MIRA
INFORM REPORT
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Report Date : |
28.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
LADONNA CO LTD |
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Registered Office : |
Eitai MK Bldg 2/3 F’s, 1-5-9 Saga Kotoku Tokyo 135-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
April 1951 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Picture Frames, Interior Decorative
Items |
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 55.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
LADONNA CO LTD
REGD NAME: KK Ladonna
MAIN OFFICE: Eitai MK Bldg 2/3
F’s, 1-5-9 Saga Kotoku Tokyo 135-0031 JAPAN
Tel:
03-5620-2780 Fax: 03-5620-2781
URL: http://www.ladonna.co.net
E-Mail address:sales@kadonna.co.net
ACTIVITIES
Import, wholesale of picture frames, interior decorative
items
BRANCHES
Osaka, Kawaguchi
OFFICERS
KOSUKE MATSUMOTO, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,113 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND STEADY WORTH Yen 618 M
STARTED 1951 EMPLOYES 19
COMMENT
IMPORTER
SPECIALIZING IN PICTURE FRAMES, OWNED BY KING JIM CO LTD.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US#150,000 / O/A 15
DAYS
MAX CREDIT LIMIT
YEN 55.9 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1932 by Takashi Nagashima for selling jewelry & accessories for women. Later in 1980 when Takahiko Nagashima, the second pres, took the pres office, changed the mainstay line to importing and wholesaling picture/photo frames and interior decorative items. In 2001, the firm was purchased by King Jim Co Ltd, largest mfr of filing systems & electronic stationery, Tokyo (See REGISTRATION) and became its wholly owned subsidiary. Goods are imported from Italy, China, Korea, Thailand, other. Clients include department stores, stationery stores, other, nationwide.
FINANCIAL INFORMATION
The sales volume for May/2007 fiscal term amounted to Yen 1,113 million, a 15% up from Yen 966 million in the previous term. Demand for photo frames increased with imports from China rose. The net profit was posted at Yen 120 million, up from Yen 119 million a year ago.
For the term just ended May 2008 the net profit was projected at Yen 120 million, on a 3% rise in turnover, to Yen 1,150 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 55.9 million, on 30 days normal terms. The proposed amount for 15 days terms is considered well within the firm’s financial capacities.
REGISTRATION
Date Registered: Apr 1951
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 120,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders (%)
King Jim Co Ltd*(100)
*.. Largest mfr of filing systems & electronic stationery, Tokyo, founded 1948, listed Tokyo S/E, capital Yen 1,978 million, turnover Yen 30,395 million, recurring profit Yen 1,859 million, net profit Yen 1,058 million, total assets Yen 26,896 million, net worth Yen 20,438 million, employees 1,106, pres Akira Miyamoto
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales photo frames, picture frames, digital photo players, interior frames, lighting photo frames, mini frames & frame sets, other (--100%).
Goods are imported from Italy, China, Korea, Thailand, etc.
Clients
[Department stores, chain stores] Isetan, Mitsukoshi, Takashimaya, Tokyu Hands, Passport, Maruzen Co, Loft Co, Etoile-Kaito, Akachan Honpo, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from Italy, Korea, China, Thailand, other.
Payment record: Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kanda-Ekimae)
SMBC (Asakusabashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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1,150 |
1,113 |
966 |
882 |
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Recur.
Profit |
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Net
Profit |
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120 |
120 |
119 |
124 |
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Total
Assets |
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742 |
658 |
670 |
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Current
Assets |
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708 |
626 |
640 |
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Current
Liabs |
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113 |
90 |
166 |
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Net
Worth |
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618 |
553 |
496 |
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Capital,
Paid-Up |
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15 |
15 |
15 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.32 |
15.22 |
9.52 |
16.82 |
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Current Ratio |
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.. |
626.55 |
695.56 |
385.54 |
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N.Worth Ratio |
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83.29 |
84.04 |
74.03 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
10.43 |
10.78 |
12.32 |
14.06 |
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Return On Equity |
.. |
19.42 |
21.52 |
25.00 |
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Note: Forecast (or estimated) for the 31/05/2008 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.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)