwa, Co Pro, Gifco, other.
No. of accounts: 1,300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from subsidiary in
Thailand, other from China, Taiwan, Korea, and other S/E Asian countries. Also supplied from Nagase Corp, Inabata
& Co, and subsidiaries (Shoei Corp, Spec Crew, Strong Crew, Challenge
Five), other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Sumiyoshi)
Resona Bank (Sumiyoshi)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
|
Annual Sales |
|
3,200 |
3,071 |
3,681 |
3,783 |
|
Recur. Profit |
|
|
|
|
|
|
Net Profit |
|
25 |
26 |
40 |
36 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
189 |
163 |
126 |
|
Capital, Paid-Up |
|
|
67 |
67 |
67 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.20 |
-16.57 |
-2.70 |
8.83 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.78 |
0.85 |
1.09 |
0.95 |
|
Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 31/12/2007 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%)