MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHINSEI CORPORATION |
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Registered Office : |
Nihombashi Nishiki Bldg 401, 1-3 Nihombashi-Kodenmacho Chuoku
Tokyo 103-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2006 |
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Date of Incorporation : |
October 2001 |
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Legal Form : |
Private Limited Company (Yugen
Gaisha) |
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Line of Business : |
Import, Export of Metal Working
Machinery, Construction Equipment, 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 14 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
SHINSEI CORPORATION
REGD NAME
YK Shinsei Sangyo
MAIN OFFICE
Nihombashi Nishiki Bldg 401, 1-3 Nihombashi-Kodenmacho Chuoku
Tokyo 103-0001JAPAN
Tel : 03-3664-3038
Fax : 03-3664-3038
URL : N/A
ACTIVITIES
Import, export of metal working machinery, construction
equipment, parts
BRANCHES
Nil
OFFICERS
KANEMITSU TERASHIMA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,164 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND UP WORTH Yen 19 M
STARTED 2001 EMPLOYES 4
COMMENT
TRADER FOR IMPORT AND EXPORT OF METAL WORKING MACHINERY,
CONSTRUCTION MACHINERY & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 14 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Kanemitsu Terashima in
order to make most of his experience in foreign trading. A small-sized trading firm, owned by K
Terashima, specializing in export and import of metal processing equipment
& machinery, construction machinery & equipment, their parts and
components. Also handles steel &
iron products. Goods are exported to
India, Pakistan, China, Thailand, Korea, Singapore and other S/E Asian
countries. Imports are centrally from
China.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Oct/2006 fiscal term amounted to Yen 1,164 million, a 47% sharp rise from Yen 790 million in the previous term. Exports were robust into China, India, Korea and other S/E Asian countries. Weaker Yen also assisted to raise sales in Yen terms. The net profit is reported posted at Yen 8 million, up from Yen 5 million a year ago.
For the current term ending Oct 2007 the net profit is
projected at Yen 8 million, on a 3% rise in turnover, to Yen 1,200
million. Exports continue rising.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 14 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Oct
2001
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: Yen
3 million
Major shareholders (%):
Kanemitsu Terashima (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Exports, imports and wholesales metal working machinery & equipment, construction machinery & equipment, their parts & components, steel products, others (--100%).
Exports: (80-90%).
Clients: [Mfrs, wholesalers] Exports to India, Pakistan, Thailand, China, Korea, Singapore, other S/E Asian countries. Also some domestic steel traders.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, steel traders] For exports, supplied from
domestic steel & machinery traders.
Goods are also imported from China.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Iidabashi)
Mizuho Bank (Kobunacho)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/10/2007 |
31/10/2006 |
31/10/2005 |
31/10/2004 |
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Annual
Sales |
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1,200 |
1,164 |
790 |
400 |
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Recur.
Profit |
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Net
Profit |
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8 |
8 |
5 |
2 |
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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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19 |
11 |
9 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
3.09 |
47.34 |
97.50 |
14.29 |
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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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N.Profit/Sales |
0.67 |
0.69 |
0.63 |
0.50 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/10/2007 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%)