MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHUKOH CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
Jun 1947 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Design, construction of
office/store interior systems; manufacturing of furniture |
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 65.9 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
SHUKOH CO LTD
REGD NAME
KK Shukoh
MAIN OFFICE
Tel :
044-543-5132
Fax : 044-541-2359
URL : http://www.shukoh.co.jp
E-Mail
address: (thru the URL)
ACTIVITIES
Design,
construction of office/store interior systems; mfg of furniture
BRANCHES
FACTORY(IES)
OFFICERS
SHUSUKE
SAKUMA, PRES Tomio
Nakamura, mgn dir
Makoto
Fujita, dir Yoshiyuki
Hashiguchi, dir
Hiromi
Sakuma, dir Noriaki
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,387 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
1,973 M*
STARTED 1947 EMPLOYES 113
*..
Net worth as of Mar/2005 fiscal term
COMMENT
OFFICE/STORE DESIGN, PLAN, CONSTRUCTION FIRM; MFG OF
FURNITURE. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 65.9 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by father of Shusuke Sakuma
in order to make most of his experience in the subject line of
business. Specializes in design, plan,
and construction of office interior systems.
Originally focused on bank stores, gradually expanding into business
offices and stores. Also manufactures
furniture, branded as “UNIFOR-HANGING”, a hanging-type furniture, folding and
movable-type, licensed mfg from
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
6,386 million, a 1.2% down from Yen 6,464 million in the previous term. The operations plunged into the red to register
Yen 1,770 million net losses for the term, coming from the disposal losses of
old office building and assets. The firm
stopped disclosing full financials (in digest form) from this term. The net worth is believed at Yen 202 million.
For the term ended Mar 2007 the recurring profit was projected at Yen 400 million, on a 2% rise in turnover, to Yen 6,500 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 65.9 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jun 1947
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 17.2 million shares
Issued: 4.3 million shares
Sum: Yen
100 million
Major shareholders (%): Shusuke
Sakuma (59%) (Majority owned by the family)
No. of shareholders: 44
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Designs, plans, constructs office interior systems;
manufactures office and store furniture, licensed from
Licensed mfg items: Branded as “UNIFOR-HANGING”, wall-hanging, folding and movable types, earthquake resistant furniture.
Imports directly from
Clients: [Governments, business firms, banks] Mizuho Bank, MUFG, Resona Bank, SMBC, Ministry of Labor, Tokyo-Metrop, Dentsu, Shiseido, NTT DoCoMo, other.
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nitto Jushi Kogyo, Haneda
Kosakusho, Uda Mokkosho, other. Imports
from Unifor (
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (Hamamatsucho)
MUFG
(Shimbashi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual
Sales |
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6,387 |
6,464 |
8,010 |
6,755 |
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Recur.
Profit |
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510 |
407 |
321 |
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Net
Profit |
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-1,770 |
321 |
586 |
-1,171 |
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Total
Assets |
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11,149 |
11,344 |
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Current
Assets |
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2,709 |
3,025 |
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Current
Liabs |
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5,226 |
7,856 |
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Net
Worth |
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1,973 |
1,534 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
100 |
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Div.P.Share(¥) |
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0 |
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-1.19 |
-19.30 |
18.58 |
0.82 |
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Current Ratio |
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.. |
51.84 |
38.51 |
.. |
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N.Worth Ratio |
.. |
17.70 |
13.52 |
.. |
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R.Profit/Sales |
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7.98 |
6.30 |
4.01 |
.. |
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N.Profit/Sales |
-27.71 |
4.97 |
7.32 |
-17.34 |
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Return On Equity |
.. |
16.27 |
38.20 |
.. |
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Note:
Financials are only partially disclosed for the 31/03/2006 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%)