MIRA
INFORM REPORT
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Report Date : |
08.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NEW LIFE CO LTD |
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Registered Office : |
2-7-1 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Oct 1982 |
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Legal Form : |
Private Limited Company (Yugen
Gaisha) |
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Line of Business : |
Retail of water purifier,
natural water |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 0.5 million |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
NEW LIFE CO LTD
REGD NAME
YK New Life
MAIN OFFICE
2-7-1
Tel:
098-892-8753
Fax: 098-892-8754
URL : N/A
ACTIVITIES
Retail
of water purifier, natural water
STORE
At the
caption address
OFFICERS
MASAKAZU
ARAGAKI, PRES
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES WEAK A/SALES Yen 50 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen
1 M
STARTED 1982 EMPLOYES 5
COMMENT
RETAILER SPECIALIZING IN WATER PURIFIER & NATURAL WATER. FINANCIAL SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 0.5 MILLION, 30 DAYS TERMS, PROVIDED ALL CREDITS ARE RECOMMENDED STRICTLY UNDER GUARANTEE.
HIGHLIGHTS
The subject company was established originally in 1975 as YK
Tigers Shoji for retailing water purifying devices and later when the firm
obtained licensee agreement for marketing “New Life”
brand water purifiers in
FINANCIAL INFORMATION
Financials are only partially disclosed. The last when the firm released digested financials was for the 31/03/2003 fiscal term. The total assets reported at Yen 14 million with negative net worth.
The sales volume for 31/03/2006 fiscal term amounted to Yen 50 million, a 6% down from Yen 53 million in the previous term. Consumer demand remained sluggish. The profits are reported at a minimum amount post-taxes
For the term just ended Mar 2007 the net profit was projected at Yen 1 million, on a 10% recovery in turnover, to Yen 55 million. This target has reportedly been achieved, but no final results as yet.
The financial situation is considered WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 0.3 million, on 30 days terms. We recommend that any & all credits to be strictly on guaranteed terms.
REGISTRATION
Date
Registered: Oct 1982
Legal
Status: Private Limited
Company (Yugen Gaisha)
Regd
Capital: Yen 3 million
Major
shareholders (%): Masakazu Aragaki (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Retails health-care equipment & supplies (--100%): water purifying devices & supplies, natural water, mineral water, natural skin-care products, health-care goods & equipment (high-voltage & hyperthermic potentiation), other.
Clients: Consumers
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in
Suppliers:
[Mfrs] Dr Toron Co, KK Okano, other.
Payment
record: Regular
Location: Business area in
Bank References
Bank
of Ryukyus (Ohjana)
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 |
31/03/2004 |
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Annual
Sales |
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55 |
50 |
53 |
55 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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1 |
0 |
1 |
1 |
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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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1 |
1 |
0 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
10.00 |
-5.66 |
-3.64 |
-25.68 |
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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 |
1.82 |
0.00 |
1.89 |
1.82 |
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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%)