MIRA INFORM REPORT

 

 

Report No. :

320863

Report Date :

02.05.2015

           

IDENTIFICATION DETAILS

 

Name :

LIVINS CO LTD

 

 

Registered Office :

2-7-5 Funairi-Minami Nakaku Hiroshima 730-0847

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

April 1970

 

 

Com. Reg. No.:

2400-01-019575

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of furniture, wooden fittings

 

 

No of Employees :

50

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

Company name

 

LIVINS CO LTD

 

 

REGD NAME   

 

Livins KK

 

 

MAIN OFFICE

 

2-7-5 Funairi-Minami Nakaku Hiroshima 730-0847 JAPAN

Tel: 082-292-2673      Fax: 082-292-2741

 

URL:                 http://www.livins.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES     

 

Import, export, wholesale of furniture, wooden fittings

 

 

BRANCHES     

 

Saga (4 locations) (--warehouses)

 

 

OVERSEAS     

 

China (2), Vietnam

 

 

OFFICERS       

 

MASATO MATSUSHITA, PRES  Seiki Suyama, dir

Naohiro Shimoe, dir                               Masayuki Taneda, dir

Keita Katayama, dir                               Miyuki Morii, dir

                       

Yen Amount:                             In million Yen, unless otherwise stated

 

 

SUMMARY      

 

FINANCES        FAIR                             A/SALES          Yen 10,245 M

PAYMENTSSLOW BUT CORRECT         CAPITAL           Yen 257 M

TREND UP                                WORTH            Yen 986 M       

STARTED         1970                             EMPLOYES      50

 

COMMENT      

 

TRADING FIRM SPECIALIZING IN FURNITURE.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

            This is a joint purchasing company of furniture & fittings for 70 retail shops in the western part of Hiroshima.  Goods are imported from China, Vietnam, other. 

 

 

FINANCIAL INFORMATION

           

            The sales volume for Jun/2014 fiscal term amounted to Yen 10,245 million, a 5% up from

Yen 9,791 million in the previous term.  The recurring profit was posted at Yen 45 million and the net profit at Yen 22 million, respectively, compared with Yen 40 million recurring profit and Yen 24 million net profit, respectively, a year ago.

 

            For the current term ending Jun 2015 the recurring profit is projected at Yen 50 million and the net profit at Yen 25 million, respectively, on a 3% rise in turnover, to Yen 10,550 million. 

 

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

 

 

REGISTRATION

    

Date Registered:                                   Apr 1970

Regd No.:                                             2400-01-019575 (Hiroshima-Nakaku)

Legal Status:                            Limited Company (Kabushiki Kaisha)

Authorized:                              2 million shares

Issued:                                     514,680 shares

Sum:                                        Yen 257.34 million

Major shareholders (%):                       Membership retailers (Livins Fujii, Katayama Furniture, Taneda,    Maruyasu Furniture, Katayama, other)

No. of shareholders:                             47

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales furniture, wooden fittings (for partition), other (--100%)

 

Clients: [Mfrs, wholesalers] Maruyasu Furniture, Takara Co, Katayama Furniture, Sakai Furniture, Taneda, other 

No. of accounts: 70

Domestic areas of activities: Limited in Hiroshima

 

Suppliers: [Mfrs, wholesalers] France Bed, Koizumi Furnitech, Kurogane Koskusho, Matsuda Furniture, Itoki Corp, Otsuka Kagu, Karimoku Kagu, other

 

Payment record: Slow But Correct

 

Location: Business area in Hiroshima.  Office premises at the caption address are owned and maintained satisfactory.

 

Bank References:

                        Shoko Chukin Bank (Hiroshima)

                        Momiji Bank (Sakaicho)

                        Relations: Satisfactory

 

 

FINANCES (In Million Yen)

 

       Terms Ending:

30/06/2015

30/06/2014

30/06/2013

30/06/2012

Annual Sales

　

10,550

10,245

9,791

9,858

Recur. Profit

　

50

45

40

　

Net Profit

　

25

22

24

66

Total Assets

　

　

3,113

3,461

3,243

Current Assets

　

　

2,307

2,697

　

Current Liabs

　

　

1,859

2,328

　

Net Worth

　

　

986

974

973

Capital, Paid-Up

　

　

257

257

257

Div.Ttl in Million (¥)

　

　

11.6

23.2

23.8

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

2.98

4.64

-0.68

3.04

    Current Ratio

　

..

124.10

115.85

..

    N.Worth Ratio

　

..

31.67

28.14

30.00

    R.Profit/Sales

　

0.47

0.44

0.41

..

    N.Profit/Sales

　

0.24

0.21

0.25

0.67

    Return On Equity

　

..

2.23

2.46

6.78

 

Notes: Forecast (or estimated) figures for the 30/06/2015 fiscal term.

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.