MIRA
INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MISASA INC |
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Registered Office : |
4-7-25 Nakamoto Higashinariku |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Jun 1950 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of handicraft supplies |
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 19.5 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
MISASA INC
REGD NAME
KK Misasa
MAIN OFFICE
4-7-25 Nakamoto
Higashinariku
Tel : 06-6972-5781
Fax : 06-6974-5451
URL : http://www.misasa-inc.com/
E-Mail address: Osaka@misasa-inc.com; Tokyo@misasa-inc.com
ACTIVITIES
Import, wholesale
of handicraft supplies
BRANCHES
FACTORY(IES)
(subcontracted)
OFFICER(S)
YOSHINOBU AOKI,
PRES Eiji Iida, ch
Satsuo Ayaki, mgn
dir Katsumi
Ikemoto, mgn dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,308 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND STEADY WORTH Yen
385 M
STARTED 1950 EMPLOYES 20
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN HANDICRAFT SUPPLIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 30 DAYS.
MAX CREDIT LIMIT:
YEN 19.5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1910 by
Otokichi Iida for selling sewing kits and supplies, on his account. Incorporated in 1950, the firm has been
succeeded by the present executives.
Yoshinobu Aoki took the pres office in Oct 2005. Specializes in wholesaling handicraft twisted
yarns, needles, other. Also sells hobby
dolls, etc. Goods are imported from
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen 1,308 million,
a 1% up from Yen 1,295 million in the previous term. The net profit was posted at Yen 10 million,
compared with Yen 13 million net profit a year ago. Rising costs of operations ate into profits.
For the current term ending Dec 2007 the net profit is projected at Yen 11 million, on a 2% rise in turnover, to Yen 1,330 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 19.5 million, on 30 days normal terms. The proposed amount is considered within the firm’s financial capabilities.
REGISTRATION
Date Registered: Jun 1950
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 300,000 shares
Issued: 96,000 shares
Sum: Yen 48 million
Major shareholders (%): Eiji Iida (28), Yoshinobu Aoki (10), Satsuo Ayaki (10), Katsumi Ikemoto (10), Shigeko
Fujii (9)
No. of
shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales (partially retails) handicraft yarns, needles, cloths, handicraft dolls, others (--100%).
Goods are imported from
Clients: [Mfrs, wholesalers]
Fujikyu, Paltac, Yuzawaya, Fujita Fukushoku, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hamanaka, Paltac, Maruzen,
Lucian, Nitoms Co, other. Imports from
Payment record:
Regular
Location: Business area in
Bank References
MUFG (Imazato)
Osaka City Shinkin
Bank (Ikuno)
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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1,330 |
1,308 |
1,295 |
1,250 |
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Recur.
Profit |
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.. |
.. |
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.. |
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Net
Profit |
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11 |
10 |
13 |
15 |
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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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385 |
375 |
362 |
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Capital,
Paid-Up |
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48 |
48 |
48 |
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Div.P.Share(¥) |
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10.00 |
10.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.68 |
1.00 |
3.60 |
-2.42 |
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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 |
0.83 |
0.76 |
1.00 |
1.20 |
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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%)