MIRA
INFORM REPORT
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Report Date : |
24.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPER MAGIC INC |
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Registered Office : |
195 Ubayanagicho Takoyakushijidori Muromachi Nishi-Iru Nakagyoku Kyoto604-8213 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
March 1997 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Retail of garments, clothing accessories, jewelry |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 1.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SUPER MAGIC INC
REGD NAME: YK Super Magic
MAIN OFFICE: 195 Ubayanagicho
Takoyakushijidori Muromachi Nishi-Iru Nakagyoku Kyoto
604-8213
JAPAN
Tel:
075-241-6264 Fax: 075-241-6262
E-Mail address: Rakuten@dropin.co.jp
ACTIVITIES
Retail of garments, clothing accessories, jewelry
STORE
At the caption address
OFFICER(S)
SHIN’ICHI IKEDA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 105 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 10 M
STARTED 1997 EMPLOYES 3
COMMENT
RETAILER SPECIALIZING IN CLOTHING & CLOTHING
ACCESSORIES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1991 by Shin’ichi Ikeda for retailing clothing & clothing accessories, on his account. And was incorporated in 1997. Operates a retail store at the caption address handling designers’ brand clothing, clothing accessories and jewelry, etc. Goods are retailed at Rakuten online shop, too. Imports from Italy, France, UK, other Europe, USA, etc. Goods are all spot & direct purchase by Shin’ichi Ikeda on frequent trips to these countries.
FINANCIAL INFORMATION
The sales volume for Sept/2007 fiscal term amounted to Yen 105 million, a 13% down from Yen 120 million in the previous term. Consumer spending was slow. Higher Euro against Japanese Yen reduced purchase amount. The net profit remained similar at Yen 1 million.
For the current term ending Sept 2008 the net profit is projected at Yen 1 million, on a 5% rise in turnover, to Yen 110 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 1.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1997
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 3 million
Major shareholders (%)
Shin’ichi Ikeda (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports & retails designers’ brand clothing, clothing accessories, jewelry products, other (--100%).
(Designers’ brands handled): Nightcap Clothing, Jessica Simpson, Betsey Johnson, Kitson, Gem Kingdom, Blue Blood, Black Heart Brigade, Clare Pain, Comme des Garcons, Diesel, Sweet Years, Buffalo, Beckerman, SNS Herring, Morphine Generation, other.
Clients
Consumers, online shoppers, other
No. of accounts
Unavailable
Domestic areas of activities
Limited in Kyoto
Suppliers
[Mfrs, wholesalers] Spot purchase in UK, France, Italy, Netherlands, USA, other and imported.
Payment record
Regular
Location
Business area in Kyoto. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Kyoto Chuo Shinkin Bank (Shijo)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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110 |
105 |
120 |
110 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
1 |
1 |
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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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10 |
9 |
8 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
4.76 |
-12.50 |
9.09 |
4.76 |
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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 |
0.91 |
0.95 |
0.83 |
0.91 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/09/2008 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%)