MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SEIKO SHOKAI CO LTD |
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Registered Office : |
1-4-8 Midorigaoka Kofu Yamanashi-Pref 400-0008 |
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Country : |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
Oct 2002 |
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Legal Form : |
Private Limited Company (Yugen
Gaisha) |
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Line of Business : |
Import, wholesale of jewelry |
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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
SEIKO SHOKAI CO LTD
REGD NAME
Seiko Shokai YK
MAIN OFFICE
1-4-8 Midorigaoka
Kofu Yamanashi-Pref 400-0008 JAPAN
Tel : 055-252-1771
Fax : 055-252-1772
URL : N/A
ACTIVITIES
Import,
wholesale of jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
YOSHIYUKI
KUBODERA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 80 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen
12 M
STARTED 2002 EMPLOYES 3
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 60 DAYS AFTER SHIPMENT DATE.
HIGHLIGHTS
The subject company was established originally in 1972 and was incorporated in 2002. This is a family-based trader, operating from the home residence, specializing in importing and wholesaling jewelry. Handles colored stones such as ruby, sapphire, etc and products. Goods are imported and partially subcontracted mfg to local jewelry processors into products.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Sept/2006 fiscal term amounted to Yen 80 million, a similar amount in the previous term. Business is slow with consumer spending not fully recovered. The net profit remained similar at Yen 3 million post-taxes.
For the current term ending Sept 2007 the net profit is projected at Yen 3 million, on a 6% rise in turnover, to Yen 85 million. Weaker Yen may contribute to sales growth in Yen terms.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. The proposed amount for 60 days terms, however, is considered TOO HIGH from the recent financial status.
REGISTRATION
Date
Registered: Oct 2002
Legal
Status: Private Limited
Company (Yugen Gaisha)
Regd
Capital: Yen 3 million
Major shareholders (%): Yoshiyuki Kubodera (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales jewelry (100%): sapphire, ruby and other colored stones and jewelry products. Stones are partially subcontracted mfg into products at local jewelry processors.
Clients: Jewelry processors, jewelry stores, chain stores, other.
No. of
accounts: 50
Domestic
areas of activities: Centered in greater-Tokyo & Kansai.
Suppliers:
Mfrs, jewelry processors, other.
Payment
record: Regular
Location: Business area in
Bank References
Kofu
Shinkin Bank (H/O)
Resona
Bank (
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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85 |
80 |
80 |
90 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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3 |
3 |
3 |
4 |
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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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12 |
9 |
6 |
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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 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.25 |
0.00 |
-11.11 |
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 |
3.53 |
3.75 |
3.75 |
4.44 |
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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%)