MIRA
INFORM REPORT
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Report Date : |
27.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRIME CORPORATION |
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Registered Office : |
Tokyo Intechs Bldg 1F, 4-34-8 Yayoicho Nakanoku Tokyo 164-0013 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
June 1990 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Men’s Clothing |
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 14.4 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
PRIME CORPORATION
REGD NAME: KK Prime Corporation
MAIN OFFICE: Tokyo Intechs Bldg
1F, 4-34-8 Yayoicho Nakanoku Tokyo 164-0013 JAPAN
Tel:
03-3382-5771 Fax: 03-3382-5772
URL: N/A
ACTIVITIES
Import, wholesale of men’s clothing
BRANCHES
Nil
OFFICER(S)
HIROKUNI MORITA, PRES
Hisashi Matsunoya, dir
Tomoko Morita, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 790 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 95 M
STARTED 1990 EMPLOYES 11
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN MEN’S CLOTHING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 14.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hirokuni Morita in order to make most of his experi-ence in the subject line of business. This is a trading firm specializing in importing and wholesaling men’s suits, sweaters, other clothing. Goods are imported from Europe, Hong Kong, etc. Clients are local apparel mfrs & stores.
FINANCIAL INFORMATION
The sales volume for Apr/2007 fiscal term amounted to Yen 790 million, a 36% sharp rise from Yen 580 million in the previous term. A large lot of orders received from one of major clients. The net profit increased to Yen 20 million from Yen 8 million a year ago.
For the current term ending Apr 2008 the net profit is projected at Yen 22 million, on a 5% rise in turnover, to Yen 830 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 14.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1990
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Hirokuni Morita (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales men’s suits, shirts, sweaters, other (--100%).
Clients
[Apparel mfrs, stores] Aba House International, Beams, Baycrew’s Co, other.
No. of accounts
300
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] TK 11 Ltd, Handcraft Ltd, Okimoto Co,
other.
Imports from Hong Kong, Europe, other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Saikyo Shinkin Bank (Minami-Nakano)
Resona Bank (Shintoshin)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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830 |
790 |
580 |
520 |
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Recur.
Profit |
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Net
Profit |
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22 |
20 |
8 |
6 |
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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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95 |
75 |
67 |
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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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(%) |
(%) |
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S.Growth Rate |
5.06 |
36.21 |
11.54 |
-23.53 |
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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 |
2.65 |
2.53 |
1.38 |
1.15 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2008 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%)