MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
WING CORPORATION CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
Jan 1991 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of kitchen
utensils |
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 21.0 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
WING CORPORATION CO LTD
REGD NAME
KK Wing
Corporation
MAIN OFFICE
Tel : 06-6947-1822
Fax : 06-6947-1823
URL : N/A
ACTIVITIES
Import,
wholesale of kitchen utensils
BRANCHES
Shanghai
(
FACTORY(IES)
(subcontracted)
OFFICERS
SHIGEJIRO
TAMANO, PRES
Kimiyo
Tamano, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,100 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
95 M
STARTED 1991 EMPLOYES 15
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN KITCHEN UTENSILS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 21.0 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shigejiro Tamano in
order to make most of his experience in the subject line of business. This is a small sized trading firm
specializing in import and wholesale of kitchen utensils and equipment. Goods are imported from
FINANCIAL
INFORMATION
Financials are only partially disclosed.
The sales volume for Jan/2007 fiscal term amounted to Yen 1,100
million, a 3% down from Yen 1,130 million in the previous term. Price competition is getting harder with
lower priced imports coming in from
For the current term ending Jan 2008 the net profit is projected at Yen 16 million, on a 9% rise in turnover, to Yen 1,200 million. Demand is expected to rise. Weaker Yen will help uplift sales amount in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 21.0 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jan 1991
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%): Shigejiro Tamano (70) & families (--30)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales kitchen utensils & equipment, accessories (--100%).
Goods are imported from
Clients: [Mfrs, wholesalers] Zojirushi Corp (top-ranked thermos
bottle mfr), Ito-Yokado (supermarket chain operator), other.
No. of
accounts: 200
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Imports from
Domestically,
supplied from Canon Inc, other.
Payment
record: Regular
Location: Business area in
Bank References
Resona
Bank (
Osaka
Shinkin Bank (Minamimorimachi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual
Sales |
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1,200 |
1,100 |
1,130 |
1,100 |
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Recur.
Profit |
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Net
Profit |
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16 |
15 |
16 |
15 |
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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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95 |
80 |
64 |
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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 |
9.09 |
-2.65 |
2.73 |
10.00 |
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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 |
1.33 |
1.36 |
1.42 |
1.36 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/01/2008 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%)