MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
HELM JAPAN LIMITED |
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Registered Office : |
Shinjuku Mitsui Bldg No.2 3F, 3-2-11 Nishishinjuku Shinjukuku Tokyo
160-0023 |
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Country : |
Japan |
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Date of Incorporation : |
November, 1967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of industrial chemicals |
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 29.2 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name of the company
HELM JAPAN LTD
REGD NAME: Helm Japan KK
MAIN OFFICE
Shinjuku Mitsui Bldg No.2 3F, 3-2-11 Nishishinjuku Shinjukuku Tokyo
160-0023 JAPAN
Tel: 03-5322-6123
Fax: 03-5322-3153
URL
E-Mail address
helm@helm-japan.com
ACTIVITIES
Import, export, wholesale of industrial chemicals
BRANCHES
Nil
OFFICER(S)
SONDERHOFF HARTWIG, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,900 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen 4 M
STARTED 1967 EMPLOYES 4
COMMENT
TRADING HOUSE SPECIALIZING IN INDUSTRIAL CHEMICALS, WHOLLY OWNED BY HELM
AG, GERMANY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 29.2 MILLION, 30 DAYS NORMAL TERMS. SECURED TERMS RECOMMENDE ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was established as a
marketing office in Japan by Helm AG, Hamburg, Germany. This is a trading house specializing in import
and export of industrial chemicals.
Imports industrial chemicals and exports pharmaceutical ingredients,
etc. Imports are from Germany, USA,
China, Russia, other. Also exports to
these countries.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume
for Dec/2006 fiscal term amounted to Yen 1,900 million, an 81% up from Yen
1,050 million a year ago. This is
attributed to the hike in materials prices across the board. The operations, on the other hand, plunged
into the red to register Yen 10 million net losses, compared with Yen 12
million net profit a year ago. Rising
operation costs ate into profits. The
firm is in the process of restructuring.
For the current
term just ended Dec 2007 the operations are thought to have come back
profitability but still limited to a minimum amount post-taxes, on a 5% rise in
turnover, to Yen 2,000 million. Weaker
Yen should have raised sales in Yen terms.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 29.2,
on 30 days normal terms. Secured terms
recommended on new transactions.
REGISTRATION
Date Registered: Nov 1967
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 60,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major shareholders (%): Helm AG (Germany) (100)
Nothing detrimental is knows as to the commercial morality of
executives.
OPERATION
Activities: Imports (40%), exports (60%) and
wholesale of industrial chemicals (--100%).
(Handling items):
Industrial
chemicals;
Pharmaceutical
ingredients;
Nutrition: (Animal nutrition,
human nutrition);
Fertilizers: potassium,
compounds, phosphate, nitrogen, raw material;
Crop protection: herbicides,
insecticides, fungicides;
Polymers: EPS, HDPE, LDPE,
PET, PMMA, PP, PS, PVC, other.
Clients
[Mfrs, wholesalers] Helm AG & group
firms (80%),Sumitomo Bakelite, Showa Shell Sekiyu, Idemitsu Kosan, Arakawa
Chemical Ind, Toyo Ink Mfg, other.
No. of accounts: 50
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Helm AG & group
firms (10%), Sumitomo Chemical, Mitsubishi Chemical, Nippon Shokubai,
other. Imports from China, Russia, USA,
Germany, other.
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Commerz Bank (Tokyo)
MUFG (Akasaka)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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2,000 |
1,900 |
1,050 |
1,000 |
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Recur. Profit |
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Net Profit |
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0 |
-10 |
12 |
-20 |
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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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4 |
14 |
2 |
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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 |
5.26 |
80.95 |
5.00 |
-16.67 |
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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 |
0.00 |
-0.53 |
1.14 |
-2.00 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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%)