MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
WING INTERNATIONAL CO LTD |
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Registered Office : |
Alfa Shin-Yokohama Ryutsu Center 3F, 2-3-10 Shin-Yokohama Kohokuku
Yokohama 222-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1993 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of stuffed toy
animals, dolls, fancy goods |
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 8.5 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
WING INTERNATIONAL CO LTD
REGD NAME
KK Wing International
MAIN OFFICE
Alfa Shin-Yokohama Ryutsu Center 3F, 2-3-10 Shin-Yokohama Kohokuku
Yokohama 222-0033JAPAN
Tel : 045-931-6821
Fax : 045-931-6831
URL : http://www.alfa-yokohama.co.jp/ (Of the parent, Alfa
Co Ltd)
E-Mail address: info@alfa-yokohama.co.jp
ACTIVITIES
Import, wholesale of stuffed toy animals, dolls, fancy goods
BRANCHES
Tsuzukiku, Yokohama (distribution center)
FACTORY(IES)
(subcontracted) Shanghai, Guangzhou (--China)
OFFICER(S)
TOSHIHISA TACHIBANA, PRES
Shigeru Nakamura, dir
Toshikazu Matsumoto, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 590 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 52 M
STARTED 1993 EMPLOYES 6
COMMENT
TRADING HOUSE SPECIALIZING IN STUFFED ANIMALS & OTHER FANCY
GOODS, WHOLLY OWNED BY ALFA CO LTD. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 8.5 MILLION, 30 DAYS TERMS, ALL CREDITS ARE RECOMMENDED WITH SECURED TERMS.
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HIGHLIGHTS
The subject company was established on the basis of the overseas trading division separated from Alfa Co Ltd, mfr of stuffed animals & dolls, casual wear at the caption address (see REGISTRATION). This is a trading house for import and wholesale of stuffed toy animals & dolls, fancy watches, key-holder watches, other fancy goods. Management and operations are integrated with the parent. Has two purchasing offices in China (with subcontracted factories). Goods are imported from China, Hong Kong, Taiwan, other.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 590 million, a 1.4% up from Yen 582 million in the previous term. Imports continued to increase on expansion of clientele networks to chain stores. The net profit remained similar at Yen 5 million.
For the current term ending Mar 2008 the net profit is projected
at Yen 5 million (marking time), on a 2% rise in turnover, to Yen 600
million. Weaker Yen is expected to
increase sales in Yen terms.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 8.5 million, on 30 days, all credits are
recommended on securely guaranteed terms.
This is because the parent company applied for protection under the
Civil Rehabilitation Law on 18/06/2007 (See REGISTRATION).
REGISTRATION
Date Registered: Sept 1993
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Alfa Co
Ltd*(100)
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Mfr of stuffed animals, casual wear at the caption address,
founded 1981, capital Yen 263 million, turnover Yen 6,700 million, employees
180, pres Toshihisa Tachibana. The firm
applied for court protection under the Civil Rehabilitation Law on 18/06/2007
and proceedings started on 20/08/2007.
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The liabilities are reported at Yen 7,000 million.
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The firm newly elected Tomoko Tsukuda as pres of the firm,
with Toshihisa Tachibana retired. His
son, Jun’ya Tachibana is elected as s/mgn dir.
All effective of 18/06/2007.
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Business is being conducted as usual under the court
protection.
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales stuffed doll animals, dolls, key-holder watches, fancy watches, other fancy goods (--100%).
Goods are imported from China, Taiwan, Hong Kong, other.
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Clients: [Toy mfrs, toy shops, chain stores, entertainment centers] Alfa Co, Sega Enterprises, Namco, Aeon Fantasy, Taito Corp, Matahari Co, Eight Leisure Bussan, Fun Field, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Alfa Co, Sanrio Co,
other.
Also imports from China, Taiwan, Hong Kong, etc.
Payment record: Regular
Location: Business area in Yokohama. Office premises at the caption address are owned by the parent,
Alfa Co Ltd, and maintained satisfactorily.
Bank References
Bank of Yokohama (Shin-Yokohama)
Resona Bank (Shin-Yokohama)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual Sales |
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590 |
582 |
522 |
480 |
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Recur. Profit |
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5 |
13 |
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Net Profit |
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5 |
5 |
10 |
16 |
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Total Assets |
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238 |
254 |
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Current Assets |
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233 |
250 |
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Current Liabs |
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106 |
85 |
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Net Worth |
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52 |
47 |
37 |
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Capital, Paid-Up |
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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 |
1.37 |
11.49 |
8.75 |
.. |
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Current Ratio |
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219.81 |
294.12 |
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N.Worth Ratio |
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21.85 |
18.50 |
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R.Profit/Sales |
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0.86 |
2.49 |
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N.Profit/Sales |
0.85 |
0.86 |
1.92 |
3.33 |
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Return On Equity |
.. |
9.62 |
21.28 |
43.24 |
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Notes: Figures for the 31/03/2006 fiscal term are exact, but
no further details disclosed.
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%)