MIRA
INFORM REPORT
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Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIPPON HITEC CO LTD |
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Registered Office : |
Daiichi Tani Bldg 6F, 1-18-6 Kanda-Sudacho Chiyodaku Tokyo 101-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
November 1983 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Synthetic Resin Materials, Plastic
Films, Other 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 11.4 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
NIPPON HITEC CO
LTD
REGD NAME: Nihon Hitec KK
MAIN OFFICE: Daiichi Tani Bldg 6F, 1-18-6 Kanda-Sudacho
Chiyodaku Tokyo 101-0041 JAPAN
Tel:
03-3255-5222 Fax: 03-3255-5225
URL: Nil
ACTIVITIES
Import, wholesale of synthetic resin materials, plastic
films, other products
BRANCHES
Nil
OFFICER(S)
SHUICHI SUZUKI, PRES
Kiyoko Suzuki, dir
Yoshihiko Suzuki, dir
Hitomi Suzuki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 625 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 91 M
STARTED 1983 EMPLOYES 7
COMMENT
TRADING
HOUSE SPECIALIZING IN PLASTIC MATERIALS & PRODUCTS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS:
US$160,000 / O/A 60 DAYS.
MAX CREDIT LIMIT
YEN 11.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The
subject company was established by Shuichi Suzuki in order to make most of his
experience in the subject line of business.
This is a family-based trading firm, owned by the Suzuki Family,
specializing in importing and wholesaling synthetic resin materials and plastic
products, coming from Thailand. Clients
are plastic products mfrs, specialty traders, others, nationwide.
FINANCIAL INFORMATION
The
subject does not release its full financials (as is usually the case with
family-operated firms) except the following partial figures.
The
sales volume for Oct/2007 fiscal term amounted to Yen 625 million, a 19% hike from
Yen 524 million in the previous term.
The higher materials prices pushed the sales sharply upwards. The net profit was posted at 7 million, up
from Yen 2 million a year ago.
For
the current term ending Oct 2008 the net profit is projected at Yen 7 million,
on a 4$ rise in turnover, to Yen 650 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 11.4 million, on 30 days normal terms. The proposed amount for 60 days is
considered within the firm’s financial capabilities.
REGISTRATION
Date
Registered: Nov 1983
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued:
400 shares
Sum: Yen 20 million
Major shareholders (%)
Shuichi
Suzuki (80), Yoshihiko Suzuki (5)
No. of
shareholders: 12
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales synthetic resin materials (20%), plastic films, bags, and related other products (--70%),
synthetic resin materials (20%), electronic parts & components, others
(--10%).
Imports from Thailand, other.
Clients
[Mfrs,
wholesalers] Musashino Resin, Sankyo Co, KF Film, Sanyo Electric,
Kawataki Corp, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs,
wholesalers] Inabata & Co, Aisin Seiki, Nipro, Hitachi Chemical Filtec, Shoko Tsusho, Hitachi Chemical Filtec,
other.
Also imports from Thai Griptich,
other from Thailand.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC (Shinjuku-Nishiguchi)
MUFG (Kanda-Ekimae)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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650 |
625 |
524 |
545 |
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Recur.
Profit |
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Net
Profit |
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7 |
7 |
2 |
7 |
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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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91 |
84 |
82 |
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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 |
4.00 |
19.27 |
-3.85 |
-19.97 |
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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 |
1.08 |
1.12 |
0.38 |
1.28 |
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Notes:
Financial statement not disclosed only except the above partial figures.
Forecast
(or estimated) figures for 31/10/2008 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.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
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%)