MIRA
INFORM REPORT
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Report Date : |
27.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KOISHI SHOTEN CO LTD |
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Registered Office : |
Sankocho Heim 708, 5-17-6 Shinjuku Shinjukuku Tokyo 160-0022 |
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Country : |
Japan |
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Date of Incorporation : |
Dec 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, retail of jewelry |
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 14.5 millions |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
KOISHI SHOTEN CO LTD
REGD NAME
KK Koishi Shoten
MAIN OFFICE
Sankocho Heim 708, 5-17-6 Shinjuku Shinjukuku Tokyo 160-0022 JAPAN
Tel: 03-3205-2529
Fax: 03-3353-0108
*.. Registered at: 2-23-4 Nakamura-Minami Nerimaku Tokyo
URL: N/A
ACTIVITIES
Import, wholesale, retail of jewelry
STORES
Shinjuku, Kichijoji, Matsudo, Urawa, Niigata, Sagamihara (-- in-shops in Isetan Department Store)
FACTORY(IES)
(Subcontracted)
OFFICER(S)
Sadatoshi Koishi, ch
TETSUYA KOISHI, PRES
Kazuko Ohmori, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 974 M
PAYMENTS REGULAR CAPITAL Yen 28 M
TREND STEADY WORTH Yen 364 M
STARTED 1953 EMPLOYES 50
COMMENT
IMPORTER, WHOLESALER & RETAILER OF JEWELRY. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Sadatoshi Koishi in order to make most of his experience in the subject line of business. Tetsuya is the founder’s son. Operated solely by Koishi families. Specializes in importing and wholesaling diamonds, sapphire, ruby, other gem stones, and jewelry products. Also handles artificial gem stones. Stones are processed into jewelry products at subcontracted factories. Operates 6 in-shops in Isetan Department Stores and its branch stores. Goods are imported form Hong Kong, Thailand, etc. Clients are local jewelry stores. Has a strong foothold in the industry backed by over 50 years business operation at the caption address.
FINANCIAL INFORMATION
Financial
are only partially disclosed.
The sales
volume for Dec/2005 fiscal term amounted to Yen 974 million, a 7% up from Yen
912 million in the previous term. The
operations returned profitability to post Yen 3 million net profit, compared
with Yen 9 million net losses a year ago.
For the term ended Dec 2006 the operations were projected and
believed posted at Yen 3 million, on a 3% rise in turnover, to Yen 1,000
million. Actual results have not been
made available.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 14.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1953
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 224,000
shares
Issued: 56,600
shares
Sum: Yen
28.3 million
Major shareholders (%): Sadatoshi Koishi, Tetsuya Koishi,
and families (--100)
No. of shareholders: 14
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, wholesales and retails diamonds, ruby,
sapphire, emerald, other gem stones (including artificial stones); necklaces,
earrings, fingerings, pendants, other jewelry products
(--100%).
Operates 6 in-shops at Isetan Department Stores, main stores
and branches.
Goods are imported from Hong Kong, Thailand, etc.
Clients: [Jewelers, department stores] Isetan Department Stores (6 in-shops), Koishi Hoseki (Jewelry), Koishi (--subsidiaries), other
No. of accounts: 300
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Oriental Diamond, Kashikey,
Tatsumi Shoten, Imayo & Co, Shiono Shoten, Uno A Erre Japan, other.
Imports from Hong Kong, Thailand, etc.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Shinjukudori)
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 |
31/12/2003 |
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Annual
Sales |
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1,000 |
974 |
912 |
1,301 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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3 |
3 |
-9 |
5 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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364 |
361 |
370 |
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Capital,
Paid-Up |
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28 |
28 |
28 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.67 |
6.80 |
-29.90 |
17.00 |
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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 |
0.30 |
0.31 |
-0.99 |
0.38 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures 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%)