MIRA
INFORM REPORT
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Report Date : |
13.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
YOSHIOKA & CO LTD |
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Registered Office : |
1-60 Akanabe-Hishino Gifu 500-8268 |
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Country : |
Japan |
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Financials (as on) : |
31/08/2007 |
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Date of Incorporation : |
Jul 1950 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing, import, export
of clothing inner & outer fabrics & accessories. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 583.8 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
Name
YOSHIOKA & CO LTD
REGD NAME
Yoshioka KK
MAIN OFFICE:
1-60 Akanabe-Hishino Gifu 500-8268 JAPAN
Tel: 058-276-0116
Fax: 058-276-1114
Registered at: 9-7 Nagazumicho
Gifu 500-8176
URL: http://www.fc-yoshioka.co.jp
E-Mail address: info@fc-yoshioka.co.jp; osk-g801@fc-yoshioka.co.jp
ACTIVITIES
Mfg, import, export of clothing
inner & outer fabrics & accessories
BRANCHES:
Tokyo, Osaka, Nagoya, Okayama
OVERSEAS
Hong Kong, Shanghai (2), Huebei
(China)
FACTORY(IES)
At the caption address; China
(2), Hong Kong
OFFICERS
Gen’ichi Yoshioka, ch MOTOHIRO YOSHIOKA,
PRES
Tadaaki Kuroishi, s/mgn dir Sadayuki
Nohara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 13,085 M
PAYMENTS REGULAR CAPITAL Yen 36 M
TREND SLOW WORTH Yen 5,517 M
STARTED 1950 EMPLOYES 161
COMMENT
MFR SPECIALIZING IN CLOTHING
FABRICS & ACCESSIRUES. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 583.8 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1929 by a certain Yoshioka for mfg clothing materials, on his account. Incorporated in 1950 by Gen’ichi Yoshioka, now ch and has been succeeded by the founder’s descendants. Motohiro took the office of pres in 1988, with Gen’ichi promoting to the ch. Specializes in mfg lining cloths, interfacing and other clothing fabrics. Goods are manufactured mostly at overseas factories: China & Hong Kong (--subsidiaries), Indonesia & Korea (--JV’s). Goods are both exported and imported. Exports the goods to Europe & USA directly from these factories. Clients include major domestic apparel mfrs, wholesalers, and specialty stores, nationwide.
Opened Hong Kong office in 1984; JV in Korea in1987; JV in
Indonesia & Thailand in 1990;
Shanghai office & factory in 1993, starting operations in 1995.
FINANCIAL INFORMATION:
The sales volume for Aug/2007 fiscal term amounted to Yen 13,085 million, a 2% down from Yen 13,351 million in the previous term. Sales were slow with price competitions getting harder among the trade. Lower-priced imports are increasing. The recurring profit was posted at Yen 285 million and the net profit at Yen 163 million, respectively, compared with Yen 381 million recurring profit and Yen 163 million net profit, respectively, a year ago. Cost-saving efforts continued to improve net profits.
For the current term ending Aug 2008 the recurring profit is projected at Yen 285 million and the net profit at Yen 162 million, respectively, on a slight rise in turnover, to Yen 13,200 million. Demand is seen increasing. Exports from China & Hong Kong will increase.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 583.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1950
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 288,000
shares
Issued: 72,000
shares
Sum: Yen
36 million
Major shareholders (%)
Employees’
S/Holding Assn (31.2), Seek Heart*(13.8),
Yoshioka Boshoku**(9.3)
*.. Holding company owned by the
Yoshiokas.
**.. Subsidiary mfr of inner
fabric materials, Gifu.
No. of shareholders
27
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Manufactures clothing fabrics (outer & inner materials): lining cloth, interfacing, shoulder pads, petticoats, lining, suiting materials, other accessories, magnetic thera- peutic fabric goods, other (--100%).
Exports suiting materials and other cloth materials directly from China & Hong Kong factories to USA & Europe.
Clients
[Apparel mfrs, wholesalers] World, Renown Inc, Durban, Hirota Co, Naigai Co, Sanyo Shokai Ltd, Sunrally Co, Minoya Co, Singapore Fashion, other.
No. of accounts
800
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Corp, Marubeni Corp, Mitsui & Co, Sumikin Bussan Corp, Chori Co, Yoshioka Boshoku, Japan Vilene, Takoh Co, other.
Payment record
Regular
Location
Business area in Gifu.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
MUFG (Gifu)
Juroku Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/08/2008 |
31/08/2007 |
31/08/2006 |
31/08/2005 |
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Annual
Sales |
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13,200 |
13,085 |
13,351 |
13,575 |
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Recur.
Profit |
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285 |
285 |
381 |
251 |
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Net
Profit |
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162 |
163 |
163 |
127 |
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Total
Assets |
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8,511 |
8,768 |
8,568 |
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Current
Assets |
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6,589 |
6,917 |
6,487 |
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Current
Liabs |
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2,975 |
3,387 |
2,342 |
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Net
Worth |
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5,517 |
5,357 |
5,199 |
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Capital,
Paid-Up |
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36 |
36 |
36 |
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Div.P.Share(Ą) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.88 |
-1.99 |
-1.65 |
-12.33 |
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Current Ratio |
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221.48 |
204.22 |
276.99 |
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N.Worth Ratio |
.. |
64.82 |
61.10 |
60.68 |
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R.Profit/Sales |
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2.16 |
2.18 |
2.85 |
1.85 |
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N.Profit/Sales |
1.23 |
1.25 |
1.22 |
0.94 |
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Return On Equity |
.. |
2.95 |
3.04 |
2.44 |
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Note: Forecast (or estimated) for the 31/08/2008 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%)