MIRA INFORM REPORT

 

 

Report Date :           

10.10.2011

 

IDENTIFICATION DETAILS

 

Name :

WESCO CO INC

 

 

Registered Office :

Fukuoka General Bldg 3F, 1-11-1 Takasago Chuoku Fukuoka 810-0011

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

August 2001

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of cooking wear

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 9.6 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

 

Company name

 

WESCO CO INC

 

 

REGD NAME 

 

Wesco KK

 

 

MAIN OFFICE

 

Fukuoka General Bldg 3F, 1-11-1 Takasago Chuoku Fukuoka 810-0011JAPAN

Tel: 092-533-1234     Fax: 092-533-1188

 

URL:                             www.wesco-inc.co.jp 

E-mail:                         info@welco-inc.co.jp        

 

 

ACTIVITIES

 

Import, wholesale of cooking wear

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

TETSUJI YAMAMOTO, PRS

Katsuhiko Yamamoto, dir

Shin’ichi Yamamoto, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 530 M

PAYMENTS                  REGULAR         CAPITAL           Yen 10 M

TREND             SLOW              WORTH            Yen 46 M

STARTED                     2001                 EMPLOYES      90

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN COOK WEAR. 

 

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

 

MAX CREDIT LIMIT: YEN 9.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Tetsuji Yamamoto in order to make most of his experience in the subject line of business.  This is a trading firm, wholly owned and operated by the Yamamoto family, specializing for import and wholesale of cook ware of ANKOR brand of West Bend Inc, USA, as its marketing agent in Japan.  Goods are also sold online.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Feb/2011 fiscal term amounted to Yen 530 million, a 4% down from Yen 550 million in the previous term.  This business is exposed to a severe price competition with similar or superior quality goods sold at lower prices.  The net profit was posted at Yen 5 million, similarly in the previous year.  .

 

For the current term ending Feb 2012 the net profit is projected at Yen 5 million, on a 4% rise in turnover, to Yen 550 million.   

           

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 9.6 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Aug 2001

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　800 shares

Issued: 　         200 shares

Sum:                　Yen 10 million

Major shareholders (%): Tetsuji Yamamoto (60) & families (--40)

No. of shareholders: 5

 

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

 

 

OPERATION

 

Activities: Imports, wholesales and retails cook wear of ANKOR brand (--100%).

 

 

Clients: [Consumers, agents, wholesalers] Inter Wesco, other

            No. of accounts: 100

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs] West Bend (Regal), USA.

 

Payment record: Regular

 

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

 

Bank References:

·         Fukuoka Bank (Tenjincho)

·         Nishi Nippon City Bank (Sumiyoshi)

 

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

28/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

550

530

550

580

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

5

10

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

46

41

36

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.77

-3.64

-5.17

-10.77

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.91

0.94

0.91

1.72

 Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 28/02/1012 fiscal term. 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.