MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NOBEL CO LTD |
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Registered Office : |
Maruichi Bldg, 2-20-4 Nishishimbashi Minatoku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1950 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, export, wholesale of
intercom |
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 : |
-- |
name
NOBEL CO LTD
REGD NAME
Nobel KK
MAIN OFFICE
Maruichi Bldg,
2-20-4 Nishishimbashi Minatoku
Tel : 03-3432-5341
Fax : 03-3432-3650
URL : N/A
ACTIVITIES
Import,
export, wholesale of intercom
BRANCHES
Nil
OFFICERS
YOSHINOBU
KUMAGAI, PRES
Nobuhei
Ogihara, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES WEAK A/SALES Yen 66 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
(-) 1 M
STARTED 1950 EMPLOYES 3
COMMENT
TRADING FIRM SPECIALIZING IN TELECOM. FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: NEGATIVE NET WORTH. ALL CREDITS ARE RECOMMENDED ON STRICTLY GUARANTEED TERMS.
HIGHLIGHTS
The subject company was established by father of Yoshinobu
Kumagai. This is a trading firm,
essentially owned and managed by the Kumagai family, for import, export and
wholesale of telecom and peripherals.
Goods are imported from
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 66 million, a 12% up from Yen 59 million in the previous term. Demand revived after slowed down enquiry last year. Price competition was harder last term. The operations came back to profitability to post Yen 6 million net profit, up from Yen 4 million net losses the previous term. The accumulated losses of Yen 11 million at the term’s end were carried over into the next term.
For the term ended Mar/2007 the net profit was projected at Yen 8 million, on a 3% rise in turnover, to Yen 68 million. Demand is seen recovering. Weaker Yen should have helped uplift sales amount in Yen terms.
The financial situation is considered WEAK but should be good for MODERATE business engagements. Negative net worth and all credits are recommended on fully secured terms.
REGISTRATION
Date
Registered: Sept 1950
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%):
Yoshinobu Kumagai and families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales telecom equipment & peripherals (--100%).
Clients: [Telecom mfrs, governments, wholesalers] Self Defense Force, Nagano Japan Radio, Sakai Shoji, other.
Exports to
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Sakai Shoji (sales agent for
Foster Electric), Fuji Ceramics, Nippon Curl Cord, other. Imports from Pelta (
Payment
record: Regular
Location: Business area in
Bank References
Sawayaka
Shinkin Bank (Toranomon)
MUFG
(Shimbashi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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68 |
66 |
59 |
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Recur.
Profit |
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6 |
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Net
Profit |
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8 |
6 |
-4 |
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Total
Assets |
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25 |
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Current
Assets |
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22 |
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Current
Liabs |
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7 |
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Net
Worth |
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-1 |
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Capital,
Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.03 |
11.86 |
-20.27 |
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Current Ratio |
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.. |
314.29 |
.. |
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N.Worth Ratio |
.. |
-4.00 |
.. |
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R.Profit/Sales |
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.. |
9.09 |
.. |
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N.Profit/Sales |
11.76 |
9.09 |
-6.78 |
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Return On Equity |
.. |
.. |
.. |
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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%)