MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KISHI GUM CO LTD |
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Registered Office : |
2-7-17 Nagono Nishiku Nagoya 451-0042 |
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Country : |
Japan |
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Financials (as on) : |
29.02.2008 |
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Date of Incorporation : |
January 1974 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Balloons and Toys |
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 18.4 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
KISHI GUM CO LTD
REGD NAME: Kishi Gomu KK (Gomu means Rubber)
MAIN OFFICE: 2-7-17 Nagono Nishiku Nagoya 451-0042 JAPAN
Tel:
052-563-4681 Fax: 052-563-4684
URL: http://www.kishi-gum.co.jp/
E-Mail address: info@kishi-gum.co.jp
ACTIVITIES
Import, wholesale of balloons & toys
BRANCHES
Nagoya (2), Osaka, Tokyo, other (Tot 7)
FACTORY(IES)
(subcontracted)
OFFICER(S)
NORITAKA KISHI, PRES
Sakiko Kishi, dir
Mieko Kishi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,890 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 114 M
STARTED 1974 EMPLOYES 32
COMMENT
WHOLESALER OF TOYS & BALLOONS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 18.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1946 by Tsuneo Kishi, on his account, for selling rubber balloons and toys, on his account. Incorporated in 1974, the firm has been succeeded by the present executives. Noritaka Kishi is the founder’s son, who took the pres office in 1992. This is a trading firm, wholly owned by the Kishi family, for import and wholesale of toys and rubber balloons, sales promotional items, gift goods, others. Operates 7 gift & toy shops centrally in Nagoya & Osaka. Clients are department stores, chain stores, other. Has an office in Tokyo covering Tokyo area.
FINANCIAL INFORMATION
Financials are disclosed in digested forms.
The sales volume for Feb/2008 fiscal term amounted to Yen 1,890 million, a 9% up from Yen 1,742 million in the previous term. Sales promotional goods sold well. The recurring profit was posted at Yen 17 million and the net profit at Yen 13 million, respectively, compared with Yen 3 million recurring profit and Yen 3 million net profit, respectively, a year ago.
For the current term ending Feb 2009 the net profit is projected at Yen 14 million, on a 3% rise in turnover, to Yen 1,950 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 18.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1974
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 30,000 shares
Sum: Yen 30 million
Major shareholders (%)
Noritaka Kishi (38), Mieko Kishi (13), Sakiko Kishi (8), Ryosuke Kishi (5)
No. of shareholders: 11
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales rubber balloons (40%), sales promotional goods (20%), gift items (20%), toys, others (--20%).
Goods are also retailed at own stores and online shops.
Clients
[Department stores, chain stores, wholesalers, retailers] Tokyu Hands, Aeon Fantasy, Sega Toys, Daikin Co, Shimojima Co, Hoyu Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Pioneer Balloon Co, Westwind, Shinei Rubber Goods, Maruka Corp, Amscan Japan, Gibi Japan, other.
Payment record: Regular
Location
Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Gifu Shinkin Bank (Nagoya)
MUFG (Nagoya-Ekimae)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
28/02/2009 |
29/02/2008 |
28/02/2007 |
28/02/2006 |
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Annual
Sales |
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1,950 |
1,890 |
1,742 |
1,503 |
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Recur.
Profit |
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17 |
3 |
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Net
Profit |
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14 |
13 |
3 |
15 |
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Total
Assets |
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736 |
703 |
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Current
Assets |
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572 |
498 |
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Current
Liabs |
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455 |
415 |
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Net
Worth |
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114 |
101 |
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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 |
3.17 |
8.50 |
15.90 |
2.95 |
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Current Ratio |
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.. |
125.71 |
120.00 |
.. |
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N.Worth Ratio |
.. |
15.49 |
14.37 |
.. |
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R.Profit/Sales |
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.. |
0.90 |
0.17 |
.. |
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N.Profit/Sales |
0.72 |
0.69 |
0.17 |
1.00 |
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Return On Equity |
.. |
11.40 |
2.97 |
.. |
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Notes: Forecast (or estimated) figures for the 28/02/2009
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.43.72 |
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UK Pound |
1 |
Rs.81.45 |
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Euro |
1 |
Rs.64.47 |
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%)