MIRA
INFORM REPORT
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Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
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Name : |
FLOWER AUCTION JAPAN INC |
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Registered Office : |
Ohta Shijo Kakibu, 2-2-1 Tokai Ohtaku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1990 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Wholesale, auction of cut
flower, potted flowers |
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 622.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
FLOWER AUCTION JAPAN INC
REGD NAME
KK Flower Auction
MAIN OFFICE
Ohta Shijo Kakibu,
2-2-1 Tokai Ohtaku
(Ohta Shijo means
Ohta wholesale market; Kakibu means flower division).
Tel: 03-3799-5525
Fax: 03-3799-5521
URL : http://www.faj.co.jp
E-Mail
address: (thru the URL)
ACTIVITIES
Wholesale,
auction of cut flower, potted flowers
BRANCHES
Nil
OFFICERS
MASAHIRO
IKEDA, PRES Shiro
Miyamoto, v pres
Toyoji
Suzuki, s/mgn dir Toshizo
Tokushi
Muramatsu, dir Kyu
Nagaoka, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 23,071 M
PAYMENTS REGULAR CAPITAL Yen 300 M
TREND STEADY WORTH Yen
1,677 M
STARTED 1990 EMPLOYES 135
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN CUT FLOWERS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 622.4. MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established originally in 1988 for wholesaling (by auction) of cut flowers, and was incorporated in 1990. This is a wholesaler (by auction) of cut flowers, potted flowers in the Ohta Wholesale Market. Clients are flower markets, flower wholesalers, consumer, other, nationwide. Goods are also imported.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 23,071 million, a 2% up from Yen 22,624 million in the previous term. The recurring profit was posted at Yen 242 million and the net profit at Yen 130 million, respectively, compared with Yen 186 million recurring profit and Yen 100 million net profit, respectively, a year ago.
For the term just ended Mar 2007 the net profit was projected and believed posted at Yen 135 million, on a 3% rise in turnover, to Yen 23,800 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 622.4 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Sept 1990
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 24,000 shares
Issued: 6,000 shares
Sum: Yen 300 million
Major shareholders (%): Nikkan Shizai (48.9), Shibafubana (15.2), Shiro Miyamoto (8.7), Toyota Suzuki (8.3),
Fusako Miyamoto (7.9)
No. of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesaler (by auction) specializing in cut flowers, potted flowers & plants (--100%).
Clients:
Flower markets, wholesalers, chain stores, consumers, other
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers:
Growers, farm coops, other
Payment
record: Regular
Location: Business area in
Bank References
MUFG
(Mita)
Mizuho
Bank (Omori)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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23,800 |
23,071 |
22,624 |
22,442 |
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Recur.
Profit |
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242 |
186 |
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Net
Profit |
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135 |
130 |
100 |
106 |
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Total
Assets |
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4,857 |
4,766 |
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Current
Assets |
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2,696 |
2,487 |
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Current
Liabs |
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1,929 |
1,804 |
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Net
Worth |
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1,677 |
1,576 |
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Capital,
Paid-Up |
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300 |
300 |
300 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.16 |
1.98 |
0.81 |
-1.27 |
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Current Ratio |
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.. |
139.76 |
137.86 |
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N.Worth Ratio |
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34.53 |
33.07 |
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R.Profit/Sales |
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1.05 |
0.82 |
.. |
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N.Profit/Sales |
0.57 |
0.56 |
0.44 |
0.47 |
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Return On Equity |
.. |
7.75 |
6.35 |
.. |
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Note:
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%)