MIRA
INFORM REPORT
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Report Date : |
17-01-2008 |
IDENTIFICATION
DETAILS
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Name : |
ACROS INTERNATIONAL CO LTD |
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Registered Office : |
Cosmos Asakusabashi Sakai Bldg 4F, 1-32-6 Asakusabashi Taitoku Tokyo
111-0063 |
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Country : |
Japan |
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Date of Incorporation : |
January, 2000 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of T-shirts, casual wear,
sports wear, accessories. |
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 19.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name of the company
ACROS INTERNATIONAL CO LTD
REGD NAME: KK Acros International
MAIN OFFICE
Cosmos Asakusabashi Sakai Bldg 4F, 1-32-6 Asakusabashi Taitoku Tokyo
111-0063 JAPAN
Tel: 03-5822-6455 Fax:
03-5822-6456
*
Moved to the caption address in Apr 2006 from the former at: Ebisu Bldg
7F, 2-2-6 Hanakawado Taitoku Tokyo 111-0033, as given.
URL
http://www.acros-int.co.jp
(Japanese only)
E-Mail address
info@acros-int.co.jp
ACTIVITIES
Import, wholesale of T-shirts, casual wear, sports wear, accessories
BRANCHES
Gifu
FACTORY(IES)
(subcontracted both at home & abroad)
OFFICERS
MAKOTO NAKAYAMA, PRES
Masayuki Aoki, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,070 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 57 M
STARTED 2000 EMPLOYES 14
COMMENT
TRADING HOUSE
SPECIALIZING IN CASUAL WEAR AND ACCESSORIES. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$60,600 / D/A 60 DAYS.
MAX CREDIT LIMIT
YEN 19.2 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by
Makoto Nakayama in order to make most of his experience in foreign
trading. This is a small-sized trading
house, with mfg division, specializing in T-shirts & casual wear for men,
women and children. Officially approved
by NPO World Karate Organization Shin-Kyokushinkai to print its logo marks on
the T-shirts. Goods are subcontracted
mfg to domestic and overseas factories, such as in Korea, China, Thailand,
Vietnam, other, and imported. Goods are
retailed online, too. Clients are
specialty chain stores centering in the greater-Tokyo area.
FINANCIAL INFORMATION
The sales volume for Feb/2007 fiscal term
amounted to Yen 1,070 million, a 57% sharp rise from Yen 860 million in the
previous term. Demand rose from younger
generation for T-shirts carrying Karate logos.
Also named brands expanded (See OPERATION). The net profit, on the other hand, decreased to Yen 6 million from
Yen 13 million net profit a year ago.
The previous term’s profits are reported included some extraordinary
income.
For the current term ending Feb 2008 the net
profit is projected at Yen 7 million, on a 3% rise in turnover, to Yen 1,100
million. Demand continues steady and on
the rise.
The financial situation is considered maintained
FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 19.2 million, on 30 days
normal terms. The proposed amount for
60 days terms is considered within the firm’s financial capabilities.
REGISTRATION
Date Registered: Jan 2000
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Makoto Nakayama (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales T-shirts,
sports wear, casual wear, casual jackets for men, women and children, rings,
caps, other clothing accessories (--100%).
Goods are imported from subcontracted mfrs
in China, Thailand, Vietnam, Korea, etc.
(Handling brands):
FILA,
PUMA, Three Stones Throw, COURSE2COURSE, Earth Grand, other.
Goods are also sold online, too.
Clients
[Specialty stores, sports goods stores]
Olympic Corp, Tawaraya, Niwako, Jeans Mate,
Kinkado, Marufuru Co (casual wear chain store operator), Commodity Iida, Sakai
Ovex, other.
No. of accounts: 300
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from
subcontracted makers in Korea, China, Vietnam, Thailand, other.
Also supplied domestically from Kurabo
Textile, Aitoz Corp, Hashimoto Sangyo, other.
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kaminarimon)
SMBC (Asakusabashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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29.02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual Sales |
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1,100 |
1,070 |
860 |
640 |
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Recur. Profit |
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Net Profit |
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7 |
6 |
13 |
7 |
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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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57 |
51 |
38 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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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 |
2.80 |
24.42 |
34.38 |
-17.95 |
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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 |
0.64 |
0.56 |
1.51 |
1.09 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 29/02/2008 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%)