MIRA
INFORM REPORT
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Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TOYO TRADING CO LTD |
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Registered Office : |
Kawabe Bldg 4F, 1-5-7 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
Feb 1989 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of fertilizer, oil
& fats, their ingredients |
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 87.3 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
TOYO TRADING CO LTD
REGD NAME
Toyo Tsusho KK
MAIN OFFICE
Kawabe Bldg 4F, 1-5-7 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN
Tel : 03-3219-1041
Fax : 03-3219-1044
URL : N/A
ACTIVITIES
Import, wholesale of fertilizer, oil & fats, their
ingredients
BRANCHES
Nil
OFFICERS
YASUHIKO SHIBATSUJI, PRES
Kaoru Shibatsuji, dir
Shigenari Kasai, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,570 M
PAYMENTS REGULAR CAPITAL Yen 75 M
TREND STEADY WORTH Yen 229 M
STARTED 1989 EMPLOYES 5
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN FERTILIZER, OIL & FATS. FINANCIAL SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 87.3 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established by Yasuhiko Shibatsuji in
order to make most of his experience in the subject line of business. This is a trading firm specializing in
import and wholesale of raw materials & ingredients for fertilizers, oils
& fats, food additives, other.
Stressing on food additives, which business is expanding. Clients include fertilizer mfrs, chemical
firms, food industry, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 3,570 million, an 18% hike from Yen 3,026 million in the previous term. This is attributed to the hike of materials prices, which were passed onto the clients, plus weaker Yen that raised sales in Yen terms. Food additives division showed materials growth. The net profit was posted at Yen 7 million, down from Yen 11 million a year ago, due to the rising costs of operations.
For the current term ending Dec 2007 the net profit is
projected at Yen 10 million, on a 9% rise in turnover, to Yen 3,900
million. Business is seen growing
steadily.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 87.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1989
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 6,000
shares
Issued: 1,500
shares
Sum: Yen
75 million
Major shareholders (%): Yasuhiko
Shibatsuji (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales feed supplement, feed
preservatives, nutritional feed acids, oils & fats ingredients, food
additives, other industrial chemicals, mainly for animal feeds & health
industries (--100%).
Clients: [Fertilizer mfrs, chemical firms, food mfrs] Marubeni Nisshin Feed, Nisshin Pet Foods, Dainippon Ink & Materials, House Foods, Ezaki Glico, Nippon Suisan Kaisha, Ikeda Tohka Ind, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Marubeni Corp, J-Oil Mills
Inc, Yaizu Suisan Kagaku Ind, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Kanda)
MUFG (Kanda)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual Sales |
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3,570 |
3,026 |
4,150 |
5,916 |
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Recur. Profit |
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16 |
9 |
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Net Profit |
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7 |
11 |
6 |
18 |
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Total Assets |
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735 |
915 |
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Current Assets |
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589 |
796 |
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Current Liabs |
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245 |
502 |
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Net Worth |
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229 |
220 |
209 |
203 |
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Capital, Paid-Up |
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75 |
75 |
75 |
75 |
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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 |
17.98 |
-27.08 |
-29.85 |
-30.15 |
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Current Ratio |
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.. |
240.41 |
158.57 |
.. |
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N.Worth Ratio |
.. |
29.93 |
22.84 |
.. |
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R.Profit/Sales |
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.. |
0.53 |
0.22 |
.. |
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N.Profit/Sales |
0.20 |
0.36 |
0.14 |
0.30 |
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Return On Equity |
.. |
5.00 |
2.87 |
8.87 |
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Notes: Financials for the 31/12/2006 fiscal term were only
partially disclosed.
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%)