MIRA INFORM REPORT

 

 

Report Date :           

17.11.2011

 

IDENTIFICATION DETAILS

 

Name :

THE ROTEL CO LTD

 

 

Registered Office :

Endo TN Bldg 2F, 6-12-21 Meguro-Honcho Meguroku Tokyo 152-0002

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

July 1961

 

 

Com. Reg. No.:

(Tokyo-Meguroku) 016250

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export and wholesale of audio products

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Poor

 

 

Payment Behaviour :

Slow

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

THE ROTEL CO LTD

 

 

REGD NAME

 

Rotel KK

 

 

MAIN OFFICE

 

Endo TN Bldg 2F, 6-12-21 Meguro-Honcho Meguroku Tokyo 152-0002 JAPAN

Tel: 03-5725-1220      Fax: 03-5725-1122

 

*.. Moved to the caption address from the former as given, and registered

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Import, export and wholesale of audio products

 

 

BRANCHEs   

 

Nil

 

 

OFFICERS

 

TOMOKI TACHIKAWA, PRES                Tetsuhito Tachikawa, s/mgn dir

Masahiro Nakajima, dir                           Yoshio Suda, dir                       

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    WEAK                          A/SALES          Yen 133 M

PAYMENTS                  slow                          CAPITAL           Yen 45 M

TREND             SLOW                          WORTH            Yen (-) 125 M

STARTED                     1961                             EMPLOYES      12

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN AUDIO EQUIPMENT.

 

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

                       

MAX CREDIT LIMIT: YEN (-) 2.2 MILLION, 30 DAYS; NO CREDITS ARE RECOMMENDED ON NEW TRANSACTIONS.  NEGATIVE NET WORTH.

 

 

HIGHLIGHTS

           

The subject company was established by Tomoki Tachikawa in order to make most of his experience in the subject line of business.  This is a trading firm specializing in import, export and wholesale of audio equipment and accessories.  95% of the goods are shipped to Grand Green Ltd (USA).

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 133 million, a 35% down from Yen 204 million in the previous term.  Global economic downturn affected the sales.  Consumer spending was sluggish.  High yet hurt the export revenues and profits in Yen terms.  The operations continued in the red (four successive terms) to post Yen 23 million net losses for the term, compared with Yen 76 million net losses a year ago.

 

For the current term ending Mar 2012 the operations are projected to come back to profitability but still limited to a minimum amount post-taxes, on a 5% rise in turnover, to Yen 140 million.

 

The financial situation is considered WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen (-) 2.2 million, on 30 days, we recommending NO CREDITS on new transactions.  Negative net worth.

 

 

REGISTRATION

 

Date Registered:  Jul 1961

Regd No.:         (Tokyo-Meguroku) 016250

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         360,000 shares

Issued:                90,000 shares

Sum:                   Yen 45 million

 

Major shareholders (%): Tetsuhito Tachikawa (50), Tomoki & families (--50)

 

No. of shareholders: 7

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales Hi Fi audio products: AM/FM stereo tuner, compact disk players, other (--100%)

 

Clients: [Mfrs, wholesalers] Grand Green Ltd (USA) (95%), Rotel Shoji (5%)

            No. of accounts: 2

            Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Mfrs, wholesalers] Sanshin Electric International Corp, Koyo Electric Co, OS Electronics Corp, Alps Electric Hong Kong, Grand Green Limited, other

 

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

 

Bank References:

·         MUFG (Gotanda-Ekimae)

·         Shiba Shinkin Bank (Oyama)

Relations: Satisfactory

 

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

140

133

204

256

Recur. Profit

　

0

-20

　

-122

Net Profit

　

0

-23

-76

-122

Total Assets

　

　

214

　

257

Current Assets

　

　

66

　

89

Current Liabs

　

　

262

　

220

Net Worth

　

　

-125

-101

-25

Capital, Paid-Up

　

　

45

45

45

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.26

-34.80

-20.31

-46.67

    Current Ratio

 

..

25.19

..

40.45

    N.Worth Ratio

..

-58.41

..

-9.73

    R.Profit/Sales

 

0.00

-15.04

..

-47.66

    N.Profit/Sales

0.00

-17.29

-37.25

-47.66

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.30

Euro

1

Rs.68.48

 

 

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.