MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOISHI SHOTEN CO LTD |
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Registered Office : |
Sankocho Heim 708, 5-17-6 Shinjuku Shinjukuku Tokyo 160-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
December 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale, Retail of Jewelry |
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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Maximum Credit Limit : |
YEN 16.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
KOISHI SHOTEN CO LTD
REGD NAME: KK Koishi Shoten
MAIN OFFICE: Sankocho Heim 708,
5-17-6 Shinjuku Shinjukuku Tokyo 160-0022 JAPAN
Tel:
03-3205-2529 Fax: 03-3353-0108
*.. Registered at: 2-23-4 Nakamura-Minami Nerimaku Tokyo
ACTIVITIES
Import, wholesale, retail of jewelry
STORES
Shinjuku, Kichijoji, Matsudo, Urawa, Niigata, Sagamihara (--
in-shops in Isetan Department Store)
FACTORY(IES)
(Subcontracted)
OFFICER(S)
TETSUYA KOISHI, PRES
Kazuko Ohmori, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 899 M
PAYMENTS REGULAR CAPITAL Yen 28 M
TREND STEADY WORTH Yen 361 M
STARTED 1953 EMPLOYES 45
COMMENT
IMPORTER, WHOLESALER & RETAILER OF JEWELRY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$170,000 / O/A 90
DAYS.
MAX CREDIT LIMIT
YEN 16.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Sadatoshi Koishi in order to make most of his experience in the subject line of business. Tetsuya is the founder’s son. Operated solely by Koishi family. Specializes in importing and wholesaling diamonds, sapphire, ruby, other gem stones, and jewelry products. Also handles artificial gem stones. Stones are processed into jewelry products at subcontracted factories. Operates 6 in-shops in Isetan Department Stores and its branch stores. Goods are imported form Hong Kong, Thailand, etc. Clients are local jewelry stores. Has a strong foothold in the industry backed by over 50 years business operation at the caption address.
FINANCIAL INFORMATION
Financial are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen 899 million, an 8% down from Yen 974 million in the previous term. Affected by sluggish consumer demand for luxurious goods. The operations dipped into the red to post Yen 3 million net losses for the term. Some inventory revaluation losses are reported.
For the term ended Dec 2007 the operations were projected to return profitability to post Yen 3 million net profit, on a 6% rise in turnover, to Yen 950 million. Actual results have not been made available.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 16.5 million, on 30 days normal terms. The proposed amount for 90 days terms is considered well within the firm’s financial capabilities.
REGISTRATION
Date Registered: Dec 1953
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 224,000 shares
Issued: 56,600 shares
Sum: Yen 28.3 million
Major shareholders (%)
Sadatoshi Koishi, Tetsuya Koishi, and families (--100)
No. of shareholders: 14
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails diamonds, ruby, sapphire, emerald, other gem stones
(including artificial stones); necklaces, earrings, fingerings, pendants, other jewelry products (--100%).
Operates 6 in-shops at Isetan Department Stores, main stores and branches.
Goods are imported from Hong Kong, Thailand, etc.
Clients
[Jewelers, department stores] Isetan Department Stores (6 in-shops), Koishi Hoseki (Jewelry), Koishi (--subsidiaries), other
No. of accounts
300
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Oriental Diamond, Kashikey, Tatsumi Shoten, Imayo & Co, Shiono Shoten, Uno A Erre Japan, other.
Imports from Hong Kong, Thailand, etc.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Shinjukudori)
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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950 |
899 |
974 |
912 |
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Recur.
Profit |
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Net
Profit |
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3 |
-3 |
3 |
-9 |
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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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361 |
364 |
361 |
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Capital,
Paid-Up |
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28 |
28 |
28 |
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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 |
5.67 |
-7.70 |
6.80 |
-29.90 |
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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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.. |
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N.Profit/Sales |
0.32 |
-0.33 |
0.31 |
-0.99 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 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%)