MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
LIFE FITNESS JAPAN LTD |
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Registered Office : |
Nippon Brunswick Bldg 8F, 5-27-7 Sendagaya Shibuyaku Tokyo
151-0051 |
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Country : |
Japan |
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Date of Incorporation : |
Jun 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of fitness
equipment & supplies |
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 21 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
LIFE FITNESS JAPAN LTD
REGD NAME
Life Fitness Japan KK
MAIN OFFICE
Nippon Brunswick Bldg 8F, 5-27-7 Sendagaya Shibuyaku Tokyo
151-0051 JAPAN
Tel : 03-3359-4309
Fax : 03-3359-4307
URL: http://www.lifefitnessjapan.com
E-Mail address: sales@lifefitnessjapan.com
ACTIVITIES
Import, wholesale of fitness equipment & supplies
BRANCHES
Osaka
FACTORY(IES)
At the caption address (repairing, maintenance works)
OFFICERS
PAUL SHIPPEE, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,155 M
PAYMENTS REGULAR CAPITAL Yen 61 M
TREND STEADY WORTH Yen 186 M
STARTED 1999 EMPLOYES 25
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN FITNESS EQUIPMENT,
WHOLLY OWNED BY BRUNSWICK CORP, USA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINRY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 21 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established in order to market fitness
machines & equipment of Life Fitness, a division of Brunswick Corp,
USA. Specializes in importing and
wholesaling fitness machines, equipment, supplies and accessories. Also offers technical support, repairing,
maintenance and associated after-sales services. Goods are imported from USA centrally. Clients include fitness centers, hospitals, sports clubs, hotels,
government agencies, sports teams, schools, other, nationwide. Tokyo Office covers the eastern part of
Japan and the Osaka Office western part of Japan.
FINANCIAL INFORMATION
The firm does not disclose full financials, only except the following partial figures.
The sales volume for Dec/2005 fiscal term amounted to Yen 1,155 million, a 7% up from Yen 1,080 million in the previous term. The net profit is estimated posted at Yen 50 million, up from Yen 48 million the previous year. The net profit is not disclosed and the above figures have been estimated from the pretax profits released from the Taxation Office.
For the term ended Dec 2006 the net profit is believed posted
at Yen 52 million, on a 4% rise in turnover, to Yen 1,200 million. Final figures are yet to be released. Business is seen expanding steadily with
elderly population increasing who are eager to do fitness & physical
exercising.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 21 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1999
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,220
shares
Issued: 1,220
shares
Sum: Yen
61 million
Major shareholders (%): Brunswick Corp, USA (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales fitness machines &
equipment (--85%), their associated parts, supplies, accessories, technical
support, maintenance & repairing services
(--15%).
Also offers & operates training & fitness courses.
(Handling
items):
Fitness bikes, treadmills, hammer strength, stair climbers,
cross trainers, total body trainers, functional training machines, vibrating
machines, strength machines, benches & racks, home gym systems, free weight
systems, cable motion, other.
Clients: [Sports clubs, fitness centers, hotels, hospitals, government agencies] Tokyu Sports Oasis, Central Sports, Megalos Co, Renaissance Incorporated, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from Life Fitness USA
and group firms. Also supplied from
domestic suppliers.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Ginza)
MUFG (Shinjuku)
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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1,200 |
1,155 |
1,080 |
1,000 |
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Recur.
Profit |
(*) |
.. |
.. |
81 |
107 |
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Net
Profit |
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52 |
50 |
48 |
64 |
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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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186 |
136 |
88 |
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Capital,
Paid-Up |
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61 |
61 |
61 |
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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 |
3.90 |
6.94 |
8.00 |
0.00 |
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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 |
4.33 |
4.33 |
4.44 |
6.40 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2006 fiscal term.
(*) Pretax profits disclosed from the Taxation Office.
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%)