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MIRA
INFORM REPORT
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Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
INFORMATION SYSTEM SERVICE CO (ISS) |
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Registered Office : |
NS3 Bldg 8F, 2-51-3 Akabane Kitaku Tokyo 115-0045 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1997 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Supplier of Multi-Hardware Solutions; Sale of Used Ibm Computers and
Peripherals |
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 15.3 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
INFORMATION SYSTEM SERVICE CO (ISS)
REGD NAME: Information System
Service KK
MAIN OFFICE: NS3 Bldg 8F, 2-51-3
Akabane Kitaku Tokyo 115-0045 JAPAN
Tel:
03-3903-0111 Fax: 03-3903-1050
* The given phone number is that of the Nippon Dynet Com KK, at the same address, which the subject merged on 01/03/2008 in order to streamline operations.
E-Mail address: salesiss@isskk.com
ACTIVITIES
Supplier of multi-hardware solutions; sale of used IBM computers &
peripherals
BRANCHES
Osaka, Nagoya
OFFICER(S)
TORU NAKAGAWA, PRES
Tadashi Takahashi, dir
Tomoyuki Yoshiwara, dir
Kazuhiko Aiba, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,100 M
PAYMENTS REGULAR CAPITAL Yen 47 M
TREND STEADY WORTH Yen 88 M
STARTED 1997 EMPLOYES 30
COMMENT
PROVIDER OF MULTI-HARDWARE SOLUTIONS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 15.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Toru Nakagawa in order to make most of his experience in computer business. Started as provider of multi-hardware provider and expanded business operations including sale & maintenance of IBM mainframe computers, including sale of used IBM equipment & parts. On 01/Mar/2008 the firm absorbed a sister company, Nippon (Japan) Dynet Com KK, at the same address, in order to streamline group operations. By the merger business is expected to expand further.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 1,100 million, a 91% sharp rise from Yen 577 million in the previous term. The client networks expanded into large insurance companies. The net profit was posted at Yen 16 million, compared with Yen 5 million a year ago.
For the current term ending Mar 2008 the net profit is projected at Yen 46 million, on a 16% rise in turnover, to Yen 1,500 million. The merger will contribute to sales growth.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 15.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1997
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3,680 shares
Issued: 920 shares
Sum: Yen 47 million
Major shareholders (%)
Toru Nakagawa (30), Tomoyuki Yoshiwara (10), Kazuhiko Aiba (10)
(--Breakdown is all about)
No. of shareholders: 23
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Provider of multi-hardware solutions; sale & maintenance of IBM mainframe Computers, including used ones, & peripherals; imports and wholesales solution software, others (--100%).
(Parts & software
handled):
AB Switches; for application to fiber channel, fast Ethernet, gigabit Ethernet;
Power Control System,
Disaster Avoidance Systems, Test Access Systems;
FAX communication
encryption systems;
Terminal Adaptor, others.
Clients
[Mfrs, insurance firms, business firms] Dai-ichi Life Ins, UFJ Nicos, Asahi Life Ins,
Sumitomo Life Ins, Nipponkoa Ins, AIG, Sun Microsystems, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] IBM Japan, Support Resources, other.
Imports peripherals & solution software from: Dataprobe, Danpex Corp, Alliance Systems, Puliggi, Controlware, Market Central Inc, NSG Datacom, Data Comm for Business Inc,
Teleindust, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Akabane)
SMBC (Akabane)
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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1,500 |
1,100 |
577 |
492 |
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Recur.
Profit |
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Net
Profit |
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45 |
36 |
5 |
-6 |
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Total
Assets |
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504 |
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Current
Assets |
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352 |
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Current
Liabs |
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150 |
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Net
Worth |
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88 |
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Capital,
Paid-Up |
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47 |
47 |
47 |
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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 |
36.36 |
90.64 |
17.28 |
-0.61 |
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Current Ratio |
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234.67 |
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N.Worth Ratio |
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17.46 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
3.00 |
3.27 |
0.87 |
-1.22 |
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Return On Equity |
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40.91 |
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.. |
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Notes: 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%)