MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KINDAI TRADING CO LTD |
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Registered Office : |
FEEL A1 2F, 6-7-1 Minamishinagawa Shinagawaku |
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Country : |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
Oct 1983 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale, retail
(online) of watches, photo frames, stationery |
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 5.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
KINDAI TRADING CO LTD
REGD NAME
Kindai Trading KK
MAIN OFFICE
FEEL A1 2F, 6-7-1
Minamishinagawa Shinagawaku
Tel : 03-3474-1844
Fax : 03-3450-5516
URL : http://www.kindaitrading.co.jp/
E-Mail
address: mail@kindaitrading.co.jp
ACTIVITIES
Import,
wholesale, retail (online) of watches, photo frames, stationery
BRANCHES
Nil
OFFICER(S)
HARUMI
KIJIMOTO, PRES
Takashi
Kijimoto, dir
Hiroshi
Kijimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 290 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
47 M
STARTED 1983 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN TIMEPIECES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$60,000 / O/A 60 DAYS.
MAX
CREDIT LIMIT: YEN 5.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Harumi Kijimoto in order
to reactivate a shell company founded in 1974.
This is a family-based trading company, owned and operated by the
Kijimoto family, for import and wholesale of timepieces, stationery, photo frames,
household items, etc. Goods are imported
from UK, Spain, Germany, China, Thailand, other S/E Asian countries,
other. The firm focuses on imports of
premium goods of higher profitability.
Designer brand watches are imported centrally from Europe, such as
Baskerville, individual, REDECKER,
FINANCIAL INFORMATION
The sales volume for Apr/2006 fiscal term amounted to Yen 290 million, a 37% sharp rise from Yen 211 million in the previous term. Newly started online shop sold well. The net profit was posted at Yen 3 million, compared with Yen 2 million a year ago.
For the term ended Apr 2007 the net profit is believed posted at Yen 3 million, on a 3% rise in turnover, to Yen 300 million. This is thought purely the result of weaker Yen uprising sales in Yen terms. Sales volumes are reported remained almost similar in the previous term.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 5.4 million, on normal 30 days terms. The proposed amount is considered well within the firm’s financial capacities.
REGISTRATION
Date
Registered: Oct 1983
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Harumi Kijimoto (60), Takashi Kijimoto (20), Hiroshi Kijimoto
(20
No. of
shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails, watches, wall clocks, alarm clocks, photo albums, coin cases, metal frames, leather frames, wooden frames, plastic pen cases, tote bags, nylon backsacks, calculators, card holders, key holders, both goods, tweed leg sheets, other household goods and items (--100%).
Goods are also retailed online (these items are listed on the online shop).
Brands imported from
Europe include: Baskerville, individual, REDECKER,
Originally designed goods of watches, wooden/leather frames are
subcontracted mfg to factories in
Clients: [Department stores, chain stores, wholesalers] Sony Plaza, Seibu Department Stores, Matsuya, Tokyu Hands, Sazaby League, Watashi-No Heya Living, The Loft Co, other.
No. of
accounts: 300 (Wholesales Div only)
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from UK, Germany, Spain, other EU countries, China, Thailand, other S/E Asian countries, other.
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Nihombashi-Higashi)
MUFG
(Oimachi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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30/04/2007 |
30/04/2006 |
30/04/2005 |
30/04/2004 |
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Annual
Sales |
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300 |
290 |
211 |
245 |
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Recur.
Profit |
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.. |
.. |
2 |
.. |
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Net
Profit |
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3 |
3 |
2 |
3 |
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Total
Assets |
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N/A |
325 |
N/A |
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Net
Worth |
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47 |
44 |
42 |
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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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100.00 |
100.00 |
100.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.45 |
37.44 |
-13.88 |
-2.00 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
13.54 |
.. |
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N.Profit/Sales |
1.00 |
1.03 |
0.95 |
1.22 |
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Notes:
Financials are only partially disclosed except for the 30/04/2005 fiscal term.
Estimated
figures for the 30/04/2007 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%)