MIRA
INFORM REPORT
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Report Date : |
14.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
QUEEN BEE GARDEN CO LTD |
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Registered Office : |
2-8 Shimizu-Mabase Shizuoka 424-0876 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
July 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of honey, health foods |
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 24.6 MILLION |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
QUEEN BEE GARDEN CO LTD
REGD NAME: KK Queen Bee Garden
MAIN OFFICE: 2-8 Shimizu-Mabase Shizuoka
424-0876 JAPAN
Tel : 0543-45-3320
Fax : 0543-46-8059
URL : http://www.qbg.co.jp/
E-Mail :
info@qbg.co.jp
ACTIVITIES
Mfg of honey, health foods
BRANCHES
Tokyo
FACTORY(IES)
At the caption address
OFFICER(S)
TADANOBU ODA, PRES Seiichi
Nishimura, dir
Yoshie Amano, dir Shigeo
Hoshikawa, dir
Toshiaki Suzuki, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,340 M
PAYMENTS REGULAR CAPITAL Yen 38 M
TREND SLOW WORTH Yen 152 M
STARTED 1959 EMPLOYES 50
COMMENT
MFR OF HONEY & HEALTH FOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 24.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1931 by
Masayoshi Matsuda when he imported honey bees to process into honey, on his
account. Incorporated in 1959 the firm
has been succeeded by the present executives.
This is a producer/processor of honey and health foods. Health foods include royal jelly, propolis,
maple syrup, other. Also imports honey
from Italy and Canada. Clients include
food processors, amusement parks, food wholesalers, other. Goods are sold online, too.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen
1,340 million, a 7% down from Yen 1,445 million in the previous term. The net profit was posted at Yen 2 million,
compared with Yen 3 million a year ago.
The sales decline is referred to sluggish consumer demand.
For the current term ending Mar 2008 the net profit is
projected at Yen 2 million, on a 5% rise in turnover, to Yen 1,400
million. Weaker Yen will contribute to
raise sales in Yen amount.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 24.6 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jul 1959
Legal Status : Limited
Company (Kabushiki Kaisha)
Authorized :
300,000 shares
Issued :
76,600 shares
Sum : Yen 38.8 million
Major shareholders (%): Tadanobu Oda (30)
No. of shareholders: 13
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures & processes honey, royal jelly,
propolis, maple syrups, other health foods, Disney character goods
(--100%).
Also imports honey from Italy (Brands: Millefiori &
Agumi) & Canada.
Goods are sold online, too.
Clients: [Food processors, business firms, amusement
centers] Oriental Land (Tokyo Dis- ney
Land), Morinaga & Co, Pola Chemical Ind, Nisshoku Co, Kanaka Shokuhin
Hambai, Ikeden Corp, Radish Boya, Kayaku Co, St Cousair Co, Flouveil Corp,
other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Alen Enterprise, Odem
International, Corn Starch Japan, Dainippon
Printing, Crown Package, Saito Ware, Daisho Glass, Yoshino Kogyo, Kyokuei,
Cargill Japan, other.
Imports from Italy, Canada, other.
Payment record
Regular
Location
Business area in Shizuoka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Shizuoka Chuo Bank (Shimizu)
Mizuho Bank (Azabu)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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1,400
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1,340
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1,445
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1,186
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Recur. Profit |
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Net Profit |
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2 |
2 |
3 |
5 |
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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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152 |
149 |
144 |
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Capital, Paid-Up |
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38 |
38 |
38 |
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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 |
4.48 |
-7.27
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21.84
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7.82 |
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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 |
0.14 |
0.15 |
0.21 |
0.42 |
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Notes: Financials are only partially disclosed.
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%)