MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
ROYAL PRODUCTS INC |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
July 1971 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Stainless Steel Cookware |
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 14.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name & address
ROYAL PRODUCTS INC
REGD NAME: KK Royal Products
MAIN OFFICE:
Tel: 03-3463-0210 Fax: 03-3463-4786
URL: http://www.royalproducts.co.jp
E-Mail address: info@royalproducts.co.jp
ACTIVITIES
Import, wholesale of stainless steel cookware
BRANCHES
Nil
OFFICERS
TAKASHI YOSHIDA, PRES
Kaoru Idogaki, mgn dir
Yen
Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 810 M
PAYMENTS REGULAR CAPITAL Yen 62 M
TREND STEADY WORTH Yen 144 M
STARTED 1971 EMPLOYES 15
COMMENT
IMPORTER SPECIALIZING IN STAINLESS STEEL COOKWARE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 14.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Takashi Yoshida
originally in 1960, on own account, in order to make most of his experience in
the subject line of business. This is a
trading house for importing and franchise distributor of Royal Queen cookware,
their attachments & accessories.
Also handles detergent and other household goods. Goods are imported from
FINANCIAL INFORMATION
The sales volume for Jun/2008 fiscal term were projected at
Yen 810 million, a 1% up from Yen 800 million in the previous term. Consumer spending recovered. The quality of the cookware was re-reviewed. Cooking classes operated also contributed to
the sales growth, although this business is under harsh competition among the
trade with similar cooking ware selling online.
The net profit is believed posted at Yen 5 million, up from Yen 4
million a year ago. Final results are
yet to be released.
For the current term ending Jun 2009 the net profit is
projected at Yen 5 million, on a similar turnover, at Yen 810 million. Business is seen steady. Higher Yen may increase imports.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 14.2 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jul 1971
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
499,200 shares
Issued:
124,800 shares
Sum: Yen 62.4 million
Major shareholders (%): Takashi Yoshida (majority
owned)
No. of
shareholders: 6
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales Royal Queen
stainless steel cookware, their attachments & accessories, detergent, other
(--100%).
Goods are imported from
Goods are sold online, too. Holds cooking classes, including online
classes.
Clients
[Specialty stores, wholesalers,
consumers] Royal Queen, IPS, Easy wares, Sanyo Color Photo, KK Bridge, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs] Regal Ware
Inc, Bon Amie, other.
Payment
record: Regular
Location:
Business area in
Bank References
Kosan Shinkin Bank (Shibuya)
SMBC (Shibuya)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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810 |
800 |
810 |
793 |
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Recur.
Profit |
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Net
Profit |
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5 |
4 |
5 |
4 |
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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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139 |
135 |
130 |
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Capital,
Paid-Up |
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62 |
62 |
62 |
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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 |
1.25 |
-1.23 |
2.14 |
-0.88 |
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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 |
0.62 |
0.50 |
0.62 |
0.50 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 30/06/2008 fiscal
term. Final figures are yet to be
released.
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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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%)