MIRA
INFORM REPORT
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Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAIYO ENTERPRISE INC |
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Registered Office : |
Koraibashi Kimura Bldg 6F, 2-4-9 Koraibashi Chuoku Osaka 541-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
August 1998 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Injection Molding Machines, Water Treatment Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 13.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
TAIYO ENTERPRISE INC
REGD NAME
KK Taiyo Enterprise
MAIN OFFICE
Koraibashi Kimura Bldg 6F, 2-4-9 Koraibashi Chuoku Osaka 541-0043 JAPAN
Tel : 06-6221-3661
Fax : 06-6221-3666
URL : N/A
Activities
Import, export, wholesale of injection molding machines, water
treatment equipment
BRANCHES
Tokyo
OFFICERS
TAKANOBU HARUKI, PRES
Takako Haruki, dir
Hiromi Satoh, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,845 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 92 M
STARTED 1998 EMPLOYES 5
COMMENT
TRADING HOUSE SPECIALIZING IN EXPORT OF INJECTION MOLDING
MACHINES. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 13.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1968 as
Uomoto Sangyo KK but had been inoperative until 1998 when Takanobu Haruki
reorganized the shell company and reactivated business operations. This is a trading firm specializing in
exporting injection molding equipment centrally. Also handles water treatment equipment, etc. Exports account for 96% of total sales,
mostly through general trading houses.
Exports to China, S/E Asia & Africa, etc. Partially imports from
China, Korea, India, other.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 1,845
million, an 11% down from Yen 2,071 million in the previous term. Exports were steady, but due to competition
exports prices continued under pressure.
Weaker Yen could not compensate the loss in export prices. The recurring price was posted at Yen 21
million and the net profit at Yen 14 million, respectively, compared with Yen
10 million recurring profit and Yen 8 million net profit, respectively, a year
ago.
For the current term ending Dec 2007 the recurring profit is
projected at Yen 21 million and the net profit at Yen 14 million, respectively,
on a 3% rise in turnover, to Yen 1,900 million.
The financial situation is considered maintained FAIR and
should be good for ORDINARY business engagements. Max credit limit is estimated at Yen 13.4 million, on 30 days
normal terms.
REGISTRATION
Date Registered: Aug
1998
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%): Takanobu
Haruki (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Exports, imports and wholesales injection molding
machines (for plastics), water treatment equipment, other industrial machinery,
their parts & components (--100%).
(Export 96%, import 4%).
Clients: [Mfrs, wholesalers] Exports to: Malaysia, Singapore, Taiwan, Korea, Kenya, Tanzania, Uganda, Nigeria, Ethiopia, etc, mostly through Marubeni Corp, Sumitomo Corp, and other trading houses.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Supplied from Yodogawa Steel Works,
Yushiro Chemical Ind, Tanisaka Tekkosho, Shiba Sangyo, Sun Mec Co, Flat
Products, other. Imports from India,
China, Taiwan, etc.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Kansai Urban Bank (H/O)
SMBC (Osaka-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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1,900 |
1,845 |
2,071 |
2,186 |
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Recur.
Profit |
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21 |
21 |
10 |
34 |
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Net
Profit |
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14 |
14 |
8 |
23 |
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Total
Assets |
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945 |
906 |
752 |
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Current
Assets |
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936 |
897 |
741 |
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Current
Liabs |
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644 |
629 |
520 |
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Net Worth |
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92 |
77 |
70 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
2.98 |
-10.91 |
-5.26 |
116.22 |
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Current Ratio |
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.. |
145.34 |
142.61 |
142.50 |
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N.Worth Ratio |
.. |
9.74 |
8.50 |
9.31 |
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R.Profit/Sales |
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1.11 |
1.14 |
0.48 |
1.56 |
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N.Profit/Sales |
0.74 |
0.76 |
0.39 |
1.05 |
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Return On Equity |
.. |
15.22 |
10.39 |
32.86 |
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Notes: Forecast (or estimated) for the 31/12/2007 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%)