MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AWAJI STEEL PIPE CO LTD |
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Registered Office : |
2-5-6 Shibatani Suminoeku Osaka 559-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Jan 1960 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of steel pipes |
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 17.1 millions |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name
AWAJI STEEL PIPE CO LTD
REGD NAME
Awaji Kokan KK
MAIN OFFICE
2-5-6 Shibatani Suminoeku Osaka 559-0021 JAPAN
Tel : 06-6685-6531
Fax : 06-6681-6367
URL : N/A
ACTIVITIES
Export of steel pipes
BRANCHES
Nil
FACTORY(IES)
(subcontracted/processing)
OFFICERS
SHOGO NADE, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 930 M
PAYMENTS REGULAR CAPITAL Yen 12 M
TREND STEADY WORTH Yen 108 M
STARTED 1960 EMPLOYES 20
COMMENT
EXPORTER OF STEEL PIPES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 17.1 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established by Shogo Nade in order to
make most of his experience in the subject line of business. This is a trader, with processing division,
for exporting steel pipes. Goods are
exported to Korea, Taiwan, China, Hong Kong, other S/E Asian countries. Has a subsidiary, Awaji Steel Pipe KK,
engaged in processing of the products.
Goods are supplied from major steel mfrs and traders.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen 930 million, a 6% up from Yen 880 million in the previous term. Weaker Yen against foreign currencies boosted the sales in Yen terms. The net profit was posted at Yen 3 million, up from Yen 2 million a year ago.
For the current term ending Dec 2007 the net profit is
projected at Yen 3 million, on a 4% rise in turnover, to Yen 970 million. Weaker Yen also will assist sales
growth.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 17.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan
1960
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 24,000
shares
Sum: Yen
12 million
Major shareholders (%): Shogo Nade (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Exports galvanized tubes & pipes, calorized
pipes, welded steel tubes & pipes, other (--100%).
Goods are supplied from domestic steel mfrs, and partially processed at a subsidiary maker, Awaji Steel Pipe KK.
Clients: [Mfrs, wholesalers] Exports to Korea, Taiwan, China, Hong Kong, other S/E Asia
Also shipped to domestic clients.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] JFE Shoji Trade Corp, Sumikin
Bussan Corp, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Shinanobashi)
SMBC (Osaka H/O)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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970 |
930 |
880 |
840 |
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Recur. Profit |
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Net Profit |
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3 |
3 |
2 |
2 |
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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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108 |
105 |
103 |
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Capital, Paid-Up |
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12 |
12 |
12 |
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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 |
4.30 |
5.68 |
4.76 |
0.00 |
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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 |
0.31 |
0.32 |
0.23 |
0.24 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2007 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%)