MIRA
INFORM REPORT
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Report Date : |
23.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MILLESIMES INC |
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Registered Office : |
Kanda 4th Amerex Bldg, 2-13 Kanda-Tsukasacho
Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
July 1997 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Wines, Cigars |
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 35.6 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
COMPANY NAME &
ADDRESS
MILLESIMES INC
REGD NAME : KK
Millesimes
MAIN OFFICE : Kanda 4th
Amerex Bldg, 2-13 Kanda-Tsukasacho Chiyodaku Tokyo 101-0048
Tel :
03-3233-3801
Fax :
03-3295-5619
URL : http://www.millesimes.co.jp
E-Mail address :
info@millesimes.co.jp; esiinger@millesimes.co.jp
ACTIVITIES
Travel agency; import, wholesale of wines, cigars
LICENSE
(Travel agency) Ministry of LIT No. 1503
BRANCHES
Nil
FACTORY(IES)
OFFICERS
ERNEST SINGER, PRES Mieko
Inose, dir
Katsuhiko Moro, dir Hiroko
Maruyama, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,339 M
PAYMENTS REGULAR CAPITAL Yen 220 M
TREND STEADY WORTH Yen 351 M
STARTED 1997 EMPLOYES 50
COMMENT
TRAVEL AGENCY; IMPORTER OF WINES & CIGARS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
EUROS 10,000.
MAX CREDIT LIMIT: YEN 35.6 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established by Ernest Singer, US
resident, in order to make most of his experience in the subject line of
business. Started as travel agency and gradually expanded business operations
to import and wholesale of wines & cigars. Travel agency business is
extended to US military forces, having a branch in one of the
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
2,339 million, a 5% up from Yen 2,231 million in the previous term. Popularity for red wines continued. The recurring profit was posted at Yen 24
million and the net profit at Yen 12 million, respectively, compared with Yen
11 million recurring profit and Yen 2 million net profit, respectively, a year
ago.
For the term ended Mar 2007 the net profit was projected at
Yen 13 million, on a 5% rise in turnover, to Yen 2,450 million. Wine consumption continued. Weaker Yen against foreign currencies helped
to push the sales upward in Yen terms.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 35.6 million, on 30 days normal
terms. The proposed amount is considered
well within the firm’s financial capabilities.
REGISTRATION
Date Registered : Jul
1997
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
4,400 shares
Issued :
4,400 shares
Sum :
Yen 220 million
Major shareholders (%): Ernest Singer (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Travel agency (50%); imports and wholesales
wines (45%), cigars (5%).
Travel business is offered to US military forces in
Clients: [Department stores, hotels, restaurants] Tokyu
Department Stores, Daimaru, Matsuzakaya, Isetan, Seibu Department Store,
Hanshin Department Store, Imperial Hotel, Keio Department Store, Hotel Okura,
Chinzan-So, Four Seasons Hotel, Palace Hotel, Blue Note Japan, Queen Alice, The
Georgian Club, Tsubaki Dew Drop Inn, other.
For travel agency, clients include
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Wineries, negociants, wholesalers] Wines are
Imported from France, Italy, Australia, New Zealand, Argentina, South Africa,
Spain, USA, Israel, etc. Cigars are
mainly from
Payment record
Regular
Location
Business area in
Bank References
SMBC (Kanda)
MUFG (Kanda)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual Sales |
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2,450
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2,339
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2,231
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2,052
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Recur. Profit |
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24 |
11 |
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Net Profit |
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13 |
12 |
2 |
11 |
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Total Assets |
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1,409
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1,148
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Current Assets |
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1,135
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1,011
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Current Liabs |
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717 |
598 |
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Net Worth |
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351 |
339 |
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Capital, Paid-Up |
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220 |
220 |
220 |
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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 |
4.75 |
4.84 |
8.72 |
3.12 |
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Current Ratio |
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158.30
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169.06
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N.Worth Ratio |
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24.91
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29.53
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.. |
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R.Profit/Sales |
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1.03 |
0.49 |
.. |
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N.Profit/Sales |
0.53 |
0.51 |
0.09 |
0.54 |
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Return On Equity |
.. |
3.42 |
0.59 |
.. |
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Note: Forecast (or estimated) for the 31/03/2007 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%)