MIRA INFORM
REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
ISHIMIZU CO LTD |
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Registered Office : |
1289 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
January
1988 |
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Com. Reg. No.: |
(Wakayama-Kainan) 005583 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of bathroom supplies,
kitchen supplies |
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 7.5 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
ISHIMIZU CO LTD
REGD NAME
KK Ishimizu
MAIN OFFICE
1289 Hikata Kainan City Wakayama-Pref 642-0002 JAPAN
Tel: 073-482-1741 Fax:
073-483-1048
URL: http://www.3.ocn.co.jp/~ishimizu/
E-mail address: ishimizu@skyblue.ocn.ne.jp
ACTIVITIES
Import, wholesale of bathroom supplies, kitchen supplies
BRANCH(ES)
Kainan (Wakayama)
OFFICER(S)
YASUHIRO ISHIMIZU, PRES
Eiji Ishimizu, dir
Chieko Ishimizu, dir
Yen Amount: In million Yen, otherwise stated.
SUMMARY
FINANCES R/WEAK A/SALES Yen
410 M
PAYAMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH
Yen 72 M
STARTED
1988 EMPLOYS 13
COMMENT
IMPORTER & WHOLESALER SPECIALIZING IN HOUSEHOLD SUPPLIES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 7.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established originally in 1945 by father of Eiji Ishimizu
in order to make most of his experience in the subject line of business, on his
account, and was incorporated by Eiji Ishimizu in 1988. Yasuhiro is the grandson, who took the pres
office in Apr 2008. This is a trading
firm specializing in import and wholesale of bathroom supplies, kitchen supplies,
and other household goods & supplies.
Imports natural sea sponges from fisheries overseas. Goods are shipped to household goods stores,
chain stores, etc.
FINANCIAL INFORMATION
Financials
are only partially disclosed as is the case with family-based companies.
The sales
volume for Dec/2009 fiscal term amounted to Yen 410 million, a 9% down from Yen
450 million in the previous term, as affected by the global economic
downturn. Consumer spending was
sluggish. High yen hurt import revenues
& profits in Yen terms. The net
profit was posted at Yen 5 million, a similar amount in the previous period.
For the
term that just ended Dec 2010 the net profit was projected at Yen 5 million, on
a 2% rise in turnover, to Yen 420 million.
Final results are yet to be released.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 7.5 million, on 30 days normal terms.
RESIGTRATION
Date Registered: Jan 1988
Regd No.: (Wakayama-Kainan) 005583
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1,600 shares
Issued:
400 shares
Sum: Yen 20 million
Major
shareholders(%): Yasuhiro Ishimizu and families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Wholesales bath towels, brushed,
cleaners, other bathroom goods, kitchen brushes, cleaners, trash boxes, other
kitchen supplies, including natural sea sponges, sea sponges, sponges, other
(--100%).
Goods are
also retailed online.
Clients: [Chain stores, household goods
stores] Tokyu Hands, other.
No. of account.. 300
Domestic areas of activities: Centered in Wakayama-Pref and
vicinities
Suppliers: [Mfrs, wholesalers] Nittobo Materials,
Wako Co, Kikuron, Miyasachi Shoten, other
Payment record: Regular
Location: Business area in
Bank Reference:
·
Kiyo
Bank (Kainan-Ekimae)
·
Kinokuni
Shinkin Bank (Kainan)
Relations: Satisfactory
FINANCES
(In million yen)
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Terms Ending: |
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31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
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Annual
Sales |
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420 |
410 |
450 |
450 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
5 |
10 |
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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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72 |
67 |
62 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
2.44 |
-8.89 |
0.00 |
1.12 |
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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 |
1.19 |
1.22 |
1.11 |
2.22 |
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Notes: Financial statements are only partially disclosed.
Forecast (or estimated) figures for 31/12/2010 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.45.16 |
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1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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.