MIRA INFORM
REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRANS PACIFIC TRADING KK |
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Registered Office : |
Saga Flat 504, 1-9-12 Kotoku Tokyo 135-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
September 2006 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Softwood Lumber Products |
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 11 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
TRANS PACIFIC TRADING KK
REGD NAME: Trans Pacific Trading
KK
MAIN OFFICE: Saga Flat 504, 1-9-12
Kotoku Tokyo 135-0031 JAPAN
Tel:
03-5621-5335 Fax: 03-5621-5337
URL: http://www.trapa.ca/
E-Mail address: japan@trapa.ca
ACTIVITIES
Import, wholesale of softwood lumber products
BRANCHES
Nil
OFFICER(S)
HIDEYUKI UEDA, PRES (BRANCH MGR)
Barry L Tyrer, dir (pres of the Canadian parent)*
James M Tyrer, dir (v pres of the Canadian parent)*
* Both registered as directors, but part-time directors
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 630 M
PAYMENTS REGULAR CAPITAL Yen 2 M
TREND STEADY WORTH Yen 12 M
STARTED 2006 EMPLOYES 4
COMMENT
MPORTER & WHOLESALER OF LUMBER PRODUCTS, OWNED BY TRANS PACIFIC TRADING LTD, CANADA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 11 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in Dec 1998
as Japan Branch Office by Trans Pacific Trading Ltd, Canada and was
incorporated in 2006. This is a trader
for import and wholesale of softwood
lumber products, all imported from the Canadian parent and group firms. Goods vary from Western red cedar to hemlock
decking products (see OPERATION). Clients are lumber traders, house builders,
other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2007 fiscal term amounted to Yen
630 million, up from Yen 78 million for initial 3 month period. The net profit is believed posted at Yen 10
million.
For the current term ending Dec 2008 the net profit is
projected at Yen 10 million, on a 20% rise in turnover, to Yen 750
million. Business started on the right
track for growth utilizing wide networks in Japan.
The financial situation is considered maintained FAIR and
good for ORDINARY business
engagements. Max
credit limit is estimated at Yen 11 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 2006
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 50
shares
Issued: 50
shares
Sum: Yen
2.5 million
Major shareholders (%)
Barry Tyrer, James Tyrer, Hideyuki Ueda (--100)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales software lumber from
Western red cedar to hemlock decking products (--100%).
Goods are imported wholly from Pacific Trans Trading Ltd,
Canada and its group firms.
(Items
handled): Douglas fir clear fitches, Douglas fir lam stock, Douglas
fir beams & squares, Hemlock dodai, Hemlock clear fitches, Hemlock &
Douglas fir crating & pallet, Hemlock clear boards, Hemlock pressure
treated decking, Russian pine lam stock, Russian spruce DIY products, Western
red cedar, other.
Clients
[Lumber traders,
house builders] Japan Housing & Components Mfrs Coop, Murakami Lumber Co,
Kaga Mokuzai, other.
No. of accounts
100
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs] Trans Pacific
Trading Ltd, WFP, KFP, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Fukagawa)
Tokyo Tomin Bank (Kayabacho)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
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Annual
Sales |
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750 |
630 |
78 |
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Recur.
Profit |
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Net
Profit |
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10 |
10 |
0 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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12 |
2 |
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Capital,
Paid-Up |
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2 |
2 |
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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 |
19.05 |
101.92 |
--- |
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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 |
1.33 |
1.59 |
0.00 |
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Notes: Financials are only partially disclosed.
The 31/12/2006 fiscal term is for irregular 3 months from
the inception.
The growth rate is adjusted on a 12-month basis.
Forecast (or estimated) figures for the 31/12/2008 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%)