MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUN DENTAL CO LTD |
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Registered Office : |
4-8-9 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Jun 1972 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of dental equipment
& supplies, oral-care products |
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 38.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
SUN DENTAL CO LTD
REGD NAME
Sun Dental KK
MAIN OFFICE
4-8-9 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel : 06-6245-0950
Fax : 06-6245-7690
URL : http://www.sundental.jp/
E-Mail address: info@sundental.jp
ACTIVITIES
Import, wholesale of dental equipment & supplies,
oral-care products
BRANCHES
Tokyo, Fukuoka
OFFICERS
MINORU IRIE, PRES & CEO Masahiko
Irie, s/mgn dir
Akiko Shimizu, dir Jun’ichi
Hiraki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,150 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND STEADY WORTH Yen 367 M
STARTED 1972 EMPLOYES 38
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DENTAL EQUIPMENT AND SUPPLIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 38.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Minoru Irie in order to make most of his experience in the subject line of business. This is a trading firm specializing in importing and wholesaling dental equipment and supplies. Also handles oral-care products, such as tooth brushes, tooth paste, cleansers, other. Imports are from USA, UK, Switz, Australia, China, Taiwan, Malaysia, etc. 80% of the goods are imported. Has steady clients of specialized dental equipment traders and wholesalers nationwide. Business is seen steadily expanding.
FINANCIAL INFORMATION
The financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 2,150 million, a 2.4% up from Yen 2,100 million in the previous term. Demand rose for oral-care products, plus weaker Yen contributed. The net profit was posted at Yen 45 million, down from Yen 46 million a year ago. This is referred to the higher operating & imports costs.
For the current term ending Mar 2008 the net profit is
projected to mark time at Yen 45 million, on a 2.3% rise in turnover, to Yen
2,200 million. Weaker Yen will continue
to raise sales in Yen terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 38.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun
1972
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 120,000
shares
Issued: 30,000
shares
Sum: Yen
15 million
Major shareholders (%): Minoru Irie (33.3), Kazumi Irie (33.3), Kikuko Irie (23.3), Masahiko Irie (6.7), Akiko
Shimizu
(3.4)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales dental equipment &
supplies (--100%), importing about 80% of the products:
Dental clinic/labs/technicians use: irradiators, X-ray films, magnifiers, root canal instruments, oral X-rays, dental sterilizers, dental chairs, tables, abrasives, articulators, gloves, masks, eye shields, protectors, sterilizers, cleaners, aprons, disinfectants, other;
Oral-care products: tooth
brushes, tooth paste/powder, dental floss, denture brushes, denture cleanser,
others.
Clients: [Dental supplies dealers, wholesalers] Morimura, International Dental Trading, J Morita, Japan Dental Supply, Momose Dental, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from USA, UK, Switz, Australia, China, Taiwan, Malaysia, USA, other.
Domestic suppliers: Sun Star Inc, Heiwa Bussan, Nihon Shika
Kizai, Morimura, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
SMBC (Semba)
MUFG (Shinsaibashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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2,200 |
2,150 |
2,100 |
2,010 |
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Recur.
Profit |
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Net
Profit |
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45 |
45 |
46 |
45 |
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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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367 |
335 |
289 |
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Capital,
Paid-Up |
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15 |
15 |
15 |
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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 |
2.33 |
2.38 |
4.48 |
0.50 |
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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 |
2.05 |
2.09 |
2.19 |
2.24 |
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Notes: Forecast (or estimated) figures for 31/03/2008 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%)