MIRA
INFORM REPORT
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Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
YAMASHIN INC |
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Registered Office : |
2292 Senbacho Mito Ibaraki-Pref 310-0851 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
June 1982 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Operates DIY stores, furniture stores |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 1,819 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name & address
YAMASHIN INC
REGD NAME: KK Yamashin
MAIN OFFICE: 2292 Senbacho Mito
Ibaraki-Pref 310-0851 JAPAN
Tel:
029-305-1111 Fax: 029-305-1122
URL: http://www.yamashin-grp.co.jp/
E-Mail address: info@yamashin-grp.co.jp
ACTIVITIES
Operates DIY stores, furniture stores
STORES
45 stores in Ibaraki-Pref
OFFICER(S)
Kenji Yamaguchi, ch
ICHIRO YAMAGUCHI, PRES
Nobuko Yamaguchi, mgn dir
Ken’ichi Omori, dir
Shigenori Imakawa, dir
Masaaki Kashimura, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 49,297 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 22,195 M
STARTED 1982 EMPLOYES 951
COMMENT
DIY & FURNITURE STORE OPERATOR IN IBARAKI-PREF.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR
ORDI- NARY
BUSINESS ENGAGEMENTS..
MAX CREDIT LIMIT
YEN 1,819 MILLION, 30 DAYS
NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kenji Yamaguchi, ch at the firm, in order to make most of his
experience in the subject line of business. Originally started as a furniture mfr and later switched mainline to
the operation of DIY/Furniture stores. Operates a total of 45 stores within Iba-raki-Pref. Placed 4th in
terms of sales turnover in Ibaraki-Pref. Goods are also imported.
FINANCIAL INFORMATION
The
sales volume for Mar/2007 fiscal term amounted to Yen 49,297 million, a 12% up
from Yen 43,987 million in the previous term.
This is attributed to the opening of new stores during the term. The net profit was posted at Yen 1,445 million,
compared with Yen 1,220 million the previous year.
For the current term ending Mar
2008 the net profit is projected at Yen 1,500 million, on a 5% rise in
turnover, to Yen 52,000 million.
The financial situation is considered
GOOD and responsible for ORDINARY business en- gagements.
Max credit limit is estimated at Yen 1,819 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jun 1982
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 60,000
shares
Sum: Yen
30 million
Major shareholders (%)
Yamashin Kosan*(99), Ibaraki
Furniture Ryutsu (1)
* Holding company owned by
Yamaguchi family.
No. of shareholders
2
Nothing detrimental is known as to
^the commercial morality of executives.
OPERATION
Activities: Operates a total 45 DIY/Furniture stores in
Ibaraki-Pref (100%).
Handling items: DIY goods, furniture & home interior
goods, exterior goods, car accessories, other
home-use goods, etc.
Clients
Consumers
No. of accounts: Unavailable
Domestic areas of activities: Centered in Ibaraki-Pref
Suppliers
[Mfrs, wholesalers] Kao Corp, Cleanup
Corp, Casio Computer, Paltac, Kamei Corp, Yamazen Corp,
France Bed, Mitsubishi Stationery,
Karimoku Kagu Hambai, other.
Payment record
Regular
Location
Business area in Mito,
Ibaraki-Pref. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
Joyo Bank (H/O)
Mizuho Bank (Mito)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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52,000 |
49,297 |
43,987 |
42,537 |
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Recur.
Profit |
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1,771 |
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Net
Profit |
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1,500 |
1,445 |
1,220 |
1,241 |
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Total
Assets |
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35,167 |
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Current
Assets |
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17,815 |
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Current
Liabs |
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7,347 |
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Net
Worth |
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22,195 |
22,250 |
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Capital,
Paid-Up |
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30 |
30 |
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Div.P.Share(¥) |
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25.00 |
25.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.48 |
12.07 |
3.41 |
-2.46 |
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Current Ratio |
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.. |
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242.48 |
.. |
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N.Worth Ratio |
.. |
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63.27 |
.. |
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R.Profit/Sales |
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.. |
.. |
4.03 |
.. |
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N.Profit/Sales |
2.88 |
2.93 |
2.77 |
2.92 |
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Return On Equity |
.. |
6.51 |
5.48 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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%)