MIRA
INFORM REPORT
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Report Date : |
13.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
KONDO SHOTEN CO LTD |
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Registered Office : |
2-2-9
Imaizumi Fujimi City Shizuoka-Pref 417-0001 |
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Country : |
Japan |
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Date of Incorporation : |
Oct 1963 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, export and wholesale of
PET film and other engineering plastics. |
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
135.9 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
KONDO SHOTEN CO LTD
REGD NAME
KK Kondo Shoten
MAIN OFFICE
2-2-9 Imaizumi Fujimi City
Shizuoka-Pref 417-0001 JAPAN
Tel : 0545-52-2555
Fax : 0545-53-1158
*.. The given address is its Tokyo Branch at: 4-1 Nihombashi-Kodenmacho Chuoku Tokyo; Tel: 03-3661-7311; Fax: 03-3661-1288
URL : http://www.kondochem.co.jp
E-Mail address: imada@kondochem.co.jp
ACTIVITIES
Import, export, wholesale of PET
film, other engineering plastics
BRANCHES
Tokyo (2), including the one as
given
OFFICERS
YOHEI KONDO, PRES
Sadamichi Numata, dir
Yen Amount : In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,089
PAYMENTS REGULAR CAPITAL Yen 30
TREND SLOW WORTH Yen 1,006 M
STARTED 1963 EMPLOYES 18
COMMENT
TRADING FIRM SPECIALIZING IN PET
FILMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 135.9
MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1916 by Masakichi Kondo in order to market chemical products. Incorporated in 1963, the firm has been succeeded by his descendants. Yohei Kondo is the 4th generation master, who took the office in 2001. This is a trading firm specializing in PET films, magnetic tapes, other engineering plastic products. Sole agent for Garware Polyester Co Ltd, India, for distributing its PET films (Garfilm). Garware Polyester opened its Japan Branch in 2001, but closed down in Apr 2004 and consigned its marketing operations to the subject company, with its former Japan representative, Toshio Ohnuma, joining in the subject firm. The subject also acts as agent for CFC International, USA for marketing specialty coated films, magnetic tapes, etc. Domestically, agent for Mitsubishi Plastics Inc for marketing its engineering plastic film. Clients are major industrial chemical mfrs, wholesalers, etc, nationwide. Goods are imported from India, USA, other.
FINANCIAL INFORMATION
The sales volume for May/2006 fiscal term amounted to Yen 4,089 million, an 8% down from Yen 4,456 million in the previous term. The recurring profit was posted at Yen 176 million and the net profit at Yen 97 million, respectively, compared with Yen 134 million recurring profit and Yen 76 million net profit, respectively, a year ago.
For the current term ending May 2007 the net profit is projected at Yen 98 million, on a 3% rise in turnover, to Yen 4,200 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 135.9 million, on 30 days normal terms.
REGISTRATION
Date Registered : Oct 1963
Legal Status : Limited Company (Kabushiki
Kaisha)
Authorized : 240,000 shares
Issued : 60,000 shares
Sum : Yen 30 million
Major shareholders (%) : Yohei Kondo (76), Taihei Kondo (24)
No. of shareholders : 2
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales PET films (Garfilm), magnetic tapes, specialty coated films (CFC Int’l, USA), engineering plastic films (Mitsubishi Plastics), other engineering plastic products (--100%).
Clients
[Mfrs, wholesalers] Fuji Photo Film Lintec, Tokushu Paper Mfg, Fujimori Kogyo, Nisshinbo Ind, other.
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers
[Mfrs, wholesalers] Garware Polyester (India), CFC International (USA) (both as exclusive agent), other. Domestically, Mitsubishi Corp (as agent), Hitachi Kasei Polymer, Bayer Chemicals Japan, Mitsubishi Corp, other.
Payment record: Regular
Location
Business area in Fuji City, adjacent to Shizuoka City. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Shizuoka Bank (Numazu)
Mizuho Bank (Shizuoka)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
31/05/2007 |
31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual
Sales |
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4,200
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4,089
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4,456
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4,464
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Recur.
Profit |
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176 |
134 |
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Net
Profit |
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98 |
97 |
76 |
89 |
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Total
Assets |
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2,282
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2,131
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Current
Assets |
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1,988
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1,893
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Current
Liabs |
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1,268
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1,208
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Net
Worth |
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1,006
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904 |
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Capital,
Paid-Up |
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30 |
30 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.71 |
-8.24
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-0.18
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-1.85
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Current Ratio |
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156.78
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156.71
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N.Worth Ratio |
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44.08
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42.42
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R.Profit/Sales |
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4.30 |
3.01 |
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N.Profit/Sales |
2.33 |
2.37 |
1.71 |
1.99 |
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Return On Equity |
.. |
9.64 |
8.41 |
.. |
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Note: Forecast (or estimated) for the 31/05/2007 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/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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