MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
KIBO21 CO LTD |
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Registered Office : |
13-5 Shinminatomachi Kishiwada City Osaka-Pref 596-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
June 1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of veneer |
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 6.4 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
KIBO21 CO LTD
REGD NAME: KK Kibo 21
MAIN OFFICE: 13-5 Shinminatomachi
Kishiwada City Osaka-Pref 596-0012 JAPAN
Tel : 072-432-0021
Fax : 072-432-1158
URL : N/A
ACTIVITIES
Mfg of veneer
BRANCHES
Nil
FACTORY(IES)
At the caption address
OFFICER(S)
MASATAKA TANAKA, PRES
Yoshiko Tanaka, dir
Toshikazu Nakahira, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 824 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 56 M
STARTED 1994 EMPLOYES 7
COMMENT
MFR SPECIALIZING IN VENEER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 6.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Masataka Tanaka in
order to make most of his experience in the subject line of business. This is a saw mill for mfg & processing
veneer, and other timber for building & furniture materials. The firm is owned and operated solely by the
Tanaka family. Clients are house builders mainly in the greater-Osaka
region.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen
324 million, a 10% up from Yen 750 million in the previous term. Client networks expanded, also supported by
recovery in housing starts. Materials
cost hikes also helped. The net profit,
on the other hand, deteriorated to Yen 8 million from Yen 10 million a year
ago. This is referred to the rising
costs of operations.
For the term ended Dec 2007 the net profit was projected and
believed posted at Yen 10 million, on a 6% rise in turnover, to Yen 870
million. Business is seen continuing
expanding. Weaker Yen also assisted for
imports of material wood.
The financial situation is considered maintained FAIR and
good for ORDINARY business en- gagements.
Max credit limit is estimated at Yen 6.4 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jun 1994
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
200 shares
Sum :
Yen 10 million
Major shareholders (%): Masataka Tanaka (70), Yoshiko Tanaka
(20), Junko Tanaka (10)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures veneer & other timber for
building & furniture industries (--100%)
Clients: [House builders, furniture mfrs, wholesalers] Eidai
Sangyo, Daiken Corp, Sumitomo Forestry, Asahi Wood Tech, Sojitz Building
Materials, Daiken Corp Mie, National Building Materials, Setouchi Kako, other.
No. of accounts: 300
Domestic areas of activities: Centered in greater-Osaka
& neighboring prefectures.
Suppliers: [Mfrs, wholesalers] Showa Mokuzai, Sumitomo
Forestry, other.
Also imports from China, other.
Payment record
Regular
Location
Business area in Kishiwada City, adjacent to Osaka
City. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
SMBC (Tenka-Jaya)
Senshu Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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870 |
824 |
750 |
636 |
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Recur. Profit |
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13 |
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Net Profit |
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10 |
8 |
10 |
3 |
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Total Assets |
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444 |
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Current Assets |
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282 |
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Current Liabs |
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73 |
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Net Worth |
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56 |
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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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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.58 |
9.87 |
17.92
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-16.09
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Current Ratio |
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386.30
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.. |
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N.Worth Ratio |
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12.61
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R.Profit/Sales |
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1.58 |
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N.Profit/Sales |
1.15 |
0.97 |
1.33 |
0.47 |
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Return On Equity |
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14.29
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.. |
.. |
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Notes: Forecast (or estimated) figures for the 31/12/2007
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%)