MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAS JAPAN CO LTD |
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Registered Office : |
Tomei Bldg 4F, 4-2-10 Kitakyuhojimachi Chuoku Osaka 541-0057 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
September 1998 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Women’s Apparel and Accessories |
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 4.8 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
PAS JAPAN CO LTD
REGD NAME: Pazu Japan KK
MAIN OFFICE: Tomei Bldg 4F, 4-2-10
Kitakyuhojimachi Chuoku Osaka 541-0057 JAPAN
Tel:
06-6253-3490 Fax: 06-6253-3499
E-Mail address:e.fujiwara@pasico.co.jp
ACTIVITIES
Mfg of women’s apparel & accessories
BRANCHES
Tokyo
FACTORY(IES)
Shanghai (3-5) (subcontracted
OFFICER(S)
EIGO FUJIWARA, PRES
Yuko Matsukihira, dir
Yumi Minami, dir
Chiaki Fujiwara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 250 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 29 M
STARTED 1998 EMPLOYES 8
COMMENT
MFR SPECIALIZING IN WOMEN’S CLOTHING & CLOTHING
ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 4.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1973 by Eigo Fujiwara, on his account, for wholesaling women’s apparel and clothing accessories. Later switched to mfg of these items, with several sewing mills subcontracted in Shanghai, China. Holds patents in Japan, USA and China for “Ecopermon” a deodorant agent made from persimmon tannin. The agent has come to be used widely for stockings, inner wear, pants, other. That gave wider network of clients into apparel & hosiery mfrs nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2007 fiscal term amounted to Yen 250 million, a 79%% sharp rise from Yen 140 million in the previous term. Clientele networks expanded added to the expanded production in China. The net profit was posted at Yen 7 million, up from Yen 3 million a year ago.
For the term ended Feb 2008 the net profit was projected at Yen 7 million, on a 12% rise in turnover, to Yen 280 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 4.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1998
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Eigo Fujiwara (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures women’s apparel, apparel accessories, others (--100%).
Goods are mostly manufactures at subcontracted factories in Shanghai and imported.
Also imports from USA, Europe, other.
Clients
[Mfrs, wholesalers, mail order houses] Itochu Corp, Beruna, Seishukai, Sunwell, Secile, Mutow, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Sun Mate, other.
Imports from China, USA, etc.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Midosuji)
Resona Bank (Semba)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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29/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual
Sales |
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280 |
250 |
140 |
130 |
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Recur.
Profit |
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Net
Profit |
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7 |
7 |
3 |
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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29 |
22 |
19 |
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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 |
12.00 |
78.57 |
7.69 |
8.33 |
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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 |
2.80 |
2.14 |
2.31 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 29/02/2008 fiscal
term.
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%)