MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PONTE VECCHIO HOTTA CORPORATION |
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Registered Office : |
Fukide Bldg 3F, 4-1-13 Toranomon Minatoku Tokyo 105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1981 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Retail of Jewelry, Watches, Art Crafts |
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 146.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
PONTE VECCHIO HOTTA CORPORATION
REGD NAME: KK Ponte Vecchio Hotta
MAIN OFFICE: Fukide Bldg 3F,
4-1-13 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel :
03-3597-0866
Fax :
03-3597-9110
URL: http://www.pontevecchio.co.jp/
E-Mail address: info@pontevecchio.co.jp
ACTIVITIES
Import, retail of jewelry, watches, art crafts
STORES
Tokyo (9), Yokohama, Nagoya, Kyoto, Osaka, Hiroshima,
Fukuoka, other (Tot 26)
OFFICER(S)
YUKIO HOTTA, PRES
Masayuki Shinohara, v pres
Masayasu Ashizaki, mgn dir
Koichi Fukazawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,661 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen 2,133 M
STARTED 1981 EMPLOYES 240
COMMENT
IMPORTER AND RETAILER SPECIALIZING IN JEWELRY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$86,000 / O/A 30
DAYS.
MAX CREDIT LIMIT
YEN 146.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Yukio Hotta in order to make most of his experience in the subject line of business. A trading firm specializing in importing jewelry from Ponte Vecchio, Milan. Operates a chain of 26 stores nationwide for retailing jewelry, watches, art crafts, other. New openings are reported. In addition to Ponte Vecchio products, handles Pasquale Bruni products. All stores are located in major hotels and department stores.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 5,661 million, a 4% down from Yen 5,868 million in the previous term, affected by slumping consumer spending. The net profit was posted at Yen 128 million, down from Yen 205 million a year ago.
For the current term ending Mar 2008 the net profit is projected at Yen 125 million, on a slight rise in turnover, to Yen 5,700 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 146.7 million, on 30 days normal terms. The proposed amount is considered well within the firm’s financial capabilities.
REGISTRATION
Date Registered: Apr 1981
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major shareholders (%)
Yukio Hotta (74), Kiyomi Hotta (13), Koichi Hotta (7), Treasury Stock (5), Kohei Hotta (1)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports and retails jewelry, watches, others of Ponte Vecchio & Pasquale
Bruni brand products (--Italy) (--100%).
Operates
26 chain stores centrally in Tokyo, covering nationwide areas down to
Kyushu. Goods are also sold online.
Clients
Consumers
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
[Mfrs] Ponte
Vecchio, Pasquale Bruni, other (--Italy).
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
MUFG (Tokyo)
Mizuho Bank (Ueno-Chuo)
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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5,700 |
5,661 |
5,868 |
741 |
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Recur.
Profit |
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Net
Profit |
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125 |
128 |
205 |
16 |
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Total
Assets |
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4,836 |
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Current
Assets |
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2,543 |
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Current
Liabs |
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1,836 |
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Net
Worth |
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2,133 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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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S.Growth Rate |
0.69 |
-3.53 |
25.86 |
-14.20 |
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Current Ratio |
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138.51 |
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.. |
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N.Worth Ratio |
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44.11 |
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.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
2.19 |
2.26 |
3.49 |
2.16 |
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Return On Equity |
.. |
6.00 |
.. |
.. |
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Notes: The 31/03/2005 fiscal term is for 2 months due to
change in accounting term to Apr/Mar from the
previous Jan/Dec. The growth rate is
adjusted on a 12-month basis.
Forecast (or estimated) figures for the 31/03/2008 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%)