MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
GIFU BATTERY SALES CO LTD |
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Registered Office : |
1-20 Kinoshitacho Gifu 500-8154 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
November 1973 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Industrial and Car Batteries |
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 5.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
GIFU BATTERY SALES CO LTD
REGD NAME: KK Gifu Battery Hambai
MAIN OFFICE: 1-20 Kinoshitacho
Gifu 500-8154 JAPAN
Tel:
058-247-1860 Fax: 058-248-0734
URL: http://www.tb-battery.com/
E-Mail address: info@garden-goods.com
ACTIVITIES
Import, wholesale of industrial & car batteries
BRANCHES
Nil
FACTORY(IES)
At the caption address (processing/repairing yard)
OFFICER(S)
AKIHIRO HAYASHI, PRES
Kiyoshi Shindo, s/mgn dir
Yoshihiro Togo, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 639 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 74 M
STARTED 1973 EMPLOYES 12
COMMENT
TRADING
FIRM SPECIALIZING IN INDUSTRIAL & CAR BATTERIES.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 5.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was
established originally in 1968 by Akihiro Hayashi for wholesaling batteries, on
his account, and was incorporated in 1973.
This is a trading house for importing and wholesaling batteries for
industrial and car use. Items handled
include emergency batteries, shield sealing type batteries, car coolers,
etc. Imports of batteries started in 1986,
when the firm concluded import agreement of OEM batteries produced by Global
Yuasa Co, a Japan/Korea JV. In Apr
1998, started imports of forklift batteries from UK & USA. Batteries for motorcycles are mostly OEM
manufactured. Goods are imported from
Korea, UK, USA, Thailand, etc, directly and/or through trading houses. Goods are also marketed online through
Garden-goods.com. Co Ltd, Nagoya, which also maintains the subject’s Website,
and handles sales promotion PR, etc.
FINANCIAL INFORMATION
The sales
volume for Jul/2007 fiscal term amounted to Yen 639 million, a 6% up from Yen
601 million in the previous term.
Demand increased particularly from car & motorcycle makers. Batteries for emergency storage cells also
increased. The net profit was posted at
Yen 3 million, down from Yen 6 million a year ago. This is referred to the rising costs of operations and
products. Financials are only partially
disclosed for this term.
For
the current term ending Jul 2008 the net profit is projected at Yen 10 million,
on a 10% rise in turnover, to Yen 700 million.
Sales continue increasing for car makers.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 5.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov
1973
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%)
Akihiro Hayashi (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales batteries for industrial & vehicle use: forklift,
golf cart, jet ski, electromotive
conveyers, car floor cleaning machines, others (--60%);
Batteries
for import & domestic-made automobiles, specialty-purpose vehicles,
motorcycles, others (--40%).
Batteries for motorcycles are
also manufactured on OEM basis for other makers.
Goods
are imported from UK, USA, Korea, Thailand, etc, directly or thru trading
houses.
Clients
[Car parts dealers, rental stores, wholesalers] Japan Automotive
Service Industry
Commerce Assn, Gifu Nisseki,
Nikken Corp, Wakita & Co, S Line Gifu, Gifu Subaru, other.
No. of accounts
700
Domestic areas of activities
Centered in greater-Nagoya
Suppliers
[Battery
makers, wholesalers] Nippon Battery, Chubu GS Hambai, Nippon Parts Kiki, US Battery, Hyundai Battery, Classic UK,
Sanko Inc, Sumitomo Corp, other.
Payment record
Regular
Location
Business
area in Gifu. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
Jyuroku Bank (H/O)
Ogaki Kyoritsu Bank (Umebayashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/07/2007 |
31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual
Sales |
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639 |
601 |
570 |
566 |
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Recur.
Profit |
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9 |
4 |
1 |
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Net
Profit |
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3 |
6 |
4 |
5 |
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Total
Assets |
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493 |
510 |
507 |
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Current
Assets |
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351 |
357 |
356 |
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Current
Liabs |
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190 |
189 |
198 |
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Net
Worth |
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71 |
64 |
60 |
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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 |
6.32 |
5.44 |
0.71 |
1.62 |
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Current Ratio |
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.. |
184.74 |
188.89 |
179.80 |
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N.Worth Ratio |
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14.40 |
12.55 |
11.83 |
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R.Profit/Sales |
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.. |
1.50 |
0.70 |
0.18 |
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N.Profit/Sales |
0.47 |
1.00 |
0.70 |
0.88 |
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Return On Equity |
.. |
8.45 |
6.25 |
8.33 |
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Notes:
Financials for the 31/07/2007 fiscal term are only partially disclosed.
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%)