MIRA INFORM REPORT

 

 

Report Date :           

06.09.2011

 

IDENTIFICATION DETAILS

 

Name :

HONDA CO LTD

 

 

Registered Office :

1-38-6 Nihombashi-Kakigaracho Chuoku Tokyo 103-0014

 

 

Country :

Japan

 

 

Financials (as on) :

30.01.2011

 

 

Date of Incorporation :

March 1969         

 

 

Com. Reg. No.:

(Tokyo-Bunkyoku) 007191

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of towels, towel fabrics

 

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 4.5 Million

 

 

Status :

Moderate

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

 Bottom of Form

 

 

Company name

 

HONDA CO LTD

 

 

REGD NAME 

 

KK Honda

 

 

MAIN OFFICE

 

1-38-6 Nihombashi-Kakigaracho Chuoku Tokyo 103-0014 JAPAN

Tel: 03-3669-6041      Fax: 03-3639-4145

 

*.. Registered at: 2-7-6 Nezu Bunkyoku Tokyo

                                               

URL:                 N/A

 

 

ACTIVITIES  

 

Import, wholesale of towels, towel fabrics

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

China (2) (--subcontracted)

 

 

OFFICERS

 

HIROSHI HONDA, PRES

Kimiko Honda, dir

Takao Shima, dir

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY    

 

FINANCES        R/WEAK                       A/SALES          Yen 245 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND SLOW                          WORTH            Yen 72 M

STARTED         1969                             EMPLOYES      8

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN TOWELS.

 

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

                       

MAX CREDIT LIMIT: YEN 4.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Hiroshi Honda in order to make most of his experience in the subject line of business.  This is a trading firm, wholly owned & operated by the Honda family, for import and wholesale of towels & towel fabrics.  Goods are mostly imported from subcontracted makers in China.  Clients include major department stores.

 

 

FINANCIAL INFORMATION

           

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

 

The sales volume for Jan/2011 fiscal term amounted to Yen 245 million, a 4% down from Yen 254 million in the previous term.  Consumer spending remained sluggish.  The operations recovered from the deficit to post Yen 1 million net profit for the term.  This compares with Yen 12 million net losses a year ago.

 

For the current term ending Jan 2012 the net profit is projected at Yen 1 million, on a 2% rise in turnover, to Yen 250 million. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 4.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Mar 1969

Regd No.:         (Tokyo-Bunkyoku) 007191

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Hiroshi Honda (51), and families (--49)

 

No. of shareholders: 7

 

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

 

 

OPERATION

           

Activities: Imports and wholesales towels, towel fabrics, towel cloths, other (--100%)

 

Clients: [Department stores, wholesalers] Keio Department Store, Tokyu Department Store, Isetan Mitsukoshi Department Store, Nittsu Shoji Co, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Imports from China, other.

Domestically supplied from: Muramatsu Towel Co, Kyushu Tsubame Towel, other

 

Payment record: Regular

 

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

 

Bank References:

·         Joyo Bank (Ueno)

·         MUFG (Ohdenmacho)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Annual Sales

　

250

245

254

317

Recur. Profit

　

　

　

　

　

Net Profit

　

1

1

-12

-5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

72

71

83

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.04

-3.54

-19.87

-10.96

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.40

0.41

-4.72

-1.58

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/01/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.94

UK Pound

1

Rs.74.28

Euro

1

Rs.64.97

 

 

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.