MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TAIRIKU TRADING CO LTD |
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Registered Office : |
SVAX TT Bldg 7F, 3-11-15 Toranomon Minatoku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Sept 1965 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of timber;
export of machinery |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 287.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
NAME
TAIRIKU TRADING CO LTD
REGD NAME
Tairiku Boeki KK
MAIN OFFICE
SVAX TT Bldg 7F,
3-11-15 Toranomon Minatoku
Tel : 03-5470-4421
URL : http://www.tairiku-trading.co.jp
E-Mail
address: info@tairiku-trading.co.jp
ACTIVITIES
Import,
wholesale of timber; export of machinery
BRANCHES
OFFICERS
MASAYUKI
YOSHITOMI, PRES Shigeru Okada,
s/mgn dir
Naoyuki
Takanohashi, mgn dir Masayoshi
Suzuki, mgn dir
Shiro
Haga, mgn dir Hiroshi
Ishikawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,375 M
PAYMENTS REGULAR CAPITAL Yen 450 M
TREND STEADY WORTH Yen
2,999 M
STARTED 1965 EMPLOYES 51
COMMENT
TRADING FIRM SPECIALIZING IN RUSSIAN TRADE. FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 287.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Masayuki Yoshitomi in
order to make most of his experience in the subject line of business. This is a trading house specializing in
Russian business and trading. Operates
two offices in
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen
12,375 million, a 26% hike from Yen 9,843 million in the previous term. This is attributed to the hike in timber
prices. Exports of medical equipment to
For the term ended Mar 2007 the net profit was projected at and believed posted at Yen 180 million, on a 9% rise in turnover, to Yen 13,500 million. Weaker Yen should have contributed to the growth.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 287.6 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Sept 1965
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 3,600 shares
Issued: 900 shares
Sum: Yen 450 million
Major shareholders (%): Masayuki Yoshitomi (26), Kyoko Yoshitomi (26), Tsuneko Iwata (6), Masayoshi Iwata (5),
Shigeru Okada (4)
No. of shareholders: 27
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales logs, timber, precut timber
boards, others (94%); exports medical equipment & machinery, environmental
equipment, others (--6%), all to and from
Clients: [Mfrs, wholesalers] Oji Forest & Products, Nippon Paper Lumber, Itochu Kenzai Corp, Hanwa Corp, other.
Exports
to
No. of
accounts: 200
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports wholly from
For
exports supplied from Dainippon Ink & Chemicals, Topcon Corp, Riken Keiki
Co, other.
Payment
record: Regular
Location: Business area in
Bank References
Hokuriku
Bank (
Mizuho
Bank (Toranomon)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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13,500 |
12,375 |
9,843 |
8,543 |
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Recur.
Profit |
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468 |
957 |
814 |
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Net
Profit |
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180 |
181 |
247 |
256 |
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Total
Assets |
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8,211 |
7,502 |
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Current
Assets |
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6,983 |
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Current
Liabs |
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4,133 |
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Net
Worth |
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2,999 |
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Capital,
Paid-Up |
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450 |
450 |
450 |
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Div.P.Share(¥) |
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50.00 |
100.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.09 |
25.72 |
15.22 |
6.12 |
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Current Ratio |
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.. |
168.96 |
.. |
.. |
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N.Worth Ratio |
.. |
36.52 |
0.00 |
.. |
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R.Profit/Sales |
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.. |
3.78 |
9.72 |
9.53 |
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N.Profit/Sales |
1.33 |
1.46 |
2.51 |
3.00 |
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Return On Equity |
.. |
6.04 |
.. |
.. |
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Note:
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. |
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%)