MIRA INFORM REPORT

 

 

Report Date :

16.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SHIPS LTD

 

 

Registered Office :

Ships Bldg, 1-20-15 Ginza Chuoku Tokyo 104-0061

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

May 1976

 

 

Com. Reg. No.:

(Tokyo-Chuoku) 003570

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Retail of clothing, clothing accessories for men, women and children

 

 

No. of Employees :

500

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 402.3 Million

Status :

Satisfactory

Payment Behaviour :

Regular

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

(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

 

SHIPS LTD

 

 

REGD NAME

           

 

KK Ships

 

 

MAIN OFFICE

 

Ships Bldg, 1-20-15 Ginza Chuoku Tokyo 104-0061 JAPAN

Tel: 03-5524-2255    

Fax: 03-5524-2277

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

E-mail: info@shipsltd.co.jp        

 

 

ACTIVITIES  

 

Retail of clothing, clothing accessories for men, women & children

 

 

BRANCHES   

 

60 stores nationwide

 

 

OVERSEAS   

 

New York

 

 

FACTORIES  

 

(subcontracted)

 

 

OFFICER(S)  

 

YOSHINORI MIURA, PRES        Atsuko Miura, s/mgn dir

Shigeru Hitotsugi, dir                  Yoritsugu Tsuchiya, dir

           

           

Yen Amount    

 

In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          Yen 22,225 M

PAYMENTS      REGULAR         CAPITAL           Yen 60 M

TREND             SLOW              WORTH            Yen 5,634 M

STARTED         1975                 EMPLOYES      500

 

 

COMMENT    

 

APPAREL CHAIN SHOP OPERATOR. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 402.3 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Yoshinori Miura in order to make most of his experience in the subject line of business.  This is a chain shop operator of clothing & clothing accessories, branded “Ships”, for men, women and children.  Operates 60 stores nationwide.  Goods are also retailed online.

 

 

FINANCIAL INFORMATION

 

The sales volume for Feb/2011 fiscal term amounted to Yen 22,225 million, a 1.4% down from Yen 22,535 million in the previous term.  The recurring profit was posted at Yen 65 million and the net profit at Yen 8 million, respectively, compared with Yen 52 million recurring profit and Yen13 million net profit, respectively, a year ago.  .

 

For the current term ending Feb 2012 the recurring profit is projected at Yen 70 million and the net profit at Yen 15 million, respectively, on a 4% rise in turnover, to Yen 23,000 million. 

           

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 402.3 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  May 1976

Regd No.:        (Tokyo-Chuoku) 003570

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　4,800 shares

Issued:             　1,200 shares

Sum:                　Yen 60 million

Major shareholders (%): Yoshinori Miura (56.6), Atsuko Miura (16)

No. of shareholders: 5

 

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

 

 

OPERATION

 

Activities: Retails clothing & clothing accessories for men, women & children, branded “Ships” (--100%)

Operates 60 chain stores nationwide.

 

Clients: Consumers

No. of accounts: Unavailable

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Mitsui & Co, Mitsubishi Corp, Marubeni Corp, Itochu Corp, Yagi Co, Toyoshima & Co, other

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Hakusan)

MUFG (Ueno-Chuo)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

29/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

23,000

22,225

22,535

22,166

Recur. Profit

　

70

65

52

186

Net Profit

　

15

8

13

29

Total Assets

　

　

18,788

20,794

20,130

Current Assets

　

　

7,445

9,135

8,723

Current Liabs

　

　

9,070

9,132

9,102

Net Worth

　

　

5,634

6,980

6,983

Capital, Paid-Up

　

　

60

60

60

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.49

-1.38

1.66

3.85

    Current Ratio

 

..

82.08

100.03

95.84

    N.Worth Ratio

..

29.99

33.57

34.69

    R.Profit/Sales

 

0.30

0.29

0.23

0.84

    N.Profit/Sales

0.07

0.04

0.06

0.13

    Return On Equity

..

0.14

0.19

0.42

 

Notes: Forecast (or estimated) figures for the 28/02/2012 fiscal term. 

           

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.14

 

 

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.