MIRA
INFORM REPORT
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Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
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Name : |
HIRANO SANGYO CO LTD |
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Registered Office : |
Koishikawa Bldg 2F, 2-3-26 Koishikawa
Bunkyoku Tokyo 112-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2010 |
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Date of Incorporation : |
July 1955 |
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Com. Reg. No.: |
(Tokyo-Bunkyoku) 006715 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale, retail of rainwear,
windbreaker, gloves |
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 |
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 : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
HIRANO SANGYO CO LTD
REGD NAME: Hirano
Sangyo KK
MAIN OFFICE: Koishikawa
Bldg 2F, 2-3-26 Koishikawa Bunkyoku Tokyo 112-0002 JAPAN
Tel: 03-3814-8701 Fax: 03-3814-8706
E-Mail address: info@plain-net.com
ACTIVITIES
Import, wholesale,
retail of rainwear, windbreaker, gloves
BRANCHES
Nil
FACTORIES
Ibaraki
(Warehouse)
OFFICERS
TETSURO SATO, PRES
Kihachiro Hirao,
ch
Fumiko Sato, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 640 M
PAYMENTS REGULAR CAPITAL Yen 11 M
TREND SLOW WORTH Yen 3 M
STARTED 1955 EMPLOYES 18
COMMENT
TRADING FIRM SPECIALIZING IN RAINWEAR.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$800,000 / O/A 60 DAYS.
MAX CREDIT LIMIT:
YEN 10.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
originally in 1938 by Hiroshi Hirano for selling rainwear, on his account. Incorporated in 1955 the firm has been
succeeded by his descendants. Kihachiro,
now ch, is his son. Tetsuro Sato is the
third generation master, who took the pres office in Sept 2001. This is a family-based trading firm for
import and wholesale of rainwear centrally, windbreakers, gloves, other
wind-proof wear & articles. Goods
are also sold online. Goods are imported
from China. Clients include chain
stores, supermarkets, other. The firm
increased the capital to Yen 11 million in Sept 2010 from Yen 10 million.
FINANCIAL INFORMATION
Financial are only partially
disclosed as is the case with family-based companies.
The sales volume for Jul/2010 fiscal term amounted to Yen 640 million, a
9% down from Yen 703 million in the previous term, as affected substantially by
the global economic downturn, particularly in the first half of the term. Consumer spending was sluggish. The net profit was posted at Yen 1 million,
compared with Yen 7 million net losses a year ago.
For the term that ended Jul 2011 the
net profit was projected at Yen 8 million, on a 9% rise in turnover, to Yen 700
million. Demand rose sharply for
wind-proof wear & articles following the North Japan Earthquake on Mar 11,
as part of emergency rescue supplies by the local municipalities.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements. The proposed amount, however, is considered
TOO HIGH from the recent financial status.
Max credit limit is estimated at Yen 10.3 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jul
1955
Regd No.:
(Tokyo-Bunkyoku) 006715
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 22,000 shares
Sum: Yen 11 million*
*.. Capital increased from Yen 10 million in
Sept/2010
Major
shareholders (%): Tetsuro Sato (35), Fumiko Sato (25), Kayoko Mizuno (20),
Kihachiro Hirano (10)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports,
wholesales and retails (online) synthetic rubber rainwear, windbreakers,
gloves, caps, other wind- & rain-proof wear & articles, for use in
agricultural farming, bicycle riding, gardening, industrial works, other
(--100%).
Clients: [Chain stores,
supermarkets, wholesalers, consumers] Joyful Honda, Seiyu Ltd, Arkland
Sakamoto, Tsuruoka Co, Shimachu Co, DOIT Co, LIXIL Viva, Prestige Co, I-Agri
Corp, other
No. of accounts:
300
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports centrally from China.
Domestic suppliers: Okamoto Ind Inc, Atom
Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Sugamo Shinkin
Bank (Kasugacho)
MUFG (Hongo)
Relations:
Satisfactory
FINANCES
(In Million
Yen)
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Terms Ending: |
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31/07/2011 |
31/07/2010 |
31/07/2009 |
31/07/2008 |
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Annual
Sales |
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700 |
640 |
703 |
687 |
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Recur.
Profit |
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Net
Profit |
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8 |
1 |
-7 |
8 |
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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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3 |
2 |
9 |
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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 |
9.38 |
-8.96 |
2.33 |
-4.18 |
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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 |
1.14 |
0.16 |
-1.00 |
1.16 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/07/2011 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.45.24 |
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|
1 |
Rs.73.88 |
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Euro |
1 |
Rs.65.06 |
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 |
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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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.