MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KANTO IRRIGATION CO LTD |
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Registered Office : |
4-15-15 |
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Country : |
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Financials (as on) : |
31.10.2006 |
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Date of Incorporation : |
Nov 1979 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import (as agent) and
wholesale of sprinklers |
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 3.0 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
KANTO IRRIGATION CO LTD
REGD NAME
Kanto Irrigation
KK
MAIN OFFICE
4-15-15
Tel : 048-258-2621
Fax : 048-258-2620
URL : N/A
E-Mail
address: k-i@h6.dion.ne.jp
*.. The given address is the home address of Tamotsu Nakamura, the pres
ACTIVITIES
Import
(as agent) and wholesale of sprinklers
BRANCHES
Nil
OFFICER(S)
TAMOTSU
NAKAMURA, PRES
Sachie
Nakamura, dir
Hideaki
Nojima, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 171 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
37 M
STARTED 1979 EMPLOYES 3
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN SPRINKLERS, AS AGENT FOR RAIN BIRD CORP,
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 3.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tamotsu Nakamura in
order to make most of his experience in foreign trading. This is a small-sized trading firm for
importing and wholesaling sprinklers, as a sole agent for Rain Bird Corp,
FINANCIAL INFORMATION
The firm does not disclose full financials except the
following partial figures.
The sales volume for Oct/2006 fiscal term amounted to Yen 171 million, a similar amount in the previous term. Business is seen steady expanding after sluggish works from gold courses two years ago. The net profit remained similar at Yen 2 million.
For the current term ending Oct 2007 the net profit is projected to mark time at Yen 2 million, on a similar turnover, at Yen 170 million. Business is expanding to other than golf courses, such as parks, school grounds, etc.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 3.0 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Nov 1979
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Tamotsu Nakamura (60), Hedeaki
Nojima (10), Katsuko Nakamura (10)
No. of
shareholders: 7
Nothing
detrimental is knows as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales, as a sole import agent for
Rain Bird Corp,
The agency territory covers the Eastern part of
Clients: [Golf course operators, mfrs, wholesalers] Furukawa Engineering & Construction Inc, Keihin Co, Toyo Watering, Thompson Towa, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs] Imports solely from Rain Bird Corp,
Payment
record: Regular
Location: Business area in
Bank References
Hokuriku
Bank (Hakusan)
MUFG
(Nishi-Kawaguchi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/10/2007 |
31/10/2006 |
31/10/2005 |
31/10/2004 |
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Annual
Sales |
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170 |
171 |
171 |
170 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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2 |
2 |
2 |
2 |
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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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37 |
35 |
33 |
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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 |
-0.58 |
0.00 |
0.59 |
6.25 |
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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 |
1.18 |
1.17 |
1.17 |
1.18 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/10/2007 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%)