MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRESH FLOWERS INC |
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Registered Office : |
Nihon Kodokai Bldg 5F, 3-1-6 Nishi-Kanda Chiyodaku Tokyo 101-0065 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
January 2005 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Cut Flowers |
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 74.6 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
FRESH FLOWERS INC
REGD NAME: KK Fresh Flowers
MAIN OFFICE: Nihon Kodokai Bldg
5F, 3-1-6 Nishi-Kanda Chiyodaku Tokyo 101-0065 JAPAN
Tel:
03-3234-7171 Fax: 03-3234-7122
* The given
address is that of KK Allied from which the subject bought the business rights
in Apr 2006.
URL: http://www.fresh-flowers.co.jp/
E-Mail address: info@fresh-flowers.co.jp
ACTIVITIES
Import, wholesale of cut flowers
BRANCHES
Tokyo (8) (retail shop); Chiba (workshop)
FACTORY(IES)
Chiba (sorting/processing)
OFFICER(S)
YOSHIYASU HARUYAMA, PRES
Akihiro Shimoto, dir
Yasuo Suzuki, dir
Yoki Kosaka, dir
Hiroshi Kaminaga, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 1,961 M
PAYMENTS REGULAR CAPITAL Yen 534 M
TREND UNDETD WORTH Yen 426 M
STARTED 2005 EMPLOYES 49
COMMENT
IMPORTER OF CUT FLOWERS.
FINANCIAL SITUATION UNDETERMINED DUE TO THE RECENT INCEPTION
BUT SHOULD
BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 74.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yoshiyasu Haruyama in order to make most of his experience in the subject line of business. This is an importer of cut flowers. Flowers are both wholesaled and retailed. In Apr 2006, transferred business rights from KK Allied (where the given address is located), Flower Season KK and Florist Tokyo. Operates 8 retail stores in the greater-Tokyo region. Operates a warehouse in Narita where goods are sorted, processed, etc.
FINANCIAL INFORMATION
The sales volume for Mar.2007 fiscal term amounted to Yen 1,960 million, the first revenues from the inception of the firm. The operations continued in the red to write off initial investment costs & charged, and posted Yen 283 million net losses for the term.
For the term that ended Mar 2008 the operations were projected to come back to profitability and believed posted Yen 10 million net profits, on a 17% rise in turnover, to Yen 2,300 million. Final results are yet to be disclosed.
Both the financial situation and business trends are not determined due to the recent inception but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 74.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 2005
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 27,000 shares
Issued: 10,680 shares
Sum: Yen 534 million
Major shareholders (%)
Fresh System, Jafco, Toyo Wharf, Dole, Sumitomo Corp, KI Fresh Access, Nissay Capital, other (--breakdown not available)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales and retails cut flowers
(--100%).
Operates 8 retail stores in the greater-Tokyo region.
Clients
[Flower market, supermarkets,
convenience stores] Ohta Kaki, Higashinippon Itabashi Kaki, Flenet HIBIYA Ohta,
Aeon Corp, Cainz, Seiyu, Marubeni Corp, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Growers, wholesales] Uniflora Overseas,
Oriental Bloom, Pacific Flora, Ohta Kaki, Orchid Station, other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC (Koishikawa)
Mizuho Bank (Koenji)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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2,300 |
1,961 |
0 |
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Recur.
Profit |
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Net
Profit |
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10 |
-283 |
-2 |
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Total
Assets |
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766 |
640 |
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Current
Assets |
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499 |
637 |
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Current
Liabs |
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242 |
180 |
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Net
Worth |
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426 |
337 |
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Capital,
Paid-Up |
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534 |
340 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
17.29 |
- - |
.. |
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Current Ratio |
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206.20 |
353.89 |
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N.Worth Ratio |
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55.61 |
52.66 |
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R.Profit/Sales |
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.. |
.. |
.. |
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N.Profit/Sales |
0.43 |
-14.43 |
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Notes: The 31/03/2006 term is the initial accounting term
from the inception.
Forecast (or estimated) figures for the 31/03/2008 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%)