MIRA INFORM
REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MANAS TRADING INC |
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Registered Office : |
Kamimeguro Okura Bldg 4/5F, 1-26-9 Kamimeguro Meguroku Tokyo 153-0051 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2011 |
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Date of Incorporation : |
November 1984 |
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Com. Reg. No.: |
(Tokyo-Meguroku) 005576 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale, import
of curtains, interior fabrics |
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 54.0 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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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
MANAS TRADING INC
REGD NAME
Manas Trading KK
MAIN OFFICE
Kamimeguro Okura Bldg
4/5F, 1-26-9 Kamimeguro Meguroku Tokyo 153-0051 JAPAN
Tel:
03-3792-7411 Fax: 03-3729-7481
E-Mail address: info@manas.co.jp
ACTIVITIES
Wholesale,
import of curtains, interior fabrics
BRANCHES
Osaka,
Nagoya, Hiroshima, Fukuoka (--show rooms)
STORE(S)
Tokyo
(2), Osaka (--in-shops)
OFFICERS
SHIN’ICHI
SAITOH, PRES Atsuhiko
Tsutsui, dir
Yoshiko
Ogito, dir Teruhisa
Uchida, dir
Naoki
Wakano, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,857 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
153 M
STARTED 1984 EMPLOYES 93
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN CURTAINS & OTHER UPHOLSTERY FABRICS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARYBUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 54.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally at Sarugakucho, Shibuyaku
and moved the Headquarters to the caption address in 2007. This is a trading company for import and
wholesale of curtains, curtain cloths, floorings, other upholstery fabrics. Goods are also retailed at 3 in-shops in
department stores. Has 5 show rooms with
collection of famous brand upholstery fabrics & products (see OPERATION). Goods are imported mostly through general
trading houses.
FINANCIAL INFORMATION
The sales volume for Feb/2007 fiscal term amounted to Yen 1,857 million,
a 6% down from Yen 1,982 million in the previous term, as affected by the
global economic downturn. Consumer
spending was sluggish. The recurring
profit was posted at Yen 16 million and the net profit at Yen 4 million,
respectively, compared with Yen 1 million net profit a year ago.
For the term that ended Feb 2011 the recurring profit was projected at
Yen 18 million and the net profit at Yen 5 million, respectively, on a 2% rise
in turnover, to Yen 1,900 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 54.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1984
Regd No.: (Tokyo-Meguroku) 005576
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,716 shares
Issued: 2,716
shares
Sum: Yen 100
million
Major shareholders (%): Shin’ichi Saitoh (36), Deco
Sasaki (11), Tokio Oda (8), Takatoshi Tao (7)
No. of shareholders: 31
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales (partially retails at in-shops in department stores) curtains,
curtain cloths, rugs & carpets, wall covering, floor covering, other
upholstery fabrics (--100%).
Show room &
collection of upholstery: Manas-Tex, Sahco, Sahco- ULF Moritz, Sahco – Lori
Weitzner, Jim Thompson, Elitis, Osborne & Little, Nina Campbell, Lorca,
Sanderson, William Morris, Backhausen, Anna French, Chase Erwin, John Boyd
Textiles Ltd, other.
Clients: [Department
stores, chain stores, wholesalers] Hankyu Department Stores, Isetan, Manas
& Morris, Sumitomo Forestry Co, Mitsui Designtech, Yamagiwa Corp,
other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Itochu Corp, Ionia Ltd, JFE Shoji Matech, Silent
Gliss Corp, other.
Imports from: Hesslein & Co AG, Jim Thompson Europe GmbH
(--Germany), Lori Weitzner Design Inc (USA), Thai Silk Co Ltd (Thailand),
Osborne & Little, Abaris Holdings Ltd (trade name Sandersen), Morris &
Co, John Boyd Textiles Ltd (--UK), other.
Payment record:
Regular
Location:
Business area Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Meguro)
SMBC
(Jiyugaoka)
Relations:
Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
28/02/2011 |
28/02/2010 |
28/02/2009 |
29/02/2008 |
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Annual
Sales |
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1,900 |
1,857 |
1,982 |
2,054 |
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Recur.
Profit |
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18 |
16 |
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27 |
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Net
Profit |
|
5 |
4 |
1 |
1 |
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Total
Assets |
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|
943 |
1,140 |
989 |
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Current
Assets |
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747 |
919 |
772 |
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Current
Liabs |
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214 |
379 |
316 |
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Net Worth |
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153 |
149 |
145 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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 |
2.32 |
-6.31 |
-3.51 |
-2.19 |
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Current Ratio |
|
.. |
349.07 |
242.48 |
244.30 |
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N.Worth Ratio |
.. |
16.22 |
13.07 |
14.66 |
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R.Profit/Sales |
|
0.95 |
0.86 |
.. |
1.31 |
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N.Profit/Sales |
0.26 |
0.22 |
0.05 |
0.05 |
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Return On Equity |
.. |
2.61 |
0.67 |
0.69 |
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Note:
Forecast (or estimated) for the 28/02/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.91 |
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UK Pound |
1 |
Rs.72.90 |
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Euro |
1 |
Rs.64.48 |
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.