MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
TM FORTY CO LTD |
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Registered Office : |
Shinsaibashi Nashinoki Bldg 802, 2-11-26 Minamisemba Chuoku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Apr 1999 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, wholesale of jewelry,
watches |
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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
TM FORTY CO LTD
REGD NAME
YK TM Forty
MAIN OFFICE
Shinsaibashi Nashinoki Bldg 802, 2-11-26
Minamisemba Chuoku
Tel : 06-4963-7333
Fax : 06-4963-7334
URL : N/A
ACTIVITIES
Import,
wholesale of jewelry, watches
BRANCHES
Nil
OFFICERS
YOSHIHITO
TAKAHASHI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,450 M
PAYMENTS REGULAR CAPITAL Yen 8 M
TREND UP WORTH Yen 59 M
STARTED 1999 EMPLOYES 8
COMMENT
TRADING HOUSE SPECIALIZING IN JEWELRY. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR CREDIT ENGAGEMENTS: US$150,000 / O/A 90 DAYS.
HIGHLIGHTS
The subject company was established by Yoshihito Takahashi
in order to make most of his experience in the subject line of business. This is a trading house specializing in
importing and wholesaling diamonds, precious metal products, watches and other
jewelry. Goods are imported from
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 1,450 million, a 4% up from Yen 1,400 million in the previous term. Business is seen on the upswing. Material price hikes are said passed on to the clients. The net profit was posted at a similar amount of Yen 13 million.
For the current term ending Mar 2008 the net profit is projected at Yen 14 million, on a 3% rise in turnover, to Yen 1,500 million. Business continues growing. Import sources are said expanded.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. The proposed amount for 90 days terms is considered well within the firm’s recent financial capabilities.
REGISTRATION
Date
Registered: Apr 1999
Legal
Status: Private Limited
Company (Yugen Kaisha)
Regd
Capital: Yen 8 million
Major
shareholders (%): Yoshihito Takahashi (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales diamonds, jewelry, watches, others (--100%).
Goods are imported from
Clients: [Jewelry stores, jewelry processors] Kuwayama Corp,
Kuwari Hoshoku, Doshisha Co, Jewelry & Watch Sun Seven, Sakha Diamond,
other.
No. of
accounts: 100
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Nakagawa Corp, Sakha Diamond, other.
Also imports from
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Semba)
Kinki
Osaka Bank (Minami)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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1,500 |
1,450 |
1,400 |
1,100 |
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Recur.
Profit |
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Net
Profit |
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14 |
13 |
13 |
11 |
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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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59 |
50 |
41 |
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Capital,
Paid-Up |
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8 |
8 |
8 |
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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 |
3.45 |
3.57 |
27.27 |
1.85 |
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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 |
0.93 |
0.90 |
0.93 |
1.00 |
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Notes: Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2008 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%)