MIRA INFORM REPORT

 

 

Report Date :

25.05.2007

 

IDENTIFICATION DETAILS

 

Name :

ASIA PACIFIC ENTERPRISES INC

 

 

Registered Office :

Asia Taiheiyo (Pacific) Bldg, 1-8-13 Kyobashi Chuoku Tokyo 104-0031

 

 

Country :

Japan

 

 

Date of Incorporation :

Jan 1972

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import agent of machine tools, snipers, ammunitions

 

 

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

 

Maximum Credit Limit :

Yen 5 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

--

 

 

name

 

ASIA PACIFIC ENTERPRISES INC

 

 

REGD NAME

 

Asia Taiheiyo (Pacific) Kigyo KK

 

 

MAIN OFFICE

 

Asia Taiheiyo (Pacific) Bldg, 1-8-13 Kyobashi Chuoku Tokyo 104-0031 JAPAN

Tel        : 03-3561-5291    

Fax       : 03-3561-5293

URL      : N/A

 

 

ACTIVITIES

 

Import agent of machine tools, snipers, ammunitions

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

P W KOIKE, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 300 M*

PAYMENTS      REGULAR                     CAPITAL           Yen 45 M

TREND             STEADY                       WORTH            Yen 181 M*

STARTED         1972                             EMPLOYES      5

 

*.. All figures are only estimated as no financials are disclosed.

 

 

 

 

 

 

COMMENT

 

COMMISSION MERCHANT SPECIALIZING IN MACHINE TOOLS.  FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 5 MILLION, 30 DAYS NORMAL TERMS. 

 

 

HIGHLIGHTS

           

The subject company was established Japan representative office by Oerlikon-Buehrle of Switz for marketing machine tools.  The building is said owned by the subject firm, which was originally built on fixed mortgages from UBS; the mortgages have now been released.  In 1972,         incorporated to start import and wholesale business (as commission merchant) of machine tools     and other items. The firm’s name is known as one of the sniper suppliers to the Ministry of Defense.  Anti-personal snipers (AK74 snipers) and ammunitions are supplied on optional contracts to Japan Maritime Self-Defense Forces (as below).  Exclusive sales agent for BAE (UK) supplying sniper ammunitions to Ministry of Defense. 

 

Reported supply contracts (optional) to Japan Maritime Self-Defense Forces:

AK74 Sniper x 2 contracted Oct/05, supplied Jan/2006, contract price Yen 1,085,700 for the two units; Ammunitions contracted Feb/2006, contract price Yen 1,848,000, products of BAE (UK) for which the subject firm holds exclusive marketing contract in Japan with BAE

 

 

FINANCIAL INFORMATION

           

The subject does not disclose or refused to disclose any of its financials and no other credit agencies have any exact figures.  We have only estimated from the past and the number of employees that as commission merchant Yen 300 million or around is the reasonable & proper figures.  Revenues from the owned building are not counted.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 5 million, on 30 days normal terms.  We have rated the firm as FAIR despite the lack of financials and other managerial information on the basis of its credibility as a supplier to the Ministry of Defense.  The Ministry scrutinizes all financials and status before accepting any firm as suppliers of any kind.  Credit terms are, however, recommended to be fixed on any new transactions. 

 

 

REGISTRATION

 

Date Registered:            Jan 1972

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    360,000 shares

Issued:                          90,000 shares

Sum:                            Yen 45 million

Major shareholders (%): P W Koike, Koike families & relatives (Estimated only as details not disclosed)

           

Nothing detrimental is known as to the commercial morality of executives.

 

 

 

 

 

 

OPERATION

 

Activities: Imports and wholesales, as commission merchant, machine tools, snipers, ammunitions, others (--100%).

 

Clients: [Governments, mfrs, wholesalers] Ministry of Defense (Japan Maritime Self-Defense Force), other. 

 

No. of accounts: Unavailable

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] BAE (UK), other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References

 

MUFG (Nihombashi)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

 

NOT MADE AVAILABLE

 

           


 

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%)

 

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