MIRA
INFORM REPORT
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Report Date : |
28.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
WESCO CO INC |
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Registered Office : |
General Bldg 3F, 1-1-11 Takasago Chuoku Fukuoka 810-0011 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
Aug 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cooking
utensils, water evaporators |
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. |
Small |
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Maximum Credit Limit : |
Yen 12 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
WESCO CO INC
REGD NAME
Wesco KK
MAIN OFFICE
General Bldg 3F, 1-1-11 Takasago Chuoku Fukuoka 810-0011 JAPAN
Tel : 092-533-1234
Fax : 092-533-1188
URL : http://www.wesco-inc.co.jp/
E-Mail address: wesco@k9.dion.ne.jp
*.. Moved to the caption address in Jan 2007 from the former at: 3-14-20
Haruyoshi Chuoku Fukuoka, as given
ACTIVITIES
Import, wholesale of cooking utensils, water evaporators
BRANCHES
Tokyo, Oita
OFFICERS
TETSUJI YAMAMOTO, PRES
Eitaro Yamamoto, dir
Yoshinobu Yamamoto, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 800 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 36 M
STARTED 2001 EMPLOYES 150
COMMENT
IMPORTER SPECIALIZING IN COOKWARE. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1970 by
Eitaro Yamamoto, on his account, and was incorporated in 2001. Tetsuji is the founder’s son. The firm, owned and operated solely by the
Yamamoto family, specializes in importing cookware and water purifying equipment. Goods are imported from West Bend, USA,
branded “INKOR”. Goods are distributed
through agent dealers and group stores down to chain stores, supermarkets,
department stores, other.. Also sells
online. Operates cooking classes
online, too.
FINANCIAL INFORMATION
The sales volume for Feb/2007 fiscal term amounted to Yen 800 million,
a 2% down from Yen 813 million in the previous term. Competition is getting harder by selling similar products, even
at lower prices. Similar pans
frequently appear on TV. The net profit
remained similar at Yen 5 million.
For the current term ending Feb 2008 the net profit is
projected at Yen 5 million, on a 3% rise in turnover, to Yen 820 million. With weaker Yen the sales in Yen terms are
expected to increase.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 12.0 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Aug 2001
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Tetsuji Yamamoto (60)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales (including online sales)
water purifying systems, evaporators, cooking ware branded “ANKOR”, other
kitchen utensils (--100%).
Goods are imported from West Bend, USA.
Operates cooking classes online, too.
Clients: Agent dealers, direct-run & group stores, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfr] Imports from West Bend, USA.
Payment record: Regular
Location: Business area in Fukuoka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Fukuoka)
Bank of Fukuoka (Tenjincho)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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29/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual Sales |
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820 |
800 |
813 |
980 |
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Recur. Profit |
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Net Profit |
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5 |
5 |
5 |
5 |
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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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36 |
31 |
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 |
2.50 |
-1.60 |
-17.04 |
-10.91 |
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Current Ratio |
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.. |
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.. |
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N.Worth Ratio |
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.. |
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.. |
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N.Profit/Sales |
0.61 |
0.63 |
0.62 |
0.51 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 29/02/2008 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%)