MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNITY TRADING CORPORATION |
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Registered Office : |
Nishiki KT Bldg 8F, 1-5-32 Nishiki Nakaku Nagoya 460-0003 |
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Country : |
Japan |
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Date of Incorporation : |
Jun 1983 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of multi-head embroidery
machines & peripherals |
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 51 millions |
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Status : |
Fair |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
UNITY TRADING CORPORATION
REGD NAME
Unity Boeki KK
MAIN OFFICE
Nishiki KT Bldg 8F, 1-5-32 Nishiki Nakaku Nagoya 460-0003 JAPAN
Tel: 052-232-5919
Fax: 052-232-5925
URL: N/A
ACTIVITIES
Export of multi-head embroidery machines & peripherals
BRANCHES
Nil
OFFICERS
TOMOO SUGANUMA, PRES
Nobuhiro Nakashima, s/mgn dir
Keiko Suganuma, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,400 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 115 M
STARTED 1983 EMPLOYES 8
COMMENT
EXPORTER OF EMBROIDERY MACHINES & PERIPHERALS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 51 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tomoo Suganuma in order
to make most of his previous experience in the subject line of business. This is a trading firm specializing in export of embroidery machines, as exclusive
export agent for Tajima Industries Ltd, mfr of embroidery machines, Nagoya (see
REGISTRATION). The “Tajima” brand
machines are multi-head embroidery machines, offering automatic multi-color
embroidery. Export destinations are:
India, Saudi Arabia, Indonesia, Bangladesh, Sri Lanka, Pakistan, other S/E
Asian countries.
FINANCIAL INFORMATION
Financials
are only partially disclosed in rounded-off numbers.
The sales volume for Mar/2006 fiscal term amounted to Yen 3,400
million, a 3% up from Yen 3,300 million in the previous term. Exports rose sharply particularly to India,
Pakistan and Mid East. The net profit
improved to mark Yen 16 million, up from the previous Yen 15 million.
For the term just ended Mar 2007 the net profit was projected
at Yen 16 million, on a 3% rise in turnover, to Yen 3,500 million. The firm says sales have further increased,
reflecting the weaker Yen against foreign currencies, favoring export
businesses. Final results are yet to be
produced.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 51 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1983
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Tomoo Suganuma & families (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
*.. Tajima Industries Ltd, mfr of multi-head embroidery
machines, Nagoya, founded 1970, capital Yen 65 million, turnover Yen 19,872
million, net profit Yen 542 million, employees 75, pres H Tajima
OPERATION
Activities: Exports multi-head embroidery machines &
peripherals, as exclusive export agent for Tajima Industries Ltd (--100%).
Export destinations: India, Bangladesh, Pakistan, Sri Lanka,
Saudi Arabia, other.
Clients: [Mfrs, wholesalers] Exports to India, Pakistan, Sri Lanka,
Saudi Arabia, Bangladesh, other Mid East, other S/W Asian countries.
Clients in India include: ICC International Agencies Ltd;
Unitech-India Apparel Pvt Ltd; Unity Overseas Tirpur.
No. of accounts: Unavailable (all overseas)
Domestic areas of activities: Centered in greater-Nagoya
Suppliers: [Mfrs] Exports as exclusive agent for Tajima
Industries Ltd.
Payment record: Regular
Location: Business area Nagoya. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Bank of Nagoya (H/O)
Hachijuni Bank (Nagoya)
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 |
31/03/2004 |
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Annual
Sales |
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3,500 |
3,400 |
3,300 |
3,230 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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16 |
16 |
15 |
10 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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115 |
102 |
90 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.94 |
3.03 |
2.17 |
0.94 |
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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 |
0.46 |
0.47 |
0.45 |
0.31 |
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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%)