MIRA INFORM REPORT

 

 

Report Date :

16.08.2013

 

IDENTIFICATION DETAILS

 

Name :

FASIC CO LTD

 

 

Registered Office :

63-1 Gosai Sanjo Ichinomiya Aichi-Pref 494-0003

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

September  1974

 

 

Com. Reg. No.:

1800-01-083560 (Aichi-Ichinomiya)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of men’s apparel, accessories

 

 

No. of Employees :

26

 

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

 

 

COMPANY NAME

 

FASIC CO LTD

 

 

REGD NAME

 

KK Fasic

 

 

MAIN OFFICE

 

63-1 Gosai Sanjo Ichinomiya Aichi-Pref 494-0003 JAPAN

Tel: 0586-63-2300     

Fax: 0586-63-2322

 

*.. The is its Tokyo agent office

 

URL:                 Error! Hyperlink reference not valid.

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Import, wholesale of men’s apparel, accessories

 

BRANCHES     

 

Tokyo (agent as given)

 

OVERSEAS

 

China, Indonesia

 

FACTORIES     

 

China (3), Indonesia (opened in 2011)

 

 

OFFICERS

 

KAZUNARI SHIBATA, PRES     

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY       

 

FINANCES                    FAIR                             A/SALES          Yen 6,347 M

PAYMENTS      SLOW BUT CORRECT   CAPITAL           Yen 25 M

TREND             UP                                WORTH            Yen 613 M

STARTED                     1974                             EMPLOYES      26

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN MEN’S CLOTHING.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 51.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

This is a trading firm, with mfg division, for import and wholesale of men’s apparel: dresses, suits, slacks, other (See OPERATION).  Mfg is all subcontracted to its subsidiaries in China (3) and Indonesia.  The Indonesian Factory was opened in 2011.  Goods are imported.  Goods are wholly supplied to Aoki Corp, men’s apparel chain stores.

 

 

FINANCIAL INFORMATION

           

The sales volume for Jun/2012 fiscal term amounted to Yen 6,347 million, an 18% up from Yen 5,390 million in the previous term.  The newly established Indonesian subsidiary factory fully contributed.  The recurring profit was posted at Yen 132 million and the net profit at Yen 28 million, respectively, compared with Yen 163 million recurring profit and Yen 16 million net profit, respectively, a year ago.

 

For the term that ended Jun 2013 the recurring profit was projected at Yen 135 million and the net profit at Yen 30 million, respectively, on a 3% rise in turnover, to Yen 6,550 million.  Final results are yet to be released. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 51.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Sept 1974

Regd No.:                                 1800-01-083560 (Aichi-Ichinomiya)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  200,000 shares

Issued:                         40,000 shares

Sum:                            Yen 25 million

Major shareholders (%): Kazunari Shibata (37), Kinji Adachi (36), Kayoko Adachi (15), Fashion Sewing (11),

 Alta Moda Co (10)

No. of shareholders:    8

 

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

 

 

OPERATION

           

Activities: Imports and wholesales men’s apparel: suits, formal wear, bulzons, trousers, pants, jackets, slacks, other (--100%)

Goods are manufactured at its subsidiary factories in China (3) and Indonesia

 

Clients: [Apparel chain store] Supplied wholly to Aoki Co 

No. of accounts: 1

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Takisada Nagoya, Toyama & Co, Takaoka & Co, Homeostyle Co, other

 

Payment record: Slow but correct

 

Location: Business area in Ichinomiya, Aichi-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Ichinomiya)

Ichii Shinkin Bank (Ekinishi)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/06/2013

30/06/2012

30/06/2011

30/06/2010

Annual Sales

　

6,550

6,347

5,390

4,743

Recur. Profit

　

135

132

163

　

Net Profit

　

30

28

16

16

Total Assets

　

　

5,152

4,056

3,593

Current Assets

　

　

4,249

3,200

　

Current Liabs

　

　

2,943

2,244

　

Net Worth

　

　

613

587

573

Capital, Paid-Up

　

　

25

25

25

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.20

17.76

13.64

1.48

    Current Ratio

 

..

144.38

142.60

..

    N.Worth Ratio

..

11.90

14.47

15.95

    R.Profit/Sales

 

2.06

2.08

3.02

..

    N.Profit/Sales

0.46

0.44

0.30

0.34

    Return On Equity

..

4.57

2.73

2.79

 

Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal term.

 

 

 

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.