MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELIZE INCORPORATED |
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Registered Office : |
Dai-San Ashike Bldg, 1-14-29 Shimanouchi
Chuoku Osaka 542-0082 |
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Country : |
Japan |
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Date of Incorporation : |
September 1962 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of industrial sewing machines,
their parts & components. |
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/normal. |
Small |
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Maximum Credit Limit : |
Yen
7.7 millions |
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Status : |
Moderate
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Payment Behaviour : |
Regular
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Litigation : |
-- |
NAME
ELIZE INCORPORATED
REGD NAME
Elize KK
MAIN OFFICE
Dai-San Ashike Bldg, 1-14-29 Shimanouchi Chuoku Osaka 542-0082 JAPAN
Tel: 06-6252-7400
Fax: 06-6251-6365
URL : http://www.elize.co.jp
E-Mail address: mail@elize.co.jp
ACTIVITIES
Export of industrial sewing machines, their parts & components
BRANCHES
(Overseas) Shanghai, Bangalore, Singapore, Miami;
(Subsidiary) Shanghai Rin Mei International Trading Company, Shanghai, China
OFFICERS
FUJIO MINAMINO, PRES
Jun Kawashima, dir
Satoshi Yamashita, dir
Ryoko Kawashima, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,784 M
PAYMENTS REGULAR CAPITAL Yen 26 M
TREND SLOW WORTH Yen 134 M
STARTED 1962 EMPLOYES 34
COMMENT
EXPORTER SPECIALIZING IN INDUSTRIAL SEWING MACHINES. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 7.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Masaru Kawashima for exporting industrial & home-use sewing machines and parts, as Elize Mercantile KK. Renamed as captioned in Apr 1964. In Oct 1964, granted agency agreement from Mitsubishi Electric Corp for exporting its products of industrial sewing machines & clutch motors, followed by exclusive agreement for exporting industrial sewing machines spare parts & components. In Oct 2003, obtained ISO 9001/2000 certification. A trading house for exporting as a mainline industrial sewing machines, their parts & components. Exports to Asia, USA, Europe, Africa, Mid East, other. Goods are partially imported.
FINANCIAL INFORMATION
The sales volume for Jul/2005 fiscal term amounted to Yen 1,784 million, a 1.5% down from Yen 1,927 million in the previous term. The net profit decreased to Yen 11 million from Yen 14 million a year ago. The firm stopped releasing full financials as from the 31/07/2005 fiscal term.
For the term ended Jul 2006 the net profit is believed posted at Yen 12 million, on a 10% rise in turnover, to Yen 1,960 million. Weaker Yen should have contributed to raise sales in Yen terms.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 7.7 million, on 30 days normal terms.
REGISTRATION
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Date Registered |
Sept 1962 |
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Legal Status |
Limited Company (Kabushiki Kaisha) |
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Authorized |
200,000 shares |
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Issued |
50,000 shares |
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Sum |
Yen 25 million |
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Major shareholders (%) |
Fujio Minamino (38), Ryoko Kawashima (22), Jun Kawashima (13), Mitsubishi Electric Corp (10) |
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No. of shareholders |
12 |
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Nothing detrimental is known as to the commercial morality of executives. |
OPERATION
Activities: Exports industrial sewing machines, their parts & components (--100%): industrial sewing machines, embroidery machines, equipment for embroidery (embroidery thread, ultrasonic cutting machines, water soluble films, cutting machines, fusing press machines, needle detectors, strip-cutting machines, tape cutting machines, ultra-sonic spot removing guns, leather production equipment, various genuine spare parts, attachments, erasable pens, others.
Clients
[Mfrs, wholesalers] Exports to China, India, other Asia, USA, Europe, Mid East, Africa, Oceania, Latin America, other.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] For exports supplied from Mitsubishi Electric Corp, Hashima Co, Meiryo Technica Corp, Yamato Sewing Machine Mfg, Hirose Mfg Co, Nitto Boseki Co, Okamoto Koki, Sabun Industrial Co, Suzutami Precision Ind, Suprena Inc, other.
Payment record: Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Semba)
SMBC (Midosuji)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/07/2005 |
31/07/2004 |
31/07/2003 |
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Annual
Sales |
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1,784
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1,927
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1,956
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Recur.
Profit |
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20 |
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Net
Profit |
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11 |
14 |
10 |
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Total
Assets |
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1,927
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Current
Assets |
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665 |
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Current
Liabs |
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411 |
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Net
Worth |
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134 |
123 |
109 |
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Capital,
Paid-Up |
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25 |
25 |
25 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
-7.42
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-1.48
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8.31 |
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Current Ratio |
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161.80
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.. |
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N.Worth Ratio |
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6.38 |
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R.Profit/Sales |
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1.04 |
.. |
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N.Profit/Sales |
0.62 |
0.73 |
0.51 |
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Return On Equity |
.. |
11.38
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9.17 |
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Financials are only
partially disclosed as from the 31/07/2005 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/normal. |
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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