MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAKASHINA LIFE PRESERVERS CO LTD |
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Registered Office : |
1-1-30 Kuboyoshi Naniwaku Osaka 556-0028 |
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Country : |
Japan |
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Financials (as on) : |
31/08/2007 |
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Date of Incorporation : |
Mar 1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of life jackets, life boats, marine sports
goods |
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 47.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name of the Company
TAKASHINA LIFE PRESERVERS CO LTD
REGD NAME
Takashina Kyumei Kigu KK
MAIN OFFICE
1-1-30 Kuboyoshi Naniwaku Osaka 556-0028 JAPAN
Tel: 06-6568-3512
Fax: 06-6568-7528
E-Mail address: contact@tlpc.co.jp
ACTIVITIES
Mfg of life jackets, life boats, marine sports goods
BRANCHES
Tokyo
FACTORY(IES)
At the caption address, Kochi (2);
China (3)
OFFICER(S)
Hisaya Takashina, ch YOSHIHISA
TAKASHINA, PRES
Saibun Takashina, mgn dir Jun’ei
Mori, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,624 M
PAYMENTS REGULAR CAPITAL Yen
94 M
TREND STEADY WORTH Yen
255 M
STARTED 1961 EMPLOYES 48
COMMENT
MFR OF LIFE JACKETS, MARINE SPORTS GOODS, OTHERS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 47.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hisaya Takashina in order to make most of his pre-vious experience in the subject line of business. Yoshihisa is the founder’s son who took the pres office in Nov 2006. This is mfr specializing in marine sports goods, with life jackets & life boats as mainline. Manufactures marine engineering tools, such as shovel, pickax, other; marine equipment, canoes, fishing boats, fishing gears, outdoor sports goods, etc. Goods are manufactures at 3 domestic facto-ries and 3 in China. Goods are distributed by specialty stores nationwide, including online catalog sales.
FINANCIAL INFORMATION
The firm stopped releasing full financials as from the 31/03/2006
fiscal term and only partial figures have been made available.
The sales volume for Aug/2007 fiscal term amounted to Yen
2,624 million, a 3% up from Yen 1,272 million for irregular 6 months, due to
change in accounting term, in the previous term. The growth rate is adjusted on a 12-month basis. The net profit was posted at Yen 30
million. This reportedly is said
including some extraordinary income by disposal of fixed assets. The last term posted Yen 6 million net
profit.
For the current term ending Aug 2008 the net profit is
projected at Yen 15 million, on a 3% rise in turnover, to Yen 2,700
million. Business is seen continuing
growth.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 47.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar
1961
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 700,000
shares
Issued: 189,000
shares
Sum: Yen
94.5 million
Major shareholders (%)
Hisaya Takashina (30.7), Shimada Co*(27.7)
No. of shareholders
12
* Wholesaler of marine equipment & goods, Osaka.
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures life jackets, life boats, other
marine goods (--100%).
Mfg
items: life jackets, life boats, life rafts, marine engineering
tools (shovels, pickaxes, etc), canoes, fishing boats, fishing gears, outdoor
sports goods, oil fences, other.
Goods are manufactured at 3 domestic factories and 3 in
China, and distributed through dealership stores nationwide, including online
catalog sales.
Clients
[Sports goods stores, mfrs, wholesalers, governments,
municipalities] Yamaha Corp (10%), Shimada Co (10%), Johshuya Co, Gamakatsu Co,
Taiyo Kogyo Corp, Hamada Shokai, Kameki Kogyo, Ministry of Land, Infrastructure
& Transport, Ministry of Defense, other.
Exports to Helly Hansen Canada Ltd, Marine Technologies
International Inc, etc.
No. of accounts
1,000
Domestic areas of activities:
Nationwide
Suppliers
[Mfrs, wholesalers] Shimada Co, Izumi Cosmo, Tsuda Co, Kochi
Styrol, YKK Fastening Co, Nihon Tansan
Gas, Shibata Ind, other.
Imports from China, other, including Confluence, Adventure
Technology, etc.
Payment record
Regular
Location
Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Juso Shinkin Bank (Kujo)
Resona Bank (Sakurakawa)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/08/2008 |
31/08/2007 |
31/08/2006 |
28/02/2006 |
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Annual Sales |
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2,700 |
2,624 |
1,272 |
1,877 |
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Recur. Profit |
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Net Profit |
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15 |
30 |
6 |
11 |
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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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255 |
230 |
224 |
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Capital, Paid-Up |
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94 |
94 |
94 |
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Div.P.Share(¥) |
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25.00 |
0.00 |
15.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.90 |
3.14 |
35.53 |
13.35 |
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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 |
0.56 |
1.14 |
0.47 |
0.59 |
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Notes: Financials are only partially disclosed as from the
31/08/2006 fiscal term.
The 31/08/2006 fiscal term is for irregular 6 months due to
change in accounting term to Sept/Aug from the
former Mar/Feb. Growth rates are
adjusted on a 12-month basis.
Forecast (or estimated) figures 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%)