MIRA
INFORM REPORT
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Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRIEND MARINE SERVICES CO. LTD |
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Registered Office : |
749-14 Minamishitauracho-Kikuna Miura City
Kanagawa-Pref 238-0102 |
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Country : |
Japan |
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Financials (as on) : |
31/08/2007 |
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Date of Incorporation : |
Sept 1985 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer, Importer, Wholesaler of
Fishing Boat Fittings |
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 3.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name
FRIEND MARINE SERVICES CO LTD
REGD NAME
Friend Marine Services KK
MAIN OFFICE
749-14 Minamishitauracho-Kikuna Miura City Kanagawa-Pref 238-0102JAPAN
Tel: 046-889-1139
Fax: 046-889-1456
URL http://www.friends-marine.co.jp/
E-Mail Address: info@friends-marine.co.jp
ACTIVITIES
Mfg, import, wholesale of fishing boat fittings
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
YOSHIO INOUE, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 210 M
PAYMENTS REGULAR CAPITAL Yen 21 M
TREND STEADY WORTH Yen 36 M
STARTED 1985 EMPLOYES 10
COMMENT
MFG (SUBCONTRACTED) OF FISHING
BOAT FITTINGS & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 3.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Yoshio Inoue in order to make most of his
experience in the subject line of business.
Specializes in mfg fishing boat fittings & accessories. Mfg is subcontracted to local factories. 60% of the clients are individual customers.
FINANCIAL INFORMATION
The
sales volume for Aug/2007 fiscal term amounted to Yen 210 million, a 7% up from
Yen 196 million in the previous term.
Business expanded to pleasure boats.
The net profit was posted at Yen 2 million, up from Yen 1 million a year
ago.
For
the current term ending Aug 2008 the net profit is projected at Yen 2 million,
on a 5% rise in turnover, to Yen 220 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 3.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1985
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 50
shares
Sum: Yen
21 million
Major shareholders (%)
Yoshio Inoue (60)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures, imports and exports fishing boat
& pleasure boat fittings (--100%).
Clients
[Mfrs,
wholesalers] Yanmar Co & group firms, Nissan Motors, Toyota Motors,
individual customers, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Yanase of America, Nakamura Sengu Kogyo,
Pioneer, Hanwa Kozai, other.
Payment record: Regular
Location
Business
area in Miura City, Kanagawa-Pref.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Suruga Bank (Miurakaigan)
Resona Bank (Yokosuka)
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 |
31/08/2005 |
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Annual Sales |
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220 |
210 |
196 |
195 |
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Recur. Profit |
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Net Profit |
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2 |
2 |
1 |
1 |
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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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36 |
34 |
33 |
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Capital, Paid-Up |
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21 |
21 |
21 |
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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 |
4.76 |
7.14 |
0.51 |
0.00 |
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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 |
0.91 |
0.95 |
0.51 |
0.51 |
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Notes: Financials
are only partially disclosed.
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%)