MIRA
INFORM REPORT
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Report Date : |
10.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ITEM CO LTD |
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Registered Office : |
4-13-15 Shiohama Kawasakiku Kawasaki 210-0826 |
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Country : |
Japan |
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Date of Incorporation : |
Nov 1993 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of broadcasting equipment,
parts & components |
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 3.9 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
ITEM CO LTD
REGD NAME
KK Item
MAIN OFFICE
4-13-15 Shiohama Kawasakiku Kawasaki 210-0826 JAPAN
Tel : 044-266-1171
Fax : 044-266-1839
URL : http://www.idegami.co.jp (Of the parent,
Ikegami Tsushinki Co Ltd)
E-Mail address: info@ikegami.co.jp
ACTIVITIES
Wholesale of broadcasting equipment, parts & components
BRANCHES
Nil
OFFICERS
FUMIHIKO KAMEGAYA, PRES
Tatsuzo Iida, dir
Hiromasa Sakaguchi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 321 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen 25 M
STARTED 1993 EMPLOYES 2
COMMENT
WHOLESALER SPECIALIZING BROADCASTING EQUIPMENT, WHOLLY OWNED BY IKEGAMI TSUSHINKI CO LTD.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD
FOR MODERATE BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 3.9 MILLION, 30 DAYS, RECOMMENDING GUARANTEE FROM THE PARENT, IKEGAMI TSUSHINKI CO LTD.
NET WORTH OF Yen 25 MILLION IS SHORT OF PAID-IN CAPITAL OF YEN
30 MILLION.
HIGHLIGHTS
The subject company was established on the basis of a sales division
separated from Ikegami Tsushinki Co Ltd, leading mfr of broadcasting equipment,
Tokyo (see REGISTRATION), in order to wholesale broadcasting equipment, their
parts & equipment for wireless communications. The firm is located at Branch Office of the parent, Ikegami
Tsushinki Co Ltd.
FINANCIAL INFORMATION
The financials are only partially disclosed, as they are consolidated by the parent, Ikegami Tsushinki Co Ltd.
The sales volume for Mar/2006 fiscal term amounted to Yen 321 million, a 3.3% down from Yen 332 million in the previous term. Price competition is getting severer, despite steady demand continuing. The operations came back to profitability to register Yen 1 million net profit for the term. This compares with Yen 2 million net losses the previous year.
For the current term ending Mar 2007 the net profit is
projected at Yen 1 million, on a 9% recovery in turnover, to Yen 350
million. Demand is said steady.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 3.9 million, 30 days, we
recommending guarantee from the parent, Ikegami Tsushinki Co Ltd. Net Worth is below the paid-in capital.
REGISTRATION
Date Registered: Nov
1993
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600
shares
Sum: Yen
30 million
Major shareholders (%): Ikegami
Tsushinki Co Ltd*(100)
*.. Leading mfr of broadcasting equipment, Tokyo, founded 1948,
listed Tokyo S/E, capital Yen 8,791
million, turnover Yen 37,231 million, recurring loss Yen 132 million, net loss
Yen 199 million, total assets Yen 35,254 million, net worth Yen 10,213 million,
employees 1,103, pres Masaki Matsubara
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Wholesales broadcasting equipment, their parts
& components, for wireless communications systems (--100%)
Clients: [Mfrs, wholesalers] Ikegami Tsushinki, Showa Lease, Toshiba Finance, Techno Ikegami, Teletech Co, SMBC Leasing Co, Kokihifumi Co, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Ikegami Tsushinki, Fujinon, Nac
Image Technology, Leader Electronics, other.
Payment record: Regular
Location: Business area in Kawasaki. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Kamata)
SMBC (Kamata)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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350 |
321 |
332 |
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Recur.
Profit |
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.. |
.. |
-2 |
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Net
Profit |
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1 |
1 |
-2 |
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Total
Assets |
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N/A |
150 |
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Net
Worth |
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25 |
24 |
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Capital,
Paid-Up |
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30 |
30 |
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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 |
9.03 |
-3.31 |
-27.83 |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
16.00 |
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N.Profit/Sales |
0.29 |
0.31 |
-0.60 |
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Note: Financials are only partially disclosed.
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%)