MIRA
INFORM REPORT
|
Report Date : |
12th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
SASC JAPAN INC |
|
|
|
|
Registered Office : |
Shambord Akasaka #501, 1-2-1 Akasaka Chuoku Fukuoka 810-0042, Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 (Estimated) |
|
|
|
|
Date of Incorporation : |
February 1997 |
|
|
|
|
Legal Form : |
Private Limited Company (Yugen Kaisha) |
|
|
|
|
Line of Business : |
Imports, as agent, vibro-energy round separators, rectangular
separators, screeners, filters, wire meshes, other particle-separation &
size reduction equipment, oil-related equipment & supplies. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company Name
SASC JAPAN INC*
*.. Also: MiSwaco Japan Inc, to represent rightly the US supplier, but
this is not registered.
REGD NAME
YK SASC Japan
MAIN OFFICE
Shambord Akasaka #501, 1-2-1 Akasaka Chuoku Fukuoka 810-0042 JAPAN
Tel : 092-718-0567
Fax : 092-718-0575
TOKYO OFFICE
Shiroyama JT Trust Tower #16, 4-3-1 Toranomon Minatoku Tokyo 105-6016
Tel : 03-5403-4657
Fax : 03-5403-4646
URL : http://www.swaco.co.jp/ (under construction)
E-Mail address : Kyushu@swaco.co.jp/
(Fukuoka Office)
Tokyo@swaco.co.jp/
(Tokyo Office)
shichidat@swaco.co.jp/
(President T Shichida)
ACTIVITIES
Import, as agent, of vibratory separator & screeners,
oil-related equipment
BRANCHES
Tokyo
OFFICER(S)
TATSUHIKO SHICHIDA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 340 M
PAYMENTS REGULAR CAPITAL Yen 14 M
TREND STEADY WORTH Yen 68 M
STARTED 1997 EMPLOYES 15
COMMENT
IMPORT AGENT SPECIALIZING IN VIBRATING SEPARATORS AND
FILTERS. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Tatsuhiko Shichida in
order to make most of his previous experience in foreign trading. The firm uses alternate name of “MiSWACO
Japan” for oil-related equipment business, but this is not registered. This is a small-sized trading house, based
in Fukuoka, specializing in importing, as agent, vibratory separators,
screeners, filters, wire mesh, other related separating equipment. Goods are imported from Swaco Inc, USA. The goods are applied in such industries as:
chemical, food & beverage, powder coating, pharmaceuticals, pulp &
paper, plastic, ceramic, laundry, other.
The firm also imports oil-related equipment and supplies from MiSWACO,
Sweco and Katch Kan Ltd, Canada.
FINANCIAL INFORMATION
The firm does not disclose full financials and the following
figures including all the information contained here have been directly
obtained from the firm’s treasurer.
The sales volume for Mar/2006 fiscal term amounted to Yen
300 million, a 43% sharp rise from Yen 209 million in the previous term,
according to the firm. Imports rose
sharply. The net profit was posted at
Yen 10 million.
For the current term ending Mar 2007 the net profit is
projected at Yen 11 million, on a 17% rise in turnover, to Yen 350
million. Weaker Yen will help to uplift
sales in Yen terms.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 5 million, on 30 days normal terms.
REGISTRATION
Date Registered : Feb 1997
Legal Status : Private Limited Company (Yugen
Kaisha)
Regd Capital : 14.25 million
Major shareholders (%)
Tatsuhiko Shichida (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports, as agent, vibro-energy round
separators, rectangular separators, screeners, filters, wire meshes, other
particle-separation & size reduction equipment (from Sweco Inc, USA),
oil-related equipment & supplies (from MiSwaco Inc, Katch Kan Ltd, Canada)
(--100%).
Exclusive agent for Sweco Inc, MiSwaco Inc (--USA) and Katch
Kan Ltd (Canada)
Clients
Chemical, food & beverage, powder coating,
pharmaceuticals, pulp & paper, plastic, ceramic,
laundry, other industries.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports from Sweco Inc, USA, MiSWACO,
Katch Kan Ltd (Canada).
Payment record
Regular
Location
Business area in Fukuoka.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Fukuoka)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms
Ending: |
|
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
Annual Sales |
|
350 |
300 |
210 |
|
Recur. Profit |
|
.. |
.. |
.. |
|
Net Profit |
|
11 |
10 |
5 |
|
Total Assets |
|
|
N/A |
N/A |
|
Net Worth |
|
|
68 |
68 |
|
Capital, Paid-Up |
|
|
14 |
14 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
16.67 |
42.86 |
5.00 |
|
|
Current Ratio |
|
|
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
|
|
N.Profit/Sales |
3.14 |
3.33 |
2.38 |
|
Note: Financials are obtained from the firm’s treasurer in partial figures.
Forecast for the 31/03/2007 fiscal term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)