MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
UM CORPORATION |
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Registered Office : |
Umeda UM Bldg, 3-1-2 Nishi-Nakazaki Kitaku Osaka 530-0015 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
February 1960 |
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Com. Reg. No.: |
1299-01-061087 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Manufacturer of Building Materials: Wood, Stone,
Slate, Other |
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 88.1 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
UM CORPORATION
REGD NAME: KK Umehiko
MAIN OFFICE: Umeda UM Bldg, 3-1-2
Nishi-Nakazaki Kitaku Osaka 530-0015 JAPAN
Tel:
06-6377-3500 Fax: 06-6377-3501
* The given
address is its Tokyo Office
URL: http://www.um-corp.co.jp/
E-Mail address:trade@um-corp.co.jp
ACTIVITIES
Import, mfg of building materials: wood, stone, slate, other
BRANCHES
Tokyo
FACTORY(IES)
Ibaraki (Osaka)
OFFICER(S):
JUN’ICHI NINO, PRES
Atsuhiro Matsumoto, dir
Akihiro Ogiya, dir
Tameyuki Nino, dir
Masahiro Fujimoto, dir
Masahiro Ishimoto, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,580 M
PAYMENTS REGULAR CAPITAL Yen 80 M
TREND STEADY WORTH Yen 2,270 M
STARTED 1960 EMPLOYES 106
COMMENT
MFR OF BUILDING & CONSTRUCTION MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 88.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tamenosuke Nino in order to make most of his experience in the subject line of business, and has been succeeded by his descendants. Originally as Umehiko & Co Ltd, changed the English company name to UM Corporation in 1988. Jun’ichi took the pres office in Feb 2004. Specializes in mfg building & construction materials, flooring, tiles, wooden & stone products, other. The office building is owned/built in 1992. In 1977 the Ibaraki Factory was authorized as JIS factory.
Ref your notes: Kazuhiro Umeda is not found in the Registration Certificate or any database and cannot be investigated. We do not hear of any legal suit involving this person.
FINANCIAL INFORMATION
The sales volume for Dec/2007 fiscal term amounted to Yen 2,580 million, a 7% down from Yen 2,772 million in the previous term. Hurt by slumping building business due to the introduction of new standard for buildings. Hence the operations plunged into the red to post Yen 46 million recurring loss and Yen 45 million net losses, respectively, compared with Yen 6 million recurring loss and Yen 2 million net profit, respectively, a year ago..
For the current term ending Dec 2008 the net profit is projected at Yen 10 million, on a 5% rise in turnover, to Yen 2700 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 88.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1960
Regd No: (Osaka) 1299-01-061087
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 640,000 shares
Issued: 160,000 shares
Sum: Yen 80 million
Major shareholders (%)
Employees’ S/Holding Assn (31), Jun’ichi Nino (19), Kunihiko
Matsunaga (19), Yasuhiko Matsunaga (19), Ryuji Ashiba (6)
No. of shareholders: 25
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures and imports building & construction materials: wooden, stone, wall-covering materials, stone products, building coating materials, other (--100%).
Clients
[Mfrs, wholesalers] Asaka Kogyo, Hirata Tiles, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Itochu Chemical Frontier, Kuraray Trading, Daicel Fine Chem,
NIDEC Shibaura, other
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
MUFG (Tnroku)
SMBC (Tenroku)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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2,700 |
2,580 |
2,772 |
3,033 |
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Recur.
Profit |
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10 |
-46 |
-6 |
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Net
Profit |
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10 |
-45 |
2 |
1 |
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Total
Assets |
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4,065 |
4,250 |
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Current
Assets |
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2,796 |
2,996 |
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Current
Liabs |
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596 |
627 |
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Net
Worth |
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2,270 |
2,322 |
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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 |
4.65 |
-6.93 |
-8.61 |
-4.59 |
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Current Ratio |
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.. |
469.13 |
477.83 |
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N.Worth Ratio |
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55.84 |
54.64 |
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R.Profit/Sales |
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0.37 |
-1.78 |
-0.22 |
.. |
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N.Profit/Sales |
0.37 |
-1.74 |
0.07 |
0.03 |
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Return On Equity |
.. |
-1.98 |
0.09 |
.. |
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Notes: Forecast (or estimated) figures for the 31/12/2008
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%)