MIRA
INFORM REPORT
|
Report Date : |
10th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ATHENA INC |
|
|
|
|
Registered Office : |
5-8-5 Kashiwa Kashiwa City Chiba-Pref 277-0005, Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 (Estimated) |
|
|
|
|
Date of Incorporation : |
September 1990 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Importing, Exporting, Wholesaling and Retailing painting
tools & supplies: paint brushes, oil paints, crafting tools &
supplies, patch-work quilt, tole painting, fabric painting, stencil, polymer
clay, and related supplies & tools |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
Company Name
ATHENA INC
REGD NAME
KK Athena
MAIN OFFICE
5-8-5 Kashiwa Kashiwa City Chiba-Pref 277-0005 JAPAN
Tel :
04-7168-7100
Fax :
04-7168-7200
URL : http://www.athena-inc.co.jp/ http://maverick-club.com/ (online shop)
E-Mail address :
partenon@athena-inc.co.jp
ACTIVITIES
Import, export, wholesale of painting tools, crafting tools
& supplies
BRANCHES
At the caption address (retail store)
FACTORY
Kashiwa (Distribution Center)
OFFICER(S)
HISAYOSHI KUREBAYASHI, PRES
Isako Kurebayashi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 464 M
PAYMENTS REGULAR CAPITAL Yen 32 M
TREND SLOW WORTH Yen 42 M
STARTED 1990 EMPLOYES 18
COMMENT
TRADING FIRM SPECIALIZING IN PAINTING TOOLS & SUPPLIES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Hisayoshi Kurebayashi
in order to make most of his experience in the subject line of business. This is a trading house, owned and operated
by the Kurebayashi family, for import, export and wholesale of painting tools
& supplies. Goods are imported from
USA, Australia, etc, and exported mainly to USA. In Aug 1994, advanced into mail-order and online sales when
separated a sales division as Maverick Sales Division. In Apr 1998, opened a retail store at the
caption address. In Apr 2004, opened
online shop. In Feb 2004, closed agency
agreement with US Polymer Clay (Pre-Mo), followed by German “Marabu” in Jul
2004. Owns the caption building, built
in Mar 2002. Clients are local
specialty stores centering in the greater-Tokyo region.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
464 million, a 9% down from Yen 551 million in the previous term. This is referred to the sluggish consumer
demand. The net profit remained
unchanged at Yen 1 million.
For the term ending Mar 2007 the net profit is projected at
Yen 1 million, on a 6% rise in turnover, to Yen 450 million. Consumer spending still not completely
recovered. Weaker Yen will help uplift
sales in Yen terms.
The financial situation is considered RATHER WEAK but should
e good for MODERATE business engagements.
Max credit limit is estimated at Yen 6.5 million, on 30 days normal
terms.
REGISTRATION
Date Registered : Sept
1990
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
960 shares
Issued :
640 shares
Sum :
Yen 32 million
Major shareholders (%)
Hisayoshi Kurebayashi (44.6), Isako Kurebayashi (12.5),
Nobumasa Kurebayashi (6.5), Rena Kurebayashi (6.5)
No. of shareholders: 11
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: A trading house for importing, exporting, wholesaling
and retailing painting tools & supplies: paint brushes, oil paints,
crafting tools & supplies, patch-work quilt, tole painting, fabric
painting, stencil, polymer clay, and related supplies & tools (--100%).
Goods are distributed by mail-order system, and online shop.
Clients
[Specialty stores, wholesalers, culture schools, customers]
Tokyu Hands, Joyful Honda, Okadaya,
Tostem Viva, Kohnan Shoji, Doit (Do-It-Yourself Store), DIY City, Shimachu
Homes, Cainz, Royal Home Center, Uny Living, Keiyo Co, other.
Exports to USA, etc.
No. of accounts
600 (Specialty stores); 1,000 (culture schools)
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from USA, Australia, Germany,
other.
Also supplied from Vogue Japan, other.
Payment record
Regular
Location
Business area in Kashiwa City, adjacent to Chiba City. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
MUFG (Kashiwa)
SMBC (Kashiwa)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual
Sales |
|
450 |
423 |
464 |
|
|
Recur.
Profit |
|
.. |
.. |
.. |
|
|
Net
Profit |
|
1 |
1 |
1 |
|
|
Total
Assets |
|
|
N/A |
N/A |
|
|
Net
Worth |
|
|
42 |
41 |
|
|
Capital,
Paid-Up |
|
|
32 |
32 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
6.38 |
-8.84 |
-15.79 |
||
|
Current Ratio |
|
|
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
||
|
N.Profit/Sales |
0.22 |
0.24 |
0.22 |
||
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for 31/03/2007 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%)