MIRA
INFORM REPORT
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Report Date : |
04.07.2006 |
IDENTIFICATION DETAILS
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Name : |
SHEEN MAN CO LTD |
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Registered Office : |
1-12-10 Higashi-Tenma Kitaku Osaka 530-0044 |
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Country : |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
September 1974 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of medical instruments |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
SHEEN MAN CO LTD
REGD NAME - Sheeman KK
MAIN OFFICE
1-12-10 Higashi-Tenma Kitaku
Tel :
06-6354-1147
Fax :
06-6354-7114
URL : http://www.sheen-man.co.jp
E-Mail address :
info@sheen-man.co.jp
ACTIVITIES
Import, wholesale of medical instruments
BRANCHES
OFFICERS
Tomio Sugawara, ch ATSUSHI
SUGAWARA, PRES
Minefumi Yamada, mgn dir Hirochika
Fujita, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,123 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 1,402 M
STARTED 1974 EMPLOYES 52
COMMENT
IMPORTER OF MEDICAL EQUIPMENT & INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 68.1 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Tomio Sugawara in
order to make most of his experience
in the subject line of business. Atsushi
is the founder’s son, who took the pres office in Jun 2006. This is a
trading firm, owned by the Sugawara family, for import and wholesale of medical
devices, such as interventional radiology products. Goods are imported from
FINANCIAL
INFORMATION:
The sales volume for Apr/2006 fiscal term amounted to Yen
3,123 million, a 9% up from Yen 2,853 million in the previous term. Disposable medical supplies are increasing
rapidly. Originally developed devices
are faring well. The recurring profit
was posted at Yen 162 million and the net profit at Yen 49 million,
respectively, compared with Yen 90 million recurring profit and Yen 62 million
net profit, respectively, a year ago.
For the term ended Apr 2007 the recurring profit was
projected at Yen 165 million and the net profit at Yen 50 million,
respectively, on a 6% rise in turnover, to Yen 3,300 million. Weaker Yen should have uplifted sales in Yen
terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 68.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
74
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000
shares
Sum: Yen
20 million
Major shareholders (%): Atsushi Sugawara (40), Tomio
Sugawara (25), Ikuko Sugawara (15),
Sugan Co (15)
No. of shareholders:
7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales diagnostic &
therapeutic catheter & X-rays for cardiac surgery, related equipment &
supplies, including disposable supplies, other medical in- struments (--100%).
About 85% of the goods are imported through a 100% owned
subsidiary, Sugan Co Ltd, from USA centrally, UK, Sweden, Germany, France,
other.
(Overseas suppliers):
Merit Medical Systems Inc, Inter V, UreSil, Integral (--
Inter V (
Unomedical (GB), other.
Clients: [Medical devices dealers, hospitals] Kyushu Sheen
Man (16%), Procure Co, Win International,
Igaki Medical Planning, Kawanishi Co, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports the goods through
Sugan Co (85). Domestically, supplied
from Edge Medical Technology, Kawamoto Corporation, Century Medical, other.
Payment record
Regular
Location
Business area in
Bank References
Mizuho Bank (Umeda)
Resona Bank (Umeda-Kita)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
30/04/2007 |
30/04/2006 |
30/04/2005 |
30/04/2004 |
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Annual
Sales |
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3,300 |
3,123 |
2,853 |
2,323 |
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Recur.
Profit |
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165 |
162 |
90 |
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Net
Profit |
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50 |
49 |
62 |
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Total
Assets |
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3,963 |
3,835 |
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Current
Assets |
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2,541 |
2,433 |
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Current
Liabs |
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1,576 |
1,496 |
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Net
Worth |
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1,402 |
1,380 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.67 |
9.46 |
22.82 |
-23.28 |
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Current Ratio |
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.. |
161.23 |
162.63 |
.. |
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N.Worth Ratio |
.. |
35.38 |
35.98 |
.. |
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R.Profit/Sales |
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5.00 |
5.19 |
3.15 |
.. |
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N.Profit/Sales |
1.52 |
1.57 |
2.17 |
0.00 |
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Return On Equity |
.. |
3.50 |
4.49 |
.. |
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Note:
Forecast (or estimated) for the 30/04/2007 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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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%)