MIRA INFORM REPORT

 

 

Report Date :

18.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AUDION CO LTD

 

 

Registered Office :

4-29-13 Higashi-Koigakubo Kokubunji Tokyo-Metrop 185-0014

 

 

Country :

Japan

 

 

Financials (as on) :

30.04.2010

 

 

Year of Establishment :

July 1987

 

 

Com. Reg. No.:

(Tokyo-Higashi-Kokubunji) 002017

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of audio equipment

 

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

 

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 – December 31, 2010

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Name and address

 

AUDION CO LTD

REGD NAME:    KK Audion

MAIN OFFICE:  4-29-13 Higashi-Koigakubo Kokubunji Tokyo-Metrop 185-0014 JAPAN

                        Tel: 042-325-7501     Fax: 042-325-7502

 

URL:                 N/A      

 

 

ACTIVITIES  

 

Export of audio equipment

 

BRANCHES   

 

Nil

 

FACTORIES  

 

(subcontracted)

 

 

OFFICER(S)

 

TOSHIAKI TANAKA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 15 M

PAYMENTS                  REGULAR         CAPITAL           Yen 10 M

TREND             SLOW              WORTH            Yen 26 M

STARTED                     1987                 EMPLOYES      1

 

 

COMMENT    

 

EXPORTER OF AUDIO EQUIPMENT. 

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

 

MAX CREDIT LIMIT: YEN 300,000.00, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Toshiaki Tanaka in order to make most of his experience in the subject line of business.  This is a trading firm, owned and operated by T Tanaka from his home address, specializing in export of audio equipment and devices.  Goods are exported to China and other S/E Asian countries.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Apr/2010 fiscal term amounted to Yen 15 million, a 50% down from Yen 30 million in the previous term, as affected by the global economic downturn.  Demand declined.  Exports were hurt by the high Yen, reducing revenues and profits in Yen terms.  The net profit was posted at Yen 1 million, compared with Yen 2 million a year ago.  .

 

For the term that ended Apr 2011 the net profit was projected at Yen 2 million, on a 67% rise in turnover, to Yen 25 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 300,000.00, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Jul 1987

Regd No.:            (Tokyo-Higashi-Kokubunji) 002017

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　800 shares

Issued:             　200 shares

Sum:                　Yen 10 million

Major shareholders (%): Toshiaki Tanaka (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Exports audio equipment & devices (--100%)

 

Clients: [Mfrs, wholesalers] Exports to China and other S/E Asian countries

No. of accounts: Unavailable

Domestic areas of activities: Centered in greater-Tokyo

Suppliers: Electronic mfrs, wholesalers, other

 

Payment record: Regular

 

Location: Business area in Higashi-Kokubunji, Tokyo-Metrop.  Office premises at the caption address are owned by T Tanaka as his private home residence and maintained satisfactorily.

 

Bank References:

MUFG (Shinjuku-Fukutoshin)

Tama Shinkin Bank (Kokubunji-Minamiguchi)

Relations: Money deposits & transfers only

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/04/2011

30/04/2010

30/04/2009

30/04/2008

Annual Sales

　

25

15

30

16

Recur. Profit

　

　

　

　

　

Net Profit

　

2

1

2

2

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

26

25

23

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

66.67

-50.00

87.50

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

8.00

6.67

6.67

12.50

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/04/2011 fiscal term. 


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.07

UK Pound

1

Rs.72.97

Euro

1

Rs.63.57

 

 

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.