MIRA INFORM REPORT

 

 

Report Date :

10.07.2013

 

IDENTIFICATION DETAILS

 

Name :

HOKUO SANGYO CO LTD

 

 

Registered Office :

Sakamoto Bldg 1F, 2-12-4 Kita-Aoyama Minatoku Tokyo 107-0061

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

March  1958

 

 

Com. Reg. No.:

0104-01-027418 (Tokyo-Minatoku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale, retail of silver accessories, beads accessories

 

 

No. of Employees :

30

 

 

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 AND ADDRESS

 

HOKUO SANGYO CO LTD

REGD NAME:   Hokuo Sangyo KK (Hokuo means North Europe)

MAIN OFFICE:  Sakamoto Bldg 1F, 2-12-4 Kita-Aoyama Minatoku Tokyo 107-0061 JAPAN

Tel: 03-3403-7026     Fax: 03-3475-5060

 

URL:                 http://www.hokuosangyo.com

E-mail Address:            info@hokuosangyo.com           

 

ACTIVITIES:     Import, wholesale, retail of silver accessories, beads accessories

BRANCHES:     Tokyo, Osaka, Fukuoka (--showrooms)

FACTORIES:    (subcontracted)

 

OFFICER(S):     KIYOSHI WAKAYAMA, PRES

Hiromasa Namiki, ch

                        Norio Namiki, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY:      FINANCES        FAIR                 A/SALES          Yen 889 M

                        PAYMENTS      REGULAR         CAPITAL           Yen 40 M

                        TREND             SLOW               WORTH                        Yen 651 M

                        STARTED         1958                 EMPLOYES      30

                                                                       

COMMENT:      TRADING FIRM SPECIALIZING IN SILVER & BEADS ACCESSORIES,

                        OWNED BY NAMIKI CO LTD . 

FINANCIAL SITUATION CONSIDERED  AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

                        MAX CREDIT LIMIT: YEN 16.2 MILLION, 30 DAYS NORMAL TERMS. 

           

HIGHLIGHTS:

           

            The subject company was established on the basis of a trading division separated from Namiki Co Ltd, mfr of jewelry, Saitama (See REGISTRATIO)..  Hiromasa Namiki is concurrently pres at the parent.  This is a trading firm specializing in import and wholesale of silver & beads accessories.  Goods are mostly shipped to the parent, Namiki Co Ltd and group companies.  Partially retails them online.  70% of the goods are imported from S/E Asian makers.

 

FINANCIAL INFORMATION:

 

            Financials are only partially disclosed.

 

The sales volume for Mar/2013 fiscal term amounted to Yen 889 million, a 10% down from Yen 989 million in the previous term.  The net profit was posted at Yen 2 million, compared with Yen 14 million a year ago.

  .

For the CURRENT term ENDING Mar 2014 the net profit was projected at Yen 25million, on a 5% rise in turnover, to Yen 930 million.  Fukuoka showroom will be opened.  Weaker Yen will contribute to increase sales amount in Yen terms.

 

            The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 16.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:        Mar 1958

Regd No.:                  0104-01-027418 (Tokyo-Minatoku)

Legal Status:    　Limited Company (Kabushiki Kaisha)

Authorized:      　320,000 shares

Issued:             　80,000 shares

Sum:                　Yen 40 million

Major shareholders (%): Namiki Co Ltd* (95), Kiyoshi Wakayama (5)

No. of shareholders: 2

 

*.. Jewelry mfr, Saitama, founded 1971, capital Yen 30 million, sales Yen 4,300 million, net profit Yen 21 million, employees 86, pres Hiromasa Namiki

 

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

 

OPERATION:

 

Activities: Imports, wholesales and retails (online) silver accessories 70%), natural stones/beads accessories (20%), other (10%)

 

Clients: [Mfrs, wholesalers] Namiki Co Ltd, jewelry stores, jewelry processors, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from S/E Asian makers (70%), Europe, USA, other.

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Aoyama)

Mizuho Bank (Aoyama)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

930

889

989

839

Recur. Profit

　

..

..

..

..

Net Profit

　

25

2

14

24

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

651

649

640

Capital, Paid-Up

　

　

40

40

40

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.61

-10.11

17.88

1.57

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.69

0.22

1.42

2.86

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2014 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.