MIRA INFORM REPORT

 

 

Report Date :

07.07.2011

 

IDENTIFICATION DETAILS

 

Name :

OHYAMA CO LTD 

 

 

Registered Office :

2-12-1 Itsutsubashi Aobaku Sendai 980-0022

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 1986

 

 

Com. Reg. No.:

(Sendai-Aobaku) 007432

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of home-use products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

Yen 1,447.2 Million

Status :

Good

Payment Behaviour :

Regular

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

 

OHYAMA CO LTD

 

 

REGD NAME 

 

KK Ohyama

 

 

MAIN OFFICE

 

2-12-1 Itsutsubashi Aobaku Sendai 980-0022 JAPAN

Tel: 022-221-2109     Fax: 022-217-3787

URL:                             http://www.irisohyama.co.jp (Of the parent)

E-Mail address:            info@irisohyama.co.jp

 

 

ACTIVITIES  

 

Import, export, wholesale of home-use products

 

 

BRANCHES   

 

Nil

 

 

OVERSEAS   

 

USA, China, Korea, Europe, other (parent’s Branch Offices)

 

 

FACTORIES  

 

(subcontracted)

 

 

OFFICERS

 

KENTARO OHYAMA, PRES                 

Hideo Ohyama, dir

Akihiro Ohyama, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 45,314 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 12,394 M

STARTED                     1986                             EMPLOYES      17

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN HOME-USE PRODUCTS, OWNED BY IRIS OHYAMA INC.

 

FINANCIAL SITUATION CONSIDERED FAIR TO GOOD AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 1,447.2 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from Iris Ohyama Inc, a wholesaler of home-use products, at the caption address (See REGISTRATION).  Kentaro Ohyama is concurrently pres of the parent.  This is a trading firm specializing in import, export and wholesale of home-use products, such as furniture, pet foods, tools, garden goods, DIY goods, bicycles, other (See OPERATION).  Goods are both imported & exported.  Parent’s overseas branch offices are fully utilized for import & export businesses.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2010 fiscal term amounted to Yen 45,314 million, a 7% up from Yen 42,423 million in the previous term.  This is attributed to the new sales offices opened by the parent and imports of the goods increased.  The parent reported sales of Yen 80,986 million, up 5.2% from the previous term.  The recurring profit was posted at Yen 2,582 million and the net profit at Yen 3,243 million, respectively, compared with Yen 3,335 million recurring profit and Yen 8,318 million net losses, respectively, a year ago.

 

For the current term ending Mar 2011 the recurring profit is projected at Yen 2,600 million and the net profit at Yen 3,300 million, respectively, on a 7% rise in turnover, to Yen 48,500 million.  The parent projects the sales will increase bout 12%.

 

Financial situation is considered FAIR to GOOD and responsible for ORDINARY business engagements.  Max credit limit is estimated at Yen 1,447.2 million, on 30 days normal terms. 

 

REGISTRATION

 

Date Registered:  Apr 1986

Regd No.:                        (Sendai-Aobaku) 007432

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Akihiro Ohyama (66), Yuko Ohyama (24), Toshiko Ohyama (10)

 

No. of shareholders: 3

 

* Iris Ohyama Inc, mfr of home-use products, at the caption address, founded 1971, capital Yen 100 million, sales Yen 80,086 million, recurring profit Yen 8,475 million, net profit Yen 7,706 million, total assets Yen 115,374 million, net worth Yen 49,669 million, employees 1,359, pres Kentaro Ohyama, concurrently

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports, exports and wholesales home-use products (--100%)

 

(Handling items):

 

Storage/Furniture Div: TV racks, AV boards, KD furniture, hybrid chests, HG chests, free racks, CB boxes, wood racks, metal racks, kids concept, cotton boxes, closet carriers, wide stockers;

 

Pets Div: plastic dog houses, wooden dog houses, cat lands, system circles, pet carriers, pet drive boxes, air cleaners, cat toilets, pet sheets, cat litter, dry foods for dogs & cats, jerky;

 

Tools/Cars/Office, Household Goods Div: hard cases, buckle containers, RV boxes, Stanley hand tools, disposable body warmers, sheets for prevention of contamination of futon (beds), indoor dryers, extendable shelves, extendable bars for preventing furniture from falling, escape buckets set, high-pressure washers, work gloves, shredders, laminators;

 

Garden/Exterior Goods Div: long/square planters, wood drum type pots, lattices, garden mail boxes, system decks, tile decks, snow shovels, granular potting soil, gravel for security & wood proof, fully covered hose reels, battery operated aerosol, power-operated aerosol, power-operated eco mates, illumination lights, wooden sheds, step plates, other.

 

Clients: [Mfrs, wholesalers] Iris Ohyama, Dalian Iris Ohyama, Iris USA, other. 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Iris Ohyama Inc, Itochu Corp, Idemitsu Kosan, Japan Poly-Pro, Iris Ohyama Dalian, other.

 

Payment record: Regular

 

Location: Business area in Sendai, Miyagi-Pref.  Office premises at the caption address are owned by the parent and maintained satisfactorily.

 

Bank References:

Mizuho Corporate Bank (Sendai)

SMBC (Sendai)

Relations: Satisfactory.

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

48,500

45,314

42,423

46,494

Recur. Profit

　

2,600

2,583

2,338

3,911

Net Profit

　

3,300

3,243

-8,318

1,911

Total Assets

　

　

32,110

29,093

36,474

Current Assets

　

　

14,625

14,135

21,216

Current Liabs

　

　

19,450

19,516

18,379

Net Worth

　

　

12,394

9,151

17,500

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

1500.00

1500.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

7.03

6.81

-8.76

2.57

    Current Ratio

 

..

75.19

72.43

115.44

    N.Worth Ratio

..

38.60

31.45

47.98

    R.Profit/Sales

 

5.36

5.70

5.51

8.41

    N.Profit/Sales

6.80

7.16

-19.61

4.11

    Return On Equity

..

26.17

-90.90

10.92

 

Note: Forecast (or estimated) for the 31/03/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.71.24

Euro

1

Rs.64.16

 

 

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

 

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.