MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOCAL JAPAN INC |
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Registered Office : |
Marine Park, 134915 Urasakicho Onomichi City Hiroshima-Pref 720-0551 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
June 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Iron & Steel Scraps |
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 52.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
GLOCAL JAPAN INC
REGD NAME: KK Glocal Japan
MAIN OFFICE: Marine Park, 134915
Urasakicho Onomichi City Hiroshima-Pref 720-0551 JAPAN
Tel:
084-987-5100 Fax: 084-987-5900
URL: http://www.glocal-japan.com/
E-Mail address: glocal_japan@ts.tsuneishi.co.jp
ACTIVITIES
Import, wholesale of
iron & steel scraps
BRANCHES
Kagoshima, Sakaiminato, Otaru
OVERSEAS
China (2), Hong Kong, Philippines, Panama (--subsidiaries)
OFFICER(S)
KATSUMI MARUTANI, PRES
Yoshihito Tanaka, s/mgn dir
Toshiki Yoshida, dir
Toshihiko Hatanaka, dir
Toyohiro Hosokawa, dir
Masami Kuwahara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 825 M
PAYMENTS REGULAR CAPITAL Yen 70 M
TREND STEADY WORTH Yen 185 M
STARTED 2004 EMPLOYES 23
COMMENT
TRADING FIRM SPECIALIZING IN IRON & STEEL SCRAPS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 52.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a trading firm by Tsuneishi Holdings, shipbuilder,
Hiroshima-Pref. This is a trading firm specializing in import, export and wholesale of iron & steel scraps. Products are imported from and exported to China, Philippines, other. Has 5 overseas subsidiaries: China (2), Hong Kong, Philippines and Panama.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 825 million, a 22% up from Yen 678 million in the previous term. This is attributed to the hike in materials prices and weaker Yen, uplifting sales in Yen terms. The recurring profit was posted at Yen 50 million and the net profit at Yen 54 million, respectively, compared with Yen 57 milling recurring profit and Yen 31 million net profit, respectively, a year ago.
For the current term ending Mar 2008 the net profit is projected at Yen 57 million, on a 9% rise in turnover, to Yen 900 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit is estimated at Yen
52.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 2004
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 5,600
shares
Issued: 1,400
shares
Sum: Yen
70 million
Major shareholders (%)
Masato Kambara (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales iron & steel
scraps (--100%).
Clients
[Wholesalers] Urabe Kinzoku, JFE
Shoji, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, shipbuilders] Tsuneishi
Holdings, others
Payment record
Regular
Location
Business
area in Onomichi City, Hiroshima-Pref.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
San’in Godo Bank (Fukuyama)
Bingo Shinkin Bank (Chitose)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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900 |
825 |
678 |
535 |
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Recur.
Profit |
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50 |
57 |
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Net
Profit |
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57 |
54 |
31 |
29 |
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Total
Assets |
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185 |
130 |
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Current
Assets |
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424 |
600 |
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Current
Liabs |
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181 |
656 |
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Net
Worth |
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185 |
130 |
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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 |
9.09 |
21.68 |
26.73 |
.. |
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Current Ratio |
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.. |
234.25 |
91.46 |
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N.Worth Ratio |
.. |
100.00 |
100.00 |
.. |
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R.Profit/Sales |
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6.06 |
8.41 |
.. |
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N.Profit/Sales |
6.33 |
6.55 |
4.57 |
5.42 |
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Return On Equity |
.. |
29.19 |
23.85 |
.. |
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Notes: The 31/03/2005 fiscal term is the initial accounting
term from the inception.
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%)