MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SASAYAMA CO LTD |
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Registered Office : |
Kobe Trade Center Bldg 6F, 5-1-14 Hamabedori Chuoku Kobe 651-0083 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
June 1985 |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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Line of Business : |
Import, Wholesale of Cow Hide, Tanned
Leather, Finished Leather (Import Agent for Prime Tanning USA) |
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 6.9 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SASAYAMA CO LTD (Not SASAYA)
REGD NAME: YK Sasayama
MAIN OFFICE: Kobe Trade Center
Bldg 6F, 5-1-14 Hamabedori Chuoku Kobe 651-0083 JAPAN
Tel:
078-251-6888 Fax: 078-291-0405
* The correct address is as given above. The given address and phone/Fax numbers belong to some other company. This is confirmed by the company.
URL: N/A
ACTIVITIES
Import, wholesale of cow hide, tanned leather, finished
leather
(Import Agent for Prime Tanning USA)
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
ARITSUNE SASAYAMA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 375 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 49 M
STARTED 1985 EMPLOYES 5
COMMEN
IMPORTER AND WHOLESALER SPECIALIZING IN COW HIDE &
TANNED LEATHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$312,500
/ O/A 60 DAYS AFTER SHIPMENT DATE.
MAX CREDIT LIMIT
YEN 6.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1971 by Aritsune Sasayama in order to make most of his experience in the subject line of business. Incorporated in 1985. This is a family-based trading firm specializing in import and wholesale of cow hide, tanned leather, tanning chemicals, other. Sole marketing agent for Prime Tanning USA. Also handles as a sideline synthetic leather, dyestuffs, etc. Clients are leather mfg firms, shoemakers, other, centering in greater-Osaka region.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 375 million, a 103% steep hike from Yen 185 million in the previous term. Client networks expanded sharply, the firm says. The net profit was posted at Yen 15 million, up from Yen 1 million a year ago.
For the term ended Mar 2008 the net profit was projected & believed posted at Yen 15 million, on a 4% rise in turnover, to 390 million. The firm did not deny the figure.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. The proposed amount, however, is considered TOO HIGH from the recent financial status. Max credit limit is estimated at Yen 6.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1985
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 3 million
Major shareholders (%)
Aritsune Sasayama, Kazuko Sasayama, Mitsuhiro Sasayama (break down unavailable)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales cow hide, tanned leather, finished leather, tanning agents, dyestuffs, synthetic robber, car leather seats, other (--100%)
Sole import & marketing agent in Japan for Prime Tanning USA, other.
Clients
[Leather mfrs, shoemakers] Simon Corp, Daiki Leather, Kanetoshi Seikakusho,
Masahiko Kasei, Ohya Seikakusho, Deguchi Kagaku, Tatsuno Kasei Kogyo, Fukuno Kagaku Yakuhin, Sansei Kagaku, other.
No. of accounts
300
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Prime Tanning USA (sole import agent in Japan), National Beef, East Hide, Cinochem Japan, Cisecam, Tanac, other.
Payment record
Regular
Location
Business area in Kobe. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (Sannomiya)
Mizuho Bank (Kobe)
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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390 |
375 |
185 |
166 |
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Recur.
Profit |
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Net
Profit |
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15 |
15 |
1 |
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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49 |
34 |
33 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
3 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.00 |
102.70 |
11.45 |
-5.14 |
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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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.. |
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N.Profit/Sales |
3.85 |
4.00 |
0.54 |
4.22 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)