MIRA
INFORM REPORT
|
Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MIYAKO NIOS CO LTD |
|
|
|
|
Registered Office : |
2-17-15 Chigasaki-Minami Tsuzukiku Yokohama 224-0037 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
January 1984 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Wholesale of Fragrant Ingredients |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
YEN 6.0 Million |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
MIYAKO NIOS CO LTD
REGD NAME: KK Miyako Nios
MAIN OFFICE: 2-17-15 Chigasaki-Minami Tsuzukiku Yokohama
224-0037 JAPAN
Tel:
045-949-8801 Fax: 045-949-8803
* The given
address is its Tokyo Office
URL: http://www.miyako-nios.com/
E-Mail address:info@miyako-nios.com
ACTIVITIES
Import, wholesale of fragrant ingredients
BRANCHES
Tokyo
OFFICER(S)
KIYOSHYI MIYAZAKI, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 330 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UP WORTH Yen 26 M
STARTED 1984 EMPLOYES 3
COMMENT
IMPORTER OF FLAVORING INGREDIENTS..
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 6.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kiyoshi Miyazaki in order to make most of his previous experience when he was with German company dealing with spices. In 1983 obtained agency agreement from SIMA France, which later was purchased by Danisco, Denmark and the agency agreement continued. In 2007 moved the head office to the caption address. This is a trading firm specializing in syrups, flavoring ingredients, other. Goods are imported from Europe centrally and shipped to fragrance makers.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2007 fiscal term amounted to Yen 330 million, a 26% hike from Yen 260 million in the previous term. Sparkling wines rose. The net profit remained similar at Yen 1 million.
For the current term ending Dec 2008 the net profit is projected at Yen 1 million, on a 3% rise in turnover, to Yen 340 million.
The financial situation is considered RATHER WEASK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 6.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1984
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Kiyoshi Miyazaki (100)
Nothing detrimental is known as to ^the commercial morality of executives.
OPERATION
Activities: Imports and wholesales frozen berries, berry jam, sparkling wines, birch sap, other (--100%).
Clients
[Fragrance mfrs] T Hasegawa Co Ltd, Takasago International Corp, S & B Foods Inc, other.
No. of accounts: 500
Domestic areas of activities: Centered in grearter-Tokyo
Suppliers
[Mfrs, wholesalers] Nihon Firmenish, other.
Imports from Finland, Denmark, other.
Payment record
Regular
Location
Business area in Yokohama. Office premises at the caption address are leasee and maintained satisfactorily.
Bank References
MUFG (Setagaya)
Relations: Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
|
31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
|
Annual
Sales |
|
340 |
330 |
260 |
250 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
1 |
1 |
1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
26 |
25 |
24 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.03 |
26.92 |
4.00 |
-10.71 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.29 |
0.30 |
0.38 |
0.40 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2008 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
|
UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.39 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)