MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
COOPER VISION JAPAN INC |
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Registered Office : |
Hiroo SK Bldg 6F, 2-36-13 Ebisu Shibuyaku Tokyo 150-0013 |
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Country : |
Japan |
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Date of Incorporation : |
July 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of disposable contact lenses |
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 181.6 MILLION |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
COOPER VISION JAPAN INC
REGD NAME: Cooper Vision Japan KK
MAIN OFFICE:
Hiroo SK Bldg 6F, 2-36-13 Ebisu Shibuyaku Tokyo 150-0013 JAPAN
Tel: 03-5449-6511
Fax: 03-5449-6512
URL: http://www.coopervision.jp/
E-Mail address: info@coopervision.jp
ACTIVITIES
Import, wholesale of disposable contact lenses
BRANCHES
Osaka, Nagoya, Hiroshima, Fukuoka, Sendai, Sapporo
FACTORY(IES)
(Subcontracted)
OFFICER(S)
MASAKAZU NIWA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,689 M
PAYMENTS REGULAR CAPITAL Yen 499 M
TREND STEADY WORTH Yen 914 M
STARTED 2001 EMPLOYES 93
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DISPOSABLE CONTACT LENSES,
WHOLLY OWNED BY US CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 181.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established as the marketing base in Japan by
Ocular Sciences Inc, USA, named originally as Ocular Science KK, and started
marketing daily disposable contact lenses “1dayBIOMEDICS”. In Jul 2005 renamed as captioned after the
US principal was merged into Cooper Vision Inc, USA. This is a trading house specializing in import and wholesale of
disposable contact lenses and accessories.
Handling brands are: “1dayBIOMEDICS”, “1dayAquair”, “2weeksAquair”, and
accessories. The firm says lenses are
carefully prepared using the utmost edge technologies, the firm being most
particular about edge shape & care, by the method of Liquid Edge Molding
technologies (including dry-cast molding & liquid-cast molding). Products are wholly supplied from the US
principal and group firms worldwide.
Clients include major contact lenses mfrs, contact lenses store chains,
specialty stores, opticians, eye clinics, etc, nationwide.
FINANCIAL INFORMATION
The sales volume for Oct/2006 fiscal term amounted to Yen 8,679 million,
a 21% up from Yen 7,150 million in the previous term. The net profit was posted at Yen 312 million, down from Yen 350
million a year ago. Profits worsened
due to rising costs of imports (materials) that were not passed onto consumers.
For the term ended Oct 2007 the net profit is believed posted at Yen 315
million, on a 2% rise in turnover, to Yen 8,800 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 181.6 million, on 30 days normal terms.
REGISTRATION
Date Registered : Jul 2001
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
9,980 shares
Issued :
9,980 shares
Sum :
Yen 499 million
Major shareholders (%) : Cooper
Vision Nederland BV (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales disposable contact lenses &
accessories (--100%).
Products are branded: “1dayBIOMEDICS”, “1dayAquair”, “2weeksAquair”,
other.
Clients: Contact lenses chain stores, opticians, eye clinics, contact
lens mfrs, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Supplied wholly from Cooper Vision, USA,
and group mfrs worldwide.
Payment record
Regular
Location
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Nihombashi-Chuo)
Citi Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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31/10/2007 |
31/10/2006 |
31/10/2005 |
31/12/2004 |
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Annual Sales |
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8,900
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8,679
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7,160
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7,200
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Recur. Profit |
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89 |
288 |
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Net Profit |
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315 |
312 |
350 |
-388 |
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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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914 |
602 |
252 |
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Capital, Paid-Up |
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499 |
499 |
499 |
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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 |
2.55 |
21.22
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19.33
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1.41 |
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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 |
3.54 |
3.59 |
4.89 |
-5.39
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Notes: Financials are only partially disclosed.
The 31/10/2005 fiscal term was for irregular 10 months due to change to Nov-Oct
from the previous Jan-Dec fiscal term.
The growth rate is adjusted on a 12-month basis.
Forecast (or estimated) figures for the 31/10/2007 fiscal term.
(*) Data disclosed by the Taxation Office as the pretax profits.
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%)