MIRA INFORM REPORT

 

 

Report Date :

01.09.2007

 

IDENTIFICATION DETAILS

 

Name :

MOCHIZUKI HIDEYUKI SHOKAI CO LTD

 

 

Registered Office :

2-5-6 Chuo Kofu Yamanashi-Pref 400-0032

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2007

 

 

Date of Incorporation :

Jul 1982

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of jewelry

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

name

 

MOCHIZUKI HIDEYUKI SHOKAI CO LTD

 

 

REGD NAME

 

KK Mochizuki Hideyuki Shokai

 

 

MAIN OFFICE

 

2-5-6 Chuo Kofu Yamanashi-Pref 400-0032 JAPAN

Tel        : 055-235-1435

Fax       : 055-235-0405

URL      : N/A

E-Mail address: (disclosed to direct clients only)

 

 

ACTIVITIES

 

Import, wholesale of jewelry

 

 

BRANCHES

 

Nil

 

 

FACTORY(IES)

 

(subcontracted)

 

 

OFFICERS

 

OSAMU MOCHIZUKI, PRES

Sadae Mochizuki, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 703 M

PAYMENTS      REGULAR                     CAPITAL           Yen 30 M

TREND             SLOW                          WORTH            Yen 297 M

STARTED         1982                             EMPLOYES      13

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY.  FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$150,000 / O/A 90 DAYS.

                       

 

HIGHLIGHTS

 

The subject company was established originally in 1951 by father of Osamu Mochizuki for marketing jewelry products, on his account.  The founder’s widow, Sadae Mochizuki, ch until the last term, now serves as part-time director at the company.  This is a trading company for import and wholesale of fingerings centrally, pendants, broaches and other jewelry products.  Products are branded as “MZ & C”.  The firm uses the name of “MZ & C Mochizuki Hideyuki Shokai Co Ltd” for jewelry trade shows and other events.  Goods are imported from Thailand, Hong Kong, etc.  Also imports precious stones and processes them into jewelry products on consignment.  Kofu City is known as the center of jewelry industry and the firm is well situated in the local area.  Goods are shipped to Tokyo & Osaka areas. 

           

 

FINANCIAL INFORMATION

 

The sales volume for Jun/2006 fiscal term amounted to Yen 703 million, a 2% down from Yen 703 million in the previous term.  This is referred to sluggish consumer demand for luxurious goods, says the firm.  The net profit remained at a minimum amount post-taxes.

 

For the term ended Jun 2007 the net profit was projected at Yen 1 million, on a 2% rise in turnover, to Yen 720 million.  Weaker Yen against foreign currencies should have contributed to uplift sales in Yen terms, in addition to sales efforts into greater-Osaka area.

 

The financial situation is considered maintained FAIR and should be good for ORDINARY business engagements.  The proposed amount for 90 days terms is considered within the firm’s financial capabilities.

 

 

REGISTRATION

 

Date Registered:            Jul 1982

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    240,000 shares

Issued:                          60,000 shares

Sum:                            Yen 30 million

Major shareholders (%): Osamu Mochizuki (50), Naoko Imai (16), Junko Shionoya (16), Employees’ S/Holding

                                     Assn (16), Hiromi Osada (2)

No. of shareholders:        5

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports and wholesales fingerings (40%), pendants, broaches, necklaces, bracelets and other jewelry products, including precious metal stones (--60%). 

 

Fingerings and pendants are bedded with precious metals, precious stones and pearls. 

 

Goods are imported from Hong Kong, Thailand, etc.

 

Clients: Jewelry processors, jewelry stores, chain stores, other

 

No. of accounts: 500 – 600

 

Domestic areas of activities: Centered in greater-Tokyo & Osaka

 

Suppliers: [Mfrs, wholesalers] Yamanashi-Pref Jewelry Assoc, Prody, other. Also imports from Hong Kong, Thailand, etc.

 

Payment record: Regular

 

Location: Business area in Kofu City, Yamanashi-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References

 

Mizuho Bank (Kofu)

Yamanashi Chuo Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

30/06/2007

30/06/2006

30/06/2005

30/06/2004

Annual Sales

　

720

703

715

815

Recur. Profit

　

　

1

1

2

Net Profit

　

1

0

0

1

Total Assets

　

　

885

950

984

Current Assets

　

　

550

593

581

Current Liabs

　

　

326

376

344

Net Worth

　

　

297

300

303

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

10.00

10.00

10.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

2.42

-1.68

-12.27

-13.39

       Current Ratio

 

..

168.71

157.71

168.90

       N.Worth Ratio

..

33.56

31.58

30.79

       R.Profit/Sales

 

..

0.14

0.14

0.25

       N.Profit/Sales

0.14

0.00

0.00

0.12

       Return On Equity

..

0.00

0.00

0.33

 

Notes: Forecast (or estimated) figures for 30/06/2007 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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions