MIRA
INFORM REPORT
|
Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
YOSHIOKA & CO LTD |
|
|
|
|
Registered Office : |
1-60 Akanabe-Hishino Gifu 500-8268, Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2007 (Estimated) |
|
|
|
|
Date of Incorporation : |
July 1950 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufactures clothing fabrics (outer & inner materials):
lining cloth, interfacing, shoulder pads, petticoats, lining, suiting
materials, other accessories, magnetic therapeutic fabric goods, other |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
Yen 581.3 Million |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
Company Name
YOSHIOKA & CO LTD
REGD NAME
Yoshioka KK
MAIN OFFICE
1-60 Akanabe-Hishino Gifu 500-8268 JAPAN
Tel :
058-276-0116
Fax :
058-276-1114
*.. Registered at: 9-7 Nagazumicho Gifu 500-8176, as given
URL : http://www.fc-yoshioka.co.jp
E-Mail address : info@fc-yoshioka.co.jp; osk-g801@fc-yoshioka.co.jp
ACTIVITIES
Mfg, import, export of clothing inner & outer fabrics
BRANCHES
Tokyo, Osaka, Nagoya, Okayama
OVERSEAS
Hong Kong, Shanghai (2), Huebei (China)
FACTORY(IES)
At the caption address; China (2), Hong Kong
OFFICERS
Gen’ichi Yoshioka, ch GEN’YU
YOSHIOKA, PRES
Tadaaki Kuroishi, s/mgn dir Sadayuki
Nohara, dir
Shigeru Watanabe, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 13,351 M
PAYMENTS REGULAR CAPITAL Yen 36 M
TREND SLOW WORTH Yen 5,357 M
STARTED 1950 EMPLOYES 161
COMMENT
MFR SPECIALIZING IN CLOTHING FABRICS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 581.3 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established originally in 1929 by a
certain Yoshioka for mfg clothing materials, on his account. Incorporated in 1950 by Gen’ichi Yoshioka,
now ch and has been succeeded by the founder’s descendants. Gen’yu took the office of pres in 1988, with
Gen’ichi promoting to the ch.
Specializes in mfg lining cloths, interfacing and other clothing
fabrics. Goods are manufactured mostly
at overseas factories: China & Hong Kong (--subsidiaries), Indonesia &
Korea (--JV’s). Goods are both exported
and imported. Exports the goods to Europe & USA
directly from these factories. Clients
include major domestic apparel mfrs, wholesalers, and specialty stores,
nationwide.
Opened Hong Kong office in 1984; JV in Korea in1987; JV in
Indonesia & Thailand in 1990; Shanghai office & factory in 1993,
starting operations in 1995.
FINANCIAL INFORMATION
The sales volume for Aug/2006 fiscal term amounted to Yen
13,351 million, a 2% down from Yen 13,575 million in the previous term. Sales were slow to expand with price
competitions among the trade getting harsher.
Lower-priced imports are increasing.
The profits were improved, on the other hand, to register Yen 381
million recurring profit and Yen 163 million net profit, respectively, compared
with Yen 257 million recurring profit and Yen 127 million net profit,
respectively, a year ago. Cost-saving
efforts resulted.
For the current term ending Aug 2007 the net profit is
projected at Yen 165 million, on a 5% rise in turnover, to Yen 14,000
million. Demand is seen
increasing. Exports from China &
Hong Kong will increase. Weaker Yen
will help increase sales in Yen terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 581.3 million, on 30 days normal terms.
REGISTRATION
Date Registered : Jul
1950
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
288,000 shares
Issued :
72,000 shares
Sum :
Yen 36 million
Major shareholders (%)
Employees’ S/Holding Assn (31.2), Seek Heart*(13.8), Yoshioka
Boshoku**(9.3)
*.. Holding company owned by the Yoshiokas.
**.. Subsidiary mfr of inner fabric materials, Gifu.
No. of shareholders:
27
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures clothing fabrics (outer
& inner materials): lining cloth, interfacing, shoulder pads, petticoats,
lining, suiting materials, other accessories, magnetic therapeutic fabric
goods, other (--100%).
Exports suiting materials and other cloth materials directly
from China & Hong Kong factories to USA & Europe.
Clients
[Apparel mfrs, wholesalers] World, Renown Inc, Durban,
Hirota Co, Naigai Co, Sanyo Shokai Ltd, Sunrally Co, Minoya Co, Singapore
Fashion, other.
No. of accounts
800
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Corp, Marubeni Corp, Mitsui &
Co, Sumikin Bussan Corp, Chori Co, Yoshioka Boshoku, Japan Vilene, Takoh Co,
other.
Payment record
Regular
Location
Business area in Gifu.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
MUFG (Gifu)
Juroku Bank (H/O)
Relations: Satisfactory
FINANCES
(In Million
Yen)
|
Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
|
|
Annual
Sales |
|
14,000 |
13,351 |
13,575 |
15,465 |
|
Recur.
Profit |
|
|
381 |
257 |
|
|
Net
Profit |
|
165 |
163 |
127 |
204 |
|
Total
Assets |
|
|
8,768 |
8,568 |
|
|
Current
Assets |
|
|
6,917 |
6,487 |
|
|
Current
Liabs |
|
|
3,387 |
3,342 |
|
|
Net
Worth |
|
|
5,357 |
5,199 |
|
|
Capital,
Paid-Up |
|
|
36 |
36 |
36 |
|
Div.P.Share(Ą) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
-1.65 |
-12.22 |
1.34 |
|
|
Current Ratio |
|
.. |
204.22 |
194.11 |
.. |
|
N.Worth Ratio |
.. |
61.10 |
60.68 |
.. |
|
|
R.Profit/Sales |
|
.. |
2.85 |
1.89 |
.. |
|
N.Profit/Sales |
1.18 |
1.22 |
0.94 |
1.32 |
|
|
Return On Equity |
.. |
3.04 |
2.44 |
.. |
|
Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/08/2007 fiscal term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)