MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
WULIN TRADING CO LTD |
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Registered Office : |
1601-4 Oyumicho Chuoku |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Apr 1988 |
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Com. Reg. No.: |
0400-01-009578 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import,
wholesale of beauty parlor equipment, beauty supplies, other |
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 6.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
WULIN TRADING CO LTD (WULIN is one word)
REGD NAME
Wulin Boeki KK
MAIN OFFICE
1601-4 Oyumicho
Chuoku
Tel : 043-305-1865
Fax : 043-305-1867
URL : http://www.wulin.co.jp/ (Japanese only)
E-Mail
address: wulin@wulin.co.jp
ACTIVITIES
Import,
wholesale of beauty parlor equipment, beauty supplies, other
BRANCHES
OFFICERS
SHOJIN GO, PRES (Japanese pronunciation; “GO” is “Wu” in Chinese) Kosuke Uchida, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
27 M
STARTED 1988 EMPLOYES 5-10
COMMENT
IMPORTER SPECIALIZING IN BEAUTY PARLOR EQUIPMENT & SUPPLIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$30,000 / D/P SIGHT
MAX
CREDIT LIMIT: YEN 6.7 MILLION, 30 DAYS, SECURED TERMS RECOMMENDED.
HIGHLIGHTS
The subject company was established by Shojin Go (or Wu in
Chinese), Chinese resident businessman, in order to make most of his experience
in the subject line of business. This is
a trading firm for import and wholesale of beauty parlor equipment &
facilities, beauty products & supplies from
FINANCIAL
INFORMATION
Financials are not disclosed and we have obtained the figures from outside sources. They have not been confirmed by the firm but are believed correct.
The sales volume for Dec/2006 fiscal term are believed amounted to Yen 450 million, a 13% up from Yen 400 million in the previous term. The firm says the client networks expanded. Weaker Yen helped to raise sales in Yen terms, too. The net profit was posted at Yen 3 million, up from Yen 2 million a year ago.
For the current term ending Dec 2007 the net profit is projected at Yen 3 million, on a 4% rise in turnover, to Yen 470 million. Weaker Yen will contribute to raise sales in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 6.7 million, 30 days, secured terms are recommended. The proposed amount for D/P sight terms is considered within the firm’s financial capabilities.
REGISTRATION
Date
Registered: Apr 1988
Registered
Number: 0400-01-009578
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major
shareholders (%): Shonin Wu & partners (--100)
No. of
shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales beauty parlor equipment & facilities, beauty products & supplies, including OEM & PB (Private Brand) mfg services of these equipment & goods, health foods & supplements, others (--100%).
(Handling items):
Integrated hairdressers’ systems/equipment: Facial machines attached with: steamers, vacuum, sprays, ionic, high frequency, blushing, ultra-sonic, cool & water equipment;
Steamer & peripherals;
Beauty Equipment: sauna dome, hot cabinet (for hot towels), infrared ray lamps, magnifying glasses;
Beauty Furniture: wooden beds, massage beds, sauna dome beds, facial massage beds & chairs, folding beds, stools, wagons, other;
Consumable Goods: towels (facial/bath), face sheets, face masks, gowns, pillows, slippers, shorts, trunks, paper brassiere, other.
Goods are imported from subcontracted factories in
Clients: [Beauty parlors, specialty traders] Slim Beauty House, Naganuma Kimono Co, Sainsiena Inc, other.
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers:
[Mfrs, wholesalers] Imports from
Payment
record: Regular
Location: Business area in
Bank References
MUFG (
Keiyo
Bank (
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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470 |
450 |
400 |
350 |
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Recur.
Profit |
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Net
Profit |
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3 |
3 |
2 |
1 |
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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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27 |
24 |
22 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
4.44 |
12.50 |
14.29 |
6.06 |
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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 |
0.64 |
0.67 |
0.50 |
0.29 |
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Notes:
Financials are not disclosed and above figures have been provided from
outside
sources. They are not attested by the
firm, but are believed correct.
Forecast
(or estimated) figures for 31/12/2007 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%)