MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
OS CORPORATION |
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Registered Office : |
Dia Office 4F, 5-18-4 Ueno Taitoku |
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Country : |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
Sept 1999 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of jewelry |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
OS CORPORATION
REGD NAME
KK OS Corporation
MAIN OFFICE
Dia Office 4F,
5-18-4 Ueno Taitoku
Tel : 03-5812-9955
Fax : 03-5812-9956
URL : N/A
ACTIVITIES
Import,
wholesale of jewelry
BRANCHES
FACTORY(IES)
OFFICER(S)
YASUAKI
OSHIDA, PRES
Yuko
Oshida, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 410 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
86 M
STARTED 1999 EMPLOYES 14
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY FROM
MAX
CREDIT LIMIT: YEN 11.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Yasuaki Oshida in order
to make most of his experience in the subject line of business. This is a family-based trading company, owned
and operated by the Oshida family, specializing in import and wholesale of
jewelry. Goods are manufactured on its
original brands and designs at subcontracted factories in
FINANCIAL INFORMATION
Financials are only partially disclosed as from the 31/08/2004 fiscal term.
The sales volume for Aug/2006 fiscal term amounted to Yen 410 million, a 2% down from Yen 417 million in the previous term, hurt by sluggish consumer spending. The net profit was posted at Yen 4 million, down from Yen 5 million a year ago. The digested financials disclosed for the 31/08/2003 fiscal term: total assets Yen 123 million, net worth Yen 71 million, net worth ratio 58.2%.
For the current term ending Aug 2007 the net profit is projected at Yen 5 million, on a 2% rise in turnover, to Yen 420 million. Weaker Yen against foreign currencies will assist to raise sales in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. The proposed amount, however, is considered TOO HIGH from the recent financial status. Max credit limit is estimated at Yen 11.2 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Sept 1999
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Yasuaki Oshida (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails jewelry products (clad with precious stones & metals, pearls, etc); articles of goldsmith/silversmith wares, precious metal parts, other jewelry products (--100%).
Goods are originally designed and branded, with mfg
subcontracted to
(Wholesale 80%; retail 20% -- all about)
Clients: [Jewelry stores, chain stores, fashion goods stores] Nagahori, Marui Co, Sazaby Inc, Onward-Kashiyama, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs] Imports from Beauty
Payment
record: Regular
Location: Business area in
Bank References
Resona
Bank (Ueno-Chuo)
SMBC
(Ueno)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual
Sales |
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420 |
410 |
417 |
410 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
4 |
5 |
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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86 |
82 |
77 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.44 |
-1.68 |
1.71 |
2.50 |
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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 |
1.19 |
0.98 |
1.20 |
0.98 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2007 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%)