MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HASCO INTERNATIONAL INC |
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Registered Office : |
2-5-4 Dogashiba Tennojiku Osaka 543-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
August 1981 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Snowboards, Surfboards, Skateboards,
Sports Wear, Shoes |
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 8.1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
HASCO
INTERNATIONAL INC
REGD NAME: Hasco International KK
MAIN OFFICE: 2-5-4 Dogashiba Tennojiku Osaka 543-0033
Tel:
06-4305-2221 Fax: 06-4305-2444
URL: http://hasco.co.jp
(of the parent, Hasco Enterprises Inc)
ACTIVITIES
Import, wholesale of snowboards, surfboards, skateboards,
sports wear, shoes
BRANCHES
Nil
OFFICER(S)
MINORU HASE, PRES
Masako Hase, dir
Susumu Hase, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 48 M
STARTED 1981 EMPLOYES 3
COMMENT
TRADING FIRM SPECIALIZING IN SPORTS GOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 8.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established on the basis of trading division separated from
Hasco Enterprises Inc, a wholesaler of sporting goods, at the caption address
(See REGISTRATION). Minoru Hase is concurrently pres at the
parent. This is a trading firm for
import and wholesale of snowboards, surfboards, skateboards, sports wear,
shoes, other. 95% of the goods are
shipped to the parent, Hasco Enterprises Inc.
FINANCIAL INFORMATION
The
sales volume for Mar/2008 fiscal term amounted to Yen 450 million, an 8% down
from Yen 490 million in the previous term.
Slumping consumer spending hurt the sales. The net profit was posted at Yen 3 million, compared with Yen 1
million a year ago. This is said to be
the result of Inventory revaluation.
For
the current term ending Mar 2009 the net profit is projected at Yen 3million,
on a 4% rise in turnover, to Yen 470 million.
The
financial situation is considered maintained FAIR and good for ODINARY business
engagements. Max credit limit is estimated at Yen 8.1 million, on 30 days
normal terms.
REGISTRATION
Date Registered: Aug
1981
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%)
Minoru Hase (85), Masako Hase (15)
No. of
shareholders: 2
* Hasco Enterprises Inc,
wholesaler of sports goods, at the caption address, founded 1973, capital Yen
20 million, sales Yen 760 million, net profit Yen 6 million, employees 18, pres
Minoru Hase, concurrently, who owns 63% of the corporate share.
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales snowboards,
surfboards, skateboards, sports wear & shoes, archery, darts, other
(--100%).
95% of the goods are shipped to
the parent, Hasco Enterprises Inc.
Clients
[Wholesaler] Hasco Enterprises
Inc (95%), other
No. of accounts: Limited
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Imports
& supplied from Easton Sports, Powell, Rohm, Whit, NHS, Unicorn, other.
Payment
record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are owned by the parent, Hasco Enterprises Inc, and maintained
satisfactorily.
Bank References
Resona Bank (Tsuruhashi)
SMBC (Fukaebashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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470 |
450 |
490 |
600 |
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Recur.
Profit |
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Net
Profit |
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3 |
3 |
1 |
5 |
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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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48 |
45 |
44 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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50.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.44 |
-8.16 |
-18.33 |
-20.00 |
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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 |
0.64 |
0.67 |
0.20 |
0.83 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2009 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
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%)