MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PHOENIX CORPORATION |
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Registered Office : |
Shiba Daimon Makita Bldg 7F, 2-5-8 Shiba Daimon Minatoku Tokyo
105-0012 |
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Country : |
Japan |
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Date of Incorporation : |
January, 1982 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports news print paper and other printing paper |
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. |
Small |
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Maximum Credit Limit : |
YEN 24.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
PHOENIX CORPORATION
REGD NAME: KK Phoenix
MAIN OFFICE: Shiba Daimon Makita
Bldg 7F, 2-5-8 Shiba Daimon Minatoku Tokyo 105-0012 JAPAN
Tel:
03-3434-1741 Fax: 03-3433-3642
URL: N/A:
ACTIVITIES: Import, wholesale
of news print paper, other printing paper
BRANCHES: Nil
OFFICERS: TETSUO OGAWA, PRES
Hiroko
Ogawa, dir
Hidehiko
Okada, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 1,378 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
220 M
STARTED 1982 EMPLOYES 7
COMMENT: IMPORTER SPECIALIZING IN
NEWS PRINT PAPER AS AGENT FOR SWEDISH AND OTHER EUROPEAN MFRS.
FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 24.6 MILLION, 30 DAYS NORMAL TERMS.
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HIGHLIGHTS
The subject company was established Tetsuo
Ogawa in order to make most of his previous experience in the subject line of
business. He started the business upon
obtaining sole import agency agreement from Holmen AB, Sweden, for importing
news print papers & other printing papers.
60% of the goods come from this Swedish maker. Clients are leading newspaper publishers nationwide, with about
60% of the sales accounting for Mainichi Newspapers and its group firms. Also exports to India, China, other.
FINANCIAL INFORMATION
Financials are
only partially disclosed.
The sales volume for Mar/2007 fiscal term
amounted to Yen 1,378 million, a 19% down from Yen 1,693 million in the
previous term. This is referred to the hike
of paper products, which only partly passed onto clients. The net profit was posted at Yen 8 million,
compared with Yen 10 million a year ago.
For the current term ending Mar 2008 the net
profit is projected at Yen 8 million, on a 2% rise in turnover, to Yen 1,400
million.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 24.6
million, on 30 days normal terms.
REGISTRATION
Date Registered:Jan 1982
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Hiroko Ogawa (60), Tetsuo Ogawa (40)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports news print paper and other printing paper (--100%).
60% of the products are imported from Holmen AB (Sweden) as its sole import agent.
Clients
[Newspaper publishers, paper dealers] Mainichi Newspaper & its group firms (about 60%), Asahi Shimbun (10%), Sumitomo Corp, Kami Shoji, Itochu Corp, Mitsubishi Corp, Senshukai, Nissen, Toppan Printing, Hakodate Shimbun Co, other.
No. of accounts: 50
Domestic areas of activities: Nationwide
Suppliers
[Paper mfrs] Holmen AB (Sweden) (60%), SCA (Sweden), Burgo (Italy), Bahiasul (Brazil), Leipa, SP Newsprint, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Shimbashi)
SMBC (Hibiya)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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1,400 |
1,378 |
1,693 |
1,637 |
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Recur. Profit |
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Net Profit |
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8 |
8 |
10 |
10 |
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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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220 |
215 |
208 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.60 |
-18.61 |
3.42 |
124.25 |
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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 |
0.57 |
0.58 |
0.59 |
0.61 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/03/2007 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%)