MIRA
INFORM REPORT
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Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL PRODUCTS INC |
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Registered Office : |
Cherry Garden 207, 4-17 Sakuragaoka Shibuyaku Tokyo
150-0031 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
Jul 1971 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of stainless steel
cookware |
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 14.1 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ROYAL PRODUCTS INC
REGD NAME
KK Royal Products
MAIN OFFICE
Cherry Garden 207, 4-17 Sakuragaoka Shibuyaku Tokyo 150-0031
JAPAN
Tel : 03-3463-0210
Fax : 03-3463-4786
URL : http://www.royalproducts.co.jp
E-Mail address: info@royalproducts.co.jp
* Moved to the caption address in 2007 from the former at: Daikan’Yama Pacific 216, 10-14 Sarugakucho Shibuyaku Tokyo, as given
ACTIVITIES
Import, wholesale of stainless steel cookware
BRANCHES
Nil
OFFICERS
TAKASHI YOSHIDA, PRES
Kaoru Idogaki, mgn dir
Kimiko Yoshida, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 800 M
PAYMENTS REGULAR CAPITAL Yen 62 M
TREND SLOW WORTH Yen 139 M
STARTED 1971 EMPLOYES 15
COMMENT
IMPORTER SPECIALIZING IN COOKWARE. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14.1 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Takashi Yoshida in order
to make most of his experience in the subject line of business. This is a trading house for importing and
wholesaling stainless steel cookware, detergent, other household goods. Goods are imported from USA centrally. Clients are specialty dealers in the similar
business line, covering nationwide.
Operates cooking classes, too.
Goods are also retailed online.
FINANCIAL INFORMATION
The sales volume for Jun/2007 fiscal term amounted to Yen 800
million, a 1% down from Yen 810 million in the previous term. This business is under harsh competition
among the trade with similar cooking ware selling online. The net profit decreased to Yen 4 million
from Yen 5 million a year ago.
For the current term ending Jun 2008 the net profit is
projected at Yen 5 million, on a 1% rise in turnover, to Yen 810 million. Business is seen steady.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 14.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul 1971
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 499,200 shares
Issued: 124,800 shares
Sum: Yen 62.4 million
Major shareholders (%): Takashi Yoshida (majority owned)
No. of shareholders: 6
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales stainless steel cookware,
detergent, other household utensils (--100%).
Goods are imported from USA.
Goods are sold online, too.
Holds cooking classes, including online classes.
Clients: [Specialty stores, wholesalers] Royal Queen, IPS, Easy wares, Sanyo Color Photo, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs] Regal Ware Inc, Bon Amie, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Kosan Shinkin Bank (Shibuya)
MUFG (Shibuya-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual Sales |
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810 |
800 |
810 |
793 |
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Recur. Profit |
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Net Profit |
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5 |
4 |
5 |
4 |
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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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139 |
135 |
130 |
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Capital, Paid-Up |
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62 |
62 |
62 |
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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 |
1.25 |
-1.23 |
2.14 |
-6.26 |
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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 |
0.62 |
0.50 |
0.62 |
0.50 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 30/06/2008 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. |
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%)