MIRA INFORM REPORT

 

 

Report Date :           

28.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MEISEI INTERNATIONAL INC

 

 

Registered Office :

1-125 Mihashi Ohmiyaku Saitama 330-0856

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

December  1992

 

 

Com. Reg. No.:

(Saitama-Ohmiyaku) 013905

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of furniture fabrics, building materials, auto parts

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 1.8 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

 

MEISEI INTERNATIONAL INC

 

 

REGD NAME 

 

KK Meisei International

 

 

MAIN OFFICE

 

1-125 Mihashi Ohmiyaku Saitama 330-0856 JAPAN

Tel: 048-793-7270     Fax: 048-661-2230

                                               

URL:                             http://www.meiseiinternational.co.jp

E-Mail address:                        tadatoshi-iizawa@meiseiinternational.co.jp

 

 

ACTIVITIES  

 

Import, export, wholesale of furniture fabrics, building materials, auto parts

 

 

BRANCHES   

 

Nil

 

OVERSEAS   

 

Italy (subsidiary)

 

 

OFFICERS

 

Tadatoshi Iizawa

Masayuki Uzawa, dir

Noriaki Yonebayashi, dir            

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 61 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 23 M

STARTED                     1992                             EMPLOYES      3

 

 

COMMENt    

 

TRADING FIRM SPECCIALIZING IN FURNITURE FABRICS, OTHERS.

 

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

                       

MAX CREDIT LIMIT: YEN 1.8 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Tadatoshi Iizawa in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of furniture fabrics, construction materials, auto parts, machinery, other.  Goods are imported from Italy centrally, other from Belgium, France, USA, other.  Has a subsidiary purchasing office in Italy. 

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2010 fiscal term amounted to Yen 61 million, a 27% up from Yen 48 million in the previous term.  Imports of bedding fabrics increased from newly acquired clients.  The recurring profit was posted at Yen 1 million and the net profit at Yen 1 million, compared with Yen 11 million recurring loss and Yen 6 million net losses, respectively, a year ago.

 

For the term that ended Mar 2011 the recurring profit was projected at Yen 3 million and the net profit at Yen 3 million, respectively, on a 7% rise in turnover, to Yen 65 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 1.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1992

Regd No.:         (Saitama-Ohmiyaku) 013905

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:    200 shares

Sum:                   Yen 110 million

 

Major shareholders (%): Tadatoshi Iizawa (49.5), Masayuki Ugo (27.5), Keiko Aihara (20.5), Kengo Aihara (2.5)

 

No. of shareholders: 4

           

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales: furniture fabrics (bed mattress fabrics, bed mattress cushion fabrics, sofa bed fabrics), construction materials (washroom utensils, shower boots, shower metal parts, other accessories), air nail hammer, auto-related products (repair/maintenance equipment, vacuum cleaner, high-pressure washing equipment, electric charger),spots-related equipment (squash racket, special panels, basket ball shooting panel, other), foods (pasta, macaroni, spaghetti) (--100%).

 

Clients: [Mfrs, wholesalers] Bridgestone Corp, Makita Corp, Karimoku Furniture Inc, France Bed, Tokyo Spring Mfg Ind, Nishikawa Bed Mfg Ind, Nihon Bed Mfg, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Imports from Italy, Belgium, France, USA, other

 

Payment record: Regular

 

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

 

Bank References:

Asahi Shinkin Bank (Asakusabashi)

Resona Bank (Akihabara)

Relations: Satisfactory

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

65

61

48

52

Recur. Profit

　

3

1

-11

　

Net Profit

　

3

1

-6

-11

Total Assets

　

　

48

48

　

Current Assets

　

　

43

40

　

Current Liabs

　

　

7

4

　

Net Worth

　

　

23

28

　

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.56

27.08

-7.69

-62.86

    Current Ratio

 

..

614.29

1,000.00

..

    N.Worth Ratio

..

47.92

58.33

..

    R.Profit/Sales

 

4.62

1.64

-22.92

..

    N.Profit/Sales

4.62

1.64

-12.50

-21.15

    Return On Equity

..

4.35

-21.43

..

 

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.71.88

Euro

1

Rs.63.75

 

 

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.