MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOSHO BUSSAN CO LTD |
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Registered Office : |
1-22-16 Niijuku Katsushikaku Tokyo 125-0051 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
July 1975 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Hotel Equipment and Supplies |
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 2.4 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
TOSHO BUSSAN CO LTD
REGD NAME: Tosho Bussan KK
MAIN OFFICE: 1-22-16 Niijuku
Katsushikaku Tokyo 125-0051 JAPAN
Tel:
03-3627-6001 Fax: 03-3608-3807
URL: N/A
E-Mail address: tosho-bussan@mg.point.ne.jp
ACTIVITIES
Import, wholesale of hotel equipment & supplies
BRANCHES
Nil
OFFICER(S)
KATSUNORI YAMAGUCHI, PRES
Fumiko Yamaguchi, dir
Midori Yamaguchi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 126 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 43 M
STARTED 1975 EMPLOYES 3
COMMENT
WHOLESALER
SPECIALIZING IN HOTEL SUPPLIES.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR CREDIT ENGAGEMENTS:
US$25,000 / O/A 60 DAYS.
MAX CREDIT LIMIT
YEN 2.4 MILLION, 30 DAYA NORMAL TERMS
HIGHLIGHTS
The subject company was established by Mitsuo Yamaguchi in order to make most of his experience in the subject line of business. Katsunori is the founder’s son. Owned and operated by the Yamaguchi family. Specializes in supplying hotel equipment and supplies, such as towels, bath robes, slippers, etc. Goods are partially imported from Korea, Thailand, China, etc. Clients are major hotel operators in Seibu Railway group, centrally in greater-Tokyo area. The firm has been suffering from steep decline in business due to the Seibu Railway group-wise scandals. The firm then carried out restructuring to tide over the situation, reducing the staff to 2 from the previous 4. The business is reportedly recovering but the business environment is still severe. The staff is now 3.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jun/2007 fiscal term amounted to Yen 128 million, a 2% down from Yen 128 million in the previous period. The business is slow to recover. The net profit remained unchanged at a minimum amount.
For the current term ending Jun 2008 the net profit is estimated to still remain at a minimum amount, on a 2% rise in turnover, to Yen 130 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 2.4 million, on 30 days normal terms. The proposed amount for 60 days terms is considered to be within the firm’s financial capacities. However, we recommend some caution be exercised at each transaction.
REGISTRATION
Date Registered: Jul 1975
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Mitsuo Yamaguchi (80)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales hotel equipment & supplies, such as towels, bath robes, bath towels, slippers, other (--100%).
(Import: 20-30%)
Clients
[Hotel operators] Prince Hotel, Seibu Railway group hotels, Hotel New Otani,
Nagoya Castle Hotel, Beniya Hotel, Chisan Hotel, other.
No. of accounts
500
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Tosho Kasei (subsidiary trader), Sanyo Amenity, Shiseido Beautic, Ipros, other.
Imports from China, Korea, Thailand, etc.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Takasago)
Johoku Shinkin Bank (Takasago)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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130 |
128 |
130 |
130 |
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Recur.
Profit |
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Net
Profit |
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1 |
0 |
0 |
0 |
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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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43 |
43 |
43 |
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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 |
1.56 |
-1.54 |
0.00 |
-2.26 |
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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 |
0.77 |
0.00 |
0.00 |
0.00 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/06/2008 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%)