MIRA
INFORM REPORT
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Report Date : |
14.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
KITCHEN PLANNING CO LTD |
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Registered Office : |
Fujita Bldg, 5-174 Idomaki Tsubame City Niigata-Pref 959-1232 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
March 2006 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Kitchen Utensils |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 4 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
KITCHEN PLANNING CO LTD
REGD NAME: KK Kitchen Planning
MAIN OFFICE: Fujita Bldg, 5-174
Idomaki Tsubame City Niigata-Pref 959-1232 JAPAN
Tel :
0256-66-3440
Fax : 0256-66-3441
URL: http://www.kitchenplanning.jp/
E-Mail address: information@kitchenplanning.jp
ACTIVITIES
Wholesale of kitchen utensils
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
SHOICHI MYODO, PRES
Toshio Wahei, dir
Takashi Kihara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 122 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UNDETD WORTH Yen 9 M
STARTED 2006 EMPLOYES 5
COMMENT
WHOLESALER SPECIALIZING IN KITCHEN UTENSILS.
FINANCIAL SITUATION UNDETERMINED DUE TO THE RECENT INCEPTION
BUT SHOULD
BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 4 MILLION, 30 DAYS, RECOMMENDING
SECURED TERMS ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established by Shoichi Myodo in order to make most of his experience in the subject line of business. This is a trading firm specializing in wholesaling kitchen utensils of stainless steel make. This is a place where kitchen utensils are the mainstay products. Clients include wholesalers.
FINANCIAL INFORMATION
The sales volume for the initial fiscal term ended Feb/2007amounted to Yen 122 million, with Yen 1 million net loss. This is referred to the initial costs of operations.
For the term that ended Feb 2008 the net profit is believed posted at Yen 1 million, on an 11% rise in turnover, to Yen 135 million.
Both the financial situation and business trends are not determined due to the recent inception but should be good for MODERATETE business engagements. Max credit limit is estimated at Yen 4 million, on 30 days normal terms. We recommend secured terms on new transactions.
REGISTRATION
Date Registered: Mar 2006
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Etsuko Myodo (30), Takashi Kihara (20), Susumu Fujita (15), Tomohiro Odajima (15), Tomohito Asama (10)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales stainless steel kitchen utensils
(100%).
Clients
[Wholesalers, chain stores] Odajima Co (39%), Tokyu Hands (10%), Toei Agency (5%), Magaseek Corp (5%), other.
No. of accounts
200
Domestic areas of activities
Centered in Niigata-Pref
Suppliers
[Mfrs, wholesalers] Wahei Freiz Corp (30%), Odajima Co (30%), Minex Metal (5%), Gyokusendo Co (5%), other.
Payment record
Regular
Location
Business area in Tsubame City, Niigata-Pref. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Hokuetsu Bank (Tsubame)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
28/02/2008 |
28/02/2007 |
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Annual
Sales |
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135 |
122 |
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Recur.
Profit |
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1 |
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Net
Profit |
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1 |
-1 |
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Total
Assets |
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40 |
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Current
Assets |
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37 |
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Current
Liabs |
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30 |
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Net
Worth |
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9 |
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Capital,
Paid-Up |
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10 |
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Div.P.Share(¥) |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
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S.Growth Rate |
10.66 |
- - |
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Current Ratio |
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.. |
123.33 |
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N.Worth Ratio |
.. |
22.50 |
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R.Profit/Sales |
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.. |
0.82 |
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N.Profit/Sales |
0.74 |
-0.82 |
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Notes: Financials are only partially disclosed.
The 28/02/2007 was the initial accounting term from the
inception.
Forecast (or estimated) figures for the 29/02/2008 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%)