MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CB JAPAN CO LTD |
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Registered Office : |
3-1-10 Shimane Adachiku |
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Country : |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
Sept 2000 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing (subcontracted),
import, wholesale of furniture |
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 21.6 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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name
CB JAPAN CO LTD
REGD NAME
KK CB Japan
MAIN OFFICE
3-1-10 Shimane
Adachiku
Tel : 03-5831-6175
Fax : 03-5831-6176
URL : http://www.cb-j.coim
E-Mail
address: K-shiraishi@cb-j.com
ACTIVITIES
Mfg
(subcontracted), import, wholesale of furniture
BRANCHES
OVERSEAS
FACTORY(IES)
(subcontracted)
OFFICERS
HIROSHI
AOKI, PRES
Tomotaka
Iwabuchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 850 M
PAYMENTS REGULAR CAPITAL Yen 32 M
TREND SLOW WORTH Yen
37 M
STARTED 2000 EMPLOYES 12
COMMENT
MFR SPECIALIZING IN WOODEN FURNITURE. FINANCIAL SITUATION CONSIDERED FAIR BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$700,000 / T/T TERMS
MAX
CREDIT LIMIT: YEN 21.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Hiroshi Aoki in order to
make most of his experience in the subject line of business. This is a trading firm with mfg division for
import and wholesale of furniture and interior items. Has mfg and sales bases in
FINANCIAL
INFORMATION
The sales volume for Aug/2006 fiscal term amounted to Yen 850
million, a 7% up from Yen 792 million in the previous term. Quality goods started to import from
For the term ended Aug 2007 the net profit was projected and believed posted at Yen 5 million, on a 6% rise in turnover, to Yen 900 million. Imports increased. Weaker Yen should have helped to uplift sales amount in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. The proposed amount, however, is considered TOO HIGH for one lot payment from the recent financial status. It would be feasible if broken down into several payments. Max credit limit is estimated at Yen 21.6 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Sept 2000
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 2,000 shares
Issued: 640 shares
Sum: Yen 32 million
Major shareholders (%): Hiroshi
Aoki (47.6), Tomotaka Iwabuchi (12.5)
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures, imports and wholesales furniture, such as folding tables/chairs, folding steps, kids racks, kids toy card, hanger racks, mats, joint carpet edges, others including wooden & steel furniture and household items (--100%).
Goods
are manufactured on consignment at domestic and China/Taiwan factories.
Clients: [Mfrs, wholesalers] Ito-Yokado, Olympic, Aron Kasei Co, Shimamura, Miki House, Comson, Heiwado, LBC, other.
No. of
accounts: 600
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aron Kasei Co, Karita Co, Watanabe Kogei, other.
Imports from Hipsheng Plastic, Plenty & Grace, Ching Wed,
other from
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Nippori)
Resona
Bank (Nishiarai)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual
Sales |
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900 |
850 |
792 |
748 |
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Recur.
Profit |
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8 |
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Net
Profit |
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5 |
4 |
1 |
2 |
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Total
Assets |
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293 |
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Current
Assets |
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209 |
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Current
Liabs |
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88 |
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Net
Worth |
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37 |
33 |
32 |
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Capital,
Paid-Up |
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32 |
32 |
32 |
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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 |
5.88 |
7.32 |
5.88 |
-9.11 |
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Current Ratio |
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237.50 |
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N.Worth Ratio |
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12.63 |
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.. |
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R.Profit/Sales |
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0.94 |
.. |
.. |
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N.Profit/Sales |
0.56 |
0.47 |
0.13 |
0.27 |
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Return On Equity |
.. |
10.81 |
3.03 |
6.25 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/08/2007 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%)