MIRA
INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SUN
MARIX CO LTD |
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Registered Office : |
Honmachi-Okamura
Bldg 7F, 1-2-10 Awaza Nishiku Osaka 550-0011, Japan |
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Country : |
Japan |
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Financials (as on) : |
30.09.2006
(Estimated) |
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Date of Incorporation : |
November
1984 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of steels, steel products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 42.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
SUN
MARIX CO LTD
REGD NAME
KK Sun
Marix
MAIN OFFICE
Honmachi-Okamura
Bldg 7F, 1-2-10 Awaza Nishiku Osaka 550-0011 JAPAN
Tel : 06-6531-1331
Fax : 06-6531-1332
URL : N/A
ACTIVITIES
Export of steels, steel products
BRANCHES
Nil
OFFICERS
KEISUKE OOKITA, PRES Reiko
Iwamoto, dir
Yasuhiro Takaoka, dir Yasuhiro
Sobajima, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,820 M
PAYMENTS REGULAR CAPITAL Yen 61 M
TREND UP WORTH Yen 56 M
STARTED 1984 EMPLOYES 4
COMMENT
EXPORTER SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 42.3 MILLION, 30 DAYS, SECURED TERMS RECOMMENDED ON NEW TRANSACTIONS. .
HIGHLIGHTS
The subject company was established by Mitsuhiro Iwamoto in order
to make most of his experience in
foreign trading. He owns 81.2% of the
company’s share. Keisuke Ookita took
the office of pres on 09/11/2004. This
is a trading firm, owned by the Iwamoto family, specializing in exporting
steels and steel products. Main
destination is China, where demand for steel products is boosting from
construction industries.
FINANCIAL INFORMATION
The sales volume for Sept/2005 fiscal term amounted to Yen 1,820
million, an 8% up from Yen 1,688 million in the previous term. Exports boosted into China, also hike in
material prices contributed to the growth.
The operations, however, plunged into the deficit to register Yen 19
million net losses coming from Yen 38 million extraordinary losses.
For the term ended Sept 2006 the operations are though to have
come back to profitability to post Yen 5 million net profit, on a 7% rise in
turnover, to Yen 1,950 million. Weaker
Yen should have helped to raise sales amount in Yen terms.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 42.3 million, on 30 days, fully
guaranteed terms recommended on new transactions.
REGISTRATION
Date Registered :
Nov 1984
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
4,800 shares
Issued :
1,232 shares
Sum :
Yen 61.6 million
Major shareholders (%)
Mitsuhiro Iwamoto (81.2), Reiko Iwamoto (16.2), Yasuhiro Sobajima
(2.6)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Exports steels and steel products (--100%)
Clients
[Mfrs, wholesalers] Exports to China, etc.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Osaka
Suppliers
Steel mfrs, wholesalers, general trading houses, other
Payment record
Regular
Location
Business area in Osaka.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Bank of Tokyo-Mitsubishi UFJ (Osaka-Nishi)
Mizuho Bank (Namba)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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1,950
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1,820
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1,688
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Recur.
Profit |
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18 |
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Net
Profit |
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5 |
-19 |
5 |
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Total
Assets |
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202 |
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Current
Assets |
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90 |
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Current
Liabs |
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146 |
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Net
Worth |
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56 |
75 |
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Capital,
Paid-Up |
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60 |
60 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.14 |
7.82 |
40.67
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Current Ratio |
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61.64
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N.Worth Ratio |
.. |
27.72
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R.Profit/Sales |
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.. |
0.99 |
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N.Profit/Sales |
0.26 |
-1.04
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0.30 |
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Return On Equity |
.. |
.. |
6.67 |
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Note: Forecast (or
estimated) for the 30/09/2006 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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