MIRA
INFORM REPORT
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Report Date : |
30.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NOAGE CORPORATION |
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Registered Office : |
Matsuya Bldg 3F, 5-6-14 Sotokanda Chiyodaku |
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Country : |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
July 1996 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Wholesale of gemstones,
jewelry products |
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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
NOAGE CORPORATION
REGD NAME
KK Noage
MAIN OFFICE
Matsuya Bldg 3F,
5-6-14 Sotokanda Chiyodaku
Tel : 03-3836-5880
Fax : 03-3833-1878
URL : N/A
E-Mail
address: noage@kj9.so-net.ne.jp
ACTIVITIES
Wholesale
of gemstones, jewelry products
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
NOBUYOSHI
YAMAGUCHI, PRES
Teruko
Yamaguchi, dir
Masami
Yamaguchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 175 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND SLOW WORTH Yen
29 M
STARTED 1996 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$450,000 / O/A 120 DAYS.
HIGHLIGHTS
The subject company was established by Nobuyoshi Yamaguchi in
order to make most of his experience in the subject line of business. This is a family-based company, starting
originally as a wholesaler of gemstones and jewelry products, and from early
2005 started importing the goods from
FINANCIAL INFORMATION
Financial are disclosed partially and in rounded off
numbers.
The sales volume for May/2006 fiscal term amounted to Yen 175
million, a 3% up from Yen 170 million in the previous term. The imports from
For the term just ended May 2007 the net profit was projected at Yen 1 million, on a 3% rise in turnover, to Yen 180 million. Weaker Yen should have contributed. Business is seen on the upswing.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. The proposed amount, however, is considered TOO HIGH from the current financial status.
REGISTRATION
Date
Registered: July 1996
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Nobuyoshi Yamaguchi (100)
Nothing
detrimental is knows as to his commercial morality.
OPERATION
Activities:
Imports and wholesales gemstones, jewelry products (--100%).
Stones are imported centrally from
Clients: [Jewelry stores, jewelry processors] Kuwayama Corp, Sakha Diamonds, Earrs Corp, Yama Co, other
No. of
accounts: 100
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (Inaricho)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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180 |
175 |
170 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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1 |
1 |
1 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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29 |
28 |
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Capital,
Paid-Up |
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15 |
15 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.86 |
2.94 |
-2.86 |
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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 |
0.56 |
0.57 |
0.59 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures 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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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%)