MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AFFIVAL KK |
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Registered Office : |
Tamaki Bldg 7F, 2-15-17 Shimbashi Minatoku Tokyo 105-0004 |
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Country : |
Japan |
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Date of Incorporation : |
May 1987 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of cored wires,
wire feeding systems for steel makers |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
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name
AFFIVAL KK
REGD NAME
Affival KK
MAIN OFFICE
Tamaki Bldg 7F, 2-15-17 Shimbashi Minatoku Tokyo 105-0004 JAPAN
Tel: 03-3508-8682
Fax: 03-3508-8683
URL: Http://www.affivalinc.com (French parent)
E-Mail address: info@affival.com; taida@aurora.dti.ne.jp
ACTIVITIES
Import, wholesale of cored wires, wire feeding systems for
steel makers
BRANCHES
Nil
OFFICER(S)
YOH TAIDA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 400 M*
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND UNDETD WORTH Yen 126 M
STARTED 1987 EMPLOYES 3
*.. Estimated figures only as no financials are released.
COMMENT
IMPORTER SPECIALIZING IN CORED WIRES AND PHERIPHERAL EQUIPMENT, OWNED BY AFFIVAL GROUP, FRANCE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
WE RECOMMEND SECURED TERMS ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established as the Japan Office by Affival Group, France, for marketing its products of nonferrous metals and products. The firm imports industrial cored wires, produced by the Group, for steel industry. Also handles wire injection equipment & systems, and associated products. Acts as commission merchant for the French parent. Clients are major steel mills nationwide. The firm declined again to disclose any further information other than stated in this report, saying that the firm is not allowed to divulge any information relative to the management, financials and other material data unless with the approval of the French Headquarters. No other databases or outside source data are available, either. One database has the information but is old-dated in Oct 2003. Client names are not disclosed.
FINANCIAL INFORMATION
The firm does not disclose financials and the following figures are only our estimates gathered from the conversation with Y Taida. The local taxation office has no record of pretax profits reported from the firm.
The
revenues for Mar/2006 fiscal term are assumed amounted to Yen 400 million, 33%
up from Yen 300 million a year ago. The
net profit is assumed to have been posted at Yen 10 million, but not verified.
For the current term ending Mar 2007 the net profit is
estimated to mark time at Yen 10 million, on a 5% rise in turnover, to Yen 420
million. The growth is expected from
the weaker Yen against foreign currencies lifting sales amount in Yen
terms.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. We,
however, recommend fully secured terms on new transactions.
REGISTRATION
Date Registered: May
1987
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,000
shares
Issued: 500
shares
Sum: Yen
25 million
Major
shareholders (%): Affival Group, France (100).
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports (as commission merchant) and wholesales
industrial cored wires, wire injection
systems, other related products for steel industry (--100%). Products are supplied from Affival Group
firms worldwide.
Cored wires are made of low carbon steel sheath into which the
powdered minerals, metals and ferroalloys are tightly encased, according to the
firm.
Cored Wires: Calcium Bearing, carbon, sulphur, aluminum, iron, lead, bismuth, selenium, antimony, nitrogen bearing, tellurium, silicon, niobium (columbium), vanadium, boron, manganese, chromium, molybdenum, tungsten, yttrium, rare earths, other.
Aluminum (plain) wires:
wire feeding equipment, wire injectors, guide tubes, roller assemblies,
automation, servicing, other.
Clients: [Steel mills] Nippon Steel, Sumitomo Metal Ind, JFE
Steel, other. (Client names not openly mentioned, just responded to our
queries)
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs] Imports from Affival Group firms, France,
USA, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Local Bank (Not disclosed)
Relations: Money deposits & transfers only
FINANCES
(In Million Yen)
NOT MADE AVAILABLE
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%)