MIRA
INFORM REPORT
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Report Date : |
07.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIKI CORPORATION |
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Registered Office : |
Osaka Ekimae Daini Bldg 800, 1-2-2 Umeda Kitaku Osaka 530-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
January 1966 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Health Foods, Cosmetics, Toiletries |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 1,627.5 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
MIKI CORPORATION
REGD NAME: Miki Shoji KK
MAIN OFFICE: Osaka Ekimae Daini
Bldg 800, 1-2-2 Umeda Kitaku Osaka 530-0001 JAPAN
Tel:
06-6345-6411 Fax: 06-6345-6416
URL: http://www.mikiprune.co.jp/
E-Mail address: info@mikiprune.co.jp
ACTIVITIES
Wholesale of health foods, cosmetics, toiletries
BRANCHES
Tokyo, Sapporo, Morioka, Koriyama, Saitama, Yokohama,
Hiroshima, Shizuoka, Nagoya, Fukuoka
FACTORY(IES)
Nishinomiya, Kinugawa, Sannan (Hyogo) (--affiliated)
OFFICER(S)
TOSHIKAZU KADOTA, PRES
Eiji Sawai, s/mg dir
Mitsuru Hamaishi, s/mgn dir
Keiji Kishida, mgn dir
Yasuko Kadota, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 90,000 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND STEADY WORTH Yen 4,860 M
STARTED 1966 EMPLOYES 285
COMMENT
WHOLESALER SPECIALIZING IN HEALTH FOODS AND COSMETICS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,627.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of K Kadota in order to make most of his experience in the subject line of business. Started originally for selling textile products. Started to mfr and sell cosmetics and health foods in 1977. The textile division was transferred in 1975 to a subsidiary, Miki Textile Co Ltd. Two subsidiaries work as mfg divisions. Specializes in wholesaling health foods, cosmetics, detergent, toiletries, other. Has subsidiary, Miki Foods Co Ltd & Associates in USA, Germany, France, Italy, other. Products are distributed nationwide through about 2,600 dealerships over the country.
FINANCIAL INFORMATION
Financials are only partially disclosed as this is a family-based company.
The sales volume for Jan/2007 fiscal term is estimated amounted to Yen 90,000 million, a 4% up from Yen 86,430 million in the previous term. Prune extracts and newly developed health foods contributed. The net profit is believed posted at Yen 300 million, up from Yen 285 million a year ago.
For the term that ended Jan 2008 the net profit was projected and believed posted at Yen 310 million, on a 3% rise in turnover, to Yen 93,000 million.
The financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements. Max credit limit is estimated at Yen 1,627.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1966
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 120,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%)
Kazushige Kadota (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, manufactures and wholesales foodstuffs,
cosmetics, toiletries, detergent, other
(--100%).
Products: prune extracts known as “MIKI PRUNE”; cosmetics;
dish detergent, laundry deter- gent,
medicated bath pack, other.
Clients
Marketed through 2,600
dealership all over Japan
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports through Miki Foods Ltd & Associates in USA, Germany, France, Italy, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Osaka-Chuo)
SMBC (Umeda)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual
Sales |
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93,000 |
90,000 |
86,430 |
90,850 |
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Recur.
Profit |
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Net
Profit |
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310 |
300 |
285 |
300 |
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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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4,860 |
4,560 |
4,275 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.33 |
4.13 |
-4.87 |
-2.70 |
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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 |
0.33 |
0.33 |
0.33 |
0.33 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2008 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%)