MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASAHIYA CO LTD |
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Registered Office : |
2-13-16 Marunouchi Nakaku Nagoya 460-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
September 1946 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Women’s Apparel |
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 275.7 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
ASAHIYA CO LTD
REGD NAME: KK Asahiya
MAIN OFFICE: 2-13-16 Marunouchi Nakaku Nagoya 460-0002JAPAN
Tel:
052-203-3971 Fax: 052-203-3910
URL: http://www.asahiya.co.jp/
E-Mail address: info@asahiya.co.jp
ACTIVITIES
Import, wholesale of women’s apparel
BRANCHES
Tokyo
FACTORY(IES)
Komaki (Warehouse)
OFFICER(S)
KIMIRO TSUZUKI, PRES
Junzo Nakai, dir
Toyoki Deguchi, dir
Hitoshi Kawai, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,080 M
PAYMENTS REGULAR CAPITAL Yen 126 M
TREND STEADY WORTH Yen 1,864 M
STARTED 1946 EMPLOYES 78
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN WOMEN’S
APPAREL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 275.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by local entrepreneurs for selling women’s clothing. The firm has been succeeded by the present executives. Specializes in import and wholesale of women’s clothing, skirts, jackets, pantaloons, other. Goods are imported thru trading houses. Clients are major chain stores, apparel mfrs, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen 8,080 million, an 11% drop from Yen 9,050 million in the previous term. Price competition hurt the sales growth. The operations dipped in the red to register Yen 195 million recurring profit and Yen 196 net losses for the term. Inventory adjustment was the major reason for the losses. This compares with Yen 67 million recurring profit and Yen 47 million net profit, respectively, a year ago.
For the current term ending Mar 2009 the operations are projected to come back to profitability to post Yen 45 million net profit, on a 1.5% rise in turnover, to Yen 8,200 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 275.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1946
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 10 million shares
Issued: 2,534,000 shares
Sum: Yen 126,720,000 million
Major shareholders (%)
Mikiro Tsuzuki, other (-- Breakdown unavailable)
No. of shareholders: 117
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales women’s apparel: jackets, skirts, pantaloons, other (--100%)
Clients
[Chain stores, supermarkets, apparel makers] Ito-Yokado, Daiei Inc, Aeon Co, Onward Kashiyama, Mitsukoshi, Shimamura Co, Uny Corp, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Tamurakoma & Co, NI Teijin Trading, Mitsui & Co, Itochu Corp, Takisada Nagoya, Toyoshima Co, other.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
MUFG (Ohtsu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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8,200 |
8,080 |
9,050 |
9,044 |
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Recur.
Profit |
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-195 |
67 |
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Net
Profit |
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45 |
-196 |
47 |
19 |
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Total
Assets |
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3,971 |
4,670 |
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Current
Assets |
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3,326 |
4,058 |
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Current
Liabs |
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1,986 |
2,455 |
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Net
Worth |
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1,864 |
2,087 |
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Capital,
Paid-Up |
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126 |
126 |
126 |
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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 |
1.49 |
-10.72 |
0.07 |
6.40 |
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Current Ratio |
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.. |
167.47 |
165.30 |
.. |
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N.Worth Ratio |
.. |
46.94 |
44.69 |
.. |
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R.Profit/Sales |
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.. |
-2.41 |
0.74 |
.. |
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N.Profit/Sales |
0.55 |
-2.43 |
0.52 |
0.21 |
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Return On Equity |
.. |
-10.52 |
2.25 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2009
fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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%)