MIRA
INFORM REPORT
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Report Date : |
1st March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
UNITRADE CO LTD |
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Registered Office : |
Makino Bldg 2F, 2-8-1 Hatchobori Chuoku Tokyo 104-0032, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 (Estimated) |
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Date of Incorporation : |
April 1977 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports, exports and wholesales hardwoods, treated timbers
for bridges, board walks, handrails, outdoor furniture, landscape, fencing,
decking, and flooring. |
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 5.2 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
UNITRADE CO LTD
REGD NAME
KK Unitrade
MAIN OFFICE
Makino Bldg 2F, 2-8-1 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel :
03-3553-9520
Fax :
03-3553-9562
URL :
N/A
E-Mail address :
koji_kikkawa@unitrade.co.jp
ACTIVITIES
Import, export, wholesale of hardwood
BRANCHES
Nil
OFFICER(S)
KOJI KIKKAWA, PRES
Teruya Kokubo, dir
Fumito Kikkawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 400 M
PAYMENTS REGULAR CAPITAL Yen 70 M
TREND SLOW WORTH Yen 128 M
STARTED 1977 EMPLOYES 4
COMMENT
IMPORTER AND EXPORTER OF HARDWOODS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR MODERATE BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 5.2 MILLION, SECURED TERMS RECOMMENDED
HIGHLIGHTS
The subject company was established by Koji Kikkawa in order
to make most of his experience in the subject line of business. The firm is affiliated to Outdoor Structures
Australia, Galton, Southeast Queensland, and imports and exports, as its
representative office in Japan, hardwoods & treated timbers for bridges,
boardwalks, outdoor furniture, landscaping, traffic control, fencing, decking,
flooring, etc, produced by the maker.
Products are also exported.
Domestic clients are general contractors, house builders, design
offices, specialty stores, other. The firm
does not disclose full financials, only except the following partial figures.
FINANCIAL INFORMATION
The sales volume for Dec/2005 fiscal term amounted to Yen
400 million, an 11% down from Yen 450 million in the previous term. The net profit was posted at Yen 13 million,
down from Yen 15 million a year ago.
For the term ended Dec 2006 the net profit is believed posted
at Yen 15 million, on a 13% rise in turnover, to Yen 450 million. Final results are yet to be produced.
The financial situation is considered maintained RATHER WEAK
but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 5.2 million, on fully
secured terms recommended.
REGISTRATION
Date Registered : Apr
1977
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
560,000 shares
Issued :
140,000 shares
Sum :
Yen 70 million
Major shareholders (%)
Koji Kikkawa (70)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales hardwoods,
treated timbers for bridges, board walks,handrails,
outdoor furniture, landscape, fencing, decking, flooring, produced by Outdoor
Structures, Australia (--100%).
Products are also exported to USA, other.
Clients
[Timber processors,
contractors, house builders, specialty stores] Benson Guam, Vans Philip, Guam
Hardwoods, Sumitomo Mitsui Construction, other. Exports to Fiji, Oceania, Saipan, Guam, New Guinea, Palau, other.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Outdoor Structures
Australia, China Thailand, etc.
Domestically, supplied from Hanwa Corp, Marunaka, Pilot Corporation,
other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Kyobashi)
Mizuho Bank (Yaesuguchi)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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450 |
400 |
450 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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15 |
13 |
15 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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128 |
115 |
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Capital,
Paid-Up |
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70 |
70 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
12.50 |
-11.11 |
28.57 |
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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 |
3.33 |
3.25 |
3.33 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2006 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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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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions