MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SQ CORPORATION |
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Registered Office : |
Shin-Osaka DTK Bldg 6F, Nishinakajima Yodogawaku Osaka 532-0011 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
October 1977 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Semiconductors and Parts |
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 71.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
SQ CORPORATION
REGD NAME: KK S. Q Corporation
MAIN OFFICE: Shin-Osaka DTK Bldg
6F, Nishinakajima Yodogawaku Osaka 532-0011 JAPAN
Tel:
06-6305-1688 Fax: 06-6308-7148
URL: http://www.sqcorp.co.jp
E-Mail address:info@sqcorp.co.jp
ACTIVITIES
Import, export, wholesale of semiconductors & parts
BRANCHES
Settsu (Osaka)
(Distribution center)
OVERSEAS
SQ Corporation (S) Pte Ltd (Singapore) (subsidiary)
OFFICERS
Konosuke Uenishi, ch
HAJIME UENISHI, PRES
Hiroshi Imada, dir
Masaaki Horiyama, dir
Akihiro Marumiya, dir
Takako Uenishi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,806 M
PAYMENTS REGULAR CAPITAL Yen 80 M
TREND STEADY WORTH Yen 182 M
STARTED 1977 EMPLOYES 19
COMMENT
TRADING
FIRM SPECIALIZING IN SEMICONDUCTORS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 71.9 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established by Konosuke Uenishi, now ch, in order to make most of his experience in the subject line of business. Hajime is his son, who took the pres office in Jun 2006. This is a family-based trading firm specializing in import, export and wholesale of semiconductors and associated products. Products are mostly supplied from Matsushita Electric Ind and group firms for exports. In 1984, established office in Singapore, SQ Corporation (S) Pte Ltd.
FINANCIAL INFORMATION
Full financials are reported from Apr/2007 fiscal term.
The sales volume for Apr/2007 fiscal term amounted to Yen 6,806 million, a 58% sharp rise from Yen 4,295 million in the previous term. Exports increased to Europe and Asia. Handling of Matsushita Electric Ind goods rose including warehousing & export packaging. Weaker Yen also assisted. The recurring profit was posted at Yen 105 million and the net profit at Yen 8 million, compared with Yen 15 million net profit a year ago.
For the term that ended Apr 2008 the recurring profit was projected t Yen 105 million and the net profit at Yen 10 million, respectively, on a 2% rise in turnover, to Yen 6,950 million. .
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 71.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1977
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 160,000 shares
Sum: Yen 80 million
Major shareholders (%)
Konosuke Uenishi (50), Hajime Uenishi (35), Hiroshi Imada (6),
Ohye Sangyo (1)
No. of shareholders: 8
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports, imports and wholesales semiconductors and associated products (--100%).
(Handling items): semiconductors, condensers, variable/solid resistors, switches, various chips, measuring instruments, metal molds; grease, oil, adhesives, vibration absorbent, drying agents, other.
Clients
[Electronics mfrs, wholesalers] Matsushita Electric Ind, Matsushita Electric (Taiwan), Matsushita Electric (Xiamen), Matsushita Electric (Singapore), Matsushita Audio & Video (Germany), Panasonic (Mexico), other.
No. of accounts
500
Domestic areas of activities
Centered in greater-Osaka.
Suppliers
[Electronics mfrs] Panasonic International Logistics, Matsushita Electric Ind, Panasonic Electronic Device, Toshin Kogyo, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Resona Bank (Umeda-Kitaguchi)
Ehime Bank (Osaka)
Relations: Satisfactory.
FINANCES: (In Million Yen)
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Terms Ending: |
30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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6,950 |
6,806 |
4,295 |
4,218 |
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Recur.
Profit |
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105 |
102 |
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Net
Profit |
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10 |
8 |
15 |
14 |
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Total
Assets |
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1,388 |
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Current
Assets |
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1,146 |
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Current
Liabs |
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864 |
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Net
Worth |
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182 |
174 |
159 |
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Capital,
Paid-Up |
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80 |
80 |
80 |
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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 |
2.12 |
58.46 |
1.83 |
22.40 |
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Current Ratio |
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.. |
132.64 |
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.. |
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N.Worth Ratio |
.. |
13.11 |
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.. |
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R.Profit/Sales |
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1.51 |
1.50 |
.. |
.. |
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N.Profit/Sales |
0.14 |
0.12 |
0.35 |
0.33 |
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Return On Equity |
.. |
4.40 |
8.62 |
8.81 |
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Note: Financials in digest are disclosed from Apr/2007
fiscal term only.
Forecast (or estimated) for the 30/04/2008 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%)