MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEIKO SHOKAI CO LTD |
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Registered Office : |
1-4-8 Midorigaoka Kofu Yamanashi-Pref 400-0008 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
October 2002 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, Wholesale of Jewelry |
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 1.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SEIKO SHOKAI CO LTD
REGD NAME: Seiko Shokai YK
MAIN OFFICE: 1-4-8 Midorigaoka
Kofu Yamanashi-Pref 400-0008 JAPAN
Tel: 055-252-1771
Fax: 055-252-1772
URL: N/A
ACTIVITIES
Import, wholesale of jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
YOSHIYUKI KUBODERA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 75 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 14 M
STARTED 2002 EMPLOYES 3
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN JEWELRY.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR MODERATE BUSINESS ENGAGEMENTS AND
CREDIT ENGAGEMENTS: US$16,000 / D/A 120 DAYS.
MAX CREDIT LIMIT
YEN 1.5 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1972 and was incorporated in 2002. This is a family-based trader, operating from the home residence, specializing in importing and wholesaling jewelry. Handles colored stones such as ruby, sapphire, etc and products. Goods are imported and partially subcontracted mfg to local jewelry processors into products.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The
sales volume for Sept/2007 fiscal term amounted to Yen 75 million, a 6% down
from Yen 80 million in the previous term.
Business is slow with consumer spending not fully recovered. The net profit was posted at Yen 2 million,
down from Yen 3 million a year ago.
For
the current term ending Sept 2008 the net profit is projected at Yen 3 million,
on a 7% rise in turnover, to Yen 80 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. The proposed
amount for 120 days terms is considered within the firm’s financial
capabilities. Max credit limit is
estimated at Yen 1.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
2002
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: Yen
3 million
Major shareholders (%)
Yoshiyuki Kubodera (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales jewelry (100%): sapphire, ruby and other colored stones and jewelry products. Stones are partially subcontracted mfg into products at local jewelry processors.
Clients
Jewelry processors, jewelry stores, chain stores, other.
No. of accounts
50
Domestic areas of activities
Centered in greater-Tokyo & Kansai.
Suppliers
Mfrs, jewelry processors, other.
Payment record
Regular
Location
Business area in Kofu City. Office premises at the caption address are owned by Y Kubodera as his private residence and maintained satisfactorily.
Bank References
Kofu Shinkin Bank (H/O)
Resona Bank (Kofu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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80 |
75 |
80 |
80 |
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Recur.
Profit |
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Net
Profit |
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3 |
2 |
3 |
3 |
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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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14 |
12 |
9 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
0.00 |
-11.11 |
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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 |
3.75 |
2.67 |
3.75 |
3.75 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 30/09/2008 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%)