MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SISCO JAPAN CO LTD |
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Registered Office : |
Ohtemachi 21 Bldg 3F, 1-4-1 Uchikanda Chiyodaku |
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Country : |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
Oct 1963 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of fuel
& oil additives, as agent for STP (USA) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 5.7 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
SISCO JAPAN CO LTD
REGD NAME
KK Sisco
MAIN OFFICE
Ohtemachi 21 Bldg
3F, 1-4-1 Uchikanda Chiyodaku
Tel : 03-5282-0211
Fax : 03-5282-0212
URL : http://www.stp-nippon-sj.co.jp
E-Mail
address: sisco@stp-nippon.sj.co.jp
Registered at: 19-1 Nambumachi Shimonoseki Yamaguchi-Pref
ACTIVITIES
Import,
wholesale of fuel & oil additives, as agent for STP (USA)
BRANCHES
OFFICERS
HIDEYA
SUZUKI, PRES
Tomoo
Suzuki, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 320 M
PAYMENTS REGULAR CAPITAL Yen 33 M
TREND SLOW WORTH Yen
268 M
STARTED 1963 EMPLOYES 13
COMMENT
IMPORTER OF STP FUEL & OIL ADDITIVES, AS EXCLUSIVE AGENT. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 5.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by father of Hideya Suzuki in order to make most of his experience in the subject line of business. Owned and operated solely by the Suzuki family. This is exclusive import agent of STP products: engine fuel & oil additives. Clients are major car & parts dealers nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Aug/2006 fiscal term amounted to Yen 320 million, a 2% down from Yen 326 million in the previous term. Competition among the trade depressed sales prices. The net profit was posted at Yen 6 million, down from Yen 8 million a year ago.
For the current term ending Aug 2007 the net profit is projected at Yen 6 million, on a 3% rise in turnover, to Yen 330 million. Weaker Yen may help push sales upwards in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 5.7 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Oct 1963
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 268,000 shares
Issued: 67,000 shares
Sum: Yen 33.5 million
Major shareholders (%): Hideya
Suzuki (90)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales STP products of fuel &
oil additives, as its exclusive sales agent in
(Products handled):
Oil Treatment: STP
oil treatment, oil stop leak, oil treatment heavy duty;
Gas Treatment: STP
complete fuel system cleaner, super gas treatment, gas treatment & water
remover;
Fuel System Products: STP
injector cleaner, carburetor cleaner, power max gas booster;
Diesel Fuel Treatment: STP
diesel fuel treatment, diesel stop smoke;
Functional Fluids: STP
power steering fluids & stop leak, power steering diesel, other.
Clients: [Car dealers, car repairing shops] Auto Backs Seven, Yellow Hats, Pas Star, Empire Motors, Zypro Ind, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Imports from STP as its exclusive agent.
Domestically
supplied from:
Payment
record: Regular
Location: Business area in
Bank References
Yamaguchi
Bank (H/O)
Mizuho
Bank (Marunouchi)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual
Sales |
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330 |
320 |
326 |
348 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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6 |
6 |
8 |
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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268 |
152 |
254 |
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Capital,
Paid-Up |
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33 |
33 |
33 |
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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 |
3.13 |
-1.84 |
-6.32 |
-18.50 |
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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 |
1.82 |
1.88 |
2.45 |
2.87 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/08/2007 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%)