MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAYFAIR CO LTD |
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Registered Office : |
6-17 Hatobamachi Chuoku Kobe 650-0042 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
September 1991 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, online retail of radios, ovens,
clothing, furniture, beddings, other household goods |
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 10.8 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
MAYFAIR CO LTD
REGD NAME: KK Mayfair
MAIN OFFICE: 6-17 Hatobamachi
Chuoku Kobe 650-0042 JAPAN
Tel:
078-366-6311 Fax: 078-366-6312
*.. The given
address is its warehouse at: Nichien No. 3 Warehouse, 6-3 Minatojima Chuoku
Kobe 650-0045, as given.
URL: http://www.mayfair-17.co.jp/
E-Mail address: info@mayfair-17.co.jp
ACTIVITIES
Import, wholesale, online retail of radios, ovens, clothing,
furniture, beddings, other household goods
BRANCHES
Kanazawa (Ishikawa), Sendai (Overseas trading division)
OVERSEAS
China (3)
FACTORY(IES)
At the caption address, Minatojima as given (--warehouses)
OFFICER(S)
SEIJI MIYAUCHI, PRES
Ryota Hara, dir
Goro Miyauchi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 603 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 54 M
STARTED 1991 EMPLOYES 5
COMMENT
TRADING
HOUSE SPECIALIZING IN HOUSEHOLD GOODS & EQUIPMENT. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$75,000 / O/A 60 DAYS
MAX CREDIT LIMIT
YEN 10.8 MILLION, 30 DAYS NORMAL
TERMS
HIGHLIGHTS
The
subject company was established by Seiji Miyauchi in order to make most of his previous
experience in the subject line of business in foreign trading. This is a trading house specializing in
household goods, such as clothing, small furniture items, towels, portable
radios, toasters, cosmetics, toiletries, beddings, etc. Also handles horticultural & gardening
tools & supplies. Goods are
imported widely from China, USA, UK, Netherlands, France, Italy, Belgium,
Korea, other. Has two purchasing offices
in China. Imports from China are
rising, while those from Europe are seen decreasing due to the extremely weaker
Yen against Euros, making import costs a lot higher and unable to pass onto
consumers for the overage. Clients are
chain stores, supermarkets, specialty stores, other. Actively retails them online (Mayfair Online), too.
FINANCIAL INFORMATION
The
firm stopped releasing full financials with the last as of the 31/03/2002
fiscal term. Only partial figures are
being disclosed.
The
sales volume for Mar/2007 fiscal term amounted to Yen 603 million, a 17% up
from Yen 515 million in the previous term.
Imports from China rose, particularly at competitively lower prices in
the downstream markets. The net profit
was posted at Yen 2 million, down from Yen 4 million a year ago. This is referred to the rising costs of
operations.
For
the term just ended Mar/2008 the net profit was projected at Yen 2 million, on
a 3% rise in turnover, to Yen 620 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 10.8 million, on 30 days normal terms. The proposed amount for 60 days terms is
considered within the firm’s financial capacities.
REGISTRATION
Date Registered: Sept
1991
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600
shares
Sum: Yen
30 million
Major shareholders (%)
Seiji Miyauchi (83), Ryota Hara (3), other
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports, wholesales and retails (online): clothing, beddings, furniture,
towels, bathrobes, portable radios,
toasters, kitchen wares, cosmetics, hair-care goods, toiletries, beddings, stationery, gardening tools
& supplies, DIY goods, other household items (--100%)
Import Agent for:
Heaathcote & Ivory Toiletries Ltd; Roberts Radio Ltd, Rowlett Rotland Ltd,
Vitantonia, Henry Maxell, John Smedley, other.
Clients
[Specialty
stores, wholesalers, chain stores, consumers] Edion Corp, Nishikawa Living, Romance Kosugi, Sony Plaza, Sumisho
Drugstore, Denkodo, Shogakukan
Production, Isetan, Yamagiwa
Corp, National Trading Inc, Kotonoha, Encho Co, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Roweltt Rutland,
Connolly, Robert Radio (--UK), Pillowtex, Westpoint
Home Inc (--USA), other from China, UK, USA, Netherlands, Italy, Belgium, France, Korea, etc.
Also supplied from Nomura
Trading and some other domestic suppliers.
Payment record
Regular
Location
Business
area in Kobe. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kobe-Chuo)
Resona Bank (Kobe)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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620 |
603 |
515 |
510 |
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Recur.
Profit |
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Net
Profit |
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2 |
2 |
4 |
3 |
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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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54 |
52 |
48 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
2.82 |
17.09 |
0.98 |
16.97 |
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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 |
0.32 |
0.33 |
0.78 |
0.59 |
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Notes: Financials are only partially disclosed from the
31/03/2003 fiscal term.
Forecast (or estimated) figures for the 31/03/2008 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%)