MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
KYOWA CO LTD |
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Registered Office : |
3-8-1 Nishijiriikecho Nagataku |
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Country : |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
April 1968 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Clothing, Fabrics, Campus Shoes, Men’s
Shoes, Other |
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 27.6 MILLION |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
KYOWA CO LTD
REGD NAME: Kyowa
KK
MAIN OFFICE: 3-8-1
Nishijiriikecho Nagataku
Tel: 078-611-4376
Fax: 078-611-4378
URL: Nil
ACTIVITIES
Mfg of
clothing, fabrics, campus shoes, men’s shoes, other
BRANCHES
FACTORY(IES)
OVERSEAS
OFFICER(S)
Atsuro
Adachi, ch
HIROSHI
ADACHI, PRES
Takashi
Horio, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 850 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
378 M
STARTED 1968 EMPLOYES 14
COMMENT
MFR
SPECIALIZING IN WOMEN’S CLOTHING, MEN’S SHOES, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
27.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Atsuro Adachi in
order to make most of his experience in the subject line of business. Hiroshi is his son. Specializes in mfg women’s & children’s
clothing, clothing accessories, men’s shoes, other. Mfg is mostly subcontracted to factories in
FINANCIAL INFORMATION
The sales volume for Sept/2007 fiscal term amounted to Yen
831 million, a 21% down from Yen 1,055 million in the previous term. This is referred to unseasonable heat &
cold both in winter & summer. The
net profit was posted at Yen 55 million, compared with Yen 63 million a year
ago.
For the term that ended Sept 2008 the net profit was
projected at Yen 50 million, on a 2% rise in turnover, to Yen 850 million. Final results have not been released as
yet. Higher Yen should have assisted
imports at lower prices. Consumer
confidence, however, remained depressed due to the recent financial
crisis. Unemployment & job cuts are
now everyday event. All the major
automakers cut contract workers.
Homeless youngsters are said increasing with no immediate hope of
finding jobs.
The financial situation is considered
FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 27.6
million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1968
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen
10 million
Major shareholders (%)
Atsuro Adachi, Hiroshi Adachi
(--100).
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures women’s & children’s
clothing, clothing accessories, men’s shoes, campus shoes, fabrics, other
(--100%).
Goods are mostly subcontracted
mfg to factories in
Clients
[Mfrs, wholesalers, apparel stores]
Young Fashion Kenkyusho, Hirosaki Shoten, Service Shoji, Prebois, Komukai
Shoji, other
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Nippi Inc,
other.
Imports from subcontracted mfrs in
Payment record:
Regular
Location:
Business area in
Bank References
Mizuho
Bank (
Minato
Bank (Ohashi)
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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850 |
831 |
1,055 |
966 |
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Recur.
Profit |
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97 |
107 |
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Net
Profit |
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50 |
55 |
63 |
57 |
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Total
Assets |
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670 |
762 |
669 |
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Current
Assets |
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520 |
580 |
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Current
Liabs |
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186 |
269 |
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Net
Worth |
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378 |
323 |
260 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.29 |
-21.23 |
9.21 |
-8.17 |
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Current Ratio |
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.. |
279.57 |
215.61 |
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N.Worth Ratio |
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56.42 |
42.39 |
38.86 |
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R.Profit/Sales |
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11.67 |
10.14 |
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N.Profit/Sales |
5.88 |
6.62 |
5.97 |
5.90 |
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Return On Equity |
.. |
14.55 |
19.50 |
21.92 |
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Notes:
Forecast (or estimated) figures for the 30/09/2008 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.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
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%)