MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
NEVER SAY NEVER CO LTD |
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Registered Office : |
5-10-203 Nihombashi-Tomizawacho Chuoku |
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Country : |
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Date of Incorporation : |
July2006 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Retail of Women’s Apparel |
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 9.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
name & address
NEVER SAY NEVER CO LTD
REGD NAME: KK Never Say Never
MAIN OFFICE: 5-10-203
Nihombashi-Tomizawacho Chuoku Tokyo 103-0006
Tel: 03-5935-8834 Fax: 03-3669—1762
: The given address is its
E-Mail
address: luz@llena.name
ACTIVITIES
Retail of women’s apparel
BRANCHES
At the caption address
FACTORY(IES)
(subcontracted)
OFFICER(S)
TOMOYUKI IWAI, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 543 M
PAYMENTS UNKNOWN CAPITAL Yen 10 M
TREND UNDETD WORTH Yen 10 M
STARTED 2006 EMPLOYES 24
COMMENT
RETAILER OF WOMEN’S CLOTHING &
ACCESSORIES.
FINANCIAL SITUATION UNDETERMINED
DUE TO THE RECENT INCEPTION BUT SHOULD BE GOOD FOR MODERATE AND BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
9.5 MILLION, 30 DAYS, SECURED TERMS ARE RECOMMENDED.
HIGHLIGHTS
The subject company was
established by Tomoyuki Iwai in order to make most of his previous experience
in the subject line of business. This is
a retailer specializing in women’s & children’s clothing &
accessories. Goods are retailed online,
too.
FINANCIAL INFORMATION
The sales volume for Apr/2008
fiscal term amounted to Yen 543 million, a sharp 496% rise from Yen 76 million
for 10 months in the initial accounting term.
Business started on the full swing with internet shopping
increasing. The net profit was posted at
Yen 4 million.
For the current term ending Apr
2009 the net profit is projected at Yen 3 million, on a 10% fall in turnover,
to Yen 490 million. Consumer spending is
down due to recent financial crisis.
Unemployment and job cuts are reported daily.
Both the financial situation and
business trends are not determined due to the recent inception but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 9.5 million, 30 days, we
recommending secured terms on new transactions.
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REGISTRATION
Date Registered: Jul 2006
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%)
Tomoyuki Iwai (100)
Nothing detrimental is known as to
his commercial morality.
OPERATION
Activities: Retails women’s &
children’s clothing & accessories (--100%)
Clients
Consumers, online shoppers, other
No. of accounts: Unavailable
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Marumitsu Co, Yagihyo Co,
Payment record:
Regular
Location: Business
area in
Bank References
MUFG (Ginzadori)
Asahi Shinkin Bank
(Higashi-Nihombashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
NOT MADE AVAILABLE
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.49 |
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1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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%)