MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITRADE CO LTD |
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Registered Office : |
Makino Bldg 2F, 2-8-1 Hatchobori Chuoku Tokyo 104-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April 1977 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Hardwood, Canned Foods |
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 7.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
UNITRADE CO LTD
REGD NAME: KK Unitrade
MAIN OFFICE: Makino Bldg 2F, 2-8-1
Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel:
03-3553-9520 Fax: 03-3553-9562
URL: N/A
E-Mail address: koji_kikkawa@unitrade.co.jp
ACTIVITIES
Import, export, wholesale of hardwood, canned foods
BRANCHES
Nil
OFFICER(S)
KOJI KIKKAWA, PRES
Teruya Kokubo, dir
Fumito Kikkawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen 70 M
TREND SLOW WORTH Yen 143 M
STARTED 1977 EMPLOYES 4
COMMENT
IMPORTER AND EXPORTER OF HARDWOODS.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS:
US$200,000 / O/A 30 DAYS
MAX CREDIT LIMIT
YEN 7.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Koji Kikkawa in order to make most of his
experience in the subject line of business.
The firm is affiliated to Outdoor Structures Australia, Galton,
Southeast Queensland, and imports and exports, as its representative office in
Japan, hardwoods & treated timbers for bridges, boardwalks, outdoor
furniture, landscaping, traffic control, fencing, decking, flooring, etc,
produced by the maker. Products are
also exported. Also handles canned
foods. Domestic clients are general
contractors, house builders, design offices, specialty stores, other.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales
volume for Dec/2006 fiscal term amounted to Yen 450 million, a 13% up from Yen
400 million in the previous term. The
net profit was posted at Yen 15 million, up from Yen 13 million a year ago. Exports rose to South Pacific Islands.
For
the term ended Dec 2007 the net profit is believed posted at Yen 15 million, on
a similar turnover, at Yen 450 million.
Final results are yet to be produced.
The
financial situation is considered maintained RATHER WEAK but should be good for
MODERATE business engagements. The
proposed amount, however, is considered TOO HIGH from the recent financial
status. Max credit limit is estimated
at Yen 7.8 million, on 30 days normal terms
REGISTRATION
Date Registered: Apr
1977
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 560,000
shares
Issued: 140,000
shares
Sum: Yen
70 million
Major shareholders (%)
Koji Kikkawa (70)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports, exports and wholesales hardwoods, treated timbers for bridges, board walks, handrails, outdoor furniture,
landscape, fencing, decking, flooring, produced by Outdoor Structures,
Australia (--100%).
Products are also exported to
USA, other.
Clients
[Timber processors, contractors, house builders, specialty stores]
Benson Guam, Vans Philip, Guam Hardwoods, Sumitomo Mitsui Construction,
other.
Exports to Fiji, Oceania,
Saipan, Guam, New Guinea, Palau, other.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs,
wholesalers] Imports from Outdoor Structures Australia, China Thailand, etc. Domestically, supplied from Hanwa
Corp, Marunaka, Pilot Corporation, other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC (Kyobashi)
Mizuho Bank (Yaesuguchi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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450 |
450 |
400 |
450 |
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Recur.
Profit |
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Net
Profit |
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15 |
15 |
13 |
15 |
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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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143 |
128 |
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Capital,
Paid-Up |
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70 |
70 |
70 |
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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 |
0.00 |
12.50 |
-11.11 |
28.57 |
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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 |
3.33 |
3.33 |
3.25 |
3.33 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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. |
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%)