MIRA INFORM REPORT

 

 

Report No. :

316467

Report Date :

13.04.2015

 

IDENTIFICATION DETAILS

 

Name :

CSP CORPORATION

 

 

Registered Office :

11-1 Honcho Nishinomiya City Hyogo-Pref 662-0914

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

March 1986

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Retail, wholesale of apparel, sundries, other

 

 

No of Employees :

125

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

COMPANY NAME

 

CSP CORPORATION

 

 

REGD NAME   

 

C. S. P. KK

 

 

MAIN OFFICE  

 

11-1 Honcho Nishinomiya City Hyogo-Pref 662-0914 JAPAN

Tel: 0798-39-1101      Fax: 0798-39-1103

*.. The is one of its 44 retail stores “CHU XXX” Brand

 

URL:                 http://www.csp-corp.co.jp

E-Mail address: info@csp-corp.co.jp

 

 

ACTIVITIES     

 

Retail, wholesale of apparel, sundries, other

 

 

BRANCHES     

 

“CHU XXX” Brand stores nationwide (44 stores)

 

 

OVERSEAS     

 

Shanghai (China)

 

 

FACTORIES    

 

(subcontracted)

 

 

OFFICERS       

 

YASUHIRO OHTA, PRES                       Masato Imai, s/mgn dir

Masumi Ohta, mgn dir                           Hiroshi Sano, dir

Masahiro Itoh, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY      

 

FINANCES        R/WEAK           A/SALES          Yen 4,702 M

PAYMENTS      SLOW               CAPITAL           Yen 99 M

TREND UP                    WORTH            Yen (-) 50 M    

STARTED         1986                 EMPLOYES      125

 

 

COMMENT      

 

TRADING FIRM SPECIALIZING IN APPAREL & SUNDRIES.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Yasuhiro Ohta in order to make most of his experience in the subject line of business.  This a trading firm with import, export, retail and wholesale of apparel & sundries.  These are the two divisions they operate.  The retail stores are “CHU XXX” Brand names, with 44 stores operated nationwide.  55% of the goods are retailed.  Clients include supermarkets, volume discount stores, apparel stores, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2014 fiscal term amounted to Yen 4,702 million, a 3% up from Yen 4,546 million in the previous term.  The operations continued in the deficit to post Yen 199 million net losses for the term, compared with Yen 181 million net losses a year ago.

 

For the term that ended Mar 2015 the operations were projected to come back to profitability but still limited to a minimum amount post-taxes, on a 3% rise in turnover, to Yen 4,850 million.  Final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business ngagements. 

 

 

REGISTRATION

    

Date Registered:                       Mar 1986

Legal Status:                Limited Company (Kabushiki Kaisha)

Authorized:                  800,000 shares

Issued:                                     198,000 shares

Sum:                             Yen 99 million

Major shareholders (%):           Yasuhiro Ohta (47), Orix Capital, Employees’ S/Holding Assn,     Masao Ishida, Masumi  Ohta, other (--55)

 No. of shareholders:                10

 

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

 

OPERATION

           

Activities: Trading firm for import, export, retail and wholesale of apparel (ladies’ outer & inner wears, other), sundries (apron, bath mats, stuffed dolls, pouches, cushions, other), other (--100%).

 

Retails account for 55% of total sales with 44 retail stores operated nationwide.

 

Clients: [Consumers, mfrs, wholesalers] Consumers (55%), Aeon Group firms, Shimamura, Palemo Co, Passport Co, Proroute Marumitsu, Dong Quijote Holdings, Ito-Yokado, Uny Corp, other 

No. of accounts: 500

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Yamamotosada Co, Madey Co, other.

     Imports from China, Korea, etc

 

Payment record: Slow

 

Location: Business area in Nishinomiya City, Hyogo-Pref.  Office premises at the caption address are leased and maintained satisfactory.

 

Bank References:

                        Resona Bank (Amagasaki-Kita)

                        Mizuho Bank (Amagasaki)

                        Relations: Satisfactory

 

 

FINANCES (IN MILLION YEN)

 

       Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

Annual Sales

　

4,850

4,702

4,546

5,189

Recur. Profit

　

　

　

　

　

Net Profit

　

0

-199

-181

3

Total Assets

　

　

1,805

1,881

1,872

Current Assets

　

　

1,218

1,188

1,220

Current Liabs

　

　

1,196

1,097

1,246

Net Worth

　

　

-50

152

330

Capital, Paid-Up

　

　

99

110

110

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

3.15

3.43

-12.39

13.69

    Current Ratio

　

..

101.84

108.30

97.91

    N.Worth Ratio

　

..

-2.77

8.08

17.63

    R.Profit/Sales

　

..

..

..

..

    N.Profit/Sales

　

0.00

-4.23

-3.98

0.06

    Return On Equity

　

..

..

-119.08

0.91

 

Notes: Forecast (or estimated) figures for the Mar/2015 fiscal term.

 

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.