MIRA
INFORM REPORT
|
Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
MIT CORPORATION |
|
|
|
|
Registered Office : |
Tiger Bldg 6F, 3-1-3 Bakurocho Chuoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
April 2006 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Wholesale of Bathroom Supplies, Water Purifier,
Health-Care Goods |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
YEN 3.3 Million |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
MIT CORPORATION
REGD NAME: KK
M.I.T.
MAIN OFFICE: Tiger
Bldg 6F, 3-1-3 Bakurocho Chuoku
Tel: 06-6120-2606
Fax: 06-6120-2607
E-Mail address: info@mit-corp.biz/
ACTIVITIES
Import,
wholesale of bathroom supplies, water purifier, health-care goods
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
TAMAKI
NOMA, PRES
Hideo
Noma, dir
Yuki
Noma, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 198 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
81 M
STARTED 2006 EMPLOYES 5
COMMENT
IMPORTER
OF BATHROOM UNITS, SUPPLIES, HEALTH-CARE GOODS.
FINANCIAL SITUATION CONSIDERED RATHER
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
3.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tamaki Noma in order
to make most of her experience in the subject line of business. This is a trading firm, owned and managed by
the Noma family, for import and wholesale of bathroom units & supplies,
water purifiers, health-care goods, etc.
Goods are subcontracted mfg.
Clients include Zen-Noh Corp.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2008 fiscal term amounted to Yen
198 million, a 65% up from Yen 120 million in the previous term. Business started to be on stream in the
second term. Ecological goods &
health-care goods increased. The net
profit was posted at Yen 35 million, compared with Yen 36 million a year
ago. Price hikes in materials ate into
profits.
For the current term ending Mar 2009 the net profit is
projected at Yen 33 million, on a 4% fall in turnover, to Yen 190 million. Consumer spending is seen sluggish, as
affected by recent financial crisis world over.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 3.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 2006
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10
million
Major shareholders (%)
Tamaki Noma (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales health-care
supplies (bath-room units, hot-water purifiers, ceramic products, germanium
products), ecological supplies (best clean coat of no protocatalyst, best clean
washer, water purifier, etc), others (--100%).
Goods are manufactured on
consignment.
Clients
[Mfrs, wholesalers] Zen-Noh Corp
and members, other
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Supplied
from subcontracted mfrs both at home & abroad
Payment record:
Regular
Location:
Business area in
Bank References
Resona
Bank (Semba)
Mizuho
Bank (Semba)
Relations:
Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
|
31/03/2009 |
31/03/2008 |
31/03/2007 |
|
Annual
Sales |
|
190 |
198 |
120 |
|
Recur.
Profit |
|
|
|
|
|
Net
Profit |
|
33 |
35 |
36 |
|
Total
Assets |
|
|
N/A |
N/A |
|
Net
Worth |
|
|
81 |
46 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
-4.04 |
65.00 |
- - - |
|
|
Current Ratio |
|
|
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
|
|
N.Profit/Sales |
17.37 |
17.68 |
30.00 |
|
Notes:
Financials are only partially disclosed.
The 31/03/2007 is the initial accounting term.
Forecast
(or estimated) figures for the 31/03/2009 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.50 |
|
|
1 |
Rs.70.02 |
|
Euro |
1 |
Rs.67.95 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)