MIRA INFORM REPORT

 

 

Report No. :

344940

Report Date :

10.10.2015

 

IDENTIFICATION DETAILS

 

Name :

WAVEFRONT SEKIGAHARA CO LTD

 

 

Registered Office :

2682 Sekigahara Sekigaharacho Fuwagun Gifu-Pref 503-1501

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

July 2001

 

 

Com. Reg. No.:

2000-01-015213 (Gifu-Sekigahara)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Subject is engaged in Import, wholesale and retail of power stones as gardening supplies (of red, blue, pink, yellow brown, green, purple, while, black colors)

 

 

No. of Employee :

15

 

 

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

 

WAVEFRONT SEKIGAHARA CO LTD

 

REGD NAME:   KK Wavefront Sekigahara

 

 

ADDRESS

 

2682 Sekigahara Sekigaharacho Fuwagun Gifu-Pref 503-1501 JAPAN

Tel: 0584-43-5974      Fax: 0584-43-5976

 

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

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Import, retail, wholesale of power stones as gardening supplies

 

 

BRANCHES

 

7 stores in Gifu-Pref

 

 

FACTORIES

 

At the caption address (processing)

 

 

OFFICERS

 

TATSURO YABASHI, PRES

Hitoshi Hirooka, dir

Ryuichi Kobayashi, dir  

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 649 M

PAYMENTSSLOW BUT CORRECT         CAPITAL           Yen 20 M

      TREND       UP                                WORTH            Yen 274 M

STARTED         2001                             EMPLOYES      15

 

 

 

COMMENT

 

IMPORTER OF GARDENING STONES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 35.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from Sekistone Co Ltd (See REGISTRATION).  Tatsuro Yabashi is concurrently pres at the parent.  This is a trading firm for import and retail of power stones for gardening materials.  Stones are imported from Italy, India, Brazil, UK, Turkey, Malaysia, Philippines, other.  Operates 7 retail stores in Gifu-Pref.  Originally wholesaled building stones, processed by the parent, but later switched to the import of power stones as gardening supplies.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed.

 

The sales volume for Mar/2015 fiscal term amounted to Yen 649 million, a 7% up from Yen 605 million in the previous term.  The net profit was posted at Yen 10 million, compared with Yen 4 million net profit a year ago.

 

For the current term ending Mar 2016 the net profit is projected at Yen 25 million, on a 5% rise in turnover, to Yen 680 million.  Business is seen expanding steadily. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 35.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:                                   Jul 2001

Regd No.:                                             2000-01-015213 (Gifu-Sekigahara)

Legal Status:                            Limited Company (Kabushiki Kaisha)

Authorized:                              1,600 shares

Issued:                                     400 shares

Sum:                                        Yen 20 million

Major shareholders (%):                       Sekistone Co Ltd* (100)

           

*.. Nation’s top-ranked mining, processing of granite, marbles, other building stones of 1,803 companies nationwide, at the caption address, founded 1953, capital Yen 96 million, sales Yen 8,940 million, net profit Yen 253 million, employees 183, pres Tatsuro Yabashi, concurrently

 

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

 

 

 

OPERATION

           

Activities: Imports, wholesales and retails power stones as gardening supplies (of red, blue, pink, yellow brown, green, purple, while, black colors), others (--100%)

 

Clients: [Mfrs, wholesalers] Sekistone Co, Tokoname Epcos Co, Aisin Seiki, Exis Co, other 

No. of accounts: 300

Domestic areas of activities: Centered in Gifu-Pref

 

Suppliers: [Mfrs, wholesalers] Imports from Italy, India, Brazil, UK, Turkey, Malaysia, Philippines, China, other.

Domestically supplied from: Takefuji Shoten, Tokai Kyowa, other

 

Payment record: Slow but correct

 

Location: Business area in Sekigahara, Gifu-Pref.  Office premises at the caption address are owned by the parent, Sekistone Co Ltd, and maintained satisfactorily.

 

Bank References:

Ogaki Kyoritsu Bank (Sekigahara)

Jyuroku Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

31/03/2016

31/03/2015

31/03/2014

31/03/2013

Annual Sales

　

680

649

605

553

Recur. Profit

　

..

..

6

..

Net Profit

　

25

10

4

26

Total Assets

　

　

N/A

333

N/A

Net Worth

　

　

274

264

260

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

4.78

7.27

9.40

-8.44

    Current Ratio

　

　

..

..

..

    N.Worth Ratio

　

　

..

79.28

..

    N.Profit/Sales

　

3.68

1.54

0.66

4.70

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2016 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.