MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
KEI INTERNATIONAL LTD |
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Registered Office : |
#304, 4-14-4 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
March 1984 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Jewelry processor |
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 2.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
KEI INTERNATIONAL LTD
REGD NAME: YK Kei International
MAIN OFFICE: #304, 4-14-4 Ginza
Chuoku Tokyo 104-0061 JAPAN
Tel:
03-5817-3280 Fax: 03-5310-1604
*.. The
given address is its Branch Office for jewelry wholesaling and retailing
URL: N/A
ACTIVITIES
Jewelry processor
BRANCHES
Taitoku (Tokyo), at the given address
FACTORY(IES)
At the caption address & subcontracted
OFFICERS
SEIICHI MIYAHARA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 150 M
PAYMENTS REGULAR CAPITAL Yen 5 M
TREND STEADY WORTH Yen 33 M
STARTED 1984 EMPLOYES 5
COMMENT
JEWELRY
PROCESSOR.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$35,000 / O/A 120 DAYS.
MAX CREDIT LIMIT
YEN 2.7 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Seiichi Miyahara in order to make most of his experience in the subject line of business. Specializes in processing jewelry and wholesaling them. Precious stones and jewelry are all imported by a group company, Jewel Aki Co Ltd, Tokyo, concurrently owned & managed by S Miyahara (See REGISTRATION for details). S Miyahara holds patent for thin film coating method on fingerings and glass frames.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for 31/03/2007 fiscal term amounted to Yen 150 million, a 6% down from Yen 160 million in the previous term. The net profit is estimated posted at Yen 2 million. The firm does not officially disclose the profits. Consumer spending remained slow to recover for luxury goods.
For the ended Mar 2008 the net profit was projected at Yen 3 million, on a 7% rise in turnover, to Yen 160 million. Business is seen steadily expanding. Weaker Yen should have contributed to sales growth in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 2.7 million, on 30 days normal terms. The proposed amount for 120 days is considered within the firm’s financial capabilities.
REGISTRATION
Date Registered: Mar 1984
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 5 million
Major shareholders (%): Seiichi Miyahara*(100)
*.. Separately owns Jewel Aki Co Ltd, registered & operated at the home address of S Miyahara, Tokyo, founded 1997, capital Yen 11 million, turnover Yen 150 million, employees 1, importer of precious stones & jewelry for exclusive supply to the subject, which concurrently owned and managed by Seiichi Miyahara. All business correspondence, mails, packages, etc to this firm are addressed to the caption address.
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Processor of precious stones into jewelry products, imported by a group firm Jewel Aki Co Ltd (--100%).
Clients
[Mfrs, wholesalers] Hoya Corp, other.
No. of accounts
200
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Wholesaler] imported wholly by Jewel Aki Co Ltd, its group firm.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Ueno)
MUFG (Ueno)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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160 |
150 |
160 |
150 |
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Recur.
Profit |
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Net
Profit |
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3 |
2 |
3 |
2 |
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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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33 |
31 |
28 |
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Capital,
Paid-Up |
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5 |
5 |
5 |
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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 |
6.67 |
-6.25 |
6.67 |
-6.25 |
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Current Ratio |
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.. |
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.. |
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N.Worth Ratio |
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.. |
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.. |
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N.Profit/Sales |
1.88 |
1.33 |
1.88 |
1.33 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) 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%)