MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SUN-EIGHT TRADING CO LTD |
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Registered Office : |
Heiwa Daiichi Bldg 3F, 1-4-5 Hirakawacho Chiyodaku |
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Country : |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
February 1979 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of confectionery/break making 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 35.9 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
COMPANY NAME
SUN-EIGHT TRADING CO LTD
REGD NAME: Sun Eight Boeki KK
ADDRESS
MAIN OFFICE : Heiwa
Daiichi Bldg 3F, 1-4-5 Hirakawacho Chiyodaku
Tel : 03-3221-6441
Fax : 03-3221-0443
URL : http://www.sun-eight.com
E-Mail address : info@sun-eight.com
ACTIVITIES
Import, wholesale of
confectionery/break making materials
BRANCHES
AGENT DEALERS
OFFICERS
YUKIO IBE, PRES
Yukiko Ibe, s/mgn dir
Hideaki Kano, dir
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,517 M
PAYMENTS REGULAR CAPITAL Yen 46 M
TREND STEADY WORTH Yen 273 M
STARTED 1979 EMPLOYES 33
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING
IN CONFECTIONERY & BREAD MAKING MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 35.9 MILLION,
30 DAYS NORMAL TERMS. .
HIGHLIGHTS:
The subject company was established
by Yukio Ibe in order to make most of his ex-perience in the subject line of
business. This is a specialized trading firm for import and wholesale of
confectionery/bread making materials.
Goods are imported widely from
FINANCIAL
INFORMATION:
The sales volume for Aug/2006 fiscal
term amounted to Yen 2,517 million, a 9% up from Yen ^ million in the previous
term. Material price hikes
contributed. The recurring profit was
posted at Yen 145 million and the net profit at Yen 75 million, respectively,
compared with Yen 147 million recurring profit and Yen 22 million net profit,
respectively, a year ago.
For the current term ending Aug 2007
the recurring profit is projected at Yen 150 million and the net profit at Yen
80 million, respectively, on a 9% rise in turnover, to Yen 2,750 million. Demand continues rising. Weaker Yen will also contribute to uplift sales
amount in Yen terms.
The financial situation is considered
FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 35.9
million, on 30 days normal terms.
REGISTRATION
Date Registered : Feb 1979
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 300,000 shares
Issued : 93,600 shares
Sum :
Yen 46.8 million
Major shareholders
(%)
Yukio Ibe (44), Yukiko Ibe (23),
Kimiko Miura (19)
No. of shareholders: 6
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION:
Activities: Imports and wholesales
confectionery & bread making materials (--100%).
(Handling
items): chocolates, pastes, frozen fruits,
syrups, cocoa powder, butter, jam, nectar, dried fruits, teas, canned fruits,
blueberries, almonds, nuts, natural water, seawater
salt, forcing bags, other.
Imports from
Clients
[Confectionery mfrs, bakeries,
department stores, hotels] Odakyu Department Stores, Iwase Esta Corp, Saint Gentleman
Co, Baikal, other. Also distributed
through 46 agent dealers nationwide from
No. of accounts: 3,000
Domestic areas of activities:
Nationwide
Suppliers
[Mfrs, wholesalers] Imports from
Major suppliers: Cap Fruits, Maron
Royal, Maitre Prunille, Noel Cruzilles, Panibois, Dammann Freres, Conserves
France, Conserves Guintrand, La Maison des Abeilles, Laiterie de Montaigu, Pecou, Gaston Monteux, Normandie Caramels,
Les Saines de Guerande, other (--France); Babbi, Fabbri, Saba, other (--Italy);
Borges (Spain), Freeze-Dry Foods (Germany), Oregon Freeze Dry (USA),
Keeplastics (Sweden), other.
Payment record
Regular
Location
Business area in
Bank References
MUFG (Kojimachi-Chuo)
SMBC (Kojimachi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual Sales |
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2,750
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2,517
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2,304
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2,208
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Recur. Profit |
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150 |
145 |
147 |
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Net Profit |
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80 |
75 |
22 |
42 |
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Total Assets |
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1,220
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1,137
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Current Assets |
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958 |
937 |
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Current Liabs |
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707 |
619 |
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Net Worth |
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273 |
215 |
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Capital, Paid-Up |
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46 |
46 |
46 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.26 |
9.24 |
4.35 |
6.72 |
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Current Ratio |
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135.50
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151.37
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N.Worth Ratio |
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22.38
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18.91
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R.Profit/Sales |
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5.45 |
5.76 |
6.38 |
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N.Profit/Sales |
2.91 |
2.98 |
0.95 |
1.90 |
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Return On Equity |
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27.47
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10.23
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.. |
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Note: Forecast (or estimated) for the
31/08/2007 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%)