MIRA INFORM REPORT
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Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
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Name : |
IVANO CO LTD |
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Registered Office : |
2-9-7 Irijima Urasoe City Okinawa 901-2123
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
August 1974 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale, Retail, Mfg of foods |
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 54.4 Million |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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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
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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
IVANO CO LTD (RENAMED IN JAN/1995)
REGD NAME
KK Ivano
MAIN OFFICE
2-9-7 Irijima
Urasoe City Okinawa 901-2123 JAPAN
Tel:
098-879-6253 Fax: 098-877-3923
*.. The given address is its Factory in Minatogawa
E-Mail address: info@ivano.co.jp
ACTIVITIES
Import, wholesale, retail, mfg of foods
BRANCHES
Urasoe
(2), Makiminato (--stores)
FACTORIES
Minatogawa
as given
OFFICERS
HIDEKI
TAIRA, PRES Yukio
Taira, ch
Hisamitsu
Miyagi, dir Hideyuki
Matayoshi, dir
Susumu
Taira, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 2569 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen
482 M
STARTED 1974 EMPLOYES 85
COMMENT
TRADING FIRM, WITH MFG DIVISION, SPECIALIZING IN FOODS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 54.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1963 by Yukio Taira on his account, as Ivano Shokai Co Ltd. Incorporated in 1974. Hideki is his son. Renamed as captioned in Jan 1955. This is a trading firm, with mfg division, for import, wholesale and retail of livestock products, fishes, wine, other. Operates three stores. Goods are shipped to hotels, restaurants, specialty stores, other in Okinawa.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 2,569 million, a similar amount in the previous term. The recurring profit was posed at Yen 1 million and the net profit at Yen 1 million, respectively, compared with Yen 37 million recurring profit and Yen 39 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 10 million and the net profit at Yen 10 million, respectively, on a 5% rise in turnover, to Yen 2,700 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 54.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1974
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): A&W Makiminato (22),
Keisuke Uechi (10), Yukio Taira (10), Hideki Taira (10)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, wholesales, retails & manufactures foods/foodstuff: beef, pork, chicken, cheese, wines, jam, sausage, fish, fishery products, other (--100%).
Clients: [Mfrs, wholesalers, hotels] A&W Okinawa, A&W Makiminato, Panorama Hotels One, HPD Corp, other
No. of accounts: 300
Domestic areas of activities: Centered in Okinawa
Suppliers: [Mfrs, wholesalers] Mitsui & Co, Mitsubishi Corp, Kanematsu Corp, Sumitomo Corp, Maruha Nichiro Foods, other
Payment record: Regular
Location:
Business area in Urasoe City, Okinawa.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
· Bank of the Ryukyus (Shogyo Danchi)
· Mizuho Bank (Naha)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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2,700 |
2,569 |
2,582 |
2,792 |
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Recur.
Profit |
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10 |
1 |
37 |
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Net Profit |
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10 |
1 |
39 |
-42 |
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Total
Assets |
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1,535 |
1,558 |
1,740 |
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Current
Assets |
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648 |
645 |
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Current
Liabs |
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767 |
800 |
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Net
Worth |
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482 |
481 |
442 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
5.10 |
-0.50 |
-7.52 |
-11.25 |
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Current Ratio |
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.. |
84.49 |
80.63 |
.. |
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N.Worth Ratio |
.. |
31.40 |
30.87 |
25.40 |
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R.Profit/Sales |
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0.37 |
0.04 |
1.43 |
.. |
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N.Profit/Sales |
0.37 |
0.04 |
1.51 |
-1.50 |
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Return On Equity |
.. |
0.21 |
8.11 |
-9.50 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.47 |
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UK Pound |
1 |
Rs.74.96 |
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Euro |
1 |
Rs.65.79 |
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.