MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUCOM CORPORATION LTD |
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Registered Office : |
States Honmachi Bldg 802, 3-4-9 Kawaramachi Chuoku Osaka 541-0048 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2008 |
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Date of Incorporation : |
May 1996 |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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Line of Business : |
Manufacturer (subcontracted) of Ladies’ Wear, Men’s Apparel |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 3.1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
HUCOM CORPORATION
LTD
REGD NAME: YK Hucom
MAIN OFFICE: States Honmachi Bldg 802, 3-4-9 Kawaramachi
Chuoku Osaka 541-0048 JAPAN
Tel:
06-6222-8870 Fax: 06-6222-8771
URL: N/A
ACTIVITIES
Mfg (subcontracted) of ladies’ wear, men’s apparel
BRANCHES
Tokyo
FACTORY(IES)
(subcontracted)
OFFICER(S)
KIYOKAZU ODA, PRES
Yasuhiro Kominami, dir
Hiroshi Kawakubo, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,143 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 15 M
STARTED 1996 EMPLOYES 10
COMMENT
MFR SPECIALIZING IN MEN’S & WOMEN’S CLOTHING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR RODINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 3.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kiyokazu Oda in order to make most of his experience in the subject line of business. This is a specialized mfr of men’s & women’s apparel. Goods are subcontracted mfg mostly in China and imported. Clients include major chain stores, apparel mfrs, other.
FINANCIAL INFORMATION
The sales volume for Jun/2007 fiscal term amounted to Yen 1,143 million, a 0.6% down from Yen 1,150 million in the previous term. Apparel prices declined. The net profit was posted at Yen 5 million, down from Yen 6 million a year ago.
For the term just ended Jun 2008 the net profit was projected at Yen 6 million, on a 5% rise in turnover, to Yen 1,200 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 3.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1996
Legal Status: Private Limited Company (Yugen Kaisha)
Regd capital: Yen 3 million
Major shareholders (%)
Seiichi Oda (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures (subcontracted), imports and wholesales men’s & women’s clothing, and clothing accessories (--100%).
Clients
[Apparel mfrs, chain stores] World Co, Shimamura, AbAb Akafudado, Mitsuya
Corporation, Cabin, GSI Creos Corp, Heiwado, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] GSI Creos, FIO Ltd, other
Imports from China, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kawaramachi)
SMBC (Midosuji)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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1,200 |
1,143 |
1,150 |
773 |
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Recur.
Profit |
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8 |
8 |
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Net
Profit |
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6 |
5 |
6 |
2 |
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Total
Assets |
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426 |
324 |
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Current
Assets |
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349 |
285 |
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Current
Liabs |
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127 |
185 |
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Net
Worth |
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15 |
9 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
4.99 |
-0.61 |
48.77 |
44.49 |
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Current Ratio |
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.. |
274.80 |
154.05 |
.. |
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N.Worth Ratio |
.. |
3.52 |
2.78 |
.. |
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R.Profit/Sales |
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.. |
0.70 |
0.70 |
.. |
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N.Profit/Sales |
0.50 |
0.44 |
0.52 |
0.26 |
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Return On Equity |
.. |
33.33 |
66.67 |
.. |
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Notes: Forecast (or estimated) figures for the 30/06/2008 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.43.28 |
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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%)