MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
KYOEI SEICHA CO LTD |
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Registered Office : |
Seyama Bldg 5F, 5-1-1 Nishitenma Kitaku Osaka 530-0047 |
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Country : |
Japan |
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Date of Incorporation : |
June 1940 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export & Wholesale of Coffee, Black Tea |
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 97.2 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
KYOEI SEICHA CO LTD
REGD NAME: Kyoei Seicha KK
(Seicha means tea mfg)
ADDRESS
MAIN OFFICE:
Seyama Bldg 5F, 5-1-1 Nishitenma Kitaku Osaka 530-0047 JAPAN
Tel : 06-6363-3712
Fax : 06-6361-3293
URL : http://www.kyoeiseicha.co.jp
E-mail : info@kyoeiseicha.co.jp
ACTIVITIES
Japanese tea processor; import, export & wholesale of
coffee, black tea
BRANCHES
Kyoto, Tokyo, Nagoya
FACTORY(IES)
Kyoto (4)
OFFICERS
YASUHIRO MORISHITA, PRES Tsukasa
Maekawa, s/mgn dir
Shigeru Nakamoto, mgn dir Masanori
Satoh, mgn dir
Yasuhiro Matsumoto, dir Hirohisa
Nagahara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,448 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND STEADY WORTH Yen 446 M
STARTED 1940 EMPLOYES 119
COMMENT
JAPANESE TEA PROCESSOR; IMPORT, EXPORT OF BLACK TEAS &
CONFFEE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 97.2 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established originally in 1936 for
producing Japanese green tea and was incorporated in 1940. This is a producer of Japanese green teas centrally,
and handles coffee & black teas, too.
In Feb 1962 signed with MJB Coffee (USA) and established MJB Coffee Mfg
Co. In Oct 1992 entered into licensing
agreements with Royal Doulton Japan and began marketing black teas. In Sept 1998 developed Royal Albert
Tea. Products are both imported and
exported. Clients include department
stores, foodstuff wholesalers, other, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2007 fiscal term amounted to Yen
5,448 million, a 21% up from Yen 4,515 million in the previous term. This is attributed to taking over business
from one of its group firms, that boosted sales. Exports of Japanese green teas rose. The net profit was posted at Yen 41 million, down from Yen 136
million a year ago. The last term’s
profits included extraordinary incomes coming from the revaluation of inventories,
etc.
For the current term ending Feb 2008 the net profit is
projected at Yen 42 million, on a 2% rise in turnover, to Yen 5,550
million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 97.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1940
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
3.6 million shares
Issued :
900,000 shares
Sum :
Yen 45 million
Major shareholders (%): Yasuhiro Matsumoto (25), Yasuhiro
Morishita (17), Employees’ S/Holding Assn (15), Kyoei Foods (13), Shozo
Morishita (7)
No. of shareholders: 30
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Produces, imports and exports Japanese green
teas, coffee, black teas, others (--100%).
Coffee brands: Black Mountain, Mocha Matari, Kilimanjaro,
etc.
Black Tea brands: Royal Doulton Tea, Minton Tea, Royal
Albert Tea, etc.
Clients: [Department stores, foodstuffs wholesalers, chain stores]
Hankyu Department Stores, Hankyu Oasis, Ryoshoku Ltd, Itochu Corp, Keihan
Department Store, Kintetsu Department Store, Meitetsu Department Store,
other..
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Zen-Noh Coop Kyoto,
Mitsubishi Corp, Cargill Japan, KK Sanwa,
Kataoka & Co, other.
Payment record
Regular
Location
Business area in Osaka.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Osaka)
Bank of Kyoto (Uji)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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28/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual Sales |
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5,550
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5,448
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4,515
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3,969
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Recur. Profit |
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Net Profit |
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42 |
41 |
136 |
15 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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446 |
405 |
269 |
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Capital, Paid-Up |
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45 |
45 |
45 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.87 |
20.66
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13.76
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-5.00
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.76 |
0.75 |
3.01 |
0.38 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) for the 29/02/2008 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. |
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%)