MIRA INFORM REPORT
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Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
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Name : |
BEAUTY KADAN CO LTD |
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Registered Office : |
1-2-16 Yokoami Sumidaku Tokyo 130-0015 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
Jun 2000 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Buddhist
altars; Import, Wholesale of Cut Flowers |
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No. of Employees : |
245 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Japan |
a1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY NAME
BEAUTY KADAN CO LTD
REGD NAME
KK Beauty Kadan
MAIN OFFICE
1-2-16 Yokoami
Sumidaku Tokyo 130-0015 JAPAN
Tel:
03-5819-5670
Fax: 03-5819-5671
*.. The given address is its
Tokyo No.2 Branch Office
URL: http://www.beauty-kandan.com
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
Buddhist altars; import, wholesale of cut flowers
BRANCHES
Tokyo (as
given), Kanagawa, Osaka, Kumamoto, Fukuoka, Asaka, Sendai
OVERSEAS
Taiwan,
China (Shanghai) (--JV firms)
FHIEF EXEC
MISAO
MISHIMA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,122 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
213 M
TREND UP WORTH Yen 565 M
STARTED 2000 EMPLOYES 245
COMMENT
MFG OF BUDDHIST ALTARS; IMPORTER OF CUT FLOWERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$65,000.00.
Unit: In Million Yen
Forecast figures for the 30/06/2012
fiscal term.
HIGHLIGHTS
This
is a specialized firm engaged in planning proposals, manufacture and
installation of Buddhist altars. Has second
mainline in fresh flower wholesaling and distribution. Benefiting from synergies effects with these
2 businesses. In Apr 2003, took 25%
equity stake in Qingdao Horticulture Co Ltd (Shanghai). In Oct 2006, founded JV with Lungyen Life
Service Co in Taiwan, taking 50% equity stake.
Clients include funeral companies, flower markets, retail florists,
other, nationwide.
FINANCIAL INFORMATION
The sales volume for Jun/2011 fiscal
term amounted to Yen 4,122 million, a 2.5% up from Yen 4,021 million in the
previous term. Ironically the Tohoku
Earthquake created additional demand for altars and flowers. By Divisions; Fresh Flower Altars 3.5% to Yen
3,167 million; Fresh Flower Wholesale down 4.2% to Yen 729 million; Bridal Bouquet up 24.4% to Yen 225
million. The recurring profit was posted
at Yen 181 million and the net profit at Yen 125 million, respectively,
compared with Yen 209 million recurring profit and Yen 95 million net profit,
respectively, a year ago.
(Jul/Dec/2011 results): Sales Yen 2,094
million (up 2.3%), operating profit Yen 35 million (down 54.5%), recurring
profit Yen 30 million (down 59.1%), net profit Yen 3 million (down 94.7%). (% compared with the corresponding period a
year ago).
For the current term ending Jun 2012
the recurring profit is projected at Yen 212 million and the net profit at Yen
118 million, on a 9.9% rise in turnover, to Yen 4,530 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. The proposed amount is considered well within
the firm’s financial capabilities.
REGISTRATION
Date Registered: Jun
2000
Legal Status: Limited Company (Kabushiki Kaisha
Authorized: 88,000
shares
Issued:
25,380 shares
Sum: Yen 213 million
Major shareholders (%): Misao Mishima (37.4),
Company’s Treasury Stock (17.4), Employees’ S/Holding Assn (3.6), Yukiko
Mishima (2.3), Ko Shimizu (1.9), Japan Securities Finance (1.5), Yushi Mizuno
(1.3), Kawano Merclone (1.3), Yoshikazu Sato (1.1), Michio Kawano (0.9); foreign
owners0.3)
No. of shareholders:
1,618
Listed on the S/Exchange (s) of:
Tokyo (Mothers)
Managements: Misao Mishima, pres; Shoichi Masuda,
mgn dir; Kaoru Sunami, dir; Hiroshi Aoki, dir; Shin’ichiro Yanagimoto, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies:
Beauty Kadan (Taipei), Crown Gardenex, other.
OPERATION
Activities: Manufactures, installs and arranged
fresh flower altars (77%), wholesales fresh flowers (18%), bridal bouquet (5%).
Clients: [Mfrs, flower markets, consumers]
Epoch Japan, Nishimura Sougisha (funeral parlor), Hanasaki Co, UBL Group
(Kumamoto), Crown Gardenex Co, Kido Sousai, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Growers, mfrs, wholesalers] Ota Floriculture Auction Co, Naniwa Flower Auc-
tion Co, Flower Auction Japan, Ohanabatake Co, Fukuoka
Flower Market, other.
Imports from Taiwan, China, other
Payment record: No
Complaints
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Mizuho
Bank (Kameari)
MUFG
(Katsushika)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
30/06/2011 |
30/06/2010 |
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INCOME STATEMENT |
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Annual Sales |
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4,122 |
4,021 |
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Cost of Sales |
3,318 |
3,082 |
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GROSS PROFIT |
804 |
938 |
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Selling & Adm Costs |
621 |
735 |
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OPERATING PROFIT |
183 |
203 |
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Non-Operating P/L |
-2 |
6 |
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RECURRING PROFIT |
181 |
209 |
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NET PROFIT |
125 |
95 |
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BALANCE SHEET |
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Cash |
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515 |
458 |
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Receivables |
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435 |
387 |
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Inventory |
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15 |
21 |
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Securities, Marketable |
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Other Current Assets |
70 |
76 |
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TOTAL CURRENT ASSETS |
1,035 |
942 |
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Property & Equipment |
294 |
262 |
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Intangibles |
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15 |
31 |
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Investments, Other Fixed Assets |
300 |
269 |
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TOTAL ASSETS |
1,644 |
1,504 |
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Payables |
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75 |
82 |
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Short-Term Bank Loans |
40 |
231 |
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Other Current Liabs |
483 |
395 |
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TOTAL CURRENT LIABS |
598 |
708 |
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Debentures |
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95 |
65 |
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Long-Term Bank Loans |
350 |
202 |
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Reserve for Retirement Allw |
14 |
11 |
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Other Debts |
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22 |
30 |
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TOTAL LIABILITIES |
1,079 |
1,016 |
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MINORITY INTERESTS |
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Common
stock |
213 |
211 |
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Additional
paid-in capital |
133 |
131 |
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Retained
earnings |
308 |
212 |
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Evaluation
p/l on investments/securities |
(7) |
(6) |
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Others |
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60 |
43 |
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Treasury
stock, at cost |
(142) |
(104) |
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TOTAL S/HOLDERS` EQUITY |
565 |
487 |
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TOTAL EQUITIES |
1,644 |
1,504 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
30/06/2011 |
30/06/2010 |
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Cash
Flows from Operating Activities |
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171 |
214 |
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Cash
Flows from Investment Activities |
-115 |
41 |
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Cash
Flows from Financing Activities |
2 |
-27 |
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Cash,
Bank Deposits at the Term End |
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515 |
458 |
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ANALYTICAL RATIOS Terms ending: |
30/06/2011 |
30/06/2010 |
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Net
Worth (S/Holders' Equity) |
565 |
487 |
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Current
Ratio (%) |
173.08 |
133.05 |
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Net Worth
Ratio (%) |
34.37 |
32.38 |
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Recurring
Profit Ratio (%) |
4.39 |
5.20 |
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Net
Profit Ratio (%) |
3.03 |
2.36 |
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Return
On Equity (%) |
22.12 |
19.51 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.72 |
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UK Pound |
1 |
Rs.86.98 |
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Euro |
1 |
Rs.70.64 |
INFORMATION DETAILS
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Report Prepared
by : |
NLM |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.