MIRA
INFORM REPORT
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Report Date : |
16.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
TOYO SHINYAKU CO LTD |
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Registered Office : |
7-28 Yayoigaoka Tosu City Saga-Pref 841-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1997 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturers of health foods, cosmetics |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 138.1 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
TOYO SHINYAKU CO LTD
REGD NAME
KK Toyo Shin’yaku
MAIN OFFICE
7-28 Yayoigaoka Tosu City Saga-Pref 841-0005 JAPAN
Tel: 0942-81-3555
Fax: 0492-81-3554
URL : http://www.toyoshinyaku.co.jp
E-Mail address: info@toyoshinyaku.co.jp
ACTIVITIES
Mfr of health foods, cosmetics
BRANCHES
Tokyo, Fukuoka, Osaka, Nagoya, Kumamoto, Paris
FACTORY(IES)
At the caption address, Kumamoto
OFFICERS
TOSHIMITSU HATTORI, PRES
Kin’ya Takagaki, dir
Shun’ya Tada, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,818 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND STEADY WORTH Yen 251 M
STARTED 1997 EMPLOYES 180
COMMENT
MFR OF
HEALTH FOODS, COSMETICS, OTHER. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 138.1 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established by Toshimitsu Hattori in
order to make most of his experience in the subject line of business. Specializes in mfg health foods, cosmetics
raw materials, bio-chemicals, other.
Aggressively setting up JV’s with major mfrs focusing on OEM
production. Goods are also imported and
exported.
JV’s: TSI
Corporation, founded Mar 2007, JV with Itochu Shokuhin Co Ltd; TSD Wellness
Corp, founded Mar 2006, JV with Dentsu Inc; Kobayashi Health Pharmaceutical Co
Ltd, founded Mar 2006, JV with Kobayashi
Pharmaceutical Co Ltd; Taisho Active Health Co Ltd, founded Sept
2005, JV with Taisho Pharmaceutical Co Ltd;
Orico Pharma Co Ltd, founded Apr 2005, JV with Orient Corporation.
FINANCIAL INFORMATION
Financials are only partially released.
The sales volume for Mar/2006 fiscal term amounted to Yen 7,818 million, a 9% up from Yen 7,175 million in the previous term. Newly developed green vegetable juice contributed on wide demand from health-conscious population, particularly from aged population. The net profit is estimated posted at Yen 70 million. The firm does not release profits, as is the case with family-based firm.
For the term just ended Mar 2007 the net profit was projected
at Yen 70 million, on a 1% rise in turnover, to Yen 7,900 million. Demand for health foods continued.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 138.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1997
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000
shares
Issued: 1,000
shares
Sum: Yen
50 million
Major shareholders (%): Toshimitsu Hattori (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures green juice (50%), fermented foods
(40%), fungal foods (10%). Goods are
both imported and exported.
Clients: [Mfrs, wholesalers] Suntory Ltd, Beruna, Nissen,
Otsuka Pharmaceutical, Morishita Jintan Co, Naris Cosmetics, IVY Cosmetics Corp,
other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] QP Corp, Morinaga Milk Ind,
Shionogi & Co, Meiji Seika KK, Ajinomoto Co, Takeda Chemical Ind, Dainippon
Printing, other.
Payment record: Regular
Location: Business area in Tosu City, Saga-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
MUFG (Fukuoka)
Mizuho Bank (Fukuoka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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7,900 |
7,818 |
7,175 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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70 |
70 |
70 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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251 |
182 |
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Capital,
Paid-Up |
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50 |
50 |
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Div.P.Share(Ą) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.05 |
8.96 |
8.91 |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
0.89 |
0.90 |
0.98 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/03/2007 fiscal term.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)