MIRA
INFORM REPORT
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Report Date : |
26.05.2007 |
IDENTIFICATION DETAILS
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Name : |
OVERSEAS CO LTD |
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Registered Office : |
Azegami Bldg 2F, 2-20-6 Daita Setagayaku |
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Country : |
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Financials (as on) : |
31.05.2006 |
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Date of Incorporation : |
Nov 1996 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of wines, foodstuffs |
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 45.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
OVERSEAS CO LTD
REGD NAME
KK Overseas
MAIN OFFICE
Azegami Bldg 2F, 2-20-6 Daita Setagayaku
Tel : 03-5779-7545
Fax : 03-5779-7590
URL : http://www.overseasvinarte.co.jp
E-Mail address: overseas@topaz.ocn.ne.jp
ACTIVITIES
Import, wholesale of wines, foodstuffs
BRANCHES
Nil
OFFICER(S)
NOBUO ODA, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,230 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 180 M
STARTED 1996 EMPLOYES 18
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN WINES & FOODS, OWNED BY CAMEL COFFEE CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 45.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established on the basis of the trading division separated from Camel Coffee Co Ltd, retailer of imported foodstuffs, Tokyo (see REGISTRATION), in order to focus on wine imports. Nobuo Oda is concurrently pres at the parent. The subject is virtually the import division of the parent, though separately & independently organized, for import of wines and other foodstuffs from Italy, France, Germany, UK, Netherlands, other. Major portion of the imports are shipped to the parent, and also to hotel chains, department stores, food stores, wine shops, etc, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2006 fiscal term amounted to Yen 2,230 million, a 60% jump from Yen 1,400 million in the previous term. This is attributed to the increased number of new store openings by the parent, 25 stores newly added during 2006, creating robust demand for imported wines & foodstuffs, also the expansion of client networks into department store chains. The net profit was posted at Yen 40 million, compared with Yen 25 million the previous term.
For the current term ending May 2007 the net profit is projected at Yen 45 million, on a 17% rise in turnover, to Yen 2,600 million. New store openings by the parent will continue.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 45.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1996
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Camel Coffee Co Ltd*(40), Nobuo Oda (30), Setsuko Oda (30)
No. of shareholders: 3
*..Imported foods store chain operator of 120 stores nationwide, including one in Thailand, based in Tokyo, owned by Nobuo Oda and families, founded 1977, capital Yen 50 million, turnover Yen 13,300 million, employees 350, pres Nobuo Oda concurrently.
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales wines & foodstuffs (100%).
(Foodstuffs include): bottled/canned foods, olive oils, sauces, jam, spaghetti, pasta, pasta sauces, olives, tomatoes, cookies, other.
Imports from:
Clients: [Food dealers, hotels, department stores] Camel Coffee Co, Kokubu Ltd, Tokyu Hands, Au Printemps Ginza, Mitsukoshi, Wataru & Co, Hotel New Otani, Queen Isetan, Daimaru Peacock, Sanyodo, other.
No. of accounts: 300-500
Domestic areas of activities: Nationwide
Suppliers: [Negociants, food dealers] Imports from
Payment record: Regular
Location: Business area in
Bank References
Resona Bank (Shin-Toshin)
Bank of
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 |
31/05/2004 |
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Annual
Sales |
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2,600 |
2,230 |
1,400 |
1,000 |
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Recur.
Profit |
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.. |
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.. |
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Net
Profit |
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45 |
40 |
25 |
25 |
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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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180 |
130 |
105 |
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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 |
16.59 |
59.29 |
40.00 |
11.11 |
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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 |
1.73 |
1.79 |
1.79 |
2.50 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures 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%)