MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
YAMASEN CO LTD |
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Registered Office : |
Iwamotoya Bldg, 3-6-21 Kyomachibori Nishiku Osaka 550-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2008 |
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Date of Incorporation : |
March 1973 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer (subcontracted), Wholesale of Women’s
Sweaters, Knit 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 10.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
YAMASEN CO LTD
REGD NAME: Yamasen KK
MAIN OFFICE: Iwamotoya Bldg, 3-6-21 Kyomachibori Nishiku
Osaka 550-0003 JAPAN
Tel:
06-6448-5501 Fax: 06-6445-0909
URL: N/A
ACTIVITIES
Mfg (subcontracted), wholesale of women’s sweaters, knit
wear
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
MAMORU YAMAO, PRES
Rie Motoya, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 571 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 150 M
STARTED 1973 EMPLOYES 6
COMMENT
IMPORTER AND WHOLESALER OF WOMEN’S SWEATER & KNIT
WEAR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 10.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established Mamoru Yamao in order to make most of his expderience in the subject line of business. A trading firm, with mfg division, for import and wholesale of women’s sweaters & knit wears. Subcontracted mfg factory in China. Clients include major
Department stores, chain stores.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jan/2008 fiscal term amounted to Yen 571 million, an 8% down from Yen 622 million in the previous term. Warm weather in winter season damaged the sales. This is all referred to department stores & supermarkets. Cheaper imports also affected. Consumer spending remained low. The net profit was posted at Yen 1 million, down from Yen 2 million a year ago.
For the current term ending Jan 2009 the net profit is projected at Yen 2 million, on a 3% rise in turnover, to Yen 590 million. The firm is aggressively expanding sales networks to local chain stores & supermarkets. The firm is confident that this figures will be achieved. The consumer spending, however, still remains low.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 10.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1973
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Mamoru Yamao (85)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales women’s sweater & knitwear (--100%)
Goods are subcontracted mfg to China, other S/E Asian countries and imported.
Clients
[Department stores, chain stores, supermarkets] Mitsukoshi, Takashimaya, Aeon Corp, Shimamura, Daiei Inc, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Corp, Uny Kit, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Midosuji)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2009 |
31/01/2008 |
31/01/2007 |
31/01/2006 |
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Annual
Sales |
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590 |
571 |
622 |
583 |
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Recur.
Profit |
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Net
Profit |
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2 |
1 |
2 |
1 |
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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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150 |
149 |
147 |
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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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50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.33 |
-8.20 |
6.69 |
-13.88 |
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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 |
0.34 |
0.18 |
0.32 |
0.17 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2009 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%)