MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AFFIVAL KK |
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Registered Office : |
Tamaki Bldg 7F, 2-15-17 Shimbashi Minatoku Tokyo 105-0004 |
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Country : |
Japan |
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Date of Incorporation : |
May 1987 |
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Com. Reg. No.: |
(Tokyo) 0104-01-001910 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Cored Wires, Wire Feeding Systems for
Steel Makers |
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 8.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & addres
AFFIVAL KK
REGD NAME: Affival KK
MAIN OFFICE: Tamaki Bldg 7F,
2-15-17 Shimbashi Minatoku Tokyo 105-0004 JAPAN
Tel:
03-3508-8682 Fax: 03-3508-8683
URL: Http://www.affivalinc.com
(French parent)
E-Mail address: info@affival.com; taida@aurora.dti.ne.jp
ACTIVITIES
Import, wholesale of cored wires, wire feeding systems for
steel makers
BRANCHES
Nil
OFFICER(S)
YOH TAIDA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 500 M*
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND UNDETD WORTH Yen 126 M
STARTED 1987 EMPLOYES 5
*..
Estimated figures only as no financials are released.
COMMENT
IMPORTER SPECIALIZING IN CORED WIRES AND PHERIPHERAL EQUIPMENT, OWNED BY AFFIVAL GROUP, FRANCE. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
ESTIMATED AT YEN 8.7 MILLION, 30 DAYS NORMAL TERMS. WE RECOMMEND SECURED TERMS ON NEW TRANSACTIONS.
HIGHLIGHTS
The subject company was
established as the Japan Office by Affival Group, France, for marketing its
products of nonferrous metals and products.
The firm imports industrial cored wires, produced by the Group, for
steel industry. Also handles wire
injection equipment & systems, and associated products. Acts as commission merchant for the French
parent. Clients are major steel mills
nationwide. The firm declined again to
disclose any further information other than stated in this report, saying that
the firm is not allowed to divulge any information relative to the management,
financials and other material data unless with the approval of the French
Headquarters. No other databases or
outside source data are available, either.
One database has the information but is old-dated in Oct 2003. Client names are not disclosed. Most of the information is based on the
Registration Certificate we obtained.
FINANCIAL INFORMATION
The
firm does not disclose financials and the following figures are only our estimates
gathered from the conversation with Y Taida.
The local taxation office has no record of pretax profits reported from
the firm.
The revenues for Mar/2007 fiscal
term are assumed amounted to Yen 500 million, 25% up from Yen 400 million a
year ago. The net profit is assumed to
have been posted at Yen 10 million, but not verified.
For the current term ending Mar
2008 the net profit is estimated to mark time at Yen 10 million, on a 6% rise
in turnover, to Yen 530 million. The
growth is expected from the weaker Yen against foreign currencies lifting sales
amount in Yen terms.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 8.7
million, on 30 days normal terms. We,
however, recommend fully secured terms on new transactions as financials are
not disclosed.
REGISTRATION
Date Registered: May 1987
Regd No: (Tokyo) 0104-01-001910
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,000 shares
Issued: 500 shares
Sum: Yen 25 million
Major shareholders (%)
Affival Group, France (100).
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports (as commission merchant) and wholesales industrial cored wires, alu- minum (plain) wires, wire injection
systems, other related products for steel industry (--100%).
Products are supplied from
Affival Group firms worldwide.
Cored
wires are made of low carbon steel sheath into which the powdered minerals,
metals and ferroalloys are tightly encased, according to the firm.
Cored Wires:
Calcium Bearing, carbon, sulphur, aluminum, iron, lead, bismuth, selenium,
antimony, nitrogen bearing, tellurium, silicon, niobium (columbium), vanadium,
boron, manganese, chromium, molybdenum,
tungsten, yttrium, rare earths, other.
Aluminum (plain) wires: wire
feeding equipment, wire injectors, guide tubes, roller assemblies, automation,
servicing, other.
Clients
[Steel
mills] Nippon Steel, Sumitomo Metal Ind, JFE Steel, other. (Client names not openly mentioned, just responded to our queries)
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
[Mfrs] Imports from Affival Group firms, France, USA, other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
Local Bank (Not disclosed)
Relations: Money deposits & transfers only
FINANCES: (In Million Yen)
NOT MADE AVAILABLE
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%)