MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HARUTA FLOWER CO LTD |
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Registered Office : |
1951 Fujiwara Munakata City Fukuoka-Pref 811-4154 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
June 2000 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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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 30.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
HARUTA FLOWER CO LTD
REGD NAME: YK Haruta Flower
MAIN OFFICE: 1951 Fujiwara
Munakata City Fukuoka-Pref 811-4154 JAPAN
Tel:
0940-33-1035 Fax: 0940-32-6642
URL: http://www.haruta-ocd.co.jp
E-Mail address: info@haruta-ocd.co.jp
ACTIVITIES
Import, wholesale of cut flowers
BRANCHES
Nil
OFFICERS
HIDEO HARUTA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,960 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND UP WORTH Yen 10 M
STARTED 2000 EMPLOYES 8
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN CUT FLOWERS & SEEDINGS.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 30.7 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Hideo Haruta originally in 1955 for importing cut flowers, on his account. Incorporated in 2000, import sources have expanded to include China, Ecuador, Columbia, New Zealand, Thailand, Malaysia, Indonesia, etc. Clients are flower markets, flower shops, others, centering in Kyushu and greater-Osaka areas. Also exports flowers from Japan.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2007 fiscal term amounted to Yen 1,960 million, a 24% up from Yen 1,576 million in the previous term. This is thanks to the addition of a new flower market handling a large lot of orchid. The operations, on the other hand, plunged into the red to post Yen 5 million net losses for the term, compared with Yen 10 million net profit a year ago.
For the term just ended May 2008 the operations were projected to come back to profitability to post Yen 5 million net profit, on a 7% rise in turnover, to Yen 2,100 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 30.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 2000
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 3 million
Major shareholders (%)
Hideo Haruta (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales all varieties of cut flowers, orchid seedlings, bog moss, others (--100%). Also exports Japanese flowers.
Clients
Local flower markets, florists, wholesalers, other
No. of accounts
500
Domestic areas of activities
Centered in Kyushu & greater-Osaka areas.
Suppliers
[Growers, wholesalers] Imports from Taiwan, Thailand, Malaysia, China, Korea, Australia, Ecuador, Columbia, Singapore, Taiwan, New Zealand, other.
Payment record
Regular
Location
Business area in Munakata City, Fukuoka-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Bank of Fukuoka (Munakata)
MUFG (Fukuoka)
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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2,100 |
1,960 |
1,576 |
1,166 |
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Recur.
Profit |
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Net
Profit |
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5 |
-5 |
10 |
-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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10 |
15 |
3 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
7.14 |
24.37 |
35.16 |
0.43 |
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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 |
0.24 |
-0.26 |
0.63 |
-0.17 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) 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%)