MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
APS CO LTD |
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Registered Office : |
1-13-8-506 |
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Country : |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
Oct 1992 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of plastic
film bags |
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 70.0 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
APS CO LTD
REGD NAME
A. P. S. KK
MAIN OFFICE
1-13-8-506
Esakacho
Tel : 06-6330-4536
Fax : 06-6330-3270
URL : N/A
ACTIVITIES
Import,
wholesale of plastic film bags
BRANCHES
Nil
OFFICERS
SHUICHI
KOBAYASHI, PRES
Koji
Kiuchi, dir
Shigeru
Tone, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,670 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen
193 M
STARTED 1992 EMPLOYES 6
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN PLASTIC FILM BAGS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$625,000 / O/A 60 DAYS.
MAX CREDIT
LIMIT: YEN 70.0 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Shuichi Kobayashi in
order to make most of his experience in the subject line of business. This is a trading firm for importing and
wholesaling polyethylene film bags centrally, and related film bags. Goods are imported mostly from subcontracted
mfrs in
FINANCIAL INFORMATION
Financials are only partially disclosed as follows.
The sales volume for Sept/2006 fiscal term amounted to Yen 3,670 million, a 50% sharp rise from Yen 2,438 million in the previous term. This is attributed to the rising demand for the products due to the said stricter local rules for garbage disposal bags. To cope with the upbeat in demand the firm expanded import sources widely in addition to existing suppliers. The net profit was posted at Yen 35 million, up 52% from Yen 23 million a year ago.
For the current term ending Sept 2007 the net profit is projected at Yen 38 million, on a 10% rise in turnover, to Yen 4,000 million. Demand continues. Weaker Yen will contribute to sales growth in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 70.0 million, on 30 days normal terms. The proposed amount for 60 days terms is considered well within the firm’s financial capabilities.
REGISTRATION
Date
Registered: Oct 1992
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%): Shuichi
Kobayashi (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesalers polyethylene film bags, used for garbage & other wastes disposals (100%).
Goods are imported from
Clients: [Specialty stores, chain stores, wholesalers] Mitsui & Co, MKV Platech, Nexta Co, Kiuchi, Morimasu Kogyo, Mitsui Chemicals Fabro, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fujita Hong Kong, Thai Plastic Bag, Mitsui & Co, Siam Chemical, Rolex Plastic, other.
Payment
record: Regular
Location: Business area in
Bank References
MUFG
(Esaka)
Mizuho
Bank (Esaka)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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4,000 |
3,670 |
2,438 |
1,700 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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38 |
35 |
23 |
18 |
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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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193 |
169 |
148 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.99 |
50.53 |
43.41 |
32.92 |
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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 |
0.95 |
0.95 |
0.94 |
1.06 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for 30/09/2007 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. |
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%)