MIRA INFORM REPORT

 

 

Report Date :           

18.08.2011

 

IDENTIFICATION DETAILS

 

Name :

PRECO CORPORATION

 

 

Registered Office :

Digest Bldg 9F, 1-11-23 Minamisemba Chuoku Osaka 542-0081

 

 

Country :

Japan

 

 

Financials (as on) :

30.04.2011

 

 

Date of Incorporation :

August 1972  

 

 

Com. Reg. No.:

(Osaka-Chuoku) 132602

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturing,  Import, Export of stationery goods, plastic boards

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 11.4 Million

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

 Bottom of Form

 

PRECO CORPORATION

 

 

REGD NAME 

 

Preco KK

 

 

MAIN OFFICE

 

Digest Bldg 9F, 1-11-23 Minamisemba Chuoku Osaka 542-0081 JAPAN

Tel: 06-6264-1411     Fax: 06-6264-1412

URL:                 N/A

 

 

ACTIVITIES

 

Mfg, import, export of stationery goods, plastic boards

 

 

BRANCHES   

 

Nil

 

 

FACTORIES  

 

Hyogo (Distribution Center)

 

 

OFFICER(S)  

 

KAZUHISA ISHIKAWA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        R/WEAK           A/SALES                      Yen 630 M

PAYMENTS      REGULAR         CAPITAL                       Yen 10 M

TREND SLOW              WORTH                        Yen 157 M

STARTED         1972                 EMPLOYES                  12

 

 

COMMENT    

 

TRADING HOUSE SPECIALIZING IN STATIONERY GOODS. 

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 11.4 MILLION, NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Yoshihisa Ishikawa in order to make most of his experience in the subject line of business.  Kazuhisa is the founder’s son, who took the pres office in Jul 2009.  Owned and operated by the Ishikawa family, the subject is a trading house specializing in import, export and wholesale of stationery goods (plastic & paper products).  Exports to Germany, USA, Italy, France, Singapore, UK, Sweden, Denmark, Australia, Thailand, etc.  Also imports from Europe, S/E Asian countries. 

 

 

FINANCIAL INFORMATION

 

The sales volume for Apr.2011 fiscal term amounted to Yen 630 million, a 15% up from Yen 550 million in the previous term.  OEM products rose sharply into China & other S/E Asian countries.  The net profit was posted at Yen 6 million, compared with Yen 5 million a year ago.

 

For the current term ending Apr 2012 the net profit is projected at Yen 6 million, on a 3% rise in turnover, to Yen 650 million.  Business is seen expanding steadily.

 

The financial situation is considered RATHER WEAK but should be good MODERATE business engagements.  Max credit limit is estimated at Yen 11.4 million, on normal terms.

 

 

REGISTRATION

 

Date Registered:  Aug 1972

Regd No.:         (Osaka-Chuoku) 132602

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:             20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Kazuhisa Ishikawa (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Imports, exports and wholesales stationery goods, plastic boards, others (--100%). 

(Export 80%, import 20%).

 

Clients: [Mfrs, wholesalers] Exports to USA, Germany, Italy, France, Denmark, UK, Sweden, Australia, Singapore, Thailand, other.

Domestic Clients: Tokyu Hands, Beams, U Arrows, Loft Corp, Avon Products Inc, Braun GmbH Japan, other

           

No. of accounts: 200 (Japan only)

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Tsutsunaka Plastic Ind, Chiyoda Gravure, other.  Imports from Schmidt, other from Europe and S/E Asian countries.

 

Payment record: Regular

 

Location: Business area in Osaka.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Resona Bank (Tenmabashi)

SMBC (Tenmabashi)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/04/2012

30/04/2011

30/04/2010

30/04/2009

Annual Sales

　

650

630

550

400

Recur. Profit

　

　

　

　

　

Net Profit

　

6

6

5

4

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

157

151

146

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.17

14.55

37.50

14.29

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.92

0.95

0.91

1.00

Notes: Financial statement not disclosed only except the above partial approx figures.

Forecast (or estimated) figures for 30/04/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.74.56

Euro

1

Rs.65.34

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.