MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
AIM SERVICES CO LTD |
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Registered Office : |
Bussan Bldg Annex, 1-1-15 Nishishimbashi Minatoku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
May 1976 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Food service system for schools,
hospitals; staffing services; linen supply |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 2978 millions |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
AIM SERVICES CO LTD
(Bakery & Café: Rosso Cuore)
REGD NAME
Aim Service KK
MAIN OFFICE
Bussan Bldg Annex,
1-1-15 Nishishimbashi Minatoku
Tel : 03-3502-3721
Fax : 03-3502-6580
*.. The given address is its Fukuoka Branch Office (Bakery shop is operated by name of Rosso Cuore).
URL : http://www.aimservices.co.jp
E-Mail address: info@aimservices.co.jp
ACTIVITIES
Food service
system for schools, hospitals; staffing services; linen supply
BRANCHES
FACTORY(IES)
(subcontracted)
OFFICERS
HISAO ISHIDA, PRES Yoshio Kamata, s/mgn
dir
Hirosuke Osada,
dir Kazutoshi
Muramatsu, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 138,726
PAYMENTS REGULAR CAPITAL Yen 1,909
TREND STEADY WORTH Yen
10,507
STARTED 1976 EMPLOYES 1,769
COMMENT
FOOD SUPPLY SERVICES OPERATOR, AFFILIATED TO MITSUI & CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2,978 MILLION, 30 DAYS NORMAL TERMS. .
Notes:
Forecast figures for the 31/03/2008 fiscal term.
HIGHLIGHTS
The subject company was established as a JV by Aramark
Corporation,
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 138,726 million, a 13.8% up from Yen 121,887 million in the previous term. Services to hospitals & nursing care centers grew. Food division grew 8.4% to Yen 121,391 million; Office coffee div rose as much as 100.1% to Yen 8,611 million, thanks to the takeover of an office coffee service co, Yamato KK.; staffing was up 14.7% to Yen 5,859 million. The recurring profit was posted at Yen 4,613 million and the net profit at Yen 2,398 million, respectively, compared with Yen 3,800 million recurring profit and Yen 1,596 million net profit, respectively, a year ago. The improved profits for the term include extraordinary income of Yen 331 million, coming from the sale of stockholdings and subsidiaries.
For the current term ending Mar 2008 the recurring profit is projected at Yen 4,700 million and the net profit at Yen 2,400 million, respectively, on an 8.1% rise in turnover, to Yen 150,000 million. Business is seen growing steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2,978 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1976
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 28 million shares
Issued: 11,507,826 shares
Sum: Yen 1,909.97 million
Major shareholders (%): Mitsui & Co*(48.2), Aramark
Services Inc (USA) (26.7), Aramark
Ninomiya (0.1)
No. of shareholders: 27
*.. Nation’s top-ranked general trading house, Tokyo, founded 1947, listed Tokyo, Osaka, Nagoya, Sapporo, Fukuoka, NASDAQ S/E’s, capital Yen 323,213 million, turnover Yen 15,357,656 million, recurring profit Yen 330,140 million, net profit Yen 301,502 million, total assets Yen 9,813,312 million, net worth Yen 2,110,279 million, employees 41,761, pres Shoei Utsuda
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Food
& beverage services, staffing services, other related services:
(Sales breakdown by divisions):
Business Dining Services (43.8%): food supply
services for companies, schools, etc;
Healthcare Support Services (41.9%): services for
hospitals, social welfare facilities, etc;
Specialty Services (5.6%): personal services, facility services, operates restaurants, cafes, beverage services, total management services for conference & seminar facilities, company resorts, and for sports competitions & events, other;
Support Services (8.7%): design, cleaning and facilities management, linen supply, uniform rental, contract staffing, etc for dining facilities, other.
Clients: [Business offices, hospitals, schools] Toshiba Corp, Sony Corp, Mitsui & Co, Isuzu Motors, Toyota Motor, other.
No. of accounts:
2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Your Kitchen Services, other.
Payment record:
Regular
Location: Business area in
Bank References
SMBC (Hibiya)
Chuo Mitsui Trust
Bank (Nihombashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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138,726 |
121,887 |
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Cost of Sales |
121,656 |
107,420 |
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GROSS PROFIT |
17,070 |
14,466 |
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Selling & Adm Costs |
12,516 |
10,721 |
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OPERATING PROFIT |
4,553 |
3,745 |
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Non-Operating P/L |
60 |
55 |
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RECURRING PROFIT |
4,613 |
3,800 |
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NET PROFIT |
2,383 |
1,596 |
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BALANCE SHEET |
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Cash |
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6,889 |
8,833 |
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Receivables |
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12,935 |
12,176 |
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Inventory |
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1,474 |
1,401 |
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Securities, Marketable |
99 |
99 |
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Other Current Assets |
3,949 |
1,920 |
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TOTAL CURRENT ASSETS |
25,346 |
24,429 |
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Property & Equipment |
1,964 |
2,269 |
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Intangibles |
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4,571 |
5,513 |
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Investments, Other Fixed Assets |
3,884 |
4,382 |
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TOTAL ASSETS |
35,765 |
36,593 |
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Payables |
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8,039 |
7,475 |
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Short-Term Bank Loans |
898 |
1,765 |
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Other Current Liabs |
12,915 |
11,738 |
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TOTAL CURRENT LIABS |
21,852 |
20,978 |
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Debentures |
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Long-Term Bank Loans |
1,831 |
5,480 |
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Reserve for Retirement Allw |
1,527 |
1,803 |
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Other Debts |
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47 |
21 |
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TOTAL LIABILITIES |
25,257 |
28,282 |
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MINORITY INTERESTS |
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32 |
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Common
stock |
1,909 |
1,909 |
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Additional
paid-in capital |
2,591 |
2,591 |
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Retained
earnings |
6,320 |
4,004 |
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Evaluation
p/l on investments/securities |
205 |
314 |
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Others |
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37 |
1 |
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Treasury
stock, at cost |
(555) |
(541) |
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TOTAL S/HOLDERS` EQUITY |
10,507 |
8,278 |
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TOTAL EQUITIES |
35,765 |
36,593 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash
Flows from Operating Activities |
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4,115 |
3,412 |
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Cash
Flows from Investment Activities |
171 |
-9,217 |
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Cash Flows
from Financing Activities |
-4,529 |
2,433 |
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Cash,
Bank Deposits at the Term End |
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8,589 |
8,832 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net
Worth (S/Holders' Equity) |
10,507 |
8,278 |
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Current
Ratio (%) |
115.99 |
116.45 |
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Net
Worth Ratio (%) |
29.38 |
22.62 |
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Recurring
Profit Ratio (%) |
3.33 |
3.12 |
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Net
Profit Ratio (%) |
1.72 |
1.31 |
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Return
On Equity (%) |
22.68 |
19.28 |
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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%)