MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
WORK HOUSE CO LTD |
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Registered Office : |
New Crescent Bldg 1F, 2268-1 |
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Country : |
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Financials (as on) : |
31.05.2006 |
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Date of Incorporation : |
Jun 1995 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of sporting
goods, everyday sundries |
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 3.3 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
WORK HOUSE CO LTD
REGD NAME
KK Work House
MAIN OFFICE
New Crescent Bldg 1F, 2268-1
Tel : 042-379-0350
Fax : 042-379-0360
URL : http://www.work-house.co.jp/
E-mail :
info@work-house.co.jp
ACTIVITIES
Import,
wholesale of sporting goods, everyday sundries
BRANCHES
Nil
OFFICERS
NOBUO
HONDA, PRES
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 180 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
23 M
STARTED 1995 EMPLOYES 3
COMMENT
IMPORTER SPECIALIZING IN EVERYDAY SUNDRIES, SPORTING GOODS, OTHERS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS, BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$25,000 / O/A 15 DAYS.
MAX CREDIT LIMIT: YEN 3.3 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Nobuo Honda in order t make most of his experience in foreign trading. This is a trading house, owned and operated by the Honda family, specializing in import and wholesale of everyday sundries, sporting goods, other. Clients include department stores, mail-order houses, travel agency stores, other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2006 fiscal term amounted to Yen 180 million, a 6% up from Yen 170 million in the previous term. The net profit was posted at Yen 2 million, compared with Yen 1 million a year ago.
For the current term ending May 2007 the net profit is projected at Yen 2 million, on a 6% rise in turnover, to Yen 190 million. Weaker Yen will contribute to sales growth in Yen terms.
The financial situation is considered maintained FAIR and good for ordinary business engagements. The proposed amount for 15 days terms, however, is considered TOO HIGH from the recent financials status. Max credit limit is estimated at Yen 3.3 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jun 1995
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Nobuo Honda (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales everyday sundries, sporting goods, others (--100%).
(Some
Items imported):
T-shirts, underwear, sports wear (Brynje); Aladdin brass & glass lamps, their parts; Card/ticket holders (Franca Leonardi); sweaters (Kanata Hand Knit Inc); wallets (Joel William); socks, magnifying glasses, other sundries & outdoor goods.
Clients: [Department stores, catalog sales agencies, chain stores] Takashimaya, Catalog House, Suntory Shopping Club, Jalux, Royal Stage, All Nippon Airways Trading, other.
No. of accounts: 300
Domestic
areas of activities: Centered in greater
Suppliers: [Mfrs, wholesalers] Imports from Franca Leonardi, Ultimate Products, Aladdin, Joel William, Kanata Hand Knit Inc, other.
Payment
record: Regular
Location: Business area in
Bank References
MUFG (Chofu)
Resona
Bank (Machida-Chuo)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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190 |
180 |
170 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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2 |
2 |
1 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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23 |
21 |
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Capital,
Paid-Up |
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10 |
10 |
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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 |
5.56 |
5.88 |
11.84 |
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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 |
1.05 |
1.11 |
0.59 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/05/2007 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%)