MIRA INFORM REPORT
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Report Date : |
30.12.2011 |
IDENTIFICATION DETAILS
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Name : |
KEIAN CORPORATION |
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Registered Office : |
2-18-7 Higashiikebukuro Toshimaku Tokyo
170-0013 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
December 1991 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of
PC’s & peripherals; export of electronics parts |
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No. of Employees
: |
42 |
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 66.6 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
KEIAN CORPORATION
REGD NAME
Keian KK
MAIN OFFICE
2-18-7 Higashiikebukuro
Toshimaku Tokyo 170-0013 JAPAN
Tel:
03-3980-6425 Fax: 03-3980-6286
E-Mail address: info@keian.co.jp
ACTIVITIES
Import, wholesale
of PC’s & peripherals; export of electronics parts
BRANCHES
Osaka
FACTORIES
Fujimino (Saitama)
(distribution center)
OFFICERS
ANSHIN KOU, PRES
(Taiwanese resident)
Anseki Hoshihara,
ch
Ken Namiki, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,253 M
PAYMENTS REGULAR CAPITAL Yen 163 M
TREND SLOW WORTH Yen
378 M
STARTED 1991 EMPLOYES 42
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN PC’S & PERIPHERALS & ELECTRONICS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$400,000 / O/A 60 DAYS.
MAX CREDIT LIMIT: YEN 66.6 MILLION, 30 DAYS
NORMAL TERMS.
HIGHLIGHTS
The subject company was established as marketing base in Japan by Keian,
Taiwan, for selling PC’s &
peripherals. This is a trading firm
specializing in PC’s and peripherals.
Also exports electronics parts & components to Taiwan, Singapore,
etc. Domestic clients include major PC
chain stores, electronics mfrs, other.
FINANCIAL INFORMATION
The sales volume for Jun/2011 fiscal term amounted to Yen 3,253 million,
a 14% down from Yen 3,763 million in the previous term. Sales declined as affected by the Great North
Japan Earthquake which occurred in March 2011.
Consumer demand declined. The
operations continued in the red to register Yen 49 million recurring loss and
Yen 27 million net losses, respectively, compared with Yen 132 million
recurring loss and Yen 79 million net losses, respectively, a year ago.
For the current term ending Jun 2012 the operations are expected to come
back to profitability to post Yen 50 million recurring profit and Yen 50
million net profit, respectively, on a 3% rise in turnover, to Yen 3,350
million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 66.6 million, on 30 days normal terms. The proposed amount for 60 days term is
considered well within the firm’s financial capacities.
REGISTRATION
Date Registered:
Dec 1991
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3,260 shares
Issued: 3,260 shares
Sum: Yen 163 million
Major shareholders (%): Anseki Hoshihara
(majority owned) (Breakdown unavailable)
No. of shareholders: 7
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales PC’s and peripherals (--70%); exports electronics parts &
components, handy phones, others (--30%).
Imports from Taiwan, USA, Singapore, China, other; exports to Singapore,
Taiwan, USA.
(Handling Items): Digital photo
frames, Video/music capture, power, 2.5 inch drive case, terrestrial digital
tuner/TV, one-seg tuner, keyboard mouse, wireless AV sender, HDD stand, SSD, TV
boxes, slim drive (multi & compo), PC cases, security-related USB
equipment, video cards, motherboards, other.
Clients: [Mfrs, PC chain
stores] Tsukumo Electronics, Sofmap, Bic Camera, Yodobashi Camera, Third Wave, Eiden Communications,
Unit Com, Arrows Systems, Goodwill, PG Depot, Edion Group, Applied Systems,
Yamada Denki Co, Mouse Computer, other.
Exports to Taiwan, Singapore, USA, Taiwan, etc.
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] MTC Worldwide Corp, Grand Micro International Inc, TSR Silicon
International Inc, Keian PC System, LG Electronics Japan, other from Taiwan,
China, Singapore, USA, etc.
Domestically supplied from: Toshiba Personal Computer System Corp, Tomen
Device, Nissho Electronics, Fujitsu Ltd, Hitachi Software Engineering, LG
Electronics Japan, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
· Mizuho Bank (Ikebukuro)
· MUFG (Ikebukuro)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
30/06/2012 |
30/06/2011 |
30/06/2010 |
30/06/2009 |
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Annual
Sales |
|
3,350 |
3,253 |
3,763 |
3,821 |
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Recur.
Profit |
|
50 |
-49 |
-132 |
-90 |
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Net
Profit |
|
50 |
-27 |
-79 |
-62 |
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Total
Assets |
|
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1,109 |
1,300 |
1,438 |
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Current
Assets |
|
|
891 |
908 |
1,089 |
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Current
Liabs |
|
|
496 |
670 |
679 |
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Net
Worth |
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|
378 |
405 |
485 |
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Capital,
Paid-Up |
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|
163 |
163 |
163 |
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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 |
2.98 |
-13.55 |
-1.52 |
-16.41 |
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Current Ratio |
|
.. |
179.64 |
135.52 |
160.38 |
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N.Worth Ratio |
.. |
34.08 |
31.15 |
33.73 |
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R.Profit/Sales |
|
1.49 |
-1.51 |
-3.51 |
-2.36 |
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N.Profit/Sales |
1.49 |
-0.83 |
-2.10 |
-1.62 |
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Return On Equity |
.. |
-7.14 |
-19.51 |
-12.78 |
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Notes: Forecast
(or estimated) figures for 30/06/2012 fiscal term.
Financials in Digest
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
30/06/2011 |
30/06/2010 |
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INCOME STATEMENT |
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Annual Sales |
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3,253 |
3,763 |
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Cost of Sales |
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GROSS PROFIT |
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Selling & Adm Costs |
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OPERATING PROFIT |
91 |
69 |
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Non-Operating P/L |
-42 |
-63 |
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RECURRING PROFIT |
-49 |
-132 |
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NET PROFIT |
-27 |
-79 |
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BALANCE SHEET |
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Cash |
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343 |
275 |
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Receivables |
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332 |
359 |
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Inventory |
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197 |
222 |
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Securities, Marketable |
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Other Current Assets |
19 |
52 |
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TOTAL CURRENT ASSETS |
891 |
908 |
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Property & Equipment |
8 |
241 |
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Intangibles |
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0 |
0 |
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Investments, Other Fixed Assets |
210 |
151 |
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TOTAL ASSETS |
1,109 |
1,300 |
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Payables |
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209 |
143 |
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Short-Term Bank Loans |
252 |
302 |
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Other Current Liabs |
35 |
225 |
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TOTAL CURRENT LIABS |
496 |
670 |
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Debentures |
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Long-Term Bank Loans |
145 |
147 |
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Reserve for Retirement Allw |
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Other Debts |
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90 |
77 |
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TOTAL LIABILITIES |
731 |
894 |
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MINORITY INTERESTS |
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Capital, Paid-Up |
163 |
163 |
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Surplus |
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215 |
243 |
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SHAREHOLDERS' EQUITY |
378 |
405 |
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TOTAL EQUITIES |
1,109 |
1,300 |
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ANALYTICAL RATIOS Terms ending: |
30/06/2011 |
30/06/2010 |
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Net Worth
(S/Holders' Equity) |
378 |
405 |
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Current
Ratio (%) |
179.64 |
135.52 |
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Net
Worth Ratio (%) |
34.08 |
31.15 |
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Recurring
Profit Ratio (%) |
-1.51 |
-3.51 |
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Net
Profit Ratio (%) |
-0.83 |
-2.10 |
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Return
On Equity (%) |
-7.14 |
-19.51 |
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CONSOLIDATED
CASH FLOWS |
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Terms ending: |
30/06/2011 |
30/06/2010 |
30/06/2009 |
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Cash Flows from Operating Activities |
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31,178 |
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Cash Flows from Investment Activities |
31,650 |
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Cash Flows from Financing Activities |
-94,276 |
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Cash, Bank Deposits at the Term End |
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140,940 |
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ANALYTICAL
RATIOS Terms ending: |
30/06/2011 |
30/06/2010 |
IND/06/2011 |
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Net Worth (S/Holders' Equity) |
378 |
405 |
0 |
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Current Ratio(%) |
179.64 |
135.52 |
#DIV/0! |
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Net Worth Ratio (%) |
34.08 |
31.15 |
#DIV/0! |
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Recurring Profit Ratio (%) |
-1.51 |
-3.51 |
#DIV/0! |
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Net Profit Ratio (%) |
-0.83 |
-2.10 |
#DIV/0! |
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Return On Equity (%) |
-7.14 |
-19.51 |
#DIV/0! |
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Notes: Audited
by CPA. IND/xx/yyyy.. Non-consolidated
figures for (xx month)/(yyyy year) term.
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Current Sales |
3,253 |
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Credit Limit |
0.0 |
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《連結主体有価証券報告書》 ("Consolidated
entity financial report") |
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file_name
(English Name) |
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Terms Ending |
Annual Sales* |
R.Profit* |
N.Profit* |
S.Growth |
Net Worth* |
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Results: |
30/06/20101 |
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(%) |
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(Consolidated) |
30/06/201-1 |
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#DIV/0! |
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30/06/2010 |
3,763 |
-132 |
-79 |
#DIV/0! |
405 |
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30/06/2011 |
3,253 |
-49 |
-27 |
-13.55 |
378 |
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30/06/2012 |
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-100.00 |
.. |
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0Forecast (or estimated) figures for *** term. |
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*..Unit: Million Yen |
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↑Don't
Forget! |
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↑Don't
Forget! |
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Consolidated
Segment Information by Commodities for: ** Fiscal Term |
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Sales Volume |
|
Metals |
Machinery |
Construction |
Foodstuffs |
Chemicals |
Textiles |
Total |
Ellim/Whole |
Conslidated |
|
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Clients Outside |
288,566 |
606,158 |
158,581 |
363,389 |
1,001,308 |
448,903 |
2,866,905 |
0 |
2,866,905 |
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Inter-Segment |
343 |
1,388 |
8,442 |
632 |
2,228 |
779 |
13,812 |
-13,814 |
-2 |
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Tot: |
288,909 |
607,546 |
167,023 |
364,021 |
1,003,536 |
449,682 |
2,880,717 |
-13,814 |
2,866,903 |
|
Operating Exp |
288,455 |
606,383 |
169,045 |
356,247 |
987,155 |
443,684 |
2,850,969 |
-9,890 |
2,841,079 |
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Operating Profit |
454 |
1,163 |
-2,022 |
7,774 |
16,381 |
5,998 |
29,748 |
-3,923 |
25,824 |
|
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Segment Assets |
208,833 |
351,396 |
300,588 |
120,811 |
218,774 |
125,604 |
1,326,006 |
361,175 |
1,687,181 |
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Depr & Amort |
803 |
1,878 |
1,434 |
2,303 |
2,249 |
156 |
8,823 |
1,329 |
10,152 |
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Capital Expdtrs |
73 |
1,755 |
21 |
186 |
7,426 |
68 |
9,529 |
220 |
9,749 |
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†.. |
Metals: Steel materials, non-ferrous metals,
ores, coal, precious metals, others |
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†.. |
Machinery: Wind/thermal power plants,
communications equipment, automobiles & their parts, others |
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†.. |
Construction: Real estate dealing, construction,
raw wood, plywood, other construction materials |
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†.. |
Foodstuffs: Cereals, flour, feedstuffs,
meat, liquor, other foods, marine products, etc |
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†.. |
Chemicals: Oil, petrochemical products, fine/inorganic
chemicals, agricultural chemicals, others |
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†.. |
Textiles: Textile fibers, fabrics,
clothing, upholstery , bedding, others |
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Consolidated Segment Information by Continents
for: ** Fiscal Term |
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Sales Volume |
Japan |
N. America |
Europe |
Asia/Oceania |
Others |
Total |
Ellim/Whole |
Consolidated |
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|
|
Clients Outside |
2,657,738 |
85,539 |
24,150 |
85,390 |
14,091 |
2,866,908 |
0 |
2,866,908 |
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Inter-Segment |
27,661 |
65,992 |
7,097 |
14,856 |
234 |
115,840 |
-115,840 |
0 |
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Tot: |
2,685,399 |
151,531 |
31,247 |
100,246 |
14,322 |
2,982,748 |
-115,840 |
2,866,908 |
|
|
Operating Exp |
2,664,364 |
151,267 |
32,533 |
96,035 |
12,041 |
2,956,240 |
-115,158 |
2,841,082 |
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Operating Profit |
21,035 |
264 |
-1,286 |
4,211 |
2,281 |
26,508 |
-682 |
25,826 |
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Segment Assets |
1,412,327 |
169,829 |
122,175 |
157,201 |
54,574 |
1,916,106 |
-164,756 |
1,751,350 |
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†.. |
N. America: USA, Canada |
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†.. |
Europe: UK, Netherlands, Germany |
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†.. |
Asia/Oceania: China, Singapore, Indonesia,
Australia |
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†.. |
Others: Middle & South America mainly |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.36 |
|
UK Pound |
1 |
Rs.82.51 |
|
Euro |
1 |
Rs.68.99 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.