MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AMANA INC |
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Registered Office : |
2-2-43 Higashishinagawa Shinagawaku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Apr 1979 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Photographer used in Ads and
pamphlets |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 292.1 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
NAME
AMANA INC
REGD NAME
KK Amana
MAIN OFFICE
2-2-43
Higashishinagawa Shinagawaku
Tel : 03-3740-
Fax : ^
URL : http://amana.jp/
E-Mail
address: acc@amanaimages.com
ACTIVITIES
Photographer
used in Ads and pamphlets
BRANCH(ES)
Nil
FACTORY(IES)
At the
caption address (Photo processing)
CHIEF EXEC
HIRONOBU
SHINDO, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 13,046 M
PAYMENTS REGULAR CAPITAL Yen 1,097 M
TREND STEADY WORTH Yen
5,603 M
STARTED 1979 EMPLOYES 681
COMMENT
COMMERCIAL PHOTOGRAPHER. FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 292.1 MILLION, 30 DAYS NORMAL TERMS.
Forecast (or estimated)
figures for 31/03/2008 fiscal term
HIGHLIGHTS
The subject company was established by Hironobu Shindo in order
t make most of his experience in the subject line of business. This is a commercial photographer
specializing in consigned production. of photographs used in ads and
pamphlets. Clients include ads agencies
and pu8blishing firms. Acts as
photographer sales agency for commercial photographers, too.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 13,046 million, a 39% up from Yen 9,450 million in the previous term. The recurring profit was posted at Yen 260 million and the net profit at Yen 27 million, respectively, compared with Yen 563 million recurring profit and Yen 2,955 million net profit, respectively, a year ago. The last term booked extraordinary profits coming from the disposal of subsidiaries’ shares (amounting to Yen 4,098 million).
For the current term ending Mar 2008 the recurring profit is projected at Yen 550 million and the net profit at Yen 150 million, on a 27% rise in turnover, to Yen 16,600 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 292.1 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Apr 1979
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 21,620,000 shares
Issued: 5,408,000 shares
Sum: Yen 1,097 million
Major shareholders (%):
Trust (2.9), Nomura Trust Inc (2.9), Horiuchi Color (2.2), MUFG (1.8), Softbank Internet
Tech Bank (1.5), Publishing D of Donaldson (1.4); foreign owners (11.3).
No. of
shareholders: 2,319
Listed
on the S/Exchange (s) of: JASDAQ (MOTHERS)
Managements: Hironobu Shindo, pres; Kinji Sekino, dir; Hedeaki Kodama, dir; Yukihiro Iwanaga, dir;
Susumu Takahashi, dir; Masatoshi Fujii, dir; Shigeo Satoh, dir
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Commercial photographer for Ads & corporate pamphlets (--100%).
Clients: [Ads agencies, business firms] Hakuhodo, Seiko Epson,
Kosei, J Walter Thompson
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] MVP, Horiuchi Color, Sakata Inks, other.
Payment
record: Regular
Location: Business area in
Bank References
SMBC
(Shimbashi)
Resona
Bank (Shinagawa)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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13,046 |
9,450 |
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Cost of Sales |
7,333 |
5,045 |
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GROSS PROFIT |
5,713 |
4,405 |
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Selling & Adm Costs |
5,406 |
3,808 |
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OPERATING PROFIT |
306 |
596 |
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Non-Operating P/L |
-46 |
-33 |
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RECURRING PROFIT |
260 |
563 |
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NET PROFIT |
27 |
2,955 |
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BALANCE SHEET |
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Cash |
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1,628 |
4,132 |
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Receivables |
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4,001 |
3,062 |
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Inventory |
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145 |
95 |
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Securities, Marketable |
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Other Current Assets |
292 |
301 |
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TOTAL CURRENT ASSETS |
6,066 |
7,590 |
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Property & Equipment |
1,739 |
1,506 |
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Intangibles |
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3,091 |
1,312 |
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Investments, Other Fixed Assets |
827 |
589 |
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TOTAL ASSETS |
11,723 |
10,997 |
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Payables |
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1,240 |
1,037 |
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Short-Term Bank Loans |
410 |
192 |
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Other Current Liabs |
1,896 |
3,195 |
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TOTAL CURRENT LIABS |
3,546 |
4,424 |
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Debentures |
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120 |
240 |
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Long-Term Bank Loans |
2,422 |
625 |
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Reserve for Retirement Allw |
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53 |
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Other Debts |
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32 |
13 |
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TOTAL LIABILITIES |
6,120 |
5,355 |
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MINORITY INTERESTS |
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100 |
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Common
stock |
1,097 |
1,096 |
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Additional
paid-in capital |
1,334 |
1,334 |
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Retained
earnings |
3,029 |
3,131 |
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Evaluation
p/l on investments/securities |
(1) |
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Others |
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164 |
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Treasury
stock, at cost |
(20) |
(20) |
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TOTAL S/HOLDERS` EQUITY |
5,603 |
5,542 |
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TOTAL EQUITIES |
11,723 |
10,997 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash
Flows from Operating Activities |
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-1,675 |
264 |
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Cash Flows
from Investment Activities |
-714 |
1,176 |
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Cash
Flows from Financing Activities |
1,885 |
-762 |
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Cash,
Bank Deposits at the Term End |
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1,628 |
2,628 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net
Worth (S/Holders' Equity) |
5,603 |
5,542 |
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Current
Ratio (%) |
171.07 |
171.56 |
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Net
Worth Ratio (%) |
47.79 |
50.40 |
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Recurring
Profit Ratio (%) |
1.99 |
5.96 |
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Net
Profit Ratio (%) |
0.21 |
31.27 |
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Return
On Equity (%) |
0.48 |
53.32 |
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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%)