MIRA
INFORM REPORT
|
Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
M HASEGAWA & CO LTD |
|
|
|
|
Registered Office : |
Haseman Bldg, 2-11-6 Tomioka Kotoku Tokyo 135-0047 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
December 1940 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of lumber, bamboo, other building materials;
Office/store building rental & management |
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 8.7 MILLION |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME &
ADDRESS
M HASEGAWA & CO LTD
REGD NAME: KK Hasegawa Manji
Shoten
MAIN OFFICE: Haseman Bldg, 2-11-6
Tomioka Kotoku Tokyo 135-0047 JAPAN
Tel : 03-5245-1151
Fax : 03-5245-1071
URL : N/A
ACTIVITIES
Import, wholesale of lumber, bamboo, other building
materials; Office/store building rental & management
BRANCHES
Tokyo, Takasaki, Gunma, Miyagi
OFFICER(S)
KENJI HASEGAWA, PRES Takao
Onoki, s/mgn dir
Susumu Tomiie, mgn dir Yoshinori
Hoshino, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 9,249 M
PAYMENTS REGULAR CAPITAL Yen 496 M
TREND SLOW WORTH Yen 166 M
STARTED 1940 EMPLOYES 61
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING WOOD & LUMBER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 8.7 MILLION, 30 DAYS, SECURED TERMS
RECOMMENDED ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established originally in 1922 by Manji
Hasegawa as a lumber mer- chant,
on his account. The firm has been
succeeded by his descendants. Kenji
Hasegawa took the office of pres in Jun 1996.
Owned and managed by the Hasegawa family & relatives. This is a trading firm specializing in import
and wholesale of timber, wood, bamboo, and other building materials. Owns office
building at the caption address and rents rooms as office and store
spaces. Goods are mostly imported thru general trading houses.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen
9,249 million, an almost similar turnover in the previous term. Housing market was slow to recover. The recurring profit was posted at Yen 501
million and the net profit at Yen 299 million, respectively, compared with Yen
33 million recurring profit and Yen 345 million net profit, respectively, a
year ago. Profits include extraordinary
income from the disposal of real assets, as reported.
For the current term ending Mar 2008 the net profit is
projected at Yen 300 million, on a 1% rise in turnover, to Yen 9,350
million. Housing market remains still
slow to recover.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 8.7 million, 30 days terms,
recommending secured terms on new transactions.
REGISTRATION
Date Registered : Dec
1940
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
3 million shares
Issued :
992,000 shares
Sum :
Yen 496 million
Major shareholders (%): Kenji Hasegawa (47.5), Yoshiko
Hasegawa (37.4), Junko Onoki (15.1)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales wood, timber, bamboo, and
other building materials; rents office building, others (--100%).
Clients: [House builders, wholesalers] KK Goru (14.3%),
Asakawa Homes (3.2%), KK Daiko (2.8%), Shinshowa Corp (2.6%), Human 21 (2.3%),
other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sumitomo Forestry (11.9%), KK
Goru (11.8%), Butsurin Co (9.2%), Mitsubishi
Shoji Building Materials (7.7%), other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Shoko Chukin Bank (Fukagawa)
SMBC (Kinshicho)
Relations: Satisfactory
FINANCES: (In Million
Yen)
|
Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual Sales |
|
9,350
|
9,249
|
9,211
|
9,371
|
|
Recur. Profit |
|
|
501 |
33 |
|
|
Net Profit |
|
300 |
299 |
346 |
1 |
|
Total Assets |
|
|
12,752
|
12,853
|
|
|
Current Assets |
|
|
6,178
|
6,217
|
|
|
Current Liabs |
|
|
5,121
|
5,940
|
|
|
Net Worth |
|
|
166 |
61 |
|
|
Capital, Paid-Up |
|
|
496 |
496 |
496 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.09 |
0.41 |
-1.71
|
4.89 |
|
|
Current Ratio |
|
.. |
120.64
|
104.66
|
.. |
|
N.Worth Ratio |
.. |
1.30 |
0.47 |
.. |
|
|
R.Profit/Sales |
|
.. |
5.42 |
0.36 |
.. |
|
N.Profit/Sales |
3.21 |
3.23 |
3.76 |
0.01 |
|
|
Return On Equity |
.. |
180.10
|
567.20
|
.. |
|
Notes: Forecast (or estimated) figures for the 31/03/2008
fiscal term.
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%)