MIRA INFORM REPORT

 

 

Report Date :

28.05.2007

 

IDENTIFICATION DETAILS

 

Name :

EHON HOUSE PUBLISHING INC

 

 

Registered Office :

Mejiro Kubo Bldg 5F, 1-7-14 Mejiro Toshimaku Tokyo 171-0031

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

Jul 1984

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of picture story books, character goods, toys

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 3.3 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

--

 

 

name

 

EHON HOUSE PUBLISHING INC

 

 

REGD NAME

 

KK Ehon No Ie (Ehon is picture story book; Ie is house)

 

 

MAIN OFFICE

 

Mejiro Kubo Bldg 5F, 1-7-14 Mejiro Toshimaku Tokyo 171-0031JAPAN

Tel        : 03-3985-3350   

Fax       : 03-3985-4127

URL      : http://www.5abiglobe.ne.jp

E-Mail address: ehon@mte.biglobe.ne.jp

 

 

ACTIVITIES

 

Import, wholesale of picture story books, character goods, toys

 

 

BRANCHES

 

Mejiro (Retail store)

 

 

OFFICERS

 

KEIKO KOMATSUZAKI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 161 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 30 M

STARTED         1984                             EMPLOYES      4

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN PICTURE BOOKS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 3.3 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established by Keiko Komatsuzaki in order to make most of her experience in the subject line of business.  Specializes in importing and wholesaling picture story books, calendars, cartoon character goods, wooden toys, other.  Also publishes translated            picture books.  Books are imported from UK, USA, Germany, Switz, Denmark, other.  Clients             are department stores, book stores, etc.

 

 

FINANCIAL INFORMATION

           

The firm stopped releasing full financials as from the 31/03/2005 fiscal term, when the operations went into the red.

 

The sales volume for Mar/2006 fiscal term amounted to Yen 161 million, a 31% up from Yen 123 million in the previous term.  Weaker Yen against foreign currencies contributed.  Imports of character goods rose.  The operations came back to profitability to post Yen 3 million net profit, compared with Yen 7 million net losses the previous year.

 

For the term ended Mar 2007 the net profit is believed posted at Yen 3 million, on a 12% rise in turnover, to Yen 180 million.  Weaker Yen against Euros should have contributed.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 3.3 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:            Jul 1984

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    800 shares

Issued:                          200 shares

Sum:                            Yen 10 million

Major shareholders (%): Keiko Komatsuzaki (50), other

No. of shareholders:       7

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports and wholesales (partially retails) picture story books, calendars, cartoon character goods, wooden toys, others; publishes translated picture books           (--100%).

 

Clients: [Bookstores, publishers, department stores] Mitsukoshi, Isetan, Osakaya, Hankyu Department Stores, Tokyu Hands, Sony Plaza, Crayon House, TRC Inc, Nihon Vogue, other. 

 

No. of accounts: 300

 

Domestic areas of activities: Nationwide

 

Suppliers: [Publishers] Penguin Books, Egmont Children’s Books (each 10%), Penguin Books, Random House Publishers, Harper Collins Publishers, Nord-Sud, Crocodile, Drexel, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

MUFG (Higashi-Ikebukuro)

Mizuho Bank (Takatanobaba)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

 

Terms Ending:

　

31/03/2007

31/03/2006

31/03/2005

31/03/2004

Annual Sales

　

180

161

123

139

Recur. Profit

　

..

..

..

1

Net Profit

　

3

3

-7

1

Total Assets

　

　

N/A

N/A

85

Net Worth

　

　

30

27

34

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

11.80

30.89

-11.51

-14.20

       Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

40.00

       N.Profit/Sales

1.67

1.86

-5.69

0.72

 

Note: Financials are only partially disclosed.

Forecast (or estimated) for the 31/03/2007 fiscal term.

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions