MIRA
INFORM REPORT
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Report Date : |
03.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ORIENT COMMERCE INC |
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Registered Office : |
Shimayama Bldg 2F, 2-1-1 Honmachi Shibuyaku Tokyo 151-0071 |
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Country : |
Japan |
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Date of Incorporation : |
Nov 1988 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, online store
retail of spices, confectionery, coffee, ice cream |
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 2.5 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
ORIENT COMMERCE INC
REGD NAME
Orient Commerce KK
MAIN OFFICE
Shimayama Bldg 2F, 2-1-1 Honmachi Shibuyaku Tokyo 151-0071 JAPAN
Tel: 03-5352-7800
Fax: 03-5352-7890
*.. Registered at: 4-20-2 Fuda Chofu City Tokyo-Metrop
URL : http://store.yahoo.co.jp/orientcommerce
E-Mail address: sampei@atakatrading.com (online
store)
ACTIVITIES
Import, wholesale, online store retail of spices,
confectionery, coffee, ice cream
BRANCHES
Nil
OFFICERS
KENJI OKUYAMA, PRES
Ryoko Okuyama, dir
Yen Amount : In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 148 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 74 M
STARTED 1988 EMPLOYES 4
COMMENT
IMPORTER SPECIALIZING IN CONFECTIONERY & FOODSTUFFS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 2.5 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established on the basis of foodstuffs
division separated from Ataka Trading
Co Ltd (See REGISTRATION), in order to import spices, virgin oils,
confectionery, ice cream, coffee & teas, other foodstuffs. Goods are imported from USA, UK, Spain,
Italy, other Europe. Goods are also retailed online.
FINANCIAL INFORMATION
The
financials are only partially disclosed.
The sales volume for Dec/2005 fiscal term amounted to Yen 148 million, an 11% up from Yen 134 million in the previous term. Online store items were expanded. The net profit was posted at Yen 1 million. This compares with Yen 31 million net profit a year ago, which reportedly included some extraordinary income.
For the term ended Dec 2006 the net profit was projected and
believed posted at Yen 3 million, on an 8% rise in turnover, to Yen 160
million. Items of imports
expanded. Also aided by weaker Yen,
reportedly. Final results are yet to be
produced.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 2.5 million, on 30 days normal terms.
REGISTRATION
Date Registered : Nov
1988
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
3,200 shares
Issued :
800 shares
Sum :
Yen 40 million
Major shareholders (%) : Ataka Trading Co Ltd*(100)
*.. Importer of coffee beans, Tokyo, founded 1981, capital Yen
70 million, turnover Yen 2,400 million, net profit Yen 33 million, employees 6,
pres Mamoru Araki
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, wholesales and online store retails
spices, seasonings, olive oils, coffee & teas, sugar, ice cream,
confectionery (chocolates, caramel, sweets, cookies, popcorns, etc), gumball
machines & refills, health foods, other foodstuffs (--100%).
Goods are imported widely from USA, UK, Spain, other Europe.
Typical
brands handled:
Seasonings:
Hunt’s, Pace, Carmencita, other;
Coffee, teas & sugar:
Royal Kona, Tete & Lyle, Hawaiian Islands Teas, etc;
Confectionery:
Carousel, Ragold Confections, Welch’s, Orville Redenbacher’s, Gelatine,
Fennobon Oy, Steenland Chocolate, Russell Stover, Brent & Sam’s, Noble
Chocolate, other.
Clients
[Food stores, processors, chain stores] Meidi-Ya, Tokyu Hands, Mitsui Foods, Italian Foods, Royal Trading, Camel Coffee, Toshin Corp, National Bussan, Lalaport Tokyo-Bay, Suzuya Shokuhinten, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] P J Rhodes, Campbell Japan, United Media,
Celes Fruit Juices, AG Roles, Elah Dufour, Hawaii Coffee, Leaf Italia, Tate
& Lyle Sugars, Noble Chocolates, other, from USA, UK, Spain, Italy, etc.
Payment record: Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Kichijoji)
Mizuho Bank (Kichijoji)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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160 |
148 |
134 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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3 |
1 |
31 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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74 |
73 |
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Capital,
Paid-Up |
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40 |
40 |
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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 |
8.11 |
10.45 |
-9.46 |
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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 |
1.88 |
0.68 |
23.13 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2006 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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions