MIRA INFORM REPORT

 

 

Report Date :           

12.07.2011

 

IDENTIFICATION DETAILS

 

Name :

MUSTARDGIGA CO LTD

 

 

Registered Office :

Theodore Amex 4F, 5-27-4 Minami-O’I Shinagawaku Tokyo 140-0013

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

June 2007

 

 

Com. Reg. No.:

(Tokyo-Ohtaku) 017150

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export of PCs & peripherals

 

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 1.3 Million

Status :

Small Company 

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

 

 Bottom of Form

MUSTARDGIGA CO LTD

 

 

REGD NAME 

 

Mustardgiga KK

 

 

MAIN OFFICE

 

Theodore Amex 4F, 5-27-4 Minami-O’I Shinagawaku Tokyo 140-0013, JAPAN

 

Tel: 03-5753-5898     Fax: 03-5753-5897

 

*.. Moved to the caption address from the one as given.

 

**.. Registered at: 5-23-4-203 Omori-Nishi Ohtaku Tokyo

 

URL:                 www.mustardgiga.co.jp 

E-mail:             sales@mustardgiga.co.jp            

 

 

ACTIVITIES  

 

Import, export of PCs & peripherals

 

 

BRANCHES

 

Taiwan (Giga-Byte Technology Co Ltd)

 

 

OFFICER(S)  

 

HIROSHI MIYATA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 60 M

PAYMENTS      REGULAR         CAPITAL           Yen 30 M

TREND             SLOW              WORTH            Yen 39 M

STARTED                     2007                 EMPLOYES      5

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN PCS & PERIPHERALS. 

 

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

 

MAX CREDIT LIMIT: YEN 1.3 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Hiroshi Miyata in order to make most of his experience in the subject line of business.  This is a trading firm specializing in importing PCs & peripherals, mostly from Taiwan.  Has a JV firm in Taiwan, Giga-Byte Technology Co ltd.  Clients include electronics mfrs, wholesalers, other.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 60 million, a sharp 40% down from Yen 100 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 is estimated posted at Yen 1 million, compared with Yen 3 million a year ago.  Exact figures of the profits are not disclosed.

 

For the current term ending Dec 2011 the net profit is projected at Yen 2 million, on a 33% rise in turnover, to Yen 80 million.  Demand is seen recovering. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 1.3 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Jun 2007

Regd No.:          (Tokyo-Ohtaku) 017150

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　2,400 shares

Issued:             　600 shares

Sum:                　Yen 30 million

Major shareholders (%): Hiroshi Miyata (75), Giga-Byte Technology Co (15), Kohei

Hayashi (10)

No. of shareholders: 3

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales PCs & peripherals: PC motherboards, PC cases, note pad, PC/TV tuners, coolers, other (--100%)

 

(Handling Brands): GIGABYTE, Hauppauge, KONIK, JMAX, SEED, TECO, other

 

 

Clients: [Mfrs, wholesalers] Master Seed, Mouse Computer, Japan Digital Lab, Tsukumo Electric Co, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Mfrs] Giga-Byte Technology Co Ltd, other.

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Bank (Shiba)

MUFG (Omori)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

80

60

100

129

Recur. Profit

　

　

　

　

　

Net Profit

　

2

1

3

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

39

38

35

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

33.33

-40.00

-22.48

29.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.50

1.67

3.00

3.88

 

Notes: Financials are only partially disclosed. 

Forecast (or estimated) figures for the 31/12/2011 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.70.84

Euro

1

Rs.62.96

 

 

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.