MIRA
INFORM REPORT
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Report Date : |
25.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREENPACKS CORPORATION |
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Registered Office : |
Sunhayato Bldg Annex 3F, 3-40-10 Minami-Otsuka Toshimaku Tokyo
170-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
November, 2005 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of plastic films
& packaging 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 24.9 Million |
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Status : |
New & Small Company |
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Payment Behaviour : |
Regular |
name of the company
GREENPACKS CORPORATION
REGD NAME: KK Green Packs
MAIN OFFICE
Sunhayato Bldg Annex 3F, 3-40-10 Minami-Otsuka Toshimaku Tokyo 170-0005
JAPAN
Tel: 03-5396-8851 Fax:
03-5396-8852
URL
http://www.greenpacks-corp.com/
E-Mail address
ACTIVITIES
Import, wholesale of plastic films & packaging materials
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
KUNITAKE KOBAYASHI, PRES
Kunihiro Kobayashi, dir
Keigo Shima, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES Yen 1,098 M
PAYMENTS REGULAR CAPITAL Yen 91 M
TREND UNDETD WORTH Yen 92 M
STARTED 2005 EMPLOYES 9
COMMENT
TRADING HOUSE FOR IMPORT & WHOLESALE OF PACKAGING
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 24.9 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was
established by Kunitake Kobayashi in order to make effective use of his 37
years’ business experience in plastic products industry, starting with
Mitsubishi Chemical Corporation (17 years), and after working with two firms,
with Mitsubishi Shoji Plastics Corp (where he controlled import/wholesale of PE
film products) immediately prior to the setting-up of the new company. Kunihiro is his son, who had served with
Sumitomo Corporation until the new firm setting-up. This is a trading firm specializing in import and wholesale of PE
films, packages, bags, synthetic resin raw materials, medical supplies,
other. Also offers technical advice on
plastic mfg equipment, plastic products, other. Actual business operations started Jan 2006. Goods are mostly imported from China, other,
in addition to domestic suppliers.
FINANCIAL INFORMATION:
The
sales volume for the initial accounting term ended Dec 2006 amounted to Yen
1,098 million, with the recurring profit posting at Yen 5 million and the net
profit posting at Yen 4 million, respectively.
PE films & bags were in greater demand.
For the term just ended Dec 2007
the net profit is believed posted at Yen 10 million, on a 36% rise in turnover,
to Yen 1,500 million. PE disposable
bags standardized by local governments from ecological reasons expanded
sales.
The financials situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 24.9
million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 2005
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 7,000
shares
Issued: 1,830
shares
Sum: Yen
91.5 million
Major shareholders (%)
Kunitake Kobayashi (50), Kunihiro Kobayashi (30), Keigo
Shima (20)
No. of shareholders
3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Trading house for import and wholesale of
(--100%):
Handling Items:
PE (Polyethylene) films: shopping film bags, garbage bags,
other film bags;
Synthetic resin raw materials: HDPE, LDPE, LLDPE, PP, OPP, PS, OPS, EVA, other;
Packaging materials: stretch films, disposable plastic chopsticks, non-woven bags, PE/PP bands, ruminate films, PET sheet, PET labels, reclosable poly bags, plastic trays, other;
Sanitary goods & supplies: films for diaper, other sanitary goods, PE gloves, sanitary films, embossed films & sheets, other;
Medical equipment & supplies;
Technical consultancy: Plastic goods mfg equipment (extruding machines, molding machines, package mfg equipment, printing machines, packaging equipment, etc), bio-gradable polymers, other.
Clients
[Mfrs, wholesalers] Superbag (10%), Takami Hoso Yohin (10%), Nakagawa Seitai Hoso (10%), Ishimoto Hoso (10%), other. (Hoso means packaging)
No. of accounts: 100
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Mitsubishi
Chemical, Mitsubishi Shoji Plastics Corp, J-Film Corp, other. Also imports from China, etc.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Shinagawa)
Resona Bank (Ikebukuro)
Relations: Money deposits & transfer only
FINANCES: (In Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
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Annual Sales |
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1,500 |
1,098 |
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Recur. Profit |
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5 |
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Net Profit |
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10 |
4 |
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Total Assets |
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438 |
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Current Assets |
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437 |
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Current Liabs |
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315 |
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Net Worth |
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92 |
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Capital, Paid-Up |
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91 |
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Div.P.Share(¥) |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
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S.Growth Rate |
36.61 |
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Current Ratio |
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138.73 |
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N.Worth Ratio |
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21.00 |
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R.Profit/Sales |
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0.46 |
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N.Profit/Sales |
0.67 |
0.36 |
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Return On Equity |
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4.35 |
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Notes: The 31/12/2006 fiscal term is the initial accounting
term from the inception.
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%)