MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
FUCHIGAMI FINES
CO LTD |
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Registered Office : |
6-16 Reisenmachi Hakataku |
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Country : |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
Nov 1989 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Rental of bridal garments |
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 43.8 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
FUCHIGAMI FINES CO
LTD
REGD NAME
KK Fuchigami Fines
MAIN OFFICE
6-16 Reisenmachi
Hakataku
Tel : 092-263-6070
Fax : 092-263-6076
URL : http://rikunabi1009.yahoo.co.jp
E-Mail
address: Not specified
ACTIVITIES
Rental
of bridal garments
SHOPS
OFFICERS
TETSUHIKO
FUCHIGAMI, PRES
Yasuhiro
Fuchigami, dir
Tetsuya
Tomonoo, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,420 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen
1,189 M
STARTED 1989 EMPLOYES 70
COMMENT
RENTAL OF BRIDAL GARMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 43.8 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Tetsuhiko Fuchigami in order to make most of his experience in the subject line of business. Started with kimono shop and rental of bridal garments but in Mar 2004 withdrew from kimono business which was transferred to other company. Now focuses on retail of bridal garments.
FINANCIAL INFORMATION
The sales volume for Feb/2007 fiscal term amounted to Yen 2,420 million, a 4% up from Yen 2,330 million in the previous term. The operations incurred deficit to register Yen 30 million net losses for the term. The transfer/liquidation costs of kimono business were written off as extraordinary losses.
For the current term ending Feb 2008 the net profit is projected at Yen 20 million, on a 3% rise in turnover, to Yen 2,500 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 43.8 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Nov 1989
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 8,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major shareholders (%): Tetsuhiko Fuchigami (85), Yasuhiro Fuchigami (15)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Rental of wedding suits/dresses, other (100%).
Clients:
Users
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Nijo Maruhachi, Alpha Blanca, Elman, other.
Payment
record: Regular
Location: Business area in
Bank References
Nishinippon
City Bank (H/O)
Shoko
Chukin Bank (
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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28/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual
Sales |
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2,500 |
2,420 |
2,330 |
2,100 |
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Recur.
Profit |
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Net
Profit |
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20 |
-30 |
26 |
-72 |
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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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1,189 |
1,219 |
1,245 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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 |
3.31 |
3.86 |
10.95 |
-54.84 |
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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 |
0.80 |
-1.24 |
1.12 |
-3.43 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 28/02/2008 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%)