MIRA
INFORM REPORT
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Report Date : |
16.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
REEF CO LTD |
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Registered Office : |
Silbird Bldg 5F, 2-20-10 Negishi Taitoku Tokyo 110-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2008 |
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Date of Incorporation : |
October 1991 |
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Com. Reg. No.: |
(Tokyo) 014826 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Semiconductors, LED/LCD, LED Diode |
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 2.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
REEF CO LTD
REGD NAME: Reef KK
MAIN OFFICE: Silbird Bldg 5F, 2-20-10 Negishi Taitoku Tokyo
110-0003 JAPAN
Tel:
03-5603-5191 Fax: 03-5603-5192
URL: http://www.cnet-ta.ne.jp/
E-Mail address:reef@po.cnet-ta.ne.jp
ACTIVITIES
Import, wholesale of semiconductors, LED/LCD, LED Diode
BRANCHES
Nil
OFFICER(S)
MAKOTO INOUE, PRES
Takao Shimizu, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 150 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 51 M
STARTED 1991 EMPLOYES 5
COMMENT
IMPORTER OF SEMICONDUCTORS, LED/LCD, OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 2.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Makoto Inoue in order to make most of his experience in the subject line of business. This is a trading firm specializing in importing and wholesaling semiconductors (old & new), LCD/LED, LED Diode, other. Goods are imported from USA, India, Taiwan, Germany, other. Clients include major electronics mfrs.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2007 fiscal term amounted to Yen 150 million, a 6% down from Yen 160 million in the previous term. Competition lowered semiconductor prices. The operations came back from the deficit to post Yen 4 million net profit for the term. The previous term registered Yen 1 million net losses, coming from inventory adjustments.
For the term that ended May 2008 the net profit was projected at Yen 4 million, on a 7% rise in turnover, to Yen 160 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1991
Regd No;: (Tokyo) 014826
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Makoto Inoue (90), Takako Inoue (10)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales semiconductors, LED/LCD, LED Diode, LCD digital switches, production control monitoring systems, RFID card systems, alarm clocks, others (--100%).
Products include those older types which production already terminated.
Clients
[Mfrs, wholesalers] IDX, Meidensha Co, Futaba Corp, Fuji Electric, Meisei Electric, Nippon Avionix, Hitachi Kokusai Electric, Nikken Kiki, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from USA, Taiwan, Korea, Hong Kong, Germany, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Resona Bank (Nippori)
SMBC (Ueno)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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160 |
150 |
160 |
200 |
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Recur.
Profit |
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Net
Profit |
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4 |
4 |
-1 |
-3 |
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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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51 |
47 |
48 |
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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 |
6.67 |
-6.25 |
-20.00 |
-20.00 |
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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 |
2.50 |
2.67 |
-0.63 |
-1.50 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/05/2008 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.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
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%)