MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
COSMO SHOJI INC |
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Registered Office : |
Seiko Shinko Bldg 5F, 1-5-9 Kotobuki Taitoku |
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Country : |
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Financials (as on) : |
31.01.2008 |
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Date of Incorporation : |
February 1964 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of Alcohol Beverages, Japanese Foods, Tableware |
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 3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
COSMO SHOJI INC
REGD NAME: KK
Cosmo Shoji
MAIN OFFICE: Seiko
Shinko Bldg 5F, 1-5-9 Kotobuki Taitoku
Tel: 03-5827-2212
Fax: 03-5827-2213
URL: http://www.cosmosho.co.jp/
E-Mail address: info@cosmosho.co.jp
ACTIVITIES
Export
of alcohol beverages, Japanese foods, tableware
BRANCHES
Nil
OFFICER(S)
YASUO
KIYOE, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES WEAK A/SALES Yen 287 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
(-) 60 M
STARTED 1964 EMPLOYES 4
COMMENT
EXPORTER
OF ALCOHOLIC BEVERAGES & JAPANESE FOODS.
FINANCIAL
SITUATION CONSIDERED WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 3 MILLION, 30 DAYS, RECOMMENDING
SECURED TERMS ON ALL CREDITS.
HIGHLIGHTS
The subject company was established by Yasuo Kiyoe in order
to make most of his previous experience in the subject line of business. This is a small-sized trading firm specializing
in exporting alcoholic beverages, Japanese foods, tableware & kitchen
utensils. Tableware & kitchen
utensils are also imported. Originally
started exporting to Asian countries but has gradually expanded into Europe,
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jan/2008 fiscal term amounted to Yen
287 million, a 14% down from Yen 333 million in the previous term. Exports decreased as affected by stronger
Yen. The net profit was posted at Yen 1
million, compared with Yen 3 million a year ago.
For the current term ending Jan 2009 the net profit is
projected at Yen 1 million, on a 9% fall in turnover, to Yen 260 million. Exports are expected to further decline due
to the recent financial crisis world over.
The financial situation is considered WEAK but should be
good for MODERATE business engagements. Max credit limit is estimated at Yen 3.0
million, on 30 days, recommending secured terms on all transactions.
REGISTRATION
Date Registered: Feb 1964
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000
shares
Sum: Yen 20
million
Major shareholders (%)
Yasuo Kiyoe (85) & families
(--15)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports alcohol beverages & foods
(90%), tableware, kitchen utensils, others (--10%).
(Handling items):
Alcohol Beverages: Sake,
premium sake, shochu, plum wine, other;
Japanese Foodstuffs: Noodle,
soy sauce, dry/frozen foodstuffs, etc;
Sushi-Related Items: Fresh/frozen
foodstuff, sushi robot, show case, etc;
Tableware/Kitchenware: Appetizer dish, soup bowl, sake
bottle, kitchen knife, hot plate table, other.
Clients
[Hotels, restaurant chains, food
distributors] Vina Vita (15%), JPG, Uchno SA, Deans Trading,
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Izumiya,
Kokubu Ltd, Morinaga Milk
Payment record:
Regular
Location:
Business area in
Bank References
Mizuho
Bank (Asakusa)
Asahi
Shinkin Bank (Kotobuki)
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2009 |
31/01/2008 |
31/01/2007 |
31/01/2006 |
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Annual
Sales |
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260 |
287 |
333 |
232 |
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Recur.
Profit |
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1 |
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Net
Profit |
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1 |
1 |
3 |
1 |
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Total
Assets |
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N/A |
N/A |
52 |
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Net
Worth |
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-60 |
-61 |
-64 |
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Capital,
Paid-Up |
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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 |
-9.41 |
-13.81 |
43.53 |
5.45 |
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Current Ratio |
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.. |
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192.10 |
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N.Worth Ratio |
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.. |
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-123.08 |
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N.Profit/Sales |
0.38 |
0.35 |
0.90 |
0.43 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/01/2009 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.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)