MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNNOH TRADING CO LTD |
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Registered Office : |
5-21-23 Mejiro Toshimaku Tokyo 171-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
June 1983 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import of Aircraft Parts and Components |
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 2.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SUNNOH TRADING CO
LTD
REGD NAME: Sunnoh Shoji KK
MAIN OFFICE: 5-21-23 Mejiro Toshimaku Tokyo 171-0031JAPAN
Tel:
03-3953-5252 Fax: 03-3953-5301
URL: N/A
ACTIVITIES
Import of aircraft parts & components
BRANCHES
Nil
OFFICER(S)
Y
ASUSHI NOH, PRES
Tetsuhiko Noh, dir
Miki Noh, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 150 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 35 M
STARTED 1983 EMPLOYES 3
COMMENT
IMPORTER OF AIRCRAFT PARTS & COMPONENTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 2.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yasushi Noh in order to make most of his experience in the subject line of business. This is a trading firm for import and wholesale of aircraft parts & components. Recent supply to Self Defense Agency includes aircraft shooting equipment & parts, as officially reported by the Agency. Acts as import agent for: S Aero, Eaton Inc, Nylock Fasteners (--USA). Domestic clients include heavy machinery mfrs, Self Defense Agency, other. The firm does not disclose management & financial information, as normally the case for family-based company.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2008 fiscal term amounted to Yen 150 million, a similar amount in the previous term. The net profit was posted at Yen 2 million, up from Yen 1 million a year ago
For the current term ending Mar 2009 the net profit is projected at Yen 2 million, on a 7% rise in turnover, to Yen 160 million. Material price hike may push sales amount upwards
The financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit is estimated at Yen 2.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1983
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Yasushi Noh (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales aircraft parts & components, acting as import agent for three US mfrs (--100%).
Agent for: S Aero, Eaton Inc and Nylock Fastener (--USA).
Products include strategic equipment/parts supplied to Self Defense Agency.
Clients
[Heavy machinery mfrs, governments] Fuji Heavy Ind, IHI, Mitsubishi Heavy Ind, Self Defense Agency, Kawasaki Heavy Ind, Yokohama Robber, other.
No. of accounts: 200
Domestic areas of activities: Nationwide
Suppliers
[Mfrs] Imports as agent from S Aero, Eaton Inc & Nylock Fastener (--USA)
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Ikebukuro)
Resona Bank (Ikebukuro)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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160 |
150 |
150 |
110 |
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Recur.
Profit |
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Net
Profit |
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2 |
2 |
1 |
2 |
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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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35 |
33 |
32 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
6.67 |
0.00 |
36.36 |
4.76 |
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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 |
1.25 |
1.33 |
0.67 |
1.82 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2009 fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)