MIRA
INFORM REPORT
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Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANTOMI & CO LTD |
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Registered Office : |
Shin-Kobe Bldg, 1-1-1 Sannomiyacho Chuoku Kobe
650-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
Jun 1948 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale of Rubbers, Turbine
Flow Meter, Adhesives, Air Valves. |
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 72.1 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name
SANTOMI & CO
LTD
REGD NAME
KK Santomi Shoten
MAIN OFFICE
Shin-Kobe Bldg, 1-1-1 Sannomiyacho Chuoku Kobe 650-0021 JAPAN
Tel: 078-331-2525
Fax: 078-321-5072
E-Mail address: Osaka@santomi.net, also Tokyo@santomi.net
ACTIVITIES
Import, wholesale of rubbers, turbine flow meter, adhesives,
air valves, other
BRANCHES
Tokyo, Osaka, Kusatsu (Shiga)
OFFICER(S)
Takeshi Kinoshita, ch
KATSUFUMI KINOSHITA, PRES
Mikizo Kinoshita, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,058 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 531 M
STARTED 1948 EMPLOYES 19
COMMENT
IMPORTER
AND WHOLESALER OF CYCLONE TURBINE FLOW METER, OTHER INDUSTRIAL PARTS &
COMPONENTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 72.1 MILLION, 30 DAYS NORMAL
TERMS
HIGHLIGHTS
The subject company was established by Mikizo Kinoshita in order to make most of his experience in the subject line of business. Takeshi is the founder’s son and Katsufumi the grandson, who took the pres office in Mar 2000 after Takeshi, who then promoted to the ch. This is a trading firm, owned by the Kinoshita family, specializing in import and wholesale of rubbers, cyclone turbine flow meter used in the semiconductor industry, from Korea.
Also handles adhesives, air valves, plastic fittings & joints, plastic bended tubes, soil improvement chemicals, other. Clients are major industrial machinery mfrs, chemical firms, etc.
FINANCIAL INFORMATION
The sales volume for Dec/2007
fiscal term amounted to Yen 3,058 million, a 9% down from Yen 3,365 million in
the previous term. Demand slowed. Exports decreased due to the hike in
materials prices. The recurring profit
was posted at Yen 67 million and the net profit at Yen 40 million,
respectively, compared with Yen 96 million recurring profit and Yen 2 million
net profit, respectively, a year ago.
Extraordinary losses in the previous term were gone.
For the current term ending Dec
2008 the net profit was projected at Yen 40 million, on a 1% rise in turnover,
to Yen 3,100.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 72.1
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jun 1948
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued:
200,000 shares
Sum: Yen 10 million
Major shareholders (%)
Takeshi Kinoshita (15), Shinzo Kinoshita (12), Mikiya
Kinoshita (5)
No. of shareholders: 21
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales cyclone turbine flow meters (from
Korea), adhesives (Loctite), plastic fittings & joints, plastic bended
tubes, natural rubber, synthetic rubber, other rubber materials, other
industrial parts & components, soil improvement chemicals, others (--100%).
Clients
[Machinery
mfrs, other mfrs] Mitsubishi Heavy Ind, Dainippon Screen, Bando Chemical,
Mitsuboshi Belt, Nippon Contex, Sumitomo Special Metals, Daiwabo Co, other
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Marubeni Corp, Mitsubishi
Corp, Osaka Commodity Exchange, Zeon Corp, Japan Loctite, Flowell, Kaneka Corp,
Seba Inc (Korea), other. Imports from SEBA Inc, Korea, other.
Payment record
Regular
Location
Business
area in Kobe. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Hyakujushi Bank (Kobe)
Resona Bank (Kobe)
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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3,100 |
3,058 |
3,365 |
2,806 |
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Recur.
Profit |
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67 |
96 |
47 |
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Net
Profit |
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40 |
40 |
2 |
31 |
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Total
Assets |
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1,699 |
1,812 |
1,654 |
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Current
Assets |
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1,440 |
1,545 |
1,387 |
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Current
Liabs |
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1,167 |
1,321 |
1,165 |
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Net
Worth |
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531 |
491 |
488 |
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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 |
1.37 |
-9.12 |
19.92 |
2.30 |
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Current Ratio |
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123.39 |
116.96 |
119.06 |
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N.Worth Ratio |
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31.25 |
27.10 |
29.50 |
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R.Profit/Sales |
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2.19 |
2.85 |
1.67 |
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N.Profit/Sales |
1.29 |
1.31 |
0.06 |
1.10 |
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Return On Equity |
.. |
7.53 |
0.41 |
6.35 |
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Notes:
Forecast (or estimated) figures for 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%)