MIRA
INFORM REPORT
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Report Date : |
13.07.2007 |
IDENTIFICATION DETAILS
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Name : |
NIHON CHUKYO CO LTD |
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Registered Office : |
272-1 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Apr 2002 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of
vegetables, teas |
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 4 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
NIHON CHUKYO CO LTD
REGD NAME
Nihon Chukyo KK
MAIN OFFICE
272-1 Gohara
Ohkawa City Fukuoka-Pref 831-0028
Tel : 0944-87-2228
Fax : 0944-87-2280
URL : N/A
ACTIVITIES
Import,
wholesale of vegetables, teas
BRANCHES
Nil
OFFICERS
SHIGEKAZU
ARAKI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 265 M
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND UP WORTH Yen 29 M
STARTED 2002 EMPLOYES 3
COMMENT
IMPORTER SPECIALIZING IN VEGETABLES AND TEAS. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$243,000 / O/A 30 DAYS.
MAX CREDIT LIMIT: YEN 4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shigekazu Araki in order
to make most of his experience in the subject line of business. This is a small-sized trading firm specializing
in import and wholesale of vegetables (chilled/frozen), teas, etc. Goods are imported centrally from
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 265 million, a 2% up from Yen 259 million in the previous term. The operations, on the other hand, incurred a deficit to register Yen 6 million net losses for the term. This is referred to disposal of some goods due to quality according to the Japanese regulations on food.
For the term ended Mar 2007 the operations were projected to
come back profitability to post Yen 7 million net profits, on a 4% rise in
turnover, to Yen 275 million. Vegetables
from
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 recent financial status. Max credit limit is estimated at Yen 4 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Apr 2002
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 2,000 shares
Issued: 530 shares
Sum: Yen 25.6 million
Major
shareholders (%): Shigekazu Araki (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales vegetables, teas, other
foodstuffs, mainly from
Clients: [Vegetable wholesalers, vegetable markets] Tokyo City Seika, Tsuruta Seika, Kumamoto Daidou Seika, Kyowa Shoko, Marukyo Seika, other.
No. of
accounts: 300
Domestic
areas of activities: Centered in Fukuoka-Pref
Suppliers:
[Mfrs, wholesalers] Imports from
Payment
record: Regular
Location: Business area in
Bank References
Fukuoka
Bank (Ohkawa)
Nishinippon
City Bank (Ohkawa)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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275 |
265 |
259 |
199 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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7 |
-6 |
8 |
4 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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29 |
35 |
27 |
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Capital,
Paid-Up |
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25 |
25 |
25 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.77 |
2.32 |
30.15 |
22.09 |
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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 |
2.55 |
-2.26 |
3.09 |
2.01 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/03/2007 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%)