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Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MAGNET CO LTD |
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Registered Office : |
Osaka Fujin Kodomo Fuku Kaikan 6F, 2-3-15 Kyutaromachi Chuoku Osaka, 541-0056 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
February 2002 |
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Com. Reg. No.: |
1200-02-050955 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of women’s apparel & accessories |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
Company name MAGNET CO LTD
REGD NAME: YK
Magnet
MAIN OFFICE: Osaka
Fujin Kodomo Fuku Kaikan 6F, 2-3-15 Kyutaromachi Chuoku Osaka 541-
0056 JAPAN
Tel:
06-6271-7575 Fax: 06-6271-7576
E-Mail address: info@magnet.2002.jp
ACTIVITIES: Import, wholesale of women’s
apparel & accessories
BRANCHS: Tokyo
OVERSEAS: Korea, China, Thailand, India,
Nepal (--subcontracted factories)
OFFICERS: MASAHIKO NISHIDA,
PRES
Kiyoshi
Nishida, ch
Keiko
Nishida, dir
Yen
Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 630 M
PAYMENTS Unknown
CAPITAL Yen 3 M
TREND SLOW WORTH Yen
58 M
STARTED 2002 EMPLOYES 21
COMMENT: IMPORTER OF
APPAREL & ACCESSORIES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 11.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS:
The subject company was established by Kiyoshi Nishida in order to make most of his experience in the subject line of business. Masahiko is his son, who took the pres office in Jul 2007. This is a trading firm for import and wholesale of women’s apparel & accessories. Goods are subcontracted to overseas factories and imported from; China, Korea, Thailand, India, Nepal, other. Domestic clients are ladies’ apparel shops, other
FINANCIAL INFORMATION:
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for Apr/2012 fiscal term amounted to Yen 630 million, a 4% down from Yen 653 million in the previous term. Sales were hurt by the high Yen, reducing earnings and profit in Yen terms. The net profit was posted at Yen 4 million, compared with Yen 20 million a year ago.
For the current term ending Apr 2013 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 650 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 11.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
2002
Regd No.: 1200-02-050955 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240 shares
Issued:
60 shares
Sum: Yen 3 million
Major shareholders
(%): Kiyoshi Nishida (67), Masahiko Nishida (33)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION:
Activities: Imports and wholesales women’s apparel & accessories: stools, hats, belts, bags, shoes, other (--100%)
Clients: Apparel shops for ladies
No. of accounts: 100
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Imports from subcontracted mfrs in Korea, China, India, Nepal, Thailand, other
Payment record: Unknown
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Mikuni)
SMBC
(Midosuji)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
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Annual
Sales |
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650 |
630 |
653 |
419 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
3 |
20 |
10 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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58 |
55 |
35 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
3.17 |
-3.52 |
55.85 |
-17.52 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.77 |
0.48 |
3.06 |
2.39 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2013 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 |
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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.