MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KYOWA CORPORATION |
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Registered Office : |
Yuman Bldg 7F, 2-5-9 Minamihonmachi Chuoku |
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Country : |
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Date of Incorporation : |
May 1975 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of jewelry, cosmetics |
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 2.7 MILLION |
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Status : |
Moderate |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
COMPANY NAME
KYOWA CORPORATION
REGD NAME: Kyowa Boeki KK
MAIN OFFICE
Yuman Bldg 7F, 2-5-9 Minamihonmachi Chuoku
Tel : 06-6244-0246
Fax : 06-6244-0243
URL : N/A
Moved to the caption address from the former at: Saitoh Bldg, 1-6-19 Honmachi Chuoku Osaka, as given
ACTIVITIES
Import, wholesale of jewelry, cosmetics
BRANCHES
OFFICER(S)
KEIICHI SAKAMOTO, PRES
Yoshie Yoshioka, dir
Kihei Yoshioka, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 190 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND SLOW WORTH Yen 38 M
STARTED 1975 EMPLOYES 9
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY, COSMETICS. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 30 DAYS TERMS.
MAX CREDIT LIMIT: YEN 2.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Keiichi Sakamoto in
order to make most of his experience in the subject line of business. This is a small-sized trading house, owned by
Sakamoto family, specializing in import and wholesale of jewelry, cosmetics,
and accessories. Goods are imported
centrally from Europe, and recently from
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen 190
million, a similar amount in the previous term.
Business remained slow with lower-priced imports from
For the current term ending Dec 2007 the net profit is projected at Yen 1 million, on a 3% rise in turnover, to Yen 195 million. Weaker Yen will likely uplift sales amount in Yen terms.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. The proposed amount is considered TOO HIGH from the recent financial status. Max credit limit is estimated at Yen 2.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1975
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders (%): Keiichi Sakamoto & families (--100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales jewelry products, cosmetics, other clothing accessories (--100%).
Goods are imported centrally from Europe, and
Clients: Shipped directly to specialty wholesalers nationwide.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Europe,
Payment record
Regular
Location
Business area in
Bank References
MUFG (Semba-Chuo & Semba)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms
Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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195 |
190 |
190 |
195 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net Profit |
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1 |
0 |
0 |
1 |
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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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38 |
38 |
38 |
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Capital,
Paid-Up |
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15 |
15 |
15 |
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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 |
2.63 |
0.00 |
-2.56 |
-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 |
0.51 |
0.00 |
0.00 |
0.51 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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%)