MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARADOX CO LTD |
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Registered Office : |
TTS Minamiaoyama Bldg 8F, 6-12-1 Minamiaoyama Minatoku Tokyo 107-6711 |
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Country : |
Japan |
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Date of Incorporation : |
September 1995 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Retail of Women’s Clothing and Accessories |
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
PARADOX CO LTD
REGD NAME: KK Paradox
MAIN OFFICE: TTS Minamiaoyama Bldg 8F, 6-12-1 Minamiaoyama
Minatoku Tokyo 107-6711 JAPAN
Tel:
03-5766-6711 Fax: 03-3499-7011
URL: http://www.finalstage.co.jp/
(Of the parent, S-System Co Ltd)
E-Mail address: (thru
the URL)
ACTIVITIES
Retail of women’s clothing & accessories
STORES
14 stores in Tokyo
OFFICER(S)
MASANORI NIIMI, PRES
Yen
Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,450 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 135 M
STARTED 1995 EMPLOYES 65
COMMENT
RETAILER OF WOMEN’S CLOTHING
& ACCESSORIES, OWNED BY S-SYSTEM
CO LTD.
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 on the basis of a division separated from
S-System Co Ltd, retailer of clothing, Tokyo, in order to expand retailing
business in the greater-Tokyo area.
This is a retailer of women’s clothing & clothing accessories. Handles a brand vanessabruno (France)
centrally. Operates 14 stores in Tokyo.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The
sales volume for Mar/2008 fiscal term amounted to Yen 1,450 million, a 17% down
from Yen 1,750 million in the previous term.
This business is affected by sluggish consumer demand in addition to
lower-priced imports from Asian countries.
The net profit was posted at Yen 15 million, compared with Yen 18
million a year ago. .
For the
current term ending Mar 2009 the net profit is projected at Yen 13 million, on
a 7% fall in turnover, to Yen 1,350 million.
Consumer mind is further down due to the recent financial crisis world
over. Massive unemployment is a great
concern. Consumers tend to spend less.
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: Sept 1995
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%)
S-System Co Ltd*(100)
* Mfr of women’s clothing, Tokyo, founded 1988, capital Yen 10
million, sales Yen 3,000 million, employees 102, pres Kenkichi Miyamoto
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Retails women’s clothing &
accessories, branded “vanessabruno” (France), operating 14 stores in the
central Tokyo (100%)
Clients
Consumers
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs] I-Logistics, other.
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
Shikoku Bank (Tokyo
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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1,350 |
1,450 |
1,750 |
1,800 |
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Recur.
Profit |
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Net
Profit |
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13 |
15 |
18 |
18 |
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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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135 |
120 |
102 |
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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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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-6.90 |
-17.14 |
-2.78 |
-5.26 |
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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 |
0.96 |
1.03 |
1.03 |
1.00 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2009 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.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)