MIRA
INFORM REPORT
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Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DAIWA TRADING CO LTD |
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Registered Office : |
U.M. Bldg 7F, 1-14-5 Higashiueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
August 1981 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Jewelry |
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 5.0 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name of the company
DAIWA TRADING CO LTD
REGD NAME: KK Daiwa Boeki
MAIN OFFICE
U.M. Bldg 7F, 1-14-5 Higashiueno Taitoku Tokyo 110-0015 JAPAN
Tel: 03-3836-2062 Fax: 03-3837-2779
URL
http://www.daiwa-trd.co.jp (under
repairing)
E-Mail address
ACTIVITIES
Import, wholesale of jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
KAZUO OTSUKA, PRES
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 330 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND SLOW WORTH Yen 70 M
STARTED 1981 EMPLOYES 12
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN JEWELRY.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$70,000 / O/A 30 DAYS.
MAX CREDIT LIMIT
YEN 5.0 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was
established by Kazuo Otsuka in order to make most of his experience in the
subject line of business. This is a
trading company, owned and managed by the Otsuka family, for import and
wholesale of jewelry. Originally an
import division of Yazawa KK, a wholesaler of jewelry, Tokyo, and became
independent. The subject imports goods
from India, China, Taiwan, etc. Goods are
partially subcontracted mfg to local jewelry processors.
FINANCIAL INFORMATION
The financials are only partially
disclosed.
The sales volume for Jul/2007
fiscal term amounted to Yen 330 million, an 11% down from Yen 370 million in the
previous term. This is referred to
sluggish consumer spending that continued.
The net profit decreased to Yen 1 million from Yen 3 million a year
earlier.
For the current term ending Jul
2008 the net profit is projected at Yen 1 million, on a 6% recovery in
turnover, to Yen 350 million.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements. The proposed amount,
however, is considered TOO HIGH from the recent financial status. Max credit limit is estimated at Yen 5.0
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Aug 1981
Legal
Status: Limited Company (Kabushiki
Kaisha)
Authorized: 320,000 shares
Issued: 60,000 shares
Sum: Yen 40 million
Major shareholders (%)
Kazuo Otsuka (100)
Nothing detrimental is known as to
his commercial morality.
OPERATION
Activities: Imports and wholesales
gemstones, jewelry products (--100%).
Gemstones are partially
subcontracted mfg into jewelry products to local jewelry processors.
Clients
[Jewelry stores, jewelry
processors, chain stores] Yamano Jewelry Systems, Gold House International,
Pola Cosmetics Inc, other.
No. of accounts: 200
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Gem Marketing,
Ever Trading, Tamura Shokai, Takada, Kiritani, other.
Also imports from India, Taiwan,
China (Hong Kong), other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
SMBC (Ueno)
Shoko Chukin Bank (Ueno)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms
Ending: |
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31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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350 |
330 |
370 |
400 |
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Recur.
Profit |
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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 |
N/A |
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Net
Worth |
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70 |
69 |
66 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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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 |
6.06 |
-10.81 |
-7.50 |
0.00 |
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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 |
0.29 |
0.30 |
0.81 |
0.25 |
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Notes: Financials are only
partially disclosed.
Forecast (or estimated) for the
31/07/2008 fiscal term.
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%)