MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEAP CORPORATION |
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Registered Office : |
Fildore Nishiazabu 3F, 3-3-23 Nishiazabu Minatoku Tokyo 106-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2008 |
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Date of Incorporation : |
June 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Building Materials, Interior
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 23.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
LEAP CORPORATION
REGD NAME: KK Leap Corporation
MAIN OFFICE: Fildore Nishiazabu 3F, 3-3-23 Nishiazabu
Minatoku Tokyo 106-0031 JAPAN
Tel:
03-5411-7474 Fax: 03-5411-7475
*
Registered at: 3-3-23 Minamiazabu Minatoku Tokyo
E-Mail address: (thru
the URL)
ACTIVITIES
Import, export, wholesale of building materials, interior
goods
BRANCHES
Nil
OFFICER(S)
Whitney Rich, pres (phonetically spelled)
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,259 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 44 M
STARTED 2004 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER OF BUILDING MATERIALS & INTERIOR
GOODS, OWNED
BY MASCO CORP, USA.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 23.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established in 2004 by Masco Corp, USA, as its marketing office in Japan, as Masco Japan Corp, and renamed as captioned in 2007 in order to take a leap. This is a trading firm specializing in import, export and wholesale of building materials & home interior goods (See OPERATION). Goods are imported from the parent and its group firms. Clients include construction firms, household items mfrs, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2007 fiscal term amounted to Yen 1,259 million, a 57% hike from Yen 801 million in the previous term. Business networks expanded. Housing construction rose in the center of cities. The net profit was posted at Yen 2 million, compared with Yen 1 million a year ago.
For the term that ended May 2008 the net profit was projected at Yen 2 million, on a 7% rise in turnover, to Yen 1,350 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 23.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 2004
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 800 shares
Sum: Yen 40 million
Major shareholders (%)
Masco Corp, USA (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales house building materials & interior goods: combination taps, kitchen basin/cabinets, heating radiators, water surrounding products, bathroom accessories, chandelier, kitchen units, office furniture, other (--100%)
(Handling Brands): Delta, Kraft Maid, Thermic, VASCO, Huppe, Ginger, Kalmar, Aran, New Form, other.
Clients
[Home builders, wholesalers] Smile Corp, Iwatani Setsubi System, Morinaga
Engineering, Taisei Corp, SAA, other
No. of accounts: 3000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Delta, Aran Worldwide, Huppe, other.
Domestically supplied from Iwatani Setsubi System, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Roppongi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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1,350 |
1,259 |
801 |
774 |
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Recur.
Profit |
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Net
Profit |
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2 |
2 |
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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44 |
42 |
41 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.23 |
57.18 |
3.49 |
--- |
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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 |
0.15 |
0.16 |
0.12 |
0.13 |
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Notes: Financials are only partially disclosed.
The 31/05/2005 is the initial accounting term from the
inception.
Forecast (or estimated) figures for the 31/05/2008 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.37 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.65.96 |
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%)