MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SPEEDWELL ADVISORS LIMITED |
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Registered Office : |
3-13-18 Minami-Aoyama Minatoku Tokyo 107-0062 |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
Oct 2000 |
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Legal Form : |
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Line of Business : |
Investment Advisor |
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 18 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
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name
SPEEDWELL ADVISORS LIMITED
REGD NAME
Speedwell Advisors
Limited
MAIN OFFICE
3-13-18
Minami-Aoyama Minatoku
Tel :
03-5772-0602
*.. Registered at
POB 2804
URL : N/A
ACTIVITIES
Investment Advisor
LICENSES
Kanto FSA No. 990,
granted 15/11/2000
BRANCHES
Nil
OFFICERS
FUYUKI
Yuka Watanabe,
chief operating officer
Douglas Martinson,
listed as mgn/dir (
*.. Address
Lawyer, co-partner
of Martinson & Beeson Law Office
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 400 M
PAYMENTS REGULAR CAPITAL US$10,000*
TREND STEADY WORTH Yen
75 M
STARTED 2000 EMPLOYES 10
*.. Paid in
COMMENT
INVESTMENT ADVISOR,
MAX CREDIT LIMIT:
YEN 18 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established as Tokyo Branch of Speedwell Advisors Limited, Cayman in order to engage in investment advisory business. Tokyo Branch is represented by Fuyuki Fujiwara. Douglas Martinson, Lawyer (USA) is listed as mgn/dir.
FINANCIAL INFORMATION
The revenues for Dec/2004 fiscal term amounted to Yen 400 million, a 35% up from Yen 296 million in the previous term. The net profit was posted at Yen 20 million, compared with Yen 22 million a year ago. Yen 48 million accumulated income is carried over to the next term.
For the term ended Dec/2006 the financials & business reports have not been submitted to the Kanto FSA. For foreign firms the deadline of submission of such documents is within 6 months after the account closing term. FSA expects to receive them by the end of June/2007. Thereafter FSA will need 2 to 3 months to review and assess the contents. Only after such procedure, the documents will be released for open observation.
The financial situation is considered FAIR and good for PROPER business engagements. Max credit limit is estimated at Yen 18 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 2000
Legal Status:
Sum: US$10,000, as
registered in
Major shareholders (%): Samuel David
Snowdy*(99.99%)
*.. Residence: 302 Belwood 4-1-20 Shibuya Shibuyaku
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Investment Advisor, wholly owned by Speedwell
Advisors Limited, Cayman
Clients:
Investors, financial institutions, individual investors, others
No. of accounts:
Unavailable
Domestic areas of activities: Centered in greater-Tokyo, as the
License covers
Payment record:
Regular
Location: Business area in
Bank References
Local Bank
(Unavailable)
Relations: Money
deposits and transfers only.
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/12/2005 |
31/12/2004 |
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INCOME STATEMENT |
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Annual Sales |
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400 |
296 |
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Cost of Sales |
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GROSS PROFIT |
400 |
296 |
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Selling & Adm Costs |
368 |
273 |
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OPERATING PROFIT |
32 |
23 |
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Non-Operating P/L |
4 |
2 |
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RECURRING PROFIT |
36 |
25 |
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NET PROFIT |
20 |
22 |
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BALANCE SHEET |
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Cash |
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8 |
3 |
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Receivables |
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18 |
23 |
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Inventory |
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Securities, Marketable |
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Other Current Assets |
4 |
0 |
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TOTAL CURRENT ASSETS |
30 |
26 |
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Property & Equipment |
41 |
44 |
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Intangibles |
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25 |
29 |
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Investments, Other Fixed Assets |
1 |
1 |
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TOTAL ASSETS |
97 |
100 |
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Payables |
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4 |
6 |
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Short-Term Bank Loans |
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Other Current Liabs |
18 |
19 |
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TOTAL CURRENT LIABS |
22 |
25 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
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Other Debts |
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0 |
0 |
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TOTAL LIABILITIES |
22 |
25 |
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MINORITY INTERESTS |
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Common
stock |
27 |
47 |
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Additional
paid-in capital |
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Retained
earnings |
48 |
27 |
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Evaluation
p/l on investments/securities |
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Others |
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0 |
1 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
75 |
75 |
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TOTAL EQUITIES |
97 |
100 |
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ANALYTICAL RATIOS Terms ending: |
31/12/2005 |
31/12/2004 |
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Net
Worth (S/Holders' Equity) |
75 |
75 |
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Current
Ratio (%) |
136.36 |
104.00 |
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Net
Worth Ratio (%) |
77.32 |
75.00 |
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Recurring
Profit Ratio (%) |
9.00 |
8.45 |
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Net
Profit Ratio (%) |
5.00 |
7.43 |
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Return
On Equity (%) |
26.67 |
29.33 |
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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%)