MIRA
INFORM REPORT
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Report Date : |
29.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOUTH INDIA TRADING HOUSE INC |
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Registered Office : |
Itohei Sakurabashi Bldg 4F, 3-3-3 Hatchobori Chuoku Tokyo 104-0032 |
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Country : |
Japan |
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Financials (as on) : |
30/04/2007 |
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Date of Incorporation : |
May 1997 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, wholesale of tombstones |
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 19.2 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name
SOUTH INDIA TRADING HOUSE INC
REGD NAME
YK Minami Indo Yoko
MAIN OFFICE
Itohei Sakurabashi Bldg 4F, 3-3-3 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel: 03-5566-0777
Fax: 03-5566-9777
E-Mail address: si@indoyoko.com
ACTIVITIES
Import, wholesale of tombstones
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
TOSHIO MAENO, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,070 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 105 M
STARTED 1997 EMPLOYES 8
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN TOMBSTONES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 19.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally by Motokiyo Konishi and was transferred to Toshio Maeno. This is a trading firm specializing in tombstones: raw materials, half-finished stones, and finished products. Products are imported from India and China centrally, where the subject has subcontracted factories for processing the stones. Clients are tombstone processors centrally in the northern part of Japan.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The
sales volume for Apr/2007 fiscal term amounted to Yen 1,070 million, a 13% up
from Yen 950 million in the previous term.
Stone prices increased. The net
profit was posted at Yen 11 million, compared with Yen 10 million a year ago.
For the current term ending Apr
2008 the net profit is projected at Yen 11 million, on a 3% rise in turnover,
to Yen 1,100 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is
estimated at Yen 19.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: May
1997
Legal Status: Private Limited Company (Yugen
Gaisha)
Regd Capital: Yen
10 million
Major shareholders (%)
Toshio Maeno (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and
wholesales tombstones, raw materials, half-finished & finished materials
(100%).
Products are imported from India & China centrally from
subcontracted stone processors.
Clients
[Stone processors] Watanabe Sekizai, Karasawa Sekizaiten,
Uehara Daini Sekizai, other.
No. of accounts
100
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs] Imports from India &
China.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC (Kyobashi)
Resona Bank (Tokyo-Chuo)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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1,100 |
1,070 |
950 |
766 |
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Recur.
Profit |
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Net
Profit |
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11 |
11 |
10 |
5 |
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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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105 |
94 |
84 |
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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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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.80 |
12.63 |
24.02 |
-7.93 |
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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 |
1.00 |
1.03 |
1.05 |
0.65 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2008 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%)