MIRA INFORM REPORT

 

 

Report Date :

14.01.2014

 

IDENTIFICATION DETAILS

 

Name :

KAWABE SHOKAI LTD

 

 

Registered Office :

Osaka-Ekimae No.1 Bldg 7F, 1-3-1 Umeda Kitaku Osaka 530-0001

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

November 1951

 

 

Com. Reg. No.:

1200-01-062401

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of rugs & carpets, house interior goods, woolen yarns

 

 

No. of Employees :

08

 

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

 

KAWABE SHOKAI LTD

 

REGD NAME:    KK Kawabe Shokai

MAIN OFFICE:  Osaka-Ekimae No.1 Bldg 7F, 1-3-1 Umeda Kitaku Osaka 530-0001 JAPAN

Tel: 06-6341-6271     

 Fax: 06-6345-7225

 

URL:                 http://www.kawabe-shokai.jp

E-Mail address: osaka@kawabe-shokai.jp

 

 

ACTIVITIES     

 

Import, export, wholesale of rugs & carpets, house interior goods, woolen yarns

 

 

BRANCHES     

 

Tokyo

 

 

OVERSEAS     

 

China (agents)

 

 

OFFICERS       

 

KAZUHIKO MANABE, PRES

Yoshihide Kawakami, dir

Masahiko Kawamo, dir  

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY       

 

FINANCES        FAIR                             A/SALES          Yen 1,239 M

PAYMENTSNO COMPLAINTS    CAPITAL           Yen 100 M

TREND UP                                WORTH            Yen 370 M

STARTED         1951                             EMPLOYES      8

 

 

COMMENT      

 

TRADING FIRM SPECIALIZING IN UPHOLSTERY.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established originally in 1936 as a trading firm for upholstery and in 1941 was absorbed by the then Ataka Corporation.  In 1951 reorganized restarted with the capital of Yen 4 million.  This is a trading firm specializing in rugs & carpets, house interior goods, upholstery, woolen yarns, other.  Clients include upholstery makers, wholesalers, supermarkets, other.  Goods are imported.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2013 fiscal term amounted to Yen 1,239 million, a 35% up from Yen 918 million in the previous term.  One large account was acquired and sales rose with imports increased much.  The recurring profit was posted at Yen 52 million and the net profit at Yen 51 million, respectively, compared with Yen 50 million recurring profit and yen 50 million net profit, respectively, a year ago.

 

For the current term ending Mar 2014 the recurring profit is projected at Yen 55 million and the net profit at Yen 54 million, respectively, on a 5% rise in turnover, to Yen 1,300 million.  Business is seen expanding steadily. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:       Nov 1951

Regd No.:                 1200-01-062401 (Osaka-Kitaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800,000 shares

Issued:                200,000 shares

Sum:                   Yen 100 million

 

Major shareholders (%): Kazuhiko Manabe (27), Kyoko Manabe (12), Kayoko Iwaoka (9), Yoshihiko Fujimoto (8), Haruhiko Fujimoto (8)

 

No. of shareholders: 34

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

 

 

OPERATION

           

Activities: Trading firm for import, export and wholesale of: rugs & carpets (85%), house interior goods, upholstery (13%), woolen yarns (2%)

 

Clients: [Mfrs, wholesalers] As One Corp, Fuji Light Carpet, Don Quijote Co, Suminoe Textile Co, Kyushu Kirony, other 

No. of accounts: 500

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Off Tree, KSS Forest, Osugi Textile, other.

Imports from China, India, other

 

Payment record: No complaints

 

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

 

Bank References:        SMBC (Osaka-Chuo)

                                    MUFG (Umeda)

                                    Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

1,300

1,239

918

684

Recur. Profit

　

55

52

50

　

Net Profit

　

54

51

50

-101

Total Assets

　

　

1,262

1,036

885

Current Assets

　

　

1,124

903

　

Current Liabs

　

　

231

206

　

Net Worth

　

　

370

324

274

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.92

34.97

34.21

13.06

    Current Ratio

 

..

486.58

438.35

..

    N.Worth Ratio

..

29.32

31.27

30.96

    R.Profit/Sales

 

4.23

4.20

5.45

..

    N.Profit/Sales

4.15

4.12

5.45

-14.77

    Return On Equity

..

13.78

15.43

-36.86

 

Notes: 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.