MIRA
INFORM REPORT
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Report Date : |
02.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
KF CO LTD |
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Registered Office : |
Osaka Bihoukaikan 2F, 1-18-14 Higashi Shinsaibashi Chouku Osaka
542-0083 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
July 1977 |
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Legal Form : |
Limited Company ( Kabushiki Kaisha) |
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Line of Business : |
Manufacturing, Processing, Repairing, Remodeling of jewelry products. |
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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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name and
Address
KF CO LTD
REGD NAME: KK
K. F.
MAIN OFFICE: Osaka
Bihoukaikan 2F, 1-18-14 Higashi Shinsaibashi Chuoku Osaka
542-0083
JAPAN
Tel: 06-6245-6536
Fax: 06-6241-0613
URL: http://www.dr-j.co.jp
E-Mail address: keiefu@cf.mbn.or.jp;
webmaster@dr-j.co.jp
ACTIVITIES
Mfg, processing, repairing, remodeling of jewelry products
BRANCHES
Nil
FACTORY(IES)
At the caption address, also subcontracted
OFFICERS
v
NOBUHIRO IMANISHI, PRES & CEO
v
Kunio Imanishi, dir
v
Yasushi Ohnishi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 580 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND SLOW WORTH Yen 84 M
STARTED 1977 EMPLOYES 13
COMMENT
MFR OF
JEWELRY PRODUCTS, AFFILIATED TO IMAYO & CO LTD.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established originally in 1977 as a
jewelry processor and later in 1991 became a subsidiary of Imayo & Co Ltd, trading
house of jewelry, based in Kyoto (See
REGISTRATION). Nobuhiro Imanishi
is concurrently pres of the parent. The
subject firm specializes in mfg, processing of jewelry products, such as
pendants, fingerings, earrings, and other products. Also offers repairing, remodeling, made-to-order jewelry
services. Goods are supplied from the
parent and group firms. Group consists
of 9 firms domestic/overseas. Operates
a web shop by name of “Dr. Jewelry”.
Goods are supplied to the parent and group firms centrally, and to local
jewelry stores.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The
sales volume for Jul/2007 fiscal term amounted to Yen 580 million, a 2% up from
Yen 568 million in the previous term.
(The figures are reported in rounded-off numbers only). Business is seen recovering. The previous term was severely hurt by
competition among the trade with lower-priced accessories imported from China
and other S/E Asian countries. The net
profit remained unchanged at Yen 1 million.
For
the current term ending Jul/2008 the net profit is projected at Yen 1 million,
on a 2% rise in turnover, to Yen 590 million.
Consumer spending is recovering.
Business is seen steady moving upwards.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 10.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1977
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 400,000
shares
Issued: 100,000
shares
Sum: Yen
50 million
Major shareholders
(%)
Nobuhiro Imanishi (50), Imayo & CO Ltd*(50)
No. of shareholders: 2
* Trading house of
jewelry, Kyoto, owning 9 subsidiaries, founded 1966, capital Yen 96 million, turnover Yen 3,693 million, net profit Yen 13 million,
employees 59, pres Nobuhiro Imanishi concurrently.
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Manufactures, processes, and wholesales jewelry products,
such as pen-dants, bracelets, necklaces, fingerings, pierced earrings,
others (--100%).
Also, offers repairing, remodeling, made-to-order services.
Goods are also retailed online shop named “Dr. Jewelry”.
Clients
[Mfrs, wholesalers] Imayo & Co, Imayo Jewelry, Kawashima
Gold, Yubido, Platinum Interwork, Kunita, Eiko Watch,
Takada Jewelry, other.
No. of accounts
150
Domestic areas of activities
Nationwide (through the parent and group firms)
Suppliers
[Mfrs, wholesalers] Imayo & Co, Alpine 21, Gosho, We
Can, Akasaka Uny Lace, Diart Saegusa,
KK Fuji, other.
Payment record
Regular
Location
Business area in Osaka.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Kyoto)
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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590 |
580 |
568 |
572 |
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Recur. Profit |
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Net Profit |
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1 |
1 |
1 |
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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84 |
83 |
82 |
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Capital, Paid-Up |
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50 |
50 |
50 |
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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 |
1.72 |
2.11 |
-0.70 |
-6.23 |
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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 |
0.17 |
0.17 |
0.18 |
0.17 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/07/2006 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%)