MIRA
INFORM REPORT
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Report Date : |
20.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SUNFILL CORPORATION |
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Registered Office : |
1-35 Awano-Nishi |
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Country : |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
Jul 1975 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Export of used machine tools,
hand tools, working tools |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 4 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
SUNFILL CORPORATION
REGD NAME
KK Sunfill
MAIN OFFICE
1-35 Awano-Nishi
Tel : 058-237-7188
Fax : 058-237-7189
URL : N/A
ACTIVITIES
Export
of used machine tools, hand tools, working tools
BRANCHES
Nil
OFFICERS
TOSHIHIKO
TAGAKI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 250 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
47 M
STARTED 1975 EMPLOYES 3
COMMENT
EXPORTER SPECIALIZING IN HAND TOOLS. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 4 MILLION, 30 DAYS NORMAL TERMS.
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HIGHLIGHTS
The subject company was established by Toshihiko Tagaki in order to make most of his experience in the subject line of business. This is a family-based trading firm, operating from Tagaki’s home address, for exporting used (second-hand) machine tools to: USA, Europe, Korea, India, Thailand, Iran, other. Exports account for 45% of total sales.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Apr/2006 fiscal term amounted to Yen 250
million, a similar amount in the previous term.
The net profit was halved down to Yen 5 million from Yen 10 million a
year ago. Used tools prices increased
against robust demand from
For the term ended Apr 2007 the net profit was projected at Yen 5 million, on a 4% rise in turnover, to Yen 260 million. Weaker Yen should have contributed.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 4 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jul 1975
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%): Toshihiko
Tagaki and families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports used (second-hand) working tools, machine tools, other (--100%)
(Exports
45%)
Clients:
[Mfrs, wholesalers] Exports to
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in Gifu-Pref.
Suppliers:
[Mfrs, wholesalers] Supplied from domestic machine tools mfrs, wholesalers,
etc.
Payment
record: Regular
Location: Business area in
Bank References
Jyuroku
Bank (Mitabori)
Gifu Shinkin
Bank (Mitabori)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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30/04/2007 |
30/04/2006 |
30/04/2005 |
30/04/2004 |
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Annual
Sales |
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260 |
250 |
251 |
297 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
5 |
10 |
1 |
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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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47 |
42 |
32 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
4.00 |
-0.40 |
-15.49 |
61.41 |
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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 |
1.92 |
2.00 |
3.98 |
0.34 |
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Note: Financials
are only partially disclosed.
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%)