MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
IMAC |
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Registered Office : |
Yoshitake Bldg, 1-19-5 Shibuya Shibuyaku |
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Country : |
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Date of Incorporation : |
July 1978 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of scarves, other clothing accessories,
home interior goods |
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 19.2 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
COMPANY NAME
IMAC, KK
REGD NAME: KK Imac
MAIN OFFICE
Yoshitake Bldg, 1-19-5 Shibuya Shibuyaku
Tel : 03-3409-8271
URL : Http;//www.imac-j.com
E-mail : Thru the URL
ACTIVITIES
Import, wholesale of scarves, other clothing accessories,
home interior goods
BRANCHES
Nil
OFFICER(S)
ATSUMOTO OKUTANI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,650 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 260 M
STARTED 1978 EMPLOYES 3 - 5
COMMENT
TRADING HOUSE SPECIALIZING IN CLOTHING ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$50,000 / O/A 30 DAYS TERMS.
MAX CREDIT LIMIT: YEN 19.2 MILLION, 30 DAYS NORMAL
TERMS.
SECURED TERMS ARE RECOMMENDED ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established by Atsumoto Okutani in
order to make most of his experience in the subject line of business. This is a family-based trading house for
import and wholesale of scarves, and other clothing accessories. Also handles home interior goods. The subject declined to disclose detailed
information on the management and financials, saying that the firm has been
fully supplying such information to its regular customers, as requested, and
feels no need to provide such information to outside parties. No other database information is available,
except the Pretax Profits disclosed by the Taxation Office.
FINANCIAL INFORMATION
The firm stopped disclosing its financials from the 1999
fiscal term. We have managed to obtain
the following financials, only partially, from very limited phone conversation
with the firm.
The sales volume for Jun/2006 fiscal term amounted to Yen
1,650 million, a 3% up from Yen 1,600 million in the previous term. The net profit was posted at Yen 20 million,
up from Yen 19 million a year ago. No
further details are made available. The
Pretax Profit disclosed from the Taxation Office is not available for this
term.
For the term just ended Jun 2007 the net profit is believed
posted at Yen 20 million (as projected earlier), on a similar turnover, at Yen
1,650 million. Weaker Yen could have
pushed the sales upward.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 19.2 million, on 30 days normal
terms. We recommend secured terms on new
transactions. This is because the
financials, only verbally obtained from the firm, have not been verified by
outside sources.
REGISTRATION
Date Registered: Jul
1978
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Atsumoto Okutani & families
(--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales scarves, shoals, gloves,
other clothing accessories, home interior & decorative items (--100%).
Clients: Specialty stores, chain stores, other (Details
undisclosed)
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from
Payment record
Regular
Location
Business area in
Bank References
Local Bank (Not disclosed)
Relations: Unknown
FINANCES: (In Million
Yen)
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Terms Ending: |
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30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual Sales |
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1,650
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1,650
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1,600
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1,550
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Recur. Profit |
(*) |
.. |
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49 |
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Net Profit |
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20 |
20 |
19 |
14 |
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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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260 |
240 |
224 |
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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 |
0.00 |
3.13 |
3.23 |
3.33 |
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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 |
1.21 |
1.21 |
1.19 |
0.90 |
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Notes: Financials are only partially disclosed and the above
statement is all prepared by us based on the partial figures obtained from the
firm.
Forecast (or estimated) figures for the 30/06/2007 fiscal
term.
(*) Data disclosed by the Shibuya Taxation Office as the
pretax profits.
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%)