MIRA INFORM REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
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Name : |
FREESIA HOUSE CO LTD |
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Registered Office : |
6-8-3 Sotokanda Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
May 1990 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 006983 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, building
of log houses, apartment hoses |
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 73.3 Million |
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Status : |
Small Company |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
FREESIA HOUSE CO LTD
REGD NAME
Freesia House KK
MAIN OFFICE
6-8-3 Sotokanda Chiyodaku
Tokyo 101-0021 JAPAN
Tel:
03-5818-2222 Fax: 03-5818-2466
URL: www.freesia.co.jp
E-mail: info@freesia.co.jp
ACTIVITIES
Import,
building of log houses, apartment hoses
BRANCHES
Nil
FACTORIES
Kyoto,
Saitama
OFFICER(S)
JIRO
OKUYAMA, PRES Tamio Kobayashi,
dir
Fumi
Okuyama, dir Yoshikazu
Mogi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,504 M
PAYMENTS REGULAR CAPITAL Yen
1,295 M
TREND STEADY WORTH Yen
2,608 M
STARTED 1990 EMPLOYES 48
COMMENT
IMPORTER
& BUILDER OF LOG HOUSES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 73.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1987 for importing
log-house kits from USA and was incorporated in 1990. This is a builder of log houses, mainly importing
housing kits and materials from Sweden, where the firm has a JV factory. Also handles furniture and operates a coffee
shop. Changed the name to the captioned
in 2008. Advanced into building of
apartment houses. Clients include
hospitals, business firms, house builders, consumers, other.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 3,504 million,
a 73% up from Yen 2,030 million in the previous term. A large lot orders were received for
construction of apartment houses from major construction company, the firm
says. The recurring profit was posted at
140 million and the net profit at Yen 8 million, respectively, compared with
Yen 14 million recurring profit and Yen 40 million net profit, respectively, a
year ago
For the current term ending Mar 2011 the net profit is projected at Yen
20 million, on a 4% rise in turnover, to Yen 3,650 million.
For the term that ended Ma 2011 the recurring profit was projected t Ye
150 million and the net profit at Yen 10 million, respectively, on a 35 rise in
turnover, to Yen 3,600 million. The
projected building in the North Japan may have been affected by the Earthquake
in that area. 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 73.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1990
Regd No.: (Tokyo-Chiyodaku) 006983
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 25,905
shares
Issued: 25,905
shares
Sum: Yen 1,295.25 million
Major shareholders (%):
Freesia Trading* (100)
*..
Holding company owned by the firm
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Designs, builds
log houses, apartment houses, importing housing kits from Sweden centrally;
imports & wholesales furniture; operates coffee shops, other (--100%)
Clients: Hospitals,
business firms, construction firms, consumers, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Freesia Macross, Gadelius KK, Stensel, other
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Hibiya)
Resona
Bank (Kanda)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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3,600 |
3,504 |
2,030 |
2,209 |
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Recur.
Profit |
|
150 |
140 |
14 |
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Net
Profit |
|
10 |
8 |
40 |
42 |
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Total
Assets |
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7,457 |
6,423 |
6,258 |
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Current
Assets |
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3,575 |
2,424 |
2,318 |
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Current
Liabs |
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3,141 |
2,556 |
2,167 |
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Net
Worth |
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2,602 |
2,599 |
2,559 |
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Capital,
Paid-Up |
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12 |
12 |
12 |
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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 |
2.74 |
72.61 |
-8.10 |
-9.24 |
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Current Ratio |
|
.. |
113.82 |
94.84 |
106.97 |
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N.Worth Ratio |
.. |
34.89 |
40.46 |
40.89 |
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R.Profit/Sales |
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4.17 |
4.00 |
0.69 |
.. |
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N.Profit/Sales |
0.28 |
0.23 |
1.97 |
1.90 |
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Return On Equity |
.. |
0.31 |
1.54 |
1.64 |
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Notes:
Financials are only partially disclosed for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
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UK Pound |
1 |
Rs.63.57 |
|
Euro |
1 |
Rs.72.97 |
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.