MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
WEDGE CO LTD |
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Registered Office : |
3-58 Fukujucho-Hirakata Hashima City Gifu-Pref 501-6257 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
October 1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Men’s Pajamas, Nightwear |
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 31.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
WEDGE CO LTD
REGD NAME: KK Wedge
MAIN OFFICE: 3-58 Fukujucho-Hirakata Hashima City Gifu-Pref
501-6257 JAPAN
Tel:
058-398-4911 Fax: 058-398-4900
URL: N/A
ACTIVITIES
Import, wholesale of men’s pajamas, nightwear
BRANCHES
Shanghai
FACTORY(IES)
Shanghai (subcontracted)
OFFICER(S)
KEISUKE AOKI, PRES
Tadao Uehigashi, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,467 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 235 M
STARTED 1994 EMPLOYES 15
COMMENT
IMPORTER OF MEN’S NIGHTWEAR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 31.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Keisuke Aoki in order to make most of his experience in the subject line of business. This is a trading firm specializing in importing and wholesaling pajamas, other nightwear for men. Goods are mostly imported from subsidiary & subcontracted factories in Shanghai, other China. Domestic clients include major apparel makers, wholesalers, other.
FINANCIAL INFORMATION
The firm disclosed digested financials for the 31/12/2006 fiscal term only, otherwise all of partial figures.
The sales volume for Dec/2007 fiscal term amounted to Yen 1,467 million, a 4% down from Yen 1,448 million in the previous term. Imports declined due to price competition among the trade. The net profit was posted at Yen 20 million, up from Yen 19 million a year ago. Cost-cutting efforts worked to improve profitability.
For the current term ending Dec 2008 the net profit is projected at Yen 20 million, on a 2% recovery in turnover, to Yen 1,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 31.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1994
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%)
Keisuke Aoki (70), Yasuhiko Miwa (15), Junko Aoki (5), Yumi Aoki (5)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales pajamas, nightwear for men (--100%).
Goods are imported mostly from subsidiary makers in Shanghai.
Clients
Apparel mfrs, wholesalers] Wacoal Holdings Corp, Renown Inc, Sumitomo Corp, Kosugi Sankyo, Kid Blue, Blue Mate, other
No. of accounts: 300
Domestic areas of activities: Centered in greater-Nagoya including Osaka
Suppliers
[Mfrs, wholesalers] Imports from China.
Domestically supplied from NI Teijin Shoji, Sumikin Bussan Corp, other.
Payment record: Regular
Location
Business area in Hashima City, Gifu-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Juroku Bank (Hashima)
Gifu Shinkin Bank (Hashima)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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1,467 |
1,448 |
1,505 |
14,000 |
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Recur.
Profit |
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63 |
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Net
Profit |
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20 |
19 |
14 |
68 |
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Total
Assets |
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773 |
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Current
Assets |
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452 |
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Current
Liabs |
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325 |
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Net
Worth |
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235 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
20 |
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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 |
1.31 |
-3.79 |
-89.25 |
830.85 |
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Current Ratio |
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139.08 |
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N.Worth Ratio |
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30.40 |
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.. |
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R.Profit/Sales |
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4.35 |
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.. |
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N.Profit/Sales |
1.36 |
1.31 |
0.93 |
0.49 |
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Return On Equity |
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8.09 |
.. |
.. |
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Notes: Financials are only partially disclosed, except for
the 31/12/2006 fiscal term.
Disclosed figures for the 31/12/2007 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.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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%)