MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LONG SLOW DISTANCE, KK |
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Registered Office : |
4-8-7 Shimoitozu Kokura-Kitaku Kitakyushu Fukuoka-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
September 1980 |
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Com. Reg. No.: |
2908-01-003996 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Operation of Photo Shops; Real State Investment and
Advisor |
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 5.4 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
LONG SLOW
DISTANCE, KK
REGD NAME: KK Long Slow Distance
MAIN OFFICE: 4-8-7 Shimoitozu Kokura-Kitaku Kitakyushu
Fukuoka-Pref JAPAN
Tel:
093-581-3033 Fax: 093-591-3545
URL: Nil
ACTIVITIES
Operation of photo shops; real state investment &
advisor
BRANCHES
Nil
OFFICER(S)
KIYOMI FUJISHIMA, PRES
Yukimi Fujishima, dir
Mitsusato Kiyama, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 290 M*
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 52 M*
STARTED 1998 EMPLOYES 5
* Figures are of the parent, YK Whistle Foods, as the financials are consolidated by the parent and the individual financials are not disclosed
COMMENT
PHOTO SHOP OPERATOR & REAL STATE INVESTMENT/ADVISOR, WHOLLYOWNED BY YK WHISTLE FOODS, AT THE CAPTION ADDRESS. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 5.4 MILLION, 30 DAYS, RECOMMENDING ALL & ANY CREDITS TO BE GUARANTEED BY THE PARENT, YK WHISLE FOODS.
HIGHLIGHTS
The subject company was established by YK Whistle Foods, fast food chain operator at the caption address, in order to advance into photo shop operation. Later started real estate investment & advisory business. Kiyomi Fujishima is concurrently pres and the owner of the parent. The management & operations are fully integrated with the parent, with staff overlapping.
FINANCIAL INFORMATION
Financials are not disclosed as they are consolidated by the parent, YK Whistle Foods, of which financials are as attached, and the following figures are of the parent.
The sales volume for Dec/2007 fiscal term amounted to Yen 290 million, a 3% down from Yen 300 million in the previous term. The net profit was posted at Yen 3 million, similarly in the previous term. The real estate market was slow to recover, according to the firm.
For the current term ending Dec 2008 the net profit is projected mark time at Yen 3 million, on a 3% recovery in turnover, to Yen 300 million. Some recovery is seen in the food/real state markets, again according to the firm.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 5.4 million, basis 30 days. All & any credits are recommended with guarantee from the parent, YK Whistle Foods.
REGISTRATION
Date Registered: Sept 1980
Regd No: (Fukuoka) 2908-01-003996
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Kiyomi Fujishima*(100)
* Concurrently pres of the parent, YK Whistle Foods
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Photo shop operator; real estate investment/broking/advisor; non-life insurance broking (--100%).
Clients
Individual customers, business firms, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in Fukuoka-Pref
Suppliers
Individual customers, investors, other
Payment record: Regular
Location
Business area in Kitakyushu City, Fukuoka-Pref. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Nishinippon City Bank (Kitakyushu)
Fukuoka Hibiki Shinkin Bank (Itozu)
Relations: Satisfactory
FINANCES: (In Million Yen)
Consolidated
Financials of the parent, YK Whistle Foods
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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300 |
290 |
300 |
280 |
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Recur.
Profit |
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Net
Profit |
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3 |
3 |
3 |
2 |
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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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52 |
49 |
47 |
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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 |
3.45 |
-3.33 |
7.14 |
0.00 |
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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 |
1.00 |
1.03 |
1.00 |
0.71 |
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Notes: Financials are not disclosed and the above statement
is of the parent, YK Whistle Foods
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.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)