MIRA
INFORM REPORT
|
Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
NIPPON HITEC CO LTD |
|
|
|
|
Registered Office : |
Daiichi Tani Bldg 6F, 1-18-6 Kanda-Sudacho Chiyodaku Tokyo 101-0041 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.10.2006 |
|
|
|
|
Date of Incorporation : |
Nov 1983 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of synthetic resin
materials, plastic products |
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 |
|
Maximum Credit Limit : |
Yen 9.3 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
name
NIPPON HITEC CO LTD
REGD NAME
Nihon Hitec KK
MAIN OFFICE
Daiichi Tani Bldg 6F, 1-18-6 Kanda-Sudacho Chiyodaku Tokyo 101-0041
JAPAN
Tel: 03-3255-5222
Fax: 03-3255-5225
URL: Nil
ACTIVITIES
Import, wholesale of synthetic resin materials, plastic
products
BRANCHES
Nil
OFFICER(S)
SHUICHI SUZUKI, PRES Kiyoko
Suzuki, dir
Yoshihiko Suzuki, dir Hitomi
Suzuki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 524 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 84 M
STARTED 1983 EMPLOYES 7
COMMENT
TRADING HOUSE SPECIALIZING IN PLASTIC MATERIALS &
PRODUCTS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$86,000 / O/A 60 DAYS.
MAX CREDIT LIMIT: YEN 9.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shuichi Suzuki in order to make most of his experience in the subject line of business. This is a family-based trading firm specializing in importing and wholesaling synthetic resin materials and plastic products, all from Thailand. Clients are plastic products mfrs, specialty traders, others, nationwide.
FINANCIAL INFORMATION
The subject does not release its full financials (as is usually the case with family-operated firms) except the following partial figures.
The
sales volume for Oct/2006 fiscal term amounted to Yen 524 million, a 4% down
from Yen 545 million in the previous term.
The net profit was posted at 2 million, sharply down from Yen 7 million
a year ago.
For the current term ending Oct 2007 the net profit is
projected at Yen 2 million, on an almost similar turnover, at Yen 530 million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 9.3 million, on 30 days normal terms. The proposed amount for 60 days is considered
within the firm’s financial capabilities.
REGISTRATION
Date Registered: Nov
1983
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued: 400
shares
Sum: Yen
20 million
Major shareholders (%): Shuichi Suzuki (80), Hitomi Suzuki (5),
Toshimasa Ogasawara (2.5), Motoo
Matsumura (2.5), Yoshinori Tsukuda (1)
No. of shareholders: 11
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales synthetic resin materials
(20%), plastic products, and related
products (70%), others (10%), from Thailand.
Clients: [Mfrs, wholesalers] Musashino Resin, Sankyo Co, KF Film, Sanyo Electric, Japan Aviation Electronics Ind, Kawataki Corp, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Inabata & Co, Aisin Seiki,
Nipro, Hitachi Chemical Filtec, other.
Also imports from Thai Griptich, other from Thailand.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Shinjuku-Nishiguchi)
MUFG (Kanda-Ekimae)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/10/2007 |
31/10/2006 |
31/10/2005 |
31/10/2004 |
|
|
Annual
Sales |
|
530 |
524 |
545 |
681 |
|
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
|
Net
Profit |
|
2 |
2 |
7 |
4 |
|
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
|
Net
Worth |
|
|
84 |
82 |
78 |
|
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
||
|
S.Growth Rate |
1.15 |
-3.85 |
-19.97 |
-8.22 |
||
|
Current Ratio |
|
|
.. |
.. |
.. |
|
|
N.Worth Ratio |
|
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.38 |
0.38 |
1.28 |
0.59 |
||
Notes:
Financial statement not disclosed only except the above partial approx figures.
Forecast
(or estimated) figures for 31/10/2007 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)