MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEIYO BOEKI SHOKAI |
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Registered Office : |
Zeniya Daiichi Bldg 2F, 1-6-19 Azuchimachi Chuoku Osaka 541-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
1969 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, Export, Wholesale of Textile Machinery, Cotton Yarns,
Fabrics, Used Cars |
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 25 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
MEIYO BOEKI SHOKAI
(SOLE
PROPRIETORSHIP)
REGD NAME: Meiyo Boeki Shokai (Sole proprietorship, not
registered)
MAIN OFFICE: Zeniya Daiichi Bldg 2F, 1-6-19 Azuchimachi
Chuoku Osaka 541-0052 JAPAN
Tel:
06-6264-0190 Fax: 06-6264-0147
URL: N/A
ACTIVITIES
Import, export, wholesale of textile machinery, cotton
yarns, fabrics, used cars
BRANCHES
Nil
OFFICER(S)
BADHELIA YUSUF, PROPRIETOR
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,580 M
PAYMENTS REGULAR CAPITAL - - - M
TREND SLOW WORTH Yen 280 M
STARTED 1969 EMPLOYES 6
COMMENT
TRADING
FIRM SPECIALIZING IN TEXTILES.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS
MAX CREDIT LIMIT
YEN 25 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject firm is a sole proprietorship founded by Badhelia Yusuf, a Pakistani
resident businessman, in order to make most of his experience in the subject line
of business by utilizing his wide networks in Pakistan and Japan. A trading firm for import, export and
wholesale of textile weaving machines centrally, cotton yarns, fabrics, and
related goods. The subject also exports
used motor cars & parts to Pakistan, India, China, other S/E Asian
countries. Imports are from India,
Pakistan, other. Domestic clients
include general trading houses, textile makers, etc.
FINANCIAL INFORMATION
Being
a sole proprietorship, financials are disclosed only partially.
The
sales volume for Dec/2007 fiscal term amounted to Yen 21,580 million, a 34%
drop from Yen 2,390 million in the previous term. Textiles were hardly hit by severe competition on prices. Exports of cars die not rise as
expected. The net profit was posted at
Yen 20 million, down from Yen 30 million a year ago.
For
the current term ending Dec 2008 the net profit is projected at Yen 20 million,
on an 8% rise in turnover, to Yen 1,700 million.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 25 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Not registered
(Founded 1969)
Legal
Status: Sole
Proprietorship
Net
Worth: Yen 230 million
This
is a trading firm wholly owned and operated by Badhelia Yusuf, on his
account. The net worth is estimated at
Yen 280 million, which derived from his savings.
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities:
Imports, exports and wholesales textile weaving machines/equipment, their parts & components (70%), cotton
yarns (10%), fabrics (10%); exports used cars & parts, others (--10%).
Clients
[Apparel makers, wholesalers] Kanebo Ltd,
Teijin Ltd, Sojitz Corp, Toyota Tsusho Corp,
other. Exports to India, China,
Pakistan, Nepal, Arab states, USA, other.
No. of accounts: 80
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs,
wholesalers] Tsudakoma Corp, Teijin Ltd, Kanebo Ltd, Toyota Tsusho Corp, Sojitz
Corp, other. Imports from Pakistan,
India, China, etc.
Payment record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References
Hong Kong Shanghai Banking (Osaka)
Mizuho Bank (Semba)
Relations: Money deposits &
transfer only
FINANCES (In million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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1,700 |
1,580 |
2,390 |
2,070 |
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Recur.
Profit |
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Net
Profit |
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20 |
20 |
30 |
15 |
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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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280 |
260 |
230 |
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Capital,
Paid-Up |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.59 |
-33.89 |
15.46 |
3.50 |
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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 |
1.18 |
1.27 |
1.26 |
0.72 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2008 fiscal
term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.30 |
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UK Pound |
1 |
Rs.86.13 |
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Euro |
1 |
Rs.68.72 |
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%)