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Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKYO KANKAN CO LTD |
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Registered Office : |
1-47-1 Daita Setagayaku Tokyo 155-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
March 1977 |
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Com. Reg. No.: |
0109-01-007928 (Tokyo-Setagayaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, retail of antique furniture, folk handicrafts, accessories, other |
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No. of Employees : |
60 |
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 |
COMPANY NAME AND
ADDRESS
TOKYO KANKAN CO LTD
REGD NAME: KK
Tokyo Kankan
MAIN OFFICE: 1-47-1
Daita Setagayaku Tokyo 155-0033 JAPAN
Tel:
03-5486-3123 Fax: 03-5486-1661
E-Mail address: info@kankan.co.jp
ACTIVITIES: Import,
wholesale, retail of antique furniture, folk handicrafts, accessories, other
STORE(S): Tokyo
(9), Osaka (2), Kanagawa (2), Chiba (2), Saitama
SHOWROOM: At
the caption address
OFFICER(S): HIROSHI
OGAWA, PRES
Kei Ogawa, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 1,177 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
246 M
STARTED 1977 EMPLOYES 60
COMMENT: TRADING FIRM FOR IMPORT, WHOLESALE AND
RETAIL OF FOLK HANDI
CRAFTS, FURNITURE
AND OTHER FOLK GOODS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
BUT DOUBTFUL FOR: US$10,000,000.00 / DA TERMS
MAX CREDIT LIMIT: YEN 16.5 MILLION, 30 DAYS
NORMAL TERMS
HIGHLIGHTS:
The subject
company was established by Hiroshi Ogawa in order to import antique goods centrally
from Africa, and gradually expanded import sources into Asian countries and
Europe. Handling items also expanded to
antique furniture, textiles, garments, accessories, primitive arts, other. The firm lends collections to art galleries,
museums, etc. Goods are imported from
African countries, Korea, India, and other Asian countries. Operates 13 stores centrally in Tokyo. Clients include National Museum of ethnology,
major department stores, other.
FINANCIAL
INFORMATION:
The sales volume for
Mar/2012 fiscal term amounted to Yen 1,177 million, a 3% down from Yen 1,208
million in the previous term. The
recurring profit was posted at Yen 17 million and the net profit at Yen 12
million, respectively, compared with Yen 25 million recurring profit and Yen 9
million net profit, respectively, a year ago.
For the term that
ended Mar 2013 the recurring profit was projected at Yen 20 million and the net
profit at Yen 15 million, respectively, on a 5% rise in turnover, to Yen 1,230
million. Final results are yet to be
released.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 16.5 million, on 30 days normal terms.
REGISTRATION
Date Registered:
Mar 1977
Regd No.:
0109-01-007928 (Tokyo-Setagayaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders (%): Hiroshi Ogawa (85),
Kei Ogawa (13), Gohachiro Kurono (2)
No. of
shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION:
Activities: Imports,
wholesales and retails antique vases, jewelry, antique furniture, lighting
fixtures (-40%), primitive arts (masks, statues, etc), china, glass beads,
silver, handbags, shoals, scarves, accessories, other (--60%).
Goods are also sold online, too.
(Import 100%, wholesale 60%, retail 40%)
Clients: [Department
stores, chain stores, consumers] Matsuya, Takashimaya, Amina Collection, Tomo
Corporation, National Museum of Ethnology, other.
No. of accounts:
500 (Wholesale div only)
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from Africa, India, Indonesia, Belgium, France,
Thailand, Turkey, Philippines, China, Korea, Nepal, Vietnam, etc.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Shimokitazawa)
MUFG (Aoyama)
Relations: Satisfactory
FINANCES:
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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1,230 |
1,177 |
1,208 |
987 |
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Recur.
Profit |
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20 |
17 |
25 |
19 |
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Net
Profit |
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15 |
12 |
9 |
4 |
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Total
Assets |
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1,072 |
937 |
964 |
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Current
Assets |
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597 |
468 |
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Current
Liabs |
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311 |
225 |
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Net
Worth |
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246 |
234 |
225 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.50 |
-2.57 |
22.39 |
8.70 |
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Current Ratio |
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.. |
191.96 |
208.00 |
.. |
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N.Worth Ratio |
.. |
22.95 |
24.97 |
23.34 |
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R.Profit/Sales |
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1.63 |
1.44 |
2.07 |
1.93 |
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N.Profit/Sales |
1.22 |
1.02 |
0.75 |
0.41 |
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Return On Equity |
.. |
4.88 |
3.85 |
1.78 |
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Notes: Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
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 |
-- |
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.