MIRA
INFORM REPORT
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Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TASCO CORPORATION |
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Registered Office : |
Roppongi Banrex Bldg 401, 3-3-29 Roppongi Minatoku Tokyo 106-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
June, 1982 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export of Boilers, Gas
Turbines |
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 3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name of the company
TASCO CORPORATION
REGD NAME: Tasco KK
MAIN OFFICE
Roppongi Banrex Bldg 401, 3-3-29 Roppongi Minatoku Tokyo 106-0032 JAPAN
Tel: 03-3588-1923 Fax:
03-3588-1683
URL
E-Mail address
ACTIVITIES
Import, export of boilers, gas turbines
BRANCHES
Nil
OFFICER(S)
STEPHEN M TAKEI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 200 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 73 M
STARTED 1982 EMPLOYES 5
COMMENT
TRADING FIRM SPECIALIZING IN BOILERS AND GAS TURBINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Stephen M Takei in order to make most of his
experience and networks in USA. This is
a trading firm specializing in import and wholesale of boilers, gas turbines,
other related products. Products are
imported from UK, USA, other as acting as import agent for the firms in these
areas (See OPERATION). Clients are in
the fields of heavy machinery mfrs and heavy electric machinery mfrs
nationwide.
FINANCIAL INFORMATION
Financials
are only partially disclosed and in rounded-off numbers.
The
sales volume for Jan/2007 fiscal term amounted to Yen 200 million, a 3% up from
Yen 195 million in the previous term.
Imports of gas turbines rose for heavy machinery mfrs. The net profit remained similar at Yen 2
million.
For
the current term ending Jan 2008 the net profit is projected at Yen 3 million,
on a 3% rise in turnover, to Yen 210 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 3 million, on 30 days normal terms.
REGISTRATION
Date Registered:Jun 1982
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued: 400
shares
Sum: Yen
20 million
Major shareholders (%)
Yoshiyuki Takei (60), Masako
Takei (20)
No. of shareholders
5
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales boilers, gas turbines,
other related products (--100%).
Handling products:
Boilers (fire tube), magnesium
wheel for motorcycles & automobiles, gas turbine compressor cleaner, diesel
engine/gas engines, oil free compressor for PET market, oil free &
lubricated compressor for oil/gas project, de-scaling solvent for gas &
casted rolls, demisters, coalescers, flame arresters, filters, cooling towers,
electro-mechanical systems for hydro power plants, other related products
(--100%).
Import
agent for: Cochran Boilers Ltd, Dymag Racing UK, Perkins Engines Co
Ltd, Sheffield Forgemasters Rolls Ltd, Knit Mesh Ltd, Uttar Pradesh Steels
(--UK), FP Turbomachinery BV (Netherlands), Hamworthy Gardener Denver Belllis
& Morcon Ltd, Rydlyme (APEX), SPX Cooling Technology (--USA), Heinzmann
GmbH & Co Ltd (Germany), Intralink Techno Sdn Bhd (Malaysia), Andritz VA
TECH Hydro (Austria), other.
Clients
[Heavy machinery mfrs,
wholesalers] Mitsubishi Heavy Ind, Mitsubishi Electric Corp, Hitachi Ltd, JDC
Corp, Itochu Corp, Mitsui & Co, Sumitomo Corp, Chiyoda Corp, Marubeni Corp,
Rolls-Royce, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from UK, USA, other as listed
above.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Roppongi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual Sales |
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210 |
200 |
195 |
200 |
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Recur. Profit |
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Net Profit |
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3 |
2 |
2 |
3 |
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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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73 |
71 |
69 |
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Capital, Paid-Up |
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20 |
20 |
20 |
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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 |
5.00 |
2.56 |
-2.50 |
-13.04 |
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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 |
1.43 |
1.00 |
1.03 |
1.50 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2008 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%)