MIRA
INFORM REPORT
|
Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHIMA TRADING CO LTD |
|
|
|
|
Registered Office : |
199-75 Nanae Tomisato |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
28.02.2007 |
|
|
|
|
Date of Incorporation : |
Mar 1989 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of cut
flowers, foliage plants |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 34.2 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
name
SHIMA TRADING CO LTD
REGD NAME
KK Shima Trading
MAIN OFFICE
199-75 Nanae
Tomisato Chiba-Pref 286-0221
Tel : 0476-93-9318
Fax : 0476-93-9936
URL : http://www.simatrd.co.jp
E-Mail
address: info@simatrd.co.jp
ACTIVITIES
Import,
wholesale of cut flowers, foliage plants
BRANCHES
Nil
FACTORY(IES)
At the
caption address (sorting, packaging, etc workshop)
OFFICERS
MASAYUKI
SHIMA, PRES
Kumiko
Shima, dir
Koichi
Hiyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,280 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
48 M
STARTED 1989 EMPLOYES 8
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN CUT FLOWERS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 34.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Masayuki Shima
originally in 1980, on his account, for importing cut flowers and was
incorporated in 1989. A family-based
trading firm specializing in importing cut flowers, foliage plants, other. Goods are imported from Europe, Oceania,
FINANCIAL
INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2007 fiscal term amounted to Yen 2,280 million, a 4% up from Yen 2,200 million in the previous term. Weaker Yen pushed up the sales in Yen terms. The net profit was posted at Yen 6 million, compared with Yen 5 million a year ago.
For the current term ending Feb 2008 the net profit is projected at Yen 6 million, on a 3% rise in turnover, to Yen 2,350 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 34.2 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Mar 1989
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Masayuki
Shima (86), Kumiko Shima (10), Koichi Hiyama (4)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales cut flowers: orchids, roses, carnations, chrysanthemums, lilies, others; lemon leaves, other foliage plants (--100%).
Goods are imported from Netherlands, Italy, Israel, Turkey, Columbia, Ecuador, New Zealand, Australia, Costa Rika, USA, Singapore, Korea, Sri Lanka, South Africa, Zimbabwe, other.
Clients: [Flower markets, florists] Ota Floriculture Auction Co, Sendai Seika, Sapporo Kaki Engei, Osaka Kaki, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Florists, growers] Mandainia Orchid Groups (Singapore), OZ Export (Dutch Flower Group, Holland), Flor Coop (Italy), Australian Flower Co (Australia), other from Korea (3), Australia (3), USA (3), Netherlands, Italy, Israel, Turkey, Sri Lanka, Costa Rica, Columbia, Ecuador, South Africa (2), New Zealand, Zimbabwe, other.
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (Narita)
Bank
of
Relations:
Satisfactory
FINANCES
(In
Million Yen)
|
Terms Ending: |
|
28/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
|
|
Annual
Sales |
|
2,350 |
2,280 |
2,200 |
2,050 |
|
|
Recur.
Profit |
|
|
|
|
|
|
|
Net
Profit |
|
6 |
6 |
5 |
7 |
|
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
|
Net
Worth |
|
|
48 |
42 |
37 |
|
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
3.07 |
3.64 |
7.32 |
-0.92 |
||
|
Current Ratio |
|
|
.. |
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.26 |
0.26 |
0.23 |
0.34 |
||
Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 29/02/2008 fiscal term.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)