MIRA INFORM REPORT

 

 

Report Date :           

10.09.2011

 

IDENTIFICATION DETAILS

 

Name :

INTERFORM INC

 

 

Registered Office :

Mitsui Soko West 3F, 5-1 Shinko Chuoku Kobe 650-0041

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

August 1979

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of lighting fixtures, house interior goods

 

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 25.0 Million

 

 

Status :

Small Company 

 

 

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  

 

INTERFORM INC

 

 

REGD NAME 

 

KK Interform

 

 

MAIN OFFICE

 

Mitsui Soko West 3F, 5-1 Shinko Chuoku Kobe 650-0041 JAPAN

Tel: 078-392-8423      Fax: 078-392-8427

                                               

URL:                             http://www.interform-inc.com

E-Mail address:            if@interform.jp

 

 

ACTIVITIES

 

Import, wholesale of lighting fixtures, house interior goods

 

 

BRANCHES   

 

Nil

 

 

FACTORIES

 

China, Taiwan, India (--subcontracted)

 

 

OFFICERS

 

ISAO FUCHIGAMI, PRES

Hirohiko Fujiwara, dir

Nobuko Fuchigami, dir               

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 834 M

PAYMENTS      REGULAR                     CAPITAL           Yen 45 M

TREND             SLOW                          WORTH            Yen 417 M

STARTED                     1979                             EMPLOYES      29

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN HOUSE INTERIOR GOODS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 25.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Isao Fuchigami in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of lighting fixtures, glassware, fabrics, house interior goods, other.  Goods are shipped to department stores, chain stores, interior goods stores, other.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Jul/2010 fiscal term amounted to Yen 834 million, a 6% down from Yen 883 million in the previous term.  Consumer spending was sluggish.  High Yen hurt sales revenues and profits in Yen terms.  The net profit was posted at Yen 7 million, compared with Yen 31 million a year ago.

 

For the term that ended Jul 2011 the net profit was projected at Yen 7 million, on a 2% rise in turnover, to Yen 850 million.  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 25.0 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Aug 1979

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         360,000 shares

Issued:                90,000 shares

Sum:                   Yen 45 million

Major shareholders (%): Isao Fuchigami (60), Nobuko Fuchigami (30)

No. of shareholders: 4

 

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

 

 

OPERATION

           

Activities: Imports and wholesales lighting fixtures, glassware, fabrics, house interior goods (--100%)

 

Clients: [Department stores, chain stores, wholesalers] Tokyu Hands, Loft Co, Bals Corp, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Imports from China, Taiwan, India, other

 

Payment record: Regular

 

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

 

Bank References:

·         MUFG (Kobe)

·         SMBC (Sannomiya)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

850

834

883

1,021

Recur. Profit

　

　

　

　

　

Net Profit

　

7

7

31

49

Total Assets

　

　

N/A

711

N/A

Net Worth

　

　

417

412

391

Capital, Paid-Up

　

　

45

45

45

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.92

-5.55

-13.52

6.91

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

57.95

..

    N.Profit/Sales

0.82

0.84

3.51

4.80

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/07/2011 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.38

UK Pound

1

Rs.74.01

Euro

1

Rs.64.48

 

 

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.