MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL OF JAPAN LTD |
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Registered Office : |
Humax Ebisu Bldg 4F Ebisu-Minami Shibuyaku Tokyo 150-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
May 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of wines, foods |
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 58.9 MILLION |
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Status : |
Small Company |
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Payment Behaviour : |
No Company |
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Litigation : |
Clear |
name & address
ROYAL OF JAPAN LTD
REGD NAME: KK Royal of Japan
MAIN OFFICE: Humax Ebisu Bldg 4F Ebisu-Minami Shibuyaku
Tokyo 150-0022 JAPAN
Tel:
03-3715-8273 Fax: 03-3715-8299
URL: http://www.royalofjapan.co.jp/
E-Mail address: web@royalofjapan.co.jp
ACTIVITIES
Import, export, wholesale of wines, foods
BRANCHES
Nil
OFFICER(S)
KANAME MATSUZAWA, PRES
Koki Matsuzawa, s/mgn dir
Takeshi Koga, dir
Yuko Kakihara, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,584 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 406 M
STARTED 1969 EMPLOYES 10
COMMENT
IMPORTER OF WINES; EXPORTER OF JAPANESE FOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 58.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a trading division of Nippon Chemical Sales Co Ltd, wholesaler of lubricants, at the caption address. Kaname Matsuzawa is concurrently pres at the parent. This is a trading firm specializing in importing wines and exporting Japanese foodstuffs. In Jan 1996 the firm merged with Ken International Trader Inc, an alcohol importer wholly owned by Nippon Chemical Sales Co Ltd, and export division of Nippon Chemical Sales Co, and became the newly born Royal of Japan Ltd. This is a trading firm specializing in importing wines and exporting Japanese foods. Wines are imported centrally from France, Italy and Spain. Domestic clients include major department stores, food traders, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/2007 fiscal term amounted to Yen 1,584 million, a 33% up from Yen 1,195 million in the previous term. Wine imports were robust, particularly of red wines, and Japanese foods exports also increased due to healthy-reasons, as reported. The recurring profit was posted at Yen 113 million and the net profit at Yen 71 million, respectively, compared with Yen 60 million recurring profit and Yen 38 million net profit, respectively, a year ago. Higher costs of imports were absorbed by increased sales.
For the current term ending Dec 2008 the net profit is projected at Yen 73 million, on a 4% rise in turnover, to Yen 1,650 million. Wine imports will continue increasing.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 58.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1969
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major shareholders (%)
Nippon Chemicals Sales Co Ltd*(100)
* Wholesaler of lubricants, petroleum additives, at the caption address, founded 1957, capital Yen 20 million, sales Yen 3,850 million, net profit Yen 151 million, employees 10, pres Kaname Matsuzawa, concurrently
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales wines (70%); exports Japanese foods, other (--30%).
Wines are imported from France, Italy and Spain centrally.
(Japanese foods): Soy sauce, vinegar, soybean paste, curry sauce paste, Wasabi, hot pepper, seaweed, dried bonito flakes, dried shiitake mushrooms, pickled vegetables, seasoned seaweeds (canned/bottled), noodles, instant soup, easy-to-prepare sauces, rice seasoning, rice crackers, dried beans, candies, chocolates, frozen fishes, frozen processed foods, frozen sweets, Japanese sake, soft drinks, other.
Clients
[Mfrs, wholesalers, department stores] Mitsukoshi, Ryoshoku Liquor, Printemps au Ginza, Tobu Department Store, Mitsui Foods, Toei Trading, Miuraya Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Foods, Mizkan Group Honsha, Tanaka Group, S&B Foods Inc, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC Bank (Ebisu)
MUFG (Ebisu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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1,650 |
1,584 |
1,195 |
1,168 |
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Recur.
Profit |
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113 |
60 |
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Net
Profit |
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73 |
71 |
38 |
18 |
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Total
Assets |
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721 |
561 |
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Current
Assets |
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701 |
541 |
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Current
Liabs |
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314 |
212 |
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Net
Worth |
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406 |
349 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
4.17 |
32.55 |
2.31 |
28.49 |
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Current Ratio |
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.. |
223.25 |
255.19 |
.. |
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N.Worth Ratio |
.. |
56.31 |
62.21 |
.. |
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R.Profit/Sales |
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.. |
7.13 |
5.02 |
.. |
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N.Profit/Sales |
4.42 |
4.48 |
3.18 |
1.54 |
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Return On Equity |
.. |
17.49 |
10.89 |
.. |
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Notes: Forecast (or estimated) figures for the 31/12/2008
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.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)