MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
532-2 Kodai Sakai Osaka-Pref 590-0151 |
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Country : |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
Sept 1992 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing and processing
of rebuilt parts for automobiles |
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 79 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
REGD NAME
MAIN OFFICE
532-2 Kodai Sakai
Osaka-Pref 590-0151
Tel : 072-294-7711
Fax : 072-294-8811
URL : http://www.japanrebuilt.jp
E-Mail
address: info@japanrebuilty.jp
ACTIVITIES
Mfg,
processing of rebuilt parts for automobiles
BRANCHES
FACTORY(IES)
Kishiwada
(
OFFICERS
KATSUHIRO
TANAKA, PRES
Kazuhiro
Takaoka, dir
Katsunori
Tanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,200 M
PAYMENTS REGULAR CAPITAL Yen 90 M
TREND STEADY WORTH Yen
650 M
STARTED 1992 EMPLOYES 170
COMMENT
MFG OF REBUILT PARTS FOR AUTOMOBILES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$100,000 / D/A 60 DAYS.
MAX CREDIT LIMIT: YEN 79 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Katsuhiro Tanaka in order to make most of his experience in the subject line of business. Specializes in rebuilding & recycling of automobile engines and parts. Clients are local auto parts dealers, car dealers, other.
FINANCIAL INFORMATION
Financials are only partially disclosed and in rounded-off numbers.
The sales volume for Aug/2006 fiscal term amounted to Yen 4,200
million, a 5% up from Yen 4,000 million in the previous term. Robust production of automobiles spurred the
sales, particularly in
For the current term ending Aug 2007 the net profit is projected at Yen 108 million, on a 7% rise in turnover, to Yen 4,500 million. Sales are expected to continue growing.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 79 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Sept 1992
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 7,200 shares
Issued: 1,800 shares
Sum: Yen 90 million
Major shareholders (%):
Katsuhiro Tanaka (majority owned)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Rebuilds, recycles automobile engine parts & components (--100%).
(Rebuilt items):
Drive shaft, new & rebuilt CV joints; A/T mission,
torque converters, M/T mission; Power steering rack & pinion,
electric rack & pinion, gear box, pumps; Engines, cylinder head; starters,
alternators, A/C compressors, digital meters; Turbo chargers, injection pumps,
throttle chamber, carburetor, engine computers, etc.
Clients: [Car dealers, auto parts dealers] SPK, Turbo Techno Service, System Auto Parts, Daiichi Parts Shokai, Kinki Seido, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tatsumiya Kogyo, Mizuho Automobile Ind, Taiyo Corp, Toyotsu Recycle Corp, Koyo Turbo, other.
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (Sakai-Higashi)
Osaka
Shinkin Bank (Sugimoto)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
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Annual
Sales |
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4,500 |
4,200 |
4,000 |
4,000 |
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Recur.
Profit |
(*) |
.. |
.. |
137 |
231 |
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Net Profit |
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108 |
100 |
100 |
105 |
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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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650 |
550 |
450 |
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Capital,
Paid-Up |
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90 |
90 |
90 |
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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 |
7.14 |
5.00 |
0.00 |
5.26 |
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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 |
2.40 |
2.38 |
2.50 |
2.63 |
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Note: Financials
are only partially disclosed.
Forecast
(or estimated) for the 31/08/2007 fiscal term.
(*)
Pretax profits disclosed from the Taxation Office.
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%)