MIRA
INFORM REPORT
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Report Date : |
14.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
T.N.B. CO LTD |
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Registered Office : |
Tomiyama Bldg 6F, 4-10-7 Nihombashi-Honcho Chuoku Tokyo 103-0023 |
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Country : |
Japan |
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Date of Incorporation : |
Jul 1996 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of
industrial chemicals |
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 6.3 millions |
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Status : |
Fair |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
T.N.B. CO LTD
REGD NAME
KK T. N. B.
MAIN OFFICE
Tomiyama Bldg 6F, 4-10-7 Nihombashi-Honcho Chuoku Tokyo 103-0023 JAPAN
Tel : 03-3664-2861
Fax : 03-3664-2862
*.. The given address is its Nagoya Branch at: 15 Ukinocho
Nishiku Nagoya
URL : N/A
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
Nagoya (address as given)
OFFICER(S)
YOSHIHIKO TAKAMI, PRES
Noboru Nagasaka, dir
Nobuo Imaoka, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 405 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND STEADY WORTH Yen 33 M
STARTED 1996 EMPLOYES 4
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR BUT DOUBTFUL FOR CREDIT
ENGAGEMENTS: US$70,000 / O/A 15 DAYS.
MAX CREDIT LIMIT: YEN 6.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yoshihiko Takami in
order to make most of his previous experience in the subject line of
business. This is a trading house
specializing in industrial chemicals (raw materials & intermediates); main
item being adhesive agents. Goods are
both imported and exported. Clients
include major food processors, feed processors, etc, nationwide.
FINANCIAL INFORMATION
The financials are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 405 million, an almost similar amount in the previous term. The sales did not expand as expected, due to competition among the trade. The net profit decreased to Yen 1 million from Yen 3 million a year ago. Rising costs of operations ate into profits. The firm decreased the staff member to 4 from the previous 5.
For the current term ending Mar 2007 the net profit is
projected at Yen 3 million, on a 4% rise in turnover, to Yen 420 million. While sales volume may remain at similar
level, the weaker Yen may boost sales in Yen terms.
The financial situation is considered maintained FAIR and good
for RODINARY business engagements. The
proposed amount, however, is considered TOO HIGH from the recent financial
status. Max credit limit is estimated
at Yen 6.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1996
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,200
shares
Issued: 300
shares
Sum: Yen
15 million
Major shareholders (%):
Yoshihiko Takami (27), Noboru Nagasaka (25), Yoshimasa Nagata (15)
No. of shareholders: 8
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales adhesives, other
industrial chemicals, raw materials & intermediates, synthetic resin products,
others (--100%).
Clients: [Food processors, feed mfrs, feeds traders] Nisshin Flour Milling, Itochu Feed Mills, Marubeni Nisshin Feed, Chukyo Yushi, Chubu Suisan, Bishu Mokuzai Kogyo, Scientific Feed Laboratory, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Daicel Chemical Ind, Toho Rika, Kurogane Fines Inc, Inuiu Eiyokagaku, Aica
Kogyo, other. Imports
from Netherlands, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Ningyocho)
Chunichi Shinkin Bank (Hirata)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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420 |
405 |
402 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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3 |
1 |
3 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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33 |
32 |
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Capital,
Paid-Up |
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15 |
15 |
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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 |
3.70 |
0.75 |
5.79 |
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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 |
0.71 |
0.25 |
0.75 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2007 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%)