MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
COSMO OILS & FATS CO LTD |
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Registered Office : |
2-13-1 Doshin Kitaku Osaka 530-0035 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2007 |
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Date of Incorporation : |
February 1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Industrial Oils and Fats |
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 17.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
COSMO OILS &
FATS CO LTD
REGD NAME: Cosmo Yuka KK
MAIN OFFICE: 2-13-1 Doshin Kitaku Osaka 530-0035 JAPAN
Tel:
06-6351-3025 Fax: 06-6351-3086
URL: Nil
ACTIVITIES
Import, export, wholesale of industrial oils & fats
BRANCHES
Nil
OFFICER(S)
TADAO ASAI, PRES
Jun’ichi Takeuchi, dir
Moriyasu Uno, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,819 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND STEADY WORTH Yen 194 M
STARTED 1954 EMPLOYES 16
COMMENT
TRADING FIRM SPECIALIZING IN INDUSTRIAL OILS 6 FATS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 17.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tadao Asai in order to make most of his experi- ence in the subject line of business. This is a trading firm specializing in import and export of
industrial oils & fats. Clients are oil refineries, food processors, other.
FINANCIAL INFORMATION
The sales volume for Nov/2007 fiscal term amounted to Yen 1,819 million, a 6% up from Yen 1,711 million in the previous term. Exports rose. The recurring profit was posted at Yen 9 million and the net profit at Yen 4 million, respectively, compares with Yen 17 million recurring profit and Yen 8 million net profit, respectively, a year ago.
For the current term ending Nov 2008 the recurring profit is projected at Yen 10 million and the net profit at Yen 5 million, respectively, on a 4% rise in turnover, to Yen 1,900 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 17.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1954
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%)
Tadao Asai (38), Jun’ichi Takeuchi (32), Shoko Asai (7), Yoko Uehara (5), Yumiko Mizutani (5)
No. of shareholders: 12
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales industrial fats & oils, solvents, aromatics, other industrial chemicals, detergents, coatings, other (--100%).
Clients
[Mfrs, wholesalers] San’ai Oil, Nekken Chemical Ind, Matsui Color Ind, Nagase Elex, Osaka Printing Ink Mfg, Nippon Paint, Sumitomo Rubber Ind, other.
No. of accounts: 300
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Exxon Mobil, San’ai Oil, Mitsubishi Solvent Coating, Nisshin Oilio Group, Mitsubishi Shoji chemical, Cosmo Trade & Service, Himec Electronics, other,.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Tenjinbashi)
Mizuho Bank (Dojima)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/11/2008 |
30/11/2007 |
30/11/2006 |
30/11/2005 |
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Annual
Sales |
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1,900 |
1,819 |
1,711 |
1,627 |
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Recur.
Profit |
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10 |
9 |
17 |
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Net
Profit |
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5 |
4 |
8 |
3 |
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Total
Assets |
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1,198 |
1,136 |
1,156 |
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Current
Assets |
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493 |
450 |
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Current
Liabs |
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327 |
315 |
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Net
Worth |
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194 |
191 |
182 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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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 |
4.45 |
6.31 |
5.16 |
9.64 |
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Current Ratio |
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.. |
150.76 |
142.86 |
.. |
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N.Worth Ratio |
.. |
16.19 |
16.81 |
15.74 |
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R.Profit/Sales |
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0.53 |
0.49 |
0.99 |
.. |
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N.Profit/Sales |
0.26 |
0.22 |
0.47 |
0.18 |
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Return On Equity |
.. |
2.06 |
4.19 |
1.65 |
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Notes: Forecast (or estimated) figures for the 30/11/2008
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.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)