MIRA INFORM REPORT

 

 

Report Date :

26.04.2012

 

IDENTIFICATION DETAILS

 

Name :

EIKOKUYA CO LTD

 

 

Registered Office :

2-58 Sanmoncho Chigusaku Nagoya 464-0053

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

Jun 1979

 

 

Com. Reg. No.:

1800-02-003703 (Nagoya-Chigusaku)

 

 

Legal Form :

Private Limited Company (Yugen Kaisha)

 

 

Line of Business :

Import, wholesale of teas, curries; operation of Indian restaurant

 

 

No. of Employees :

3

 

 

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 5.95 Million

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

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 – September 30, 2011

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

EIKOKUYA CO LTD

REGD NAME:    YK Eikokuya

 

MAIN OFFICE: 

 

2-58 Sanmoncho Chigusaku Nagoya 464-0053 JAPAN

Tel: 052-763-8477     

Fax: 052-763-5238

                                               

URL:                 http://www.eikokuya-tea.co.jp

E-Mail address: webmaster@eikokuya-tea.co.jp

 

 

ACTIVITIES

 

Import, wholesale of teas, curries; operation of Indian restaurant

 

 

BRANCHES

 

At the caption address (Restaurant & tea house)

 

 

OFFICERS

 

HIROYUKI ARAKAWA, PRES

Eiko Arakawa, dir                                                          

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 271 M

PAYMENTS      Slow but correct CAPITAL           Yen 3 M

TREND             SLOW              WORTH            Yen 38 M

STARTED                     1979                 EMPLOYES      3

 

 

COMMENT

           

IMPORTER OF TEAS; OPERATION OF INDIAN RESTAURANT.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 5.95 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established by E Arakawa in order to make most of his experience in the subject line of business.  Hiroyuki is his son.  This is a family-based trading firm for import and wholesale of teas, curries, dried fruits, other, and operates an Indian restaurant at the caption address.  Teas are imported from India and Sri Lanka.  Clients include major department stores, food makers, other, nationwide.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for May/2011 fiscal term amounted to Yen 271 million, a 6% down from Yen 287 million in the previous term.  The net profit was posted at Yen 1 million, similarly in the previous period.

 

            For the current term ending May 2012 the net profit is projected at Yen 1 million, on a 5% rise in turnover, to Yen 285 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 5.95 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Jun 1979

Regd No.:                                 1800-02-003703 (Nagoya-Chigusaku)

Legal Status:               Private Limited Company (Yugen Kaisha)

Regd Capital:               Yen 3 million

Major shareholders (%): Hiroyuki Arakawa, Eiko Arakawa (--100)

No. of shareholders:    2

           

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

 

 

OPERATION

           

Activities: Imports and wholesales teas, curries, dried fruits, other; operates an Indian restaurant (--100%)

 

Clients: [Department stores, wholesalers] Itochu Corp, Meidi-Ya Co, Kokubu & Co, Mitsubishi Shokuhin Co, Mitsui Foods, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Dan Foods Co, other.

Imports from India, Sri Lanka, other

 

Payment record: Slow but correct

 

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

 

 

Bank References

 

Mug (Nagoya)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

31/05/2012

31/05/2011

31/05/2010

31/05/2009

Annual Sales

　

285

271

287

288

Recur. Profit

　

　

　

　

1

Net Profit

　

1

1

1

9

Total Assets

　

　

N/A

104

N/A

Net Worth

　

　

38

37

36

Capital, Paid-Up

　

　

3

3

3

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.17

-5.57

-0.35

2.13

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

35.58

..

    N.Profit/Sales

0.35

0.37

0.35

3.13

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/05/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.48

UK Pound

1

Rs.84.65

Euro

1

Rs.69.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.