MIRA INFORM
REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIHON SOAR CO LTD |
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Registered Office : |
Towa Shinjuku Cope 1109, 2-6-3 Shinjuku Shinjukuku Tokyo 160-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1987 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Design, Maintenance of Greenhouse, Livestock Facilities |
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 1.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
NIHON SOAR CO LTD
REGD NAME: Nihon Soar KK
MAIN OFFICE: Towa Shinjuku Cope
1109, 2-6-3 Shinjuku Shinjukuku Tokyo 160-0002 JAPAN
Tel:
03-3341-3138 Fax: 03-3341-4364
URL: N/A
ACTIVITIES
Design, maintenance of greenhouse, livestock facilities
BRANCHES
Shinjuku
FACTORY(IES)
(subcontracted)
OFFICER(S)
TEIZO SHIMIZU, PRES
Kotaro Yamazaki, dir
Hideko Chishima, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 93 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 34 M
STARTED 1987 EMPLOYES 8
COMMENT
DESIGN, MANAGEMENT
OF GREENHOUSE & LIVESTOCK FACILITIES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1.8 MILLION, 30 DAYS, SECURED TERMS RECOMMENDED.
HIGHLIGHTS
The subject company was established by Teizo Shimizu in order to make most of his experience in the subject line of business. Specializes in design, development and maintenance works of greenhouse, livestock facilities, other agricultural facilities. Clients include Prefecture farm associations.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 93 million, a similar amount in the previous term. Business is seen steady. The net profit was posted similarly at Yen 1 million.
For the term just ended Mar 2008 the net profit was projected at Yen 1 million, on a 2% rise in turnover, to Yen 95 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 1.8 million, on 30 days, recommending secured terms on new transactions.
REGISTRATION
Date Registered: Apr 1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major shareholders (%)
Teizo Shimizu (79)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Designs, develops and maintains greenhouse, livestock facilities, other agricultural facilities, others (--100%).
Clients
[Farm coops, mfrs] Yamanashi-Pref Economic Federation, Kanto Farm Coops,
Mitsubishi Materials, other.
No. of accounts
500
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Doi Seisakusho, Yuden, Nepon Inc, Nittobo Materials, Sanki Keiso, Ryoko, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Saikyo Shinkin Bank (H/O)
SMBC (Shinjukudori)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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95 |
93 |
93 |
90 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
1 |
1 |
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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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34 |
33 |
32 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
2.15 |
0.00 |
3.33 |
0.00 |
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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 |
1.05 |
1.08 |
1.08 |
1.11 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)