MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTER BRIDGE CORPORATION |
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Registered Office : |
Nakameguro Tokyu Bldg 5F, 1-5-4 Higashiyama Meguroku Tokyo 153-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
October 1975 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale, Retails of Garments |
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 38.4 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
INTER BRIDGE CORPORATION
REGD NAME: Inter Bridge KK
MAIN OFFICE: Nakameguro Tokyu Bldg
5F, 1-5-4 Higashiyama Meguroku Tokyo 153-0043 JAPAN
Tel:
03-5794-0151 Fax: 03-5794-0160
URL: http://www.interbridge.co.jp/
E-Mail address: info@interbridge.co.jp
ACTIVITIES
Import, wholesale, retails of garments
STORES
Tokyo (5), Yokohama, Kobe, Kyoto, Nagoya, Okayama,
Hiroshima, Sapporo, Chitose, other (Tot 19)
FACTORY(IES)
(subcontracted)
OFFICER(S)
TETSUO KAWAMURA, PRES
Hiroyuki Sasaki, dir
Ken’ichi Yamada, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,070 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 384 M
STARTED 1975 EMPLOYES 45
COMMENT
IMPORTER, WHOLESALER & RETAILER OF GARMENTS..
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 38.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tetsuo Kawamura in order to make most of his experience in the subject line of business. This is a trading firm, with mfg division, for import, wholesale and retail of garments for men & women. Goods are imported from France & Italy mainly. Operates 19 retail stores nationwide. Handles “heliopole” brands centrally. In Mar 2008, the ownership changed to Yagi Tsusho Ltd (See REGFISTRATION) from Tomorrow Land Corp.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jul/2007 fiscal term amounted to Yen 2,070 million, a 30% hike from Yen 1,600 million in the previous term. This is referred to the price hike of garments from stronger Euro, which boosted sales in Yen terms. The net profit decreased to Yen 60 million from Yen 75 million a year ago. Higher costs of operations worsened the profits.
For the current term ending Jul 2008 the net profit is projected at Yen 65 million, on a 6% rise in turnover, to Yen 2,200 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 38.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1975
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major shareholders (%)
Yagi Tsusho Ltd*(90), Tetsuo Kawamura (10)
No. of shareholders: 2
* Trading firm specializing in textiles & apparel, Osaka, founded 1946, sales Yen 28,118 million, recurring profit Yen 1,621 million, net profit Yen 671 million, total assets Yen 31,189 million, employees 986, pres Yuzo Yagi
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales (50%) and retails (50%) garments, clothing accessories, others (--100%).
Operates 19 retail stores nationwide.
Clients
[Consumers, wholesalers] Beams, Tomorrow Land, United Arrows, Ships, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports from France & Italy centrally.
Domestically supplied from Yagi Tsusho Ltd, Itochu Corp, Itochu Mode Pal, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Ebisu)
Mizuho Bank (Roppongi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms
Ending: |
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31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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2,200 |
2,070 |
1,600 |
1,320 |
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Recur.
Profit |
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Net
Profit |
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65 |
60 |
75 |
70 |
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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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384 |
324 |
249 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
6.28 |
29.38 |
21.21 |
2.72 |
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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 |
2.95 |
2.90 |
4.69 |
5.30 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/07/2008 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%)