MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SWALLOW
TRADING CO LTD |
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Registered Office : |
Swallow Tower Bldg 2F, 2-13-5 Kuramae Taitoku |
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Country : |
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Financials (as on) : |
31.05.2008 |
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Date of Incorporation : |
February 1964 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Ski, Snowboards, Other |
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 33.3 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name & address
SWALLOW TRADING CO
LTD
REGD NAME: Swallow Trading KK
MAIN OFFICE: Swallow Tower Bldg 2F, 2-13-5 Kuramae Taitoku
Tokyo 111-0051 JAPAN
Tel: 03-3863-3377 Fax: 03-3861-5537
URL: N/A
ACTIVITIES
Import, export, wholesale of ski, snowboards, other
BRANCHES
Nil
OFFICER(S)
Tetsuzo Maruyama, ch
SATOSHI MARUYAMA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,800 M
PAYMENTS REGULAR CAPITAL Yen
100 M
TREND SLOW WORTH Yen 276 M
STARTED 1964 EMPLOYES 10
COMMENT
TRADING FIRM SPECIALIZING IN SKIS & SNOWBOARDS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 33.3 MILLION, 30 DAYS NORMAL TERM
HIGHLIGHTS
The subject company was established on the basis of a trading
division separated from YK Swallow Sports Supply, sports goods wholesaler,
based in Nagano-Pref. Both Tetsuzo and
Satoshi (Tetsuzo’s son) serve as ch & pres, concurrently, for the two
firms. This is a trading firm, owned by
the Maruyama family, for import and export of skis, ski goods, snowboards, and
other winter sports outfits. Goods are
imported from and exported to China centrally, where the firm has subcontracted
mfrs.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for May/2008 fiscal term amounted to Yen
1,800 million, a sharp 27% down from Yen 2,450 million in the previous
term. Last year there were winter sports
events in Japan and demand sharply rose, according to the firm. The net profit was posted at Yen 5 million,
compared with Yen 15 million a year ago.
.
For the current term ending May 2009 the net profit is
projected at Yen 5million, on a 6% rise in turnover, to Yen 1,900 million. Demand is not expected to rise for some time,
the firm says.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements. Max credit limit is estimated at Yen 33.3
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Feb 1964
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%): Satoshi Maruyama (31), Tetsuzo
Maruyama (25), Maruei Sangyo (10)
No. of
shareholders: 20
* YK Swallow Sports Supply, wholesaler of winter sports goods, based in Nagano-Pref, founded 1954, capital Yen 3 million, sales Yen 1,390 million, net profits Yen 13 million, employees 21, ch Tetsuzo Maruyama & pres Satoshi Maruyama, concurrently
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales skis,
ski outfits, snowboards, other winter sports goods & outfits (--100%).
40% of the goods are imported from and exported to
Clients
[Sports goods stores,
wholesalers] Dalian Swallow Sports (China) (40%), Swallow Sports Supply (20%),
Swallow Ski (20%), other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Dalian Swallow
Sports (China) (40%), Swallow Ski (40%), Swallow Sports Supply, Maruei Sangyo,
other.
Payment
record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References
Hachijuni Bank (Tokyo)
Mizuho Bank (Asakusa)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/05/2009 |
31/05/2008 |
31/05/2007 |
31/05/2006 |
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Annual
Sales |
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1,900 |
1,800 |
2,450 |
2,150 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
15 |
10 |
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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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276 |
271 |
256 |
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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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25.00 |
25.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.56 |
-26.53 |
13.95 |
2.38 |
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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 |
0.26 |
0.28 |
0.61 |
0.47 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/05/2009 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.49.95 |
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UK Pound |
1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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%)