MIRA
INFORM REPORT
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Report Date : |
7th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ESUESU
SANGYO CO LTD |
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Registered Office : |
1-10-16
Matsuda Higashiku Fukuoka 812-0064, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007
(Estimated) |
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Date of Incorporation : |
April
1970 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesales a wide range of packaging & wrapping materials |
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 135.3 Million |
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Status : |
Fair |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
ESUESU
SANGYO CO LTD
REGD NAME
Esuesu
Sangyo KK
MAIN OFFICE
1-10-16
Matsuda Higashiku Fukuoka 812-0064 JAPAN
Tel :
092-621-6531
Fax : 092-611-5770
URL : http://www.ss-sangyo.co.jp
E-Mail address :
info@ss-sangyo.co.jp
ACTIVITIES
Wholesale of packaging & wrapping materials
BRANCHES
Iizuka (Fukuoka)
OFFICERS
SATORU SAITO, PRES Katsumasa
Saito, v pres
Koji Saito, s/mgn dir Masakatsu
Takeuchi, mgn dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,397 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 894 M
STARTED 1970 EMPLOYES 43
COMMENT
WHOLESALER SPECIALIZING IN PACKAGING MATERIALS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$125,000 / O/A 30
DAYS.
MAX CREDIT LIMIT: YEN 135.3 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established originally in 1963 by Satoru
Saito for selling cardboard & other packaging materials, on his
account. Incorporated in 1970, the firm
has expanded its handling items to
food containers, food wrapping materials, plastic film products, pallets, other
packaging & wrapping materials. Due
to local governments strictly regulate wrapping materials and quality from
environmental protection viewpoint, film wrappers and ecological wrapping materials are on the increase. Recently developed cardboards with adhesive
tapes attached.
FINANCIAL INFORMATION
The sales volume for Jul/2006 fiscal term amounted to Yen 3,397
million, a 10% hike from Yen 3,093 million in the previous term. Demand continued rising for disposal bags
strictly on the local government’s regulation and standard for garbage &
other disposable bags (films). These
goods are mostly imported from subcontracted mfrs in China centrally. The recurring profit was posted at Yen 116
million and the net profit at Yen 64 million, respectively, compared with Yen
96 million recurring profit and Yen 55 million net profit, respectively, a year
ago
For the current term ending Jul 2007 the net profit is projected
at Yen 67 million, on a 6% rise in turnover, to Yen 3,600 million. Demand for eco-friendly plastic bags &
films will continue increasing.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 135.3 million, on 30 days normal terms. The proposed amount is considered well
within the firm’s financial capabilities.
REGISTRATION
Date Registered : Apr 1970
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
240,000 shares
Issued : 60,000 shares
Sum :
Yen 30 million
Major shareholders (%)
Satoru Saito, Hiroki Maeda, Katsumasa Saito, Ryoichi Nagano,
Katsuhiko Fujii, other. (Breakdown details not disclosed).
No. of shareholders
15
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Wholesales a wide range of packaging & wrapping
materials (--100%): Cardboards, sealing materials, wrapping sheets, vinyl
tapes, ropes, food tray, PET bottles, adhesive tapes, polyethylene bags &
films, containers, pallets, carts, air bags, Styrofoam boards & sheets,
vacuum packs, paper towels, polyethylene gloves, disposable chopsticks,
ecological garbage bags (films), garbage disposal equipment, other.
Goods are imported from subcontracted mfrs in China, other.
Clients
[Food chains, supermarkets, apparel mfrs] Onward Kashiyama, Nippon
Tungsten, Nafco group chains, Best Denki, other.
No. of accounts
800
Domestic areas of activities
Centered in Fukuoka-Pref and vicinities
Suppliers
[Mfrs, wholesalers] Nichiban, Chori Corp, Toyo Kagaku, Hinomaru
Corp, Taiyo Shiki,
other. Imports from China, etc.
Payment record
Regular
Location
Business area in Fukuoka City.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Nishinippon Bank (Hakozaki)
Bank of Fukuoka (Hiei)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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3,600
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3,397
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3,095
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Recur.
Profit |
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116 |
96 |
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Net
Profit |
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67 |
64 |
55 |
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Total
Assets |
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1,620
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1,474
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Current
Assets |
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1,070
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1,054
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Current
Liabs |
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629 |
641 |
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Net
Worth |
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894 |
830 |
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Capital,
Paid-Up |
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30 |
30 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.98 |
9.76 |
15.18
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Current Ratio |
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170.11
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164.43
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N.Worth Ratio |
.. |
55.19
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56.31
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R.Profit/Sales |
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.. |
3.41 |
3.10 |
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N.Profit/Sales |
1.86 |
1.88 |
1.78 |
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Return On Equity |
.. |
7.16 |
6.63 |
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Note: Forecast (or
estimated) for the 31/07/2007 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/normal. |
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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