MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KIBO21 CO LTD

 

 

Registered Office :

13-5 Shinminatomachi Kishiwada City Osaka-Pref 596-0012

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

June 1994

 

 

Com. Reg. No.:

(Osaka-Kishiwada) 003709

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of plywood

 

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 5.4 Million

Status :

Moderate

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

 

 Bottom of Form

 

Company name

 

KIBO21 CO LTD

 

 

REGD NAME 

 

KK Kibo Nijuichi (meaning 21 in Japanese)

 

 

MAIN OFFICE

 

13-5 Shinminatomachi Kishiwada City Osaka-Pref 596-0012 JAPAN

Tel: 072-432-0021     Fax: 072-432-1158

 

URL:                 N/A

 

 

ACTIVITIES

 

Mfg of plywood

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address

 

 

OFFICER(S)

 

MASATAKA TANAKA, PRES

Yoshiko Tanaka, dir

Toshikazu Nakahira, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 438 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 69 M

STARTED                     1994                             EMPLOYES      8

 

 

COMMENT    

 

MFR SPECIALIZING IN PLYWOOD. 

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: CD$213,939.00.

 

MAX CREDIT LIMIT: YEN 5.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Masataka Tanaka in order to make most of his experience in the subject line of business.  This a specialized mfg, solely owned by the Tanaka family, of plywood.  Clients are house builders mainly in the greater-Osaka region.

           

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as from the Dec/2007 fiscal term.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 438 million, a 20% down from Yen 550 million (as estimated) in the previous term.  Caught up by the economic downturn the housing starts fell substantially.  The net profit was posted at Yen 4 million, compared with Yen 2 million a year ago.  Some extraordinary profits are included, as reported.

 

For the current term ending Dec 2011 the net profit is projected at Yen 5 million, on a 7% in turnover, to Yen 470 million.  Housing starts revived.

           

The financial situation is considered RATHER WEAK but should be good for MODERAT business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 5.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Jun 1994

Regd No.:           (Osaka-Kishiwada) 003709

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Masataka Tanaka (100)

 

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

 

 

OPERATION

 

Activities: Manufactures veneer & other timber for building & furniture industries (--100%)

           

Clients: [House builders, furniture mfrs, wholesalers] Eidai Sangyo, Daiken Corp, Sumitomo                                   Forestry, Sojitz Building Materials, Daiken Corp Mie, Shirakawa Paper, other.

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Osaka & neighboring prefectures.

 

Suppliers: [Mfrs, wholesalers] Showa Mokuzai, Sumitomo Forestry, other. Also imports from Canada, China, other.

 

Payment record: Regular

 

Location: Business area in Kishiwada City, adjacent to Osaka City.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

SMBC (Tenka-Jaya)

Shoko Chukin Bank (Sakai)

Relations: Satisfactory

 

 

FINANCES

 (In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

470

438

550

577

Recur. Profit

　

　

　

　

　

Net Profit

　

5

4

2

3

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

69

65

63

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

7.31

-20.36

-4.68

-24.28

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.06

0.91

0.36

0.52

 

Notes: The firm stopped disclosing financials as from the 31/03/2007 fiscal term, only except partial figures as above.  The 31/12/2009 figures are estimated as the firm does not disclose.

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

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.