MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KANJITSU DENKI CO LTD |
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Registered Office : |
MBR Bldg 7F, 67 Kanda-Sakumachogashi Chiyodaku |
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Country : |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
Feb 1951 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of AV
apparatus & accessories |
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 56.1 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name
KANJITSU DENKI CO LTD
REGD NAME
Kanjitsu Denki KK
MAIN OFFICE
MBR Bldg 7F, 67 Kanda-Sakumachogashi
Chiyodaku Tokyo 101-0026
Tel : 03-5821-1324
Fax : 03-5821-1325
URL : http://www.kanjitsu.com
E-Mail
address: info@kanjitsu.com
ACTIVITIES
Import,
wholesale of AV apparatus & accessories
BRANCHES
OFFICERS
SHIN’ICHI
YAMADA, PRES
Tetsuo
Kukaku, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,080 M
PAYMENTS REGULAR CAPITAL Yen 12 M
TREND STEADY WORTH Yen
249 M
STARTED 1951 EMPLOYES 24
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING AV APPARATUS &
ACCESSORIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 56.1 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Yoshio Yamada in order
to make most of his experience in the subject line of business. Shin’ichi is the founder’s son. Specializes in importing and wholesaling AV
apparatus & accessories, such as amplifiers, room tuning, speakers, cables,
other AV accessories, mostly for AV maniacs & enthusiasts. Goods are imported from
FINANCIAL
INFORMATION
Financials are only partially disclosed.
The sales volume for May/2007 fiscal term amounted to Yen 3,080 million, a 23% rise from Yen 2,500 million in the previous term. Reportedly, large lots of orders received and delivered to specialty AV chain stores. The net profit was posted at Yen 44 million, up from Yen 35 million a year ago.
For the current term ending May 2008 the net profit is projected at Yen 46 million, on a 4% rise in turnover, to Yen 3,200 million. Demand from AV maniacs continue rising. Weaker Yen will also help raise sales amount in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 56.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1951
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 960,000 shares
Issued: 240,000 shares
Sum: Yen 12 million
Major shareholders (%): Shin’ichi Yamada (47.5), Kazuko Yamada (16.2), Emi Yamada (8.3)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales AV apparatus & accessories (--100%).
(Handling Items): DJ cartridges, vacuum tubes, speaker cables, power taps, earphones, audio insulators, cable products, DJ cartridges, Hifi cartridges, speakers, amplifiers, room tuning, other.
Goods
are imported from
(Import)
about 80%]
Clients: [Specialty chain stores, supermarkets, department stores] Bic Camera, Kimura Musen, Mitsukoshi, Takashimaya, Laox, Sato Musen Corp, Best Denki, Yodobashi Camera, Joshin Denki, Ishimaru Denki, Deodeo Corp, other.
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Belden Inc, Habbell, Western Electric, Etymotic Research Inc, PS Audio, Super Spikes, Presence Audio, Shure Presentz, other.
Payment
record: Regular
Location: Business area in
Bank References
Resona
Bank (Muromachi)
Mizuho
Bank (Kanda-Ekimae)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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3,200 |
3,080 |
2,500 |
2,528 |
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Recur.
Profit |
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Net
Profit |
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46 |
44 |
35 |
14 |
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Total
Assets |
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N/A |
N/A |
1,070 |
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Net
Worth |
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249 |
209 |
185 |
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Capital,
Paid-Up |
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12 |
12 |
12 |
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Div.P.Share(¥) |
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15.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.90 |
23.20 |
-1.11 |
7.16 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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17.29 |
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N.Profit/Sales |
1.44 |
1.43 |
1.40 |
0.55 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/05/2008 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%)