MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL METAL CORPORATION |
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Registered Office : |
1-7-4 Iwasaki-Nishi Ichihara City Chiba-Pref
290-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2008 |
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Date of Incorporation : |
Feb 1993 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export of iron/steel coils &
sheets |
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 27.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
NAME
UNIVERSAL METAL CORPORATION
REGD NAME
KK Universal Metal Corporation
MAIN OFFICE
1-7-4 Iwasaki-Nishi Ichihara City Chiba-Pref 290-0046 JAPAN
Tel: 0436-20-6661
Fax: 0436-20-6663
URL: http://www.universalmetal.jp/
E-Mail : umc@universalmetal.jp
ACTIVITIES
Export of iron/steel coils & sheets
BRANCHES
Nil
WAREHOUSE
At the caption address
Two storied building of total
4,020m2 land space, equipped with:
Crane: 10ton x 2; 2 ton x 2; 4.8 ton x 1;
Forklift: 12 ton x & 4.5 ton x 1;
Shearing Line: One line
OFFICER(S)
Hasib UR Rehman, ch
KAZUYA MASUMOTO, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,459 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 188 M
STARTED 1993 EMPLOYES 17
COMMENT
EXPORTER OF IRON/STEEL COILS & SHEETS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 27.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTs
The subject company was established by Hasib UR Rehman, a Pakistani resident, in order to make most of his experience in the subject line of business. Specializes in exporting iron/steel coils & sheets to Asian countries. Originally started in Yokohama and moved to the caption address in 1997, where the firm built the new warehouse in Aug 2004 and set up the shearing line from coils into sheet. The same year, obtained a custom bond warehouse license to be independent in-house customs clearance facilities. Coils and sheets are exported to Pakistan, Bangladesh, Philippines, Thailand, Vietnam, China, other.
FINANCIAL INFORMATION
Financial are only partially disclosed.
The sales volume for Jan/2007 fiscal term amounted to Yen 1,459 million, a 32% sharp rise from Yen 1,104 million in the previous term. Exports were robust. The hike in materials prices plus weaker Yen contributed, too. The net profit was posted at Yen 41 million, including some extraordinary profits. This compares with Yen 3 million net profits a year ago.
For the term ended Jan 2008 the net profit is estimated posted at Yen 25 million, on a 10% rise in turnover, to Yen 1,600 million. Exports continued steady & rising. Weaker Yen also should have helped raise sales in Yen terms.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 27.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1993
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued: 400
shares
Sum: Yen
20 million
Major shareholders (%): Hasib UR Rehman (95), I Rehman (5)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Exports iron & steel coils & sheets of: hot
roll, cold roll, galvanized, galvanealed, galvalume, tin plate, tin-free steel,
color coils & sheets; shearing processing of color & GI sheets, others
(--100%).
Clients
[Mfrs, wholesalers] Exports to Pakistan, Bangladesh,
Philippines, Thailand, Vietnam, China, other.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Supplied
from domestic iron/steel mfrs, steel traders, other.
Payment record
Regular
Location
Business
area in Ichihara City, Chiba-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
National Bank of Pakistan (Tokyo)
Chiba Bank (Yawata)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual
Sales |
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1,600 |
1,459 |
1,104 |
11,445 |
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Recur.
Profit |
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Net
Profit |
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25 |
41 |
3 |
21 |
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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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188 |
147 |
144 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.66 |
32.16 |
-90.35 |
912.83 |
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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 |
1.56 |
2.81 |
0.27 |
0.18 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/01/2008 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%)