MIRA INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
GRAPHAX INTERNATIONAL CORPORATION |
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Registered Office : |
Makuhari Robot FA Center 12F, 1-9-1 Nakase
Mihamaku |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
May 2003 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export of Electrode
Graphite, Steel Products, other |
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 15 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name
GRAPHAX INTERNATIONAL CORPORATION
REGD NAME
KK Graphax
International Corporation
MAIN OFFICE
Makuhari Robot FA
Center 12F, 1-9-1 Nakase Mihamaku
Tel: Fax: 043-213-9556
E-Mail
address: kindaichi@ltd.com
ACTIVITIES
Import,
export of electrode graphite, steel products, other
BRANCHES
Nil
OFFICER(S)
GEN
HIBI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 850 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 25
M
STARTED 2003 EMPLOYES 1
COMMENT
TRADING FIRM
SPECIALIZING IN INDUSTRIAL PRODUCTS, WHOLLY OWNED BY TRANS GLOBAL AGENCY
CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 15
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a trading division separated from Trans Global Agency Corporation, at the caption address (See REGISTRATION). Gen Hibi is concurrently pres at the parent. Management & operations are integrated with the parent. This is a trading firm, virtually a trading division of the parent, specializing in importing and exporting electrode graphite as a main, and steel products, steel scraps, other. The parent, Trans Global Agency, is a sole agent of Carbide Graphite (USA) for importing electrode graphite. Also handles measuring instruments, sensors, other industrial equipment; steel materials & products, steel scraps, other. Clients include major steel mills.
FINANCIAL INFORMATION
The sales volume
for Mar/2008 fiscal term amounted to Yen 850 million, a 13% rise from Yen 750
million in the previous term. This is
attributed to hike in steel & products prices. Exports rose.
The net profit was posted at Yen 6 million, compared with Yen 7 million
a year ago. .
For the current
term ending Mar 2009 the net profit is projected at Yen 6 million, on a similar
turnover, at Yen 850 million. Steel
product prices are seen weakening but exports are unlikely to expand.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is estimated at Yen 15 million, on 30 days
normal terms.
REGISTRATION
Date Registered: May 2003
Legal Status Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%):
Trans Global Agency Corp*(100)
* Trans Global
Agency Corporation, at the caption address, wholesaler of electrode graphite,
steel products, other, founded 1998, capital Yen 10 million, turnover Yen 320
million, net profit Yen 10 million, employees 1, pres Gen Hibi, concurrently
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and exports electrode graphite, steel materials &
products, steel scraps, ingot mold, measuring instruments, sensors, other
industrial equipment (--100%).
The
parent, Trans Global Agency Corp, is a sole agent of Carbide Graphite (USA)
Clients
[Steel mills, mfrs] Tokyo Steel,
Nippon Steel, Kyoei Steel, Kanto Steel, Daiwa Steel, Sanyo Special Steel, Daido
Special Steel, Sumitomo Metal Ind, other.
Exports to
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers
[Mfrs] UCAR (Switz), Carbide
Graphite (
Payment record:
Regular
Location: Business area in
Bank References
MUFG
(Toranomon)
Chiba
Kogyo Bank (
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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850 |
850 |
750 |
700 |
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Recur.
Profit |
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Net
Profit |
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6 |
6 |
7 |
3 |
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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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25 |
19 |
12 |
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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 |
0.00 |
13.33 |
7.14 |
-0.71 |
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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 |
0.71 |
0.71 |
0.93 |
0.43 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2009 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)