MIRA
INFORM REPORT
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Report Date : |
27.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
I S TECH CORPORATION |
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Registered Office : |
5-3-13 Hiyoshidai Tomisato City Chiba-Pref 286-0261 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
January 1997 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, export of measuring instruments |
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. |
Small |
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Maximum Credit Limit : |
YEN 1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
I S TECH CORPORATION
REGD NAME: I S Tech YK
MAIN OFFICE: 5-3-13 Hiyoshidai
Tomisato City Chiba-Pref 286-0261 JAPAN
Tel:
0476-93-1532 Fax: 0476-93-1841
ACTIVITIES
Import, export of measuring instruments
BRANCHES
Nil
OFFICER(S)
SHIGEYUKI ITAKURA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 44 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 13 M
STARTED 1997 EMPLOYES 1
COMMENT
IMPORTER AND EXPORTER OF MEASURINT INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Shigeyuki Itakura in order to make most of his experience in the subject line of business. This is a one-man operated trading firm specializing in exporting precision instruments. Goods are also imported. Destinations are Korea, Thailand, etc.
30% of the goods are imported from USA.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Aug/2007 fiscal term amounted to Yen 44 million, a 12% down from Yen 50 million in the previous term. Some cancellation of orders occurred, reportedly. The net profit remained at Yen 1 million.
For the current term ending Aug 2008 the net profit is projected at Yen 1 million, on a 14% rise in turnover, to Yen 50 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1997
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 3 million
Major shareholders (%)
Shigeyuki Itakura (100)
OPERATION
Activities: Imports, exports and wholesales measuring instruments related to bio-chemicals (100%).
30% of the goods are imported from USA.
Clients
[Mfrs, wholesalers] ABC Enterprise, Bio Machinery, Thai
Hybex, Thai Technology (--Thailand), Magus Corporation (Korea), other.
No. of accounts
200
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers]
Isuzu Seisakusho, CLP, Surgevet (--USA), Sotec Co, KDK Corp, other.
Payment record
Regular
Location
Business area in Tomisato City,
Chiba-Pref. Office premises at the
caption address are owned by S Itakura as his private residence and maintained
satisfactorily.
Bank References
Keiyo Bank (Narita)
Mizuho Bank (Narita)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/08/2008 |
31/08/2007 |
31/08/2006 |
31/08/2005 |
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Annual
Sales |
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50 |
44 |
50 |
34 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
1 |
0 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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13 |
12 |
11 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
13.64 |
-12.00 |
47.06 |
-43.33 |
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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 |
2.00 |
2.27 |
2.00 |
0.00 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2008 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. |
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%)