MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
WESCO CO INC |
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Registered Office : |
General Bldg 3F, 1-1-11 Takasago Chuoku |
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Country : |
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Financials (as on) : |
29.02.2008 |
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Date of Incorporation : |
August 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Cooking Utensils, Water Evaporators |
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 10.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
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name & address
WESCO CO INC
REGD NAME: Wesco KK
MAIN OFFICE: General Bldg 3F,
1-1-11 Takasago Chuoku
Tel: 092-533-1234 Fax: 092-533-1188
URL: http://www.wesco-inc.co.jp/
E-Mail address: wesco@k9.dion.ne.jp
ACTIVITIES
Import, wholesale of cooking utensils, water evaporators
BRANCHES
OFFICERS
TETSUJI YAMAMOTO, PRES
Eitaro Yamamoto, dir
Yoshinobu Yamamoto, dir
Yen
Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 650 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 40 M
STARTED 2001 EMPLOYES 150
COMMENT
IMPORTER SPECIALIZING IN COOKWARE.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 10.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was
established originally in 1970 by Eitaro Yamamoto, on his account, and was
incorporated in 2001, when was succeeded by his son, Tetsuji Yamamoto. The firm, owned and operated solely by the
Yamamoto family, specializes in importing cookware and water purifying
equipment. Goods are imported from West
Bend Houseware LLC,
FINANCIAL INFORMATION
The sales volume for Feb/2008 fiscal term amounted to Yen
650 million, a drastically 19% down from Yen 800 million in the previous term. Competition is getting harder by the sales of
similar products, at competitively lower prices. Similar pans frequently appear on TV. The net profit was posted at Yen 4 million,
down from Yen 5 million a year ago.
For the current term ending Feb 2009 the net profit is
projected at Yen 5 million, on an 8% recovery in turnover, to Yen 700
million. Higher Yen against US Dollars
may increase imports at lower Yen prices.
Competition, however, still continues harder.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 10.3 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Aug 2001
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Tetsuji Yamamoto (60), and
families (--40)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales (including online sales) water purifying systems, evaporators, cooking ware branded “ANKOR”, and small kitchen appliances (--100%).
Goods are imported from West Bend Houseware LLC,
Operates cooking classes online, too.
(Items Handled): beverage makers, coffee makers, bread makers, electronic timers, popcorn poppers, skillets, griddles & grills, slow cookers & crockery cookers, toasters & ovens, other.
Clients
Agent dealers, direct-run & group stores,
individual consumers, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide (including online
sales)
Suppliers
[Mfr] Imports from
Payment
record: Regular
Location:
Business area in
Bank References
Bank of
Nishi-Nippon City Bank (Sumiyoshi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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28/02/2009 |
29/02/2008 |
28/02/2007 |
28/02/2006 |
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Annual
Sales |
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700 |
650 |
800 |
813 |
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Recur.
Profit |
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Net
Profit |
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5 |
4 |
5 |
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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40 |
36 |
31 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.69 |
-18.75 |
-1.60 |
-17.04 |
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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 |
0.71 |
0.62 |
0.63 |
0.62 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 28/02/2009 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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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%)