MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FREEDOM TRADING CO LTD CO LTD |
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Registered Office : |
Asai Bldg 7F, 6-23-6 Jingumae Shibuyaku Tokyo 150-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
November 1997 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Jewelry, Accessories, Handbags, other
Accessories |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 4 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
FREEDOM TRADING CO LTD CO LTD
REGD NAME: Freedom Koeki KK
MAIN OFFICE: Asai Bldg 7F, 6-23-6
Jingumae Shibuyaku Tokyo 150-0001 JAPAN
Tel:
03-5468-6081 Fax: 03-5468-6082
URL: N/A
ACTIVITIES
Import, wholesale of jewelry, accessories, handbags, other
accessories
BRANCHES
Nil
OFFICER(S)
AKIRA KOIZUMI, DIR
Tasuke Matsuura, dir
Yoshikazu Sudo, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 264 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 24 M
STARTED 1997 EMPLOYES 4
COMMENT
IMPORTER OF JEWELRY, APPAREL ACCESSORIES, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Akira Koizumi in order to make most of his experience in the subject line of business. This is a small-sized trading firm specializing in importing jewelry, women’s apparel, handbags and other clothing accessories. Goods are mainly imported from Italy and shipped to specialty stores nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2007 fiscal term amounted to Yen 264 million, a 6% up from Yen 250 million in the previous term. Price hikes in all sectors pushed the sales amount in Yen terms. The net profit remained similar at Yen 2 million.
For the term that ended May 2008 the net profit was projected to mark time at Yen 2 million, on a 6% rise in turnover, to Yen 280 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1997
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Akira Koizumi, Tasuke Matsuura, Yoshikazu Sudo (--breakdown
unavailable)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales women’s apparel, jewelry, handbags and other clothing Accessories, from Italy (--100%)
Clients
Specialty stores, chain stores, wholesalers, other
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports mainly from Italy
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Aoyama)
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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280 |
264 |
250 |
220 |
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Recur.
Profit |
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Net
Profit |
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2 |
2 |
2 |
2 |
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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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24 |
22 |
20 |
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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 |
6.06 |
5.60 |
13.64 |
-12.00 |
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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 |
0.71 |
0.76 |
0.80 |
0.91 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/05/2008 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%)