MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PICO INC |
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Registered Office : |
Aqua City Shibaura 9F, 4-16-23 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
September 1977 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Electronics Communication Equipment
and Components |
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 24.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
PICO INC
REGD NAME: Pico KK
MAIN OFFICE: Aqua City Shibaura 9F, 4-16-23 Shibaura
Minatoku Tokyo 108-0023 JAPAN
Tel:
03-3418-7671 Fax: 03-5418-7680
E-Mail address:info@pico.co.jp
ACTIVITIES
Import, wholesale of electronics communication equipment
& components
BRANCHES
Osaka, Nagoya
OVERSEAS
China (2), Singapore, Malaysia, Thailand, Hong Kong, Taiwan
OFFICER(S)
KOICHI OHSHIMA, PRES
Akiyoshi Ohshima, ch
Akihisa Ohshima, s/mg dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,633 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen 186 M
STARTED 1977 EMPLOYES 65
COMMENT
IMPORTER OF ELECTRONIC COMMUNICATION EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 24.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Akiyoshi Ohshima in order to make most of his experience in the subject line of business. Koichi is his son, who took the pres office in Oct 2003. This is a trading firm, wholly owned by the Ohshima family, for import and wholesale of electronic communication equipment. Operates overseas offices in China, Taiwan, Thailand, Singapore, other. Clients are major electronics mfrs.
FINANCIAL INFORMATION
The sales volume for Oct/2007 fiscal term amounted to Yen 1,633 million, a 5% down from Yen 1,720 million in the previous term. Price competition was severe affecting sales. The operations, however, came back from deficit to register Yen 20 million net profit for the term. The previous term posted Yen 38 million net losses, coming from inventory adjustment.
For the current term ending Oct 2008 the net profit is projected at Yen 21 million, on a 4% rise in turnover, to Yen 1,700 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 24.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1977
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%)
Akiyoshi Ohshima (50), Koichi Ohshima (16), Akihisa Ohshima (16),Takae Ohshima (16)
No. of shareholders: 6
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales electronic communication equipment & components (--100%)
Clients
[Electronics mfrs] Sony Corp, Toshiba Corp, Cannon Inc, Matsushita Electric Ind,
Sanyo Electric, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Sky Gate, QA Technology, Holy Land, other.
Imports from China, Malaysia, Singapore, Thailand, Hong, Taiwan, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Shimbashi)
Resona Bank (Tamachi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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1,700 |
1,633 |
1,720 |
324 |
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Recur.
Profit |
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Net
Profit |
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21 |
20 |
-38 |
9 |
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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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186 |
166 |
204 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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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 |
4.10 |
-5.06 |
430.86 |
-82.36 |
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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 |
1.24 |
1.22 |
-2.21 |
2.78 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/10/2008 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.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)