MIRA INFORM REPORT

 

 

Report Date :

05.05.2012

 

IDENTIFICATION DETAILS

 

Name :

AGREAM CORPORATION

 

 

Registered Office :

Akasaka Tameike Bldg 5F, 2-12-18 Akasaka Minatoku Tokyo 107-0052

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

Feb 2009

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of cut flowers, foliage

 

 

No. of Employees :

5

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

AGREAM CORPORATION

REGD NAME:    KK Agream

 

MAIN OFFICE: 

Akasaka Tameike Bldg 5F, 2-12-18 Akasaka Minatoku Tokyo 107-0052 JAPAN

Tel: 03-6459-1802      Fax: 03-3588-0616

 

*.. Moved to the caption address from the former, as given

                                               

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

E-Mail address: sales@agream.co.jp

 

 

ACTIVITIES  

 

Import, wholesale of cut flowers, foliage

 

 

BRANCHES

 

Nil

 

 

OVERSEAS

 

China (Joint-Venture)

 

 

OFFICERS

 

YOSHIHIRO SUGAI, PRES                                                       

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    R/WEAK           A/SALES          Yen 600 M

PAYMENTS      Slow                 CAPITAL           Yen 10 M

TREND             SLOW              WORTH            Yen 14 M

STARTED                     2009                 EMPLOYES      5

 

COMMENT    

 

TRADING FIRM FOR IMPORT OF CUT FLOWERS.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR CREDIT ENGAGEMENTS: US$80,000.00

                     

 

HIGHLIGHTS

           

            The subject company was established by Yoshihiro Sugai in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of cut flowers & foliage.  Flowers re imported from China, Columbia, other.  Flowers include chrysanthemums, rose, carnations, other.  Operates a JV firm in China.  Clients include flower markets, ceremony operators, flower shops, consumers, other.

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed.

 

The sales volume for Sept/2011 fiscal term amounted to Yen 600 million, a similar amount in the previous term.  The net profit was posted at Yen 1 million, compared with Yen 2 million a year ago.

 

            For the current term ending Sept 2012 the net profit is projected at Yen 2 million, on an 8% rise in turnover, to Yen 650 million.  The March Earthquake created additional demand for flowers. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  .  The proposed amount is considered within the firm’s financial capacities.

 

 

REGISTRATION

 

Date Registered:  Feb 2009

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Yoshihiro Sugai (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Imports and wholesales cut flowers & foliage: roses, chrysanthemums, carnations, mainly from Columbia, China, other (--100%)

 

Clients: [Flower markets, home centers, ceremony arrangers, flower shops] Mum Trading, other

No. of accounts: 300

Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Growers, wholesalers] Imports from China, Columbia, other.

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Bank (Akasaka)

Sawayaka Shinkin Bank (Shibuya)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

30/09/2012

30/09/2011

30/09/2010

30/09/2009

Annual Sales

　

650

600

600

250

Recur. Profit

　

　

　

　

　

Net Profit

　

2

1

2

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

14

13

11

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.33

0.00

140.00

       - - -

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.31

0.17

0.33

0.40

 

Notes: Financials are only partially disclosed.  The 30/09/2009 term is the initial accounting term from the inception.

Forecast (or estimated) figures for the 30/09/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.72

UK Pound

1

Rs.86.98

Euro

1

Rs.70.64

 

 

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.