MIRA INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ROYAL PRODUCTS INC |
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Registered Office : |
Cherry Garden 206,
4-17 Sakuragaoka Shibuyaku Tokyo 150-0031 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
July 1971 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
wholesale of stainless steel
cookware |
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 6.9 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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) |
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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
ROYAL PRODUCTS INC
REGD NAME
Royal Products
MAIN OFFICE
Cherry Garden 206,
4-17 Sakuragaoka Shibuyaku Tokyo 150-0031 JAPAN
Tel:
03-3463-0210 Fax: 03-3463-4786
URL: http://www.royalproducts.co.jp
E-Mail address: info@royalproducts.co.jp
ACTIVITIES
Import,
wholesale of stainless steel cookware
BRANCHES
Nil
OFFICERS
TAKASHI
YOSHIDA, PRES
Kaoru
Idogaki, mgn dir
Kimiko
Yoshida, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 372 M
PAYMENTS REGULAR CAPITAL Yen 62 M
TREND SLOW WORTH Yen
158 M
STARTED 1971 EMPLOYES 6
COMMENT
IMPORTER OF STAINLESS STEEL COOKWARE.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 6.9 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Takashi Yoshida originally in
1960, on own account, in order to make most of his experience in the subject
line of business. This is a trading house
for importing and franchise distributor of Royal Queen stainless steel
cookware, their attachments & accessories.
Also handles detergent and other household goods. Goods are imported from USA centrally. Clients are specialty dealers in the similar
business line, covering nationwide.
Operates cooking classes, too.
Goods are also retailed online.
FINANCIAL INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Jun/2010 fiscal term amounted to Yen 372 million, a
9% down from Yen 408 million in the previous term. This business is exposed to severe
competition as similar and/or lower-priced products are widely in the
market. Consumer spending was
sluggish. The net profit was posted at
Yen 6 million, a similar amount in the previous term.
For the term that ended Jun 2011 the net profit was projected at Yen 7
million on an 8% rise in turnover, to Yen 400 million. Cooking classes are said to be well
operated. Final results are yet to be
released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 6.9 million, on 30 days normal terms.
REGISTRATION
Date Registered:
Jul 1971
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
499,200 shares
Issued: 124,800
shares
Sum: Yen 62.4 million
Major shareholders (%): Takashi Yoshida (majority
owned)
No. of shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales Royal Queen stainless steel cookware, their attachments &
accessories, detergent, other; operates cooking classes (--100%).
Goods are imported from USA as importer and franchise distributor of the
Royal Queen cookware.
Goods are sold online, too. Holds
cooking classes, including online classes.
Clients: [Specialty
stores, wholesalers, consumers] Royal Queen, IPS, Easy wares, Sanyo Color
Photo, KK Bridge, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Regal Ware
Inc, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
·
Kosan Shinkin Bank (Shibuya)
·
SMBC (Shibuya)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2011 |
30/06/2010 |
30/06/2009 |
30/06/2008 |
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Annual
Sales |
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400 |
372 |
408 |
426 |
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Recur.
Profit |
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Net
Profit |
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7 |
6 |
6 |
7 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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158 |
152 |
146 |
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Capital,
Paid-Up |
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62 |
62 |
62 |
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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 |
7.53 |
-8.82 |
-4.23 |
-43.20 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.75 |
1.61 |
1.47 |
1.64 |
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Notes:
Financials are not disclosed only except the above partial figures.
Forecast
(or estimated) figures for 30/06/2011 fiscal term. Final figures are yet to be released.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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.