MIRA
INFORM REPORT
|
Report
Date : |
29th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
MEIYO BOEKI SHOKAI |
|
|
|
|
Registered
Office : |
Ziniya
Daiichi Bldg 2F, 1-6-19 Azuchimachi Chuoku Osaka 541- 0052 Japan |
|
|
|
|
Country: |
Japan |
|
|
|
|
Date
of Incorporation : |
1969 |
|
|
|
|
Legal
Form : |
Sole proprietorship |
|
|
|
|
Line
of Business : |
Importer, exporter
and wholesaler of cotton yarns, fabrics, textile machinery, used cars |
RATING & COMMENTS
|
MIRA’s
Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum
Credit Limit : |
YEN 32 MILLION |
|
|
|
|
Status
: |
Moderate |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation
: |
Clear |
NAME
MEIYO BOEKI SHOKAI (SOLE PROPRIETORSHIP)
REGD NAME
Meiyo Boeki Shokai (Sole proprietorship, not
registered)
MAIN OFFICE
Ziniya Daiichi Bldg 2F, 1-6-19 Azuchimachi Chuoku
Osaka 541-0052 JAPAN
Tel :
06-6264-0190
Fax :
06-6264-0147
URL : N/A
ACTIVITIES
Import, export, wholesale of cotton
yarns, fabrics, textile machinery, used cars
BRANCHES
Nil
OFFICER(S)
BADHELIA YUSUF, PROPRIETOR
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 2,100 M
PAYMENTS REGULAR CAPITAL - - - M
TREND UP WORTH Yen 215 M
STARTED 1969 EMPLOYES 8
COMMENT
TRADING
HOUSE SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 32 MILLION, SECURED TERMS RECOMMENDED
HIGHLIGHTS
The
subject firm is a sole proprietor founded by Badhelia Yusuf, a Pakistani
resident businessman, in order to make most of his experience in the subject
line of business utilizing his wide networks in Pakistan and Japan. A trading firm for import, export and
wholesale of cotton yarns, fabrics, textile weaving equipment, and related
goods. The subject also exports used
motor cars to Pakistan, India, China, other S/E Asian countries. Imports are from India, Pakistan,
other. Domestic clients include general
trading houses, textile makers, etc.
Business is considered to be on the uptrend with staff members increased
to 8 from 5 in the previous year.
The
sales volume for Dec/2004 fiscal term amounted to Yen 2,100 million, a 5% up
from Yen 2,000 million in the previous term.
Both imports and exports expanded, particularly exports of used cars and
motorcycles enjoyed good sales. The net
profit remained similar at Yen 15 million.
Rising costs of operations ate into profits.
For
the term ended Dec 2005 the net profit is believed posted at Yen 16 million, on
a 5% rise in turnover, to Yen 2,200 million.
Exports continued rising, also weaker Yen against foreign currencies
contributed to the sales growth.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 32 million, on fully secured terms recommended.
REGISTRATION
Date Registered : Not registered
(Founded 1969)
Legal Status : Sole Proprietorship
Net Worth :
Yen 215 million
This is a trading firm
wholly owned and operated by Badhelia Yusuf, on his account. The net worth is estimated at Yen 215
million, which derived from his savings.
Nothing detrimental is known as to his
commercial morality.
OPERATION
Activities:
Imports, exports and wholesales cotton yarns, fabrics, textile weaving
equipment, their parts & components (--70%); exports used cars, others
(--30%).
Clients: [Apparel makers, wholesalers] Kanebo Ltd, Teijin Ltd, Sojitz Corp, Toyota Tsusho Corp, other. Exports to India, China, Pakistan, Nepal, Arab states, USA, other.
No. of accounts:
80
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Tsudakoma Corp, Teijin Ltd, Kanebo Ltd, Toyota Tsusho Corp, Sojitz
Corp, other. Imports from Pakistan,
India, China, etc.
Payment record:
Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
Hong Kong Shanghai Banking (Tokyo)
Mizuho Bank (Semba)
Relations: Money deposits & transfer
only
FINANCES
(In million Yen)
|
Terms
Ending: |
|
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
|
Annual Sales |
|
2,200
|
2,100
|
2,000
|
|
|
Recur. Profit |
|
.. |
.. |
.. |
|
|
Net Profit |
|
16
|
15
|
15
|
|
|
Total Assets |
|
|
N/A |
N/A |
|
|
Net Worth |
|
|
215
|
200
|
|
|
Capital,
Paid-Up |
|
|
|
|
|
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical
Data> |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
4.76
|
5.00
|
-3.85
|
||
|
Current Ratio |
|
|
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
||
|
N.Profit/Sales |
0.73
|
0.71
|
0.75
|
||
Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/12/2005 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 |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |