MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPRING COSMO INTERNATIONAL CORPORATION |
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Registered Office : |
Laurei Bldg 7F, 1-1-10 Toranomon Minatoku Tokyo
105-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
June, 1993 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Paper,
Paper Products |
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 74.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name
SPRING COSMO INTERNATIONAL CORPORATION
REGD NAME
KK Spring Cosmo International
MAIN OFFICE
Laurei Bldg 7F, 1-1-10 Toranomon Minatoku Tokyo 105-0001 JAPAN
Tel: 03-5521-8701 Fax:
03-5521-8702
URL: http://www.springcosmo.com/
E-Mail address:info@springcosmo.com
ACTIVITIES
Import, export, wholesale of paper, paper products
BRANCHES
Nil
OFFICER(S)
FUMITAKA TAKAHASHI, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,100 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 104 M
STARTED 1993 EMPLOYES 8
COMMENT
TRADING FIRM SPECIALIZING IN PAPER &
PAPER PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 74.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Fumitaka Takahashi in order to make most of his experience in the subject line of business. This is a trading firm for import, export and wholesale of paper & paper products. Goods are imported from Korea, Europe, Asia, other and exported to USA, Taiwan, Oceania, Asia, etc. Domestic clients include printing firms.
FINANCIAL INFORMATION
The
sales volume for Mar/2007 fiscal term amounted to Yen 5,100 million, a 4% up
from Yen 4,900 million in the previous term. Exports rose. The net
profit was posted at Yen 10 million, down from Yen 18 million a year ago,
affected by rising costs of materials & operations.
For
the term that ended Mar 2008 the net profit was projected at Yen 10 million, on
a 6% rise in turnover, to Yen 5,400 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max credit limit is estimated at Yen 74.5
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jun
1993
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major
shareholders (%): Fumitaka Takahashi (50), Nakagawa Mfg Co (25), I Fun (25)
No. of
shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales paper & paper products: coated paper, bond paper, machine glazed paper, printing paper, fiberboard, other (--100%).
Clients
[Printers, wholesalers] Nakagawa
Mfg Co, Tosho Printing, Toppan Printing, Shiroki KK, Kokusai Pulp & Paper,
other.
Exports to Oceania (20%),
Taiwan, Asia, USA, other
No. of accounts: 500
Domestic areas of activities:
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Shiroki, Oji
Paper, Kokusai Pulp & Paper, other.Imports from Hansul Paper (Korea),
Europe, Asia, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Omotesando)
SMBC (Aoyama)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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5,400 |
5,100 |
4,900 |
3,200 |
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Recur.
Profit |
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Net
Profit |
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10 |
10 |
18 |
10 |
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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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104 |
94 |
76 |
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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 |
5.88 |
4.08 |
53.13 |
1.59 |
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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 |
0.19 |
0.20 |
0.37 |
0.31 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)