MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUMMIT CRM LTD |
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Registered Office : |
Harumi Triton Square Office Tower 25F, 1-8-12 Harumi Chuoku Tokyo
104-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
November, 1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales oil cokes, refractory materials,
casting materials, fuels, other |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 150 million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
SUMMIT CRM LTD
REGD NAME: Sumisho CRM KK
MAIN OFFICE
Harumi Triton Square Office Tower 25F, 1-8-12 Harumi Chuoku Tokyo
104-0053 JAPAN
Tel: 03-5144-9950
Fax: 03-5144-9982
URL
E-Mail address
info@scrm.co.jp
ACTIVITIES
Import, export, wholesale cokes, refractory materials, steel products
BRANCHES
Osaka, Wakayama, Kashima, Kitakyushu
OFFICER(S)
KOICHIRO ASADA, PRES Shin’ichi
Uryu, dir
Toshiaki Murai, dir Masaru
Nakane, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 19,000 M
PAYMENTS REGULAR CAPITAL Yen 498 M
TREND STEADY WORTH Yen 725 M
STARTED 1996 EMPLOYES 35
COMMENT
TRADING FIRM SPECIALIZING IN REFRACTORIES &
COKES, WHOLLY OWNED BY SUMITOMO CORPORATION. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 150 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject
company was established on the basis of a division separated from Sumitomo
Corporation. This is a trading house
specializing in cokes, refractory materials, casting materials, other. Goods are imported from China mainly, other
from USA, Australia, Vietnam and S Africa.
Clients include metal mfrs, steel mills, etc. In Feb 2006, transferred from the parent part of oil cokes
business operations.
FINANCIAL INFORMATION:
The sales volume
for Mar/2007 fiscal term amounted to Yen 19,000 million, a 476% leap from Yen
3,300 million in the previous term.
This is attributed to the said transfer of oil cokes business from the
parent, Sumitomo Corporation. The net
profit was posted at Yen 154 million, compared with Yen 6 million net profit a
year ago.
For the current
term ending Mar 2008 the net profit is projected at Yen 160 million, on an 11%
rise in turnover, to Yen 21,000 million.
The financial situation is considered
FAIR and good for ORDINARY business engagements. Max credit limit Is estimated at
Yen 150 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1996
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 16,000 shares
Issued: 9,960 shares
Sum: Yen 498 million
Major shareholders (%): Sumitomo Corporation*(100)
* One of leading general trading houses, Tokyo, founded 1919, listed
Tokyo, Osaka,
Nagoya S/E’s, capital Yen 219,279 million,
turnover Yen10,528,277 million, recurring profit Yen 331,929 million, net
profit Yen 211,004 million, total assets Yen 8,430,477 million, net worth Yen
1,473,128 million, employees 61,490, pres Susumu Katoh
Consolidated
Financials are as attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports, exports and wholesales oil cokes, refractory materials, casting materials,
fuels, other (--100%).
Clients
[Mfrs, steel
mills] Sumitomo Metal Ind, SCOA, Nippon Steel, JFE Steel, Mitsubishi Materials,
Kyushu Refractories, other. No. of
accounts 1,000 Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers]
Imports from China, Hungary, Vietnam, Brazil, Australia, USA, India, Spain,
Taiwan, Russia, Korea, Belgium, other.
Also supplied from
Mitsui Mining, Sumitomo Corp, Sumitomo Metal Ind, etc.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
SMBC (Tokyo)
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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21,000 |
19,000 |
3,300 |
2,000 |
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Recur. Profit |
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Net Profit |
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160 |
154 |
6 |
33 |
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Total Assets |
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5,919 |
4,081 |
741 |
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Current Assets |
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5,411 |
3,595 |
724 |
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Current Liabs |
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5,191 |
3,521 |
383 |
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Net Worth |
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725 |
553 |
353 |
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Capital, Paid-Up |
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498 |
498 |
200 |
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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 |
10.53 |
475.76 |
65.00 |
17.65 |
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Current Ratio |
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104.24 |
102.10 |
189.03 |
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N.Worth Ratio |
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12.25 |
13.55 |
47.64 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.76 |
0.81 |
0.18 |
1.65 |
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Return On Equity |
.. |
21.24 |
1.08 |
9.35 |
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Notes: Forecast (or estimated) figures for the 31/03/2008 fiscal term.
SUPPLEMNTS
CONSOLIDATED FINANCIALS OF THE PARENT, SUMITOMO CORPORATION
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FINANCES: (Consolidated in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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10,528,300 |
10,336,265 |
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Cost of Sales |
9,670,600 |
9,629,618 |
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GROSS PROFIT |
857,700 |
706,647 |
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Selling & Adm Costs |
618,000 |
530,514 |
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OPERATING PROFIT |
239,700 |
176,133 |
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Non-Operating P/L |
92,200 |
71,674 |
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RECURRING PROFIT |
331,900 |
247,807 |
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NET PROFIT |
211,000 |
160,237 |
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BALANCE SHEET |
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Cash |
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436,814 |
522,000 |
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Receivables |
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1,722,118 |
1,994,091 |
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Inventory |
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757,473 |
705,257 |
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Securities, Marketable |
17,304 |
22,087 |
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Other Current Assets |
2,224,041 |
400,905 |
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TOTAL CURRENT ASSETS |
5,157,750 |
3,644,340 |
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Property & Equipment |
864,691 |
819,503 |
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Intangibles |
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255,526 |
259,264 |
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Investments, Other Fixed Assets |
2,152,510 |
1,988,787 |
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TOTAL ASSETS |
8,430,477 |
6,711,894 |
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Payables |
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1,103,839 |
1,193,912 |
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Short-Term Bank Loans |
461,931 |
968,112 |
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Other Current Liabs |
2,281,633 |
460,490 |
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TOTAL CURRENT LIABS |
3,847,403 |
2,622,514 |
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Debentures |
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Long-Term Bank Loans |
2,764,352 |
2,447,170 |
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Reserve for Retirement Allw |
9,835 |
13,180 |
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Other Debts |
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239,507 |
230,364 |
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TOTAL LIABILITIES |
6,861,097 |
5,313,228 |
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MINORITY INTERESTS |
96,252 |
94,691 |
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Common stock |
219,279 |
219,279 |
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Additional paid-in capital |
279,711 |
279,470 |
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Retained earnings |
772,855 |
596,913 |
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Evaluation p/l on
investments/securities |
262,292 |
251,093 |
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Others |
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(40,002) |
(37,326) |
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Treasury stock, at cost |
(21,007) |
(5,454) |
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TOTAL S/HOLDERS` EQUITY |
1,473,128 |
1,303,975 |
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TOTAL EQUITIES |
8,430,477 |
6,711,894 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash Flows from Operating Activities |
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191,235 |
-62,752 |
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Cash Flows from Investment
Activities |
-453,120 |
-141,975 |
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Cash Flows from Financing Activities |
176,106 |
262,145 |
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Cash, Bank Deposits at the Term End |
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436,814 |
522,000 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net Worth (S/Holders' Equity) |
1,473,128 |
1,303,975 |
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Current Ratio (%) |
134.06 |
138.96 |
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Net Worth Ratio (%) |
17.47 |
19.43 |
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Recurring Profit Ratio (%) |
3.15 |
2.40 |
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Net Profit Ratio (%) |
2.00 |
1.55 |
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Return On Equity (%) |
14.32 |
12.29 |
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%)