MIRA
INFORM REPORT
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Report Date : |
28.05.2007 |
IDENTIFICATION DETAILS
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Name : |
FREUDE CO LTD |
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Registered Office : |
16-9 Asatani Tarumiku |
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Country : |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
Mar 1991 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Export of playground equipment |
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 500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
FREUDE CO LTD
REGD NAME
KK Freude
MAIN OFFICE
16-9 Asatani
Tarumiku
Tel : 078-753-2416
Fax : 078-753-2416
URL : N/A
ACTIVITIES
Export
of playground equipment
BRANCHES
Nil
OFFICERS
KATSUYUKI
KAWAMURA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 26 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
25 M
STARTED 1991 EMPLOYES 3
COMMENT
EXPORTEROF PLAYGROUND EQUIPMENT. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 500,000.00, 30 DAYS
RECOMMEND
SECURED TERMS ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established by Katsuyuki Kawamura in
order to make most of his experience in the subject line of business. This is a family-based trader, operating at
his home address, specializing in export of play equipment for amusement
parks. Exports to
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2006 fiscal term amounted to Yen 26
million, a 136% hike from Yen 11 million in the previous term. Exports rose into
For the term ending Feb 2007 the operations are believed come back to profitability to post Yen 5 million net profit, on a 15% rise in turnover, to Yen 30 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 500,000.00, on 30 days normal terms. Secured terms are recommended on new transactions.
REGISTRATION
Date Registered: Mar 1991
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%):
Katsuyuki Kawamura (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities:
Exports play equipment & facilities for amusement parks (--100)
Clients:
[Mfrs, wholesalers] Exports to
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in
Suppliers:
[Mfrs, wholesalers] Supplied from domestic suppliers.
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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28/02/2007 |
28/02/2006 |
28/02/2005 |
28/02/2004 |
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Annual
Sales |
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30 |
26 |
11 |
11 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
-3 |
2 |
2 |
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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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25 |
28 |
26 |
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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 |
15.38 |
136.36 |
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 |
16.67 |
-11.54 |
18.18 |
18.18 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 28/02/2007 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%)