MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
WADAHIRO CO LTD |
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Registered Office : |
5-5-26 Minaminagaocho Kitaku Sakai Osaka-Pref 591-8045 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
November 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Children’s Wear |
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 45.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
WADAHIRO CO LTD
REGD NAME: Wadahiro KK
MAIN OFFICE: 5-5-26 Minaminagaocho Kitaku Sakai Osaka-Pref
591-8045 JAPAN
Tel:
072-251-3591 Fax: 072-253-0861
URL: http://www.wadahiro.co.jp/
E-Mail address:t.wada@wahiroi,co.jp
ACTIVITIES
Mfg of children’s wear
BRANCHES
Tokyo
FACTORY(IES)
At the caption address; Ehime; China (2)
OFFICER(S)
Hiroto Wada, ch
NORIO WADA, PRES
Toshihiro Wada, mgn dir
Nobuo Tokumoto, mgn dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,348 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 663 M
STARTED 1969 EMPLOYES 23
COMMENT
MFR OF CHILDREN’S WEAR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 45.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hiroto Wada in order to make most of his experience in the subject line of business. Norio is his son. Specializes in mfg children’s clothing & wear: pants, shirts, outer wear, caps, accessories, other. Has two subcontracted factories in China. Goods are shipped to supermarkets, chain stores, other., nationwide.
FINANCIAL INFORMATION
The sales volume for Jul2007 fiscal term amounted to Yen 1,348 million, an almost similar amount in the previous. Warm winter hurt the sales. This is applied to all department stores & supermarkets. Their sales declined, particularly of clothing. The recurring profit was posted at Yen 49 million and the net profit t Yen 33 million, respectively, compared with Yen 61 million recurring profit and Yen 32 million net profit, respectively, a year ago.
For the current term ending Jul 2008 the net profit is projected at Yen 35 million, on a 4% rise in turnover, to Yen 1,400 million. The firm is bullish this figures can be attained. We are rather conservative seeing sales results of department stores & supermarkets at end of Mar/2008. This may be reduced.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 45.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1969
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Hiroto Wada & families (--100)
No. of shareholders: 8
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures children’s’ wear and clothing accessories (--100%).
Two factories operated in China.
Clients
[Supermarkets, department stores, chain stores] Ito-Yokado, Aeon Corp, Mycal Corp, Seiyu Ltd, Sumisho Textile, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Nichimen Fashion, Kurabo Textile, YKK Fastening Products, other.
Imports from China (subcontracted mfrs)
Payment record
Regular
Location
Business area in Sakai City. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
MUFG (Tamaide)
Shoko Chukin Bank (Sakai)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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1,400 |
1,348 |
1,349 |
1,167 |
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Recur.
Profit |
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49 |
61 |
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Net
Profit |
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35 |
33 |
32 |
53 |
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Total
Assets |
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1,208 |
1,324 |
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Current
Assets |
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1,023 |
1,154 |
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Current
Liabs |
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540 |
595 |
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Net
Worth |
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663 |
722 |
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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 |
3.86 |
-0.07 |
15.60 |
3.27 |
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Current Ratio |
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.. |
189.44 |
193.95 |
.. |
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N.Worth Ratio |
.. |
54.88 |
54.53 |
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R.Profit/Sales |
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.. |
3.64 |
4.52 |
.. |
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N.Profit/Sales |
2.50 |
2.45 |
2.37 |
4.54 |
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Return On Equity |
.. |
4.98 |
4.43 |
.. |
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Notes: Forecast (or estimated) figures for the 31/07/2008 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.42.30 |
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UK Pound |
1 |
Rs.84.03 |
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Euro |
1 |
Rs.66.42 |
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%)