MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARUSHIN SHOKAI CO LTD |
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Registered Office : |
Yokoyama Bldg 1F, 1-23-7 Hannancho Abenoku Osaka
545-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Year of Establishment : |
1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale of Knitwear |
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 7.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
NAME
MARUSHIN SHOKAI CO
LTD
REGD NAME
KK Marushin Shokai
MAIN OFFICE
Yokoyama Bldg 1F, 1-23-7 Hannancho Abenoku Osaka 545-0021 JAPAN
Tel: 06-6622-6181 Fax:
06-6624-0590
URL
ACTIVITIES
Import, wholesale of knitwear
BRANCHES
Nil
FACTORY(IES)
(subcontracted): China, Vietnam
OFFICER(S)
TAKAO HIROSE, PRES
Makoto Hirose, dir
Yen Amount:
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 410 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 154 M
STARTED 1996 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN KNITWEAR. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 7.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Takao Hirose in order to make most of his experience in the subject line of business. This is a trading firm, wholly owned by Hirose family, specializing in import and wholesale of knitwear. Goods are subcontracted mfg to China and Vietnam factories. 90% of the goods are imported from China. In 2006, lost the largest buyer of the goods and sales declined.
FINANCIAL INFORMATION
The sales volume for Oct/2007
fiscal term amounted to Yen 410 million, a 28% down from Yen 572 million in the
previous term. The operations dipped into
the red to register Yen 9 million net losses for the term.
For the current term ending Oct
2008 the operations are projected to come back to profitability to post Yen 5
million net profit, on a 10% rise in turnover, to Yen 450 million.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements. Max credit limit is estimated at Yen
7.8 million, on 30 days normal terms.
REGISTRATION
Date
Registered: 1996
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: Dec 1996 shares
Issued:
800 shares
Sum: Yen
200 million
Major
shareholders (%): 10
No. of
shareholders: Makoto
Hirose (70), Takao Hirose (30)
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities:
Imports and wholesales knitwear (100%)
Mfg is subcontracted to China (90%) and Vietnam, and
imported
Clients
[Mfrs, wholesalers] Miyako
Sen’i, Rope Kikaku, other
No. of accounts: 200
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Imports from
China (90%), Vietnam, other
Payment record
Regular
Location
Business
area in Osaka. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Shikoku Bank (Osaka)
MUFG (Uehonmachi)
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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450 |
410 |
572 |
1,410 |
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Recur.
Profit |
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Net
Profit |
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5 |
-9 |
6 |
20 |
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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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154 |
163 |
157 |
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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 |
9.76 |
-28.32 |
-59.43 |
2.10 |
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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 |
1.11 |
-2.20 |
1.05 |
1.42 |
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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.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)