MIRA INFORM REPORT

 

 

Report Date :

13.11.2007

 

IDENTIFICATION DETAILS

 

Name :

OR CORPORATION

 

 

Registered Office :

Uchida Bldg, 2-4-1 Yanagibashi Taitoku Tokyo 111-0052

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

Apr 1985

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of jewels

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Maximum Credit Limit :

Yen 2.2 millions

 

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

name

 

OR CORPORATION

 

 

REGD NAME

 

KK Ohru (pronounced as “All” in Japanese)

 

 

MAIN OFFICE

 

Uchida Bldg, 2-4-1 Yanagibashi Taitoku Tokyo 111-0052 JAPAN

Tel        : 03-3864-7767

Fax       : 03-3964-1366

URL      : N/A

 

 

ACTIVITIES

 

Import, wholesale of jewels

 

 

BRANCHES

 

Nil

 

 

FACTORY(IES)

 

Bangkok (Thailand) (subsidiary mfr)

 

 

OFFICERS

 

ICHIRO SUDA, PRES

Katsuji Yamaoka, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        R/WEAK                       A/SALES          Yen 180 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 35 M

STARTED         1985                             EMPLOYES      4

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$60,000 / O/A 60 DAYS.

 

MAX CREDIT LIMIT: YEN 2.2 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

           

The subject company was established originally by Katsuji Yamaoka in order to make most of his experience in the subject line of business, and was transferred to Ichiro Suda in Apr 1997, who assumed the pres office then.  This is a trading firm specializing in jewelry products from Bangkok, where the firm has a subsidiary jewelry processing factory.  Handling items, precious stones, fingerings, earrings, bracelets, necklaces, pendants, gold, platinum, other precious metal products.  Goods are processed at its subsidiary factory in Bangkok, Thailand and imported. Clients include department stores, jewelry stores, etc, centering in the            greater-Tokyo region. 

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed.

 

The sales volume for Mar/2007 fiscal term amounted to Yen 180 million, a 10% down from Yen 200 million in the previous term.  Demand continued lackluster among sluggish consumer spending, with prices continuing under pressure.  The net profit declined to a minimum amount post-taxes.

 

For the current term ending Mar 2008 the net profit is projected at Yen 1 million, on a 6% rise in turnover, to Yen 190 million.  Demand is seen rising for luxury goods.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 2.2 million, on 30 days normal terms.

 

 

REGISTRATION

           

Date Registered:            Apr 1985

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    800 shares

Issued:                          200 shares

Sum:                            Yen 10 million

Major shareholders (%): Ichiro Suda (100)

 

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

 

 

OPERATION

 

Activities: Imports and wholesales fingerings, earrings, pendants, necklaces, bracelets, gold, silver, platinum products, other jewelry (--100%).  Products are branded as “Naho Kimura”.           

 

Products are mostly manufactured at subsidiary factory in Bangkok. 

 

Also imports from other sources.

 

Clients: [Department stores, jewelry stores] Odakyu Department Stores, Arimoto Jewel, Mizukei, Furuya Jewelry, Keio Department Stores, other.

 

No. of accounts: 110

 

Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs] Imports from Thailand (subsidiary mfr), other. 

 

Also partially supplied from domestic jewelry processors.

 

Payment record: Regular

 

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

 

 

Bank References

 

Mizuho Bank (Asakusabashi)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

31/03/2008

31/03/2007

31/03/2006

31/03/2005

Annual Sales

　

190

180

200

202

Recur. Profit

　

　

　

　

　

Net Profit

　

1

0

1

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

35

35

34

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

5.56

-10.00

-0.99

-1.46

       Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

0.53

0.00

0.50

0.50

 

Notes: Financials are not disclosed only except the above partial figures.

Forecast (or estimated) figures for 31/03/2008 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.

 

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