MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
I-CHEMICAL CO LTD |
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Registered Office : |
Tsunoda Bldg 4F, 2-44-4 Shimoigusa Suginamiku Tokyo 167-0022 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
December 2000 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export, Import of Plastic Wastes and Materials |
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 27.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
I-CHEMICAL CO LTD
REGD NAME: KK I-Chemical
MAIN OFFICE: Tsunoda Bldg 4F, 2-44-4 Shimoigusa Suginamiku
Tokyo 167-0022 JAPAN
Tel:
03-3395-2126 Fax: 03-3395-2124
URL: http://www.i-chemical.co.jp/
E-Mail address: info@info@i-chemical.co.jp
ACTIVITIES
Export, import of plastic wastes & materials
BRANCHES
Shiga
OVERSEAS
Hong Kong
FACTORY(IES)
(subcontracted)
OFFICER(S)
TAKEMI TSUNODA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,433 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 76 M
STARTED 2000 EMPLOYES 8
COMMENT
EXPORTER OF PLASTIC WASTES & MATERIALS..
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 27.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Takemi Tsunoda in order to make mot of her experieence in the subject line of business. This is a trading firm specializing in exporting plastic waste & materials in the main. Goods are also imported. Export destinations are India, Hong Kong, China, Taiwan, Korea, Malaysia, other S/E Asian countries. Materials for exports are supplied from Major synthetic resin makers.
FINANCIAL INFORMATION
Financials are only partially disclosed. The firm declined to disclose any financials other than given as under.
The sales volume for Sept/2007 fiscal term amounted to Yen 1,433 million, a 22% up from Yen 1,172 million in the previous term. The rising hikes in materials costs contributed. Weaker Yen also assisted to raise sales in Yen terms. The net profit was posted at Yen 10 million, up from Yen 5 million a year ago.
For the current term ending Sept 2008 the net profit is projected at Yen 13 million, on a 12% rise in turnover, to Yen 1,600 million. Exports continue robust and rising materials cost will assist
The financial situation is considered FAIR and good for ORDIANRY business engagements. Max credit limit is estimated at Yen 27.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 2000
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major shareholders (%)
Takemi Tsunoda (100)
Nothing detrimental is known as to her commercial morality.
OPERATION
Activities: Exports, imports of plastic materials & waster (--100%)
(Materials handled):
Materials: LDPE, PP, GPPF, HIPS, ABS, PC, PVC, PET, FMMA, MS, other:
Recycled plastics: virgin pellet repro-pellet, OG pellet, regrinds, cut-off, sheet, film (press/roll), board, runner, rejected molding parts/products;
Packing: flexible container bags, paper bags, press in bale, iron container, other,
Clients
[Makers, wholesalers] Exports to Hong Kong, China, India, Malaysia, Korea, Taiwan, other
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Supplied from major plastic resin mfrs
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Koenji)
SMBC (Shimoigusa)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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1,600 |
1,433 |
1,172 |
912 |
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Recur.
Profit |
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Net
Profit |
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13 |
10 |
5 |
18 |
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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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76 |
66 |
61 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
11.65 |
22.27 |
28.51 |
68.58 |
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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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.. |
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N.Profit/Sales |
0.81 |
0.70 |
0.43 |
1.97 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/09/2008 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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)