MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
M & P KK |
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Registered Office : |
c/o KK Hubnet 3-21-10 Higashishinagawa Shinagawaku |
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Country : |
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Date of Incorporation : |
Feb 1998 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of UN certified packages for dangerous
cargo; foodstuffs from |
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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
M & P KK
REGD NAME
M & P KK
MAIN OFFICE
c/o KK Hubnet
3-21-10 Higashishinagawa Shinagawaku
Tel : 03-5462-7661
Fax : 03-3471-8800
*.. Moved to the caption address in May 2007 from the former at: 3-24-7 Higashishinagawa Shinagawaku Tokyo, as given.
The old address is being used as a warehouse.
URL : http://mandp.hub-net.co.jp /
E-Mail
address: mandop@hub-net.co.jp
ACTIVITIES
Import,
wholesale of UN certified packages for dangerous cargo; foodstuffs from
WAREHOUSE
OFFICER(S)
MAKI
MURAKI, PRES
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 60 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
10 M
STARTED 1998 EMPLOYES 3
*..
Financials not disclosed and figures estimated only.
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN TUNISIAN FOODSTUFFS. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 700,000, FULLY SECURED TERMS OR UNDER GUARANTEE FROM THE PARENT, KK HUBNET, RECOMMENDED
MAX CREDIT LIMIT OF THE PARENT IS ESTIMATED AT YEN 4.5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established on the basis of a trading
division separated from KK Hubnet, international door-to-door express parcel
delivery service provider, at the caption address. This is virtually a trading division
belonging to the parent, with management & operations fully
integrated. M Muraki is concurrently
pres at the parent. Specializes in
importing foodstuffs from
FINANCIAL INFORMATION
The subject does not disclose any of the financials and the following figures have been estimated by us based on the telephone conversation with the treasurer. We have attached, for reference, the financial report (only partially) of the parent, KK Hubnet.
The revenues for Dec/2006 fiscal term amounted to Yen 60 million, up 20% from Yen 50 million in the previous term. The net profit remained at a minimum amount, unchanged from previously. The parent reported sales for the 31/07/2006 fiscal term at Yen 230 million, similarly a year earlier.
For the current term ending Dec 2007 the net profit is projected at Yen 1 million, on a 10% rise in turnover, to Yen 66 million. Weaker Yen may contribute to uplift sales in Yen terms. All figures are estimated by us only.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 700,000, on fully secured terms or under guarantee from the parent, KK Hubnet, recommended. The parent’s max credit limit is estimated at Yen 4.5 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Feb 1998
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): KK Hubnet*(100)
*.. International door-to-door parcel delivery service provider specializing in newspapers, magazines, books, other printings, at the caption address; capital Yen 12 million, turnover Yen 230 million, employees 12, pres Maki Muraki, concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales UN certified packaging & containers for dangerous cargo, as sole agent for E3-Cortex, France; also imports Tunisian foodstuffs: couscous, harissa, chamura, extra virgin olive oils, wines, beer, cooking pans & utensils, other; offers Arabic translation/interpretation services (--100%).
Wines are imported from
Tunisian foodstuffs & wines are marketed online, too.
Dangerous cargo containers (fiberboard & plywood make) for: explosives, compresses gases, flammable liquids & solids, peroxides & oxidizers, toxic substances, infectious sub- stances, radioactive materials, corrosives, other.
Clients: Hotels, restaurants, specialty stores, consumers (online sales, etc)
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
Mizuho
Bank (Akasaka)
Relations:
Money deposits & transfers only
FINANCES
(In
Million Yen)
OF THE
PARENT, KK HUBNET.
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Terms Ending: |
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31/07/2007 |
31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual
Sales |
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250 |
230 |
230 |
200 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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2 |
1 |
2 |
0 |
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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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27 |
26 |
24 |
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Capital,
Paid-Up |
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12 |
12 |
12 |
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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 |
8.70 |
0.00 |
15.00 |
-13.04 |
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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 |
0.80 |
0.43 |
0.87 |
0.00 |
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Notes:
Financials are not disclosed and the above figures represent those of the
parent,
KK
Hubnet, only partially disclosed.
Forecast
(or estimated) figures for the 31/07/2007 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%)