MIRA INFORM REPORT

 

 

Report Date :

20.02.2012

 

IDENTIFICATION DETAILS

 

Name :

AKAI INC

 

 

Registered Office :

297 Ichirenshacho Takoyakushidori Karasum-Higashi-iru Nakagyoku Kyoto 604-8146

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

December 1952

 

 

Com. Reg. No.:

(Kyoto-Nakagyoku) 019634

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of linen

 

 

No. of Employees :

10

 

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 12.6 Million

Status :

Small Company

Payment Behaviour :

No Complaints

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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 and address

 

AKAI INC

 

REGD NAME:    KK Akai

MAIN OFFICE:  297 Ichirenshacho Takoyakushidori Karasum-Higashi-iru Nakagyoku Kyoto

604-8146 JAPAN

Tel: 075-231-3111      Fax: 075-231-3487

                                               

URL:                 http://homepage2nifty.com/2917

E-Mail address: akaiinc@nifty.com

 

 

ACTIVITIES

 

Import, export, wholesale of linen

 

BRANCHES   

 

Tokyo

 

 

OFFICERS

 

YAICHIRO AKAI, PRES

Yasuo Asai, dir                                                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 700 M

PAYMENTS                  NO COMPLAINTS          CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 216 M

STARTED                     1952                             EMPLOYES      10

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN LINEN.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 12.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established originally in 1913 by S Akai in order to make most of his experience in the subject line of business.  Incorporated in 1958 the firm has been succeeded by his descendants.  Yaichiro is the founder’s grandson.  This is a trading firm for import, export and wholesale of linens. 

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed.

 

The sales volume for Jun/2011 fiscal term amounted to Yen 700 million, an 8% down from Yen 762 million in the previous term.  The net profit was posted at Yen 3 million, compared with Yen 4 million a year ago.

 

            For the current term ending Jun 2012 the net profit is projected at Yen 3 million, on a 3% rise in turnover, to Yen 720 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 12.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1952

Regd No.:         (Kyoto-Nakagyoku) 019634

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:                20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Mike Corp* (30), Yaichiro Akai (10)

*.. Holding company owned by Akai family

No. of shareholders: 16

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales linens, other (--100%)

 

Clients: [Mfrs, wholesalers] Tomorrow Land, UR, Toyo Cloth, Wacoal Corp, Tamurakoma & Co, other

No. of accounts: 300

Domestic areas of activities: Centered in greater-Osaka

Suppliers: [Mfrs, wholesalers] LCN, Filin, Egylin, Kingdom, Qiqihar, other

 

Payment record: No Complaints

 

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

 

Bank References:

MUFG (Kyoto-Chuo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

720

700

762

879

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

4

6

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

216

213

209

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.86

-8.14

-13.31

-15.32

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.42

0.43

0.52

0.68

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/06/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.21

UK Pound

1

Rs.77.75

Euro

1

Rs.64.58

 

 

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.