MIRA
INFORM REPORT
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Report Date : |
11.10.2007 |
IDENTIFICATION DETAILS
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Name : |
KOWA TRADING CO LTD |
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Registered Office : |
Kowa Bldg, 1-4-5 Hatchobori Chuoku |
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Country : |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
May 1955 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of cereals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 71.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
KOWA TRADING CO LTD
REGD NAME
Kowa Shoji KK
MAIN OFFICE
Kowa Bldg, 1-4-5
Hatchobori Chuoku
Tel : 03-3553-3511
Fax : 03-43553-8069
URL : N/A
ACTIVITIES
Import,
wholesale of cereals
BRANCHES
FACTORY(IES)
OFFICERS
YASUTARO
TAKADA, PRES
Hisako
Takada, rep dir
Shigehiro
Takada, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,722 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen
2,931 M
STARTED 1955 EMPLOYES 10
COMMENT
IMPORTER AND WHOLESALER OF CEREALS AND OTHER FOODSTUFFS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 71.6 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Yasutaro Tanaka in order to make most of his experience in the subject line of business. This is a trading firm, owned and operated by Takada family, specializing in import and wholesale of peanuts, other cereals, frozen fish, spices and other foodstuffs.
Goods are imported from
FINANCIAL
INFORMATION
The sales volume for Sept/2006 fiscal term amounted to Yen 1,722 million, a 16% down from Yen 2,049 million in the previous term. Import quota for cereals was drastically reduced. The recurring profit was posted at Yen 26 million and the net profit at Yen 197 million, respectively, compared with Yen 110 million recurring profit and Yen 40 million net losses a year ago.
For the term just ended Sept 2007 the net profit is estimated posted at Yen 195 million, on a 1.6% rise in turnover, to Yen 1,750 million. Weaker Yen should have assisted to raise sales volumes in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 71.6 million, on 30 days normal terms.
REGISTRATION
Date
Registered: May 1955
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 256,000 shares
Issued: 64,000 shares
Sum: Yen 20 million
Major shareholders (%): Yasutaro
Takada (83.5), Shigehiro Takada (18.1)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales peanuts, soybeans, other cereals (---50%), frozen octopus, cuttlefish, spices, dried fruits, other foodstuffs (--40%), rent revenues (10%).
Goods
are imported from
Clients: [Mfrs, wholesalers] Itochu Corp, Kanematsu Corp, Toyota Tsusho Corp, Kyoritsu Food, Sanko Trading, Vox Trading, Gomei Shoii, Tokai Dempun, Prima Meat Packers, Yuasa Funa-shoku, other.
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from Canterbury Seed
(USA), other from
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Nihombashi-Higashi)
MUFG
(Yaesudori)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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1,750 |
1,722 |
2,049 |
1,779 |
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Recur.
Profit |
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26 |
110 |
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Net
Profit |
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195 |
197 |
-40 |
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Total
Assets |
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5,041 |
4,723 |
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Current
Assets |
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1,057 |
985 |
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Current
Liabs |
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1,016 |
781 |
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Net
Worth |
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2,931 |
2,814 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.63 |
-15.96 |
15.18 |
26.17 |
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Current Ratio |
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104.04 |
126.12 |
.. |
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N.Worth Ratio |
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58.14 |
59.58 |
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R.Profit/Sales |
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1.51 |
5.37 |
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N.Profit/Sales |
11.14 |
11.44 |
-1.95 |
0.00 |
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Return On Equity |
.. |
6.72 |
-1.42 |
.. |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 30/09/2007 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%)