MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NARUI CORPORATION |
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Registered Office : |
680 |
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Country : |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
Jan
1999 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Import,
wholesale of timber, bamboo |
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 1.2 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
NARUI CORPORATION
REGD NAME
KK Narui
MAIN OFFICE
680 Egami
Jojimacho
Tel: 024-923-1913
Fax: 024-938-2328
URL: N/A
ACTIVITIES
Import,
wholesale of timber, bamboo
BRANCHES
Nil
OFFICERS
TOMOAKI
NARUI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 80 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
10 M
STARTED 1999 EMPLOYES 1
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN TIMBER & BAMBOO. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1.2 MILLION, 30 DAYS, RECOMMENDING SECURED TERMS ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established by Tomoaki Narui in order
to make most of his experience in the subject line of business. A one-man operated trading firm specializing
in import and wholesale of timber and
bamboo as building materials. Goods are
imported from
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Sept/2006 fiscal term amounted to Yen 80 million, a 20% down from Yen 100 million in the previous term. Timber imports decreased due to reasons of forest conservation in S/E Asian countries. The net profit declined to a minimum amount post-taxes from Yen 1 million a year ago. The firm booked net losses of Yen 5 million for the Sept/2002 term. Hence, the net worth is estimated at Yen 10 million, equal to the paid-in capital.
For the current term ending Sept 2007 the net profit is projected at Yen 1 million, on a 25% rise in turnover, to Yen 100 million. Timber imports are expected to revive; also weaker Yen will contribute to sales growth in Yen terms.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 1.2 million, on 30 days, we recommending guaranteed terms on new transactions.
REGISTRATION
Date
Registered: Jan 1999
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Tomoaki Narui (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales timber, bamboo as building materials (--100%).
Clients: [Furniture mfrs, timber traders] Morita Interior Kogyo, Hiromatsu Furniture Inc, Nakada Zaimokuten, Eto Co, Marukin Co, other.
No. of
accounts: 100
Domestic
areas of activities: Centered in Fukuoka-Pref
Suppliers: [Mfrs, wholesalers] Imports from
Also
supplied from Yamaei Sangyo, and some other domestic suppliers.
Payment
record: Regular
Location: Business area in
Bank References
Nishinippon
City Bank (Okawa)
Bank
of
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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100 |
80 |
100 |
100 |
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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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10 |
10 |
10 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
25.00 |
-20.00 |
0.00 |
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 |
1.00 |
0.00 |
1.00 |
1.00 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 30/09/2007 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%)