MIRA INFORM REPORT

 

 

Report Date :

20.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MILLESIMES INC

 

 

Registered Office :

Kanda 4th Amerex Bldg, 2-13 Kanda-Tsukasacho Chiyodaku Tokyo 101-0048

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

July 1997

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Travel agency; import, wholesale of wines, cigars

 

 

No. of Employees :

60

 

 

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 34.2 Million

Status :

Moderate

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

 

MILLESIMES INC

REGD NAME:    KK Millesimes

MAIN OFFICE:  Kanda 4th Amerex Bldg, 2-13 Kanda-Tsukasacho Chiyodaku Tokyo 101-0048

                                    JAPAN

Tel: 03-3233-3801     Fax: 03-3295-5619

                       

URL:                 http://www.millesimes.co.jp

E-Mail address: info@millesimes.co.jp; esiinger@millesimes.co.jp

 

 

ACTIVITIES

 

Travel agency; import, wholesale of wines, cigars

 

LICENSE

 

(Travel agency) Ministry of LIT No. 1503

 

BRANCHES   

 

Nil

 

FACTORIES  

 

Tokyo (Warehouse)

 

 

OFFICERS

 

ERNEST SINGER, PRES                                  

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,900 M

PAYMENTS                  NO COMPLAINTS          CAPITAL           Yen 220 M

TREND             SLOW                          WORTH            Yen 314 M

STARTED                     1997                             EMPLOYES      60

 

 

COMMENT    

 

TRAVEL AGENCY; IMPORTER OF WINES & CIGARS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 34.2 MILLION, 30 DAYS NORMAL TERMS.  .

 

 

HIGHLIGHTS

           

            The subject company was established by Ernest Singer, US resident, in order to make most of his experience in the subject line of business.  Started as travel agency and gradually expanded business operations to import and wholesale of wines & cigars.  Travel agency business is extended to US military forces, having a branch in one of the US military bases.             Wines are imported from wine brewing countries world over, while cigars are mostly from Spain. Clients include major department stores, hotels, restaurants, wine dealers, other, nationwide.

 

 

FINANCIAL INFORMATION

           

            Financials are only partially disclosed as from Mar/2009 fiscal term

 

The sales volume for Mar/2011 fiscal term amounted to Yen 1,900 million, a 10% down from Yen 2,100 million in the previous term.  Consumer spending was sluggish.  High Yen ate into earnings & profits in Yen terms.  The net profit was posted at Yen 1 million, similarly in the previous period.

 

For the current term ending Mar 2012 the net profit is projected at Yen 2 million, on a 3% rise in turnover, to Yen 1,950.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 34.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Jul 1997

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         4,400 shares

Issued:                4,400 shares

Sum:                   Yen 220 million

Major shareholders (%): Ernest Singer (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Travel agency (50%); imports and wholesales wines (45%), cigars (5%).

 

Travel business is offered to US military forces in Japan.

Wines are imported from France, Italy, Spain, Australia, other.

Cigars are imported mainly from Spain.

 

Clients: [Department stores, hotels, restaurants] Tokyu Department Stores, Daimaru                                  Matsuzakaya, Mitsukoshi Isetan, Seibu Department Store, Hanshin Department Store,

Imperial Hotel, Keio Department Store, Hotel Okura, Chinzan-So, Four Seasons Hotel, Palace Hotel, Blue Note Japan, Queen Alice, The Georgian Club, Tsubaki Dew Drop Inn, other.

For travel agency, clients include US military forces Japan. 

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Wineries, negociants, wholesalers] Wines are Imported from France, Italy, Australia, New Zealand, Argentina, South Africa, Spain, USA, Israel, Portugal, etc. 

Cigars are mainly from Spain.

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Kanda)

MUFG (Kanda)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

1,950

1,900

2,100

2,460

Recur. Profit

　

　

　

　

　

Net Profit

　

2

1

1

-42

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

314

313

312

Capital, Paid-Up

　

　

220

220

220

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.63

-9.52

-14.63

31.62

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.10

0.05

0.05

-1.71

Note: Financials are only partially disclosed as from the 31/03/2009 fiscal term.

Forecast (or estimated) for the 31/03/2012 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.