MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
FUSO CO LTD |
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Registered Office : |
Tornare Nihombashi-Hamacho #214, 3-3-1 Nihombashi-Hamacho Chuoku Tokyo
103-0007 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
March 1958 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer(subcontracted), Import, Export of Gas Measuring Devices
and Equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 6.9 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
FUSO CO LTD
REGD NAME: KK Fuso
MAIN OFFICE: Tornare Nihombashi-Hamacho #214, 3-3-1
Nihombashi-Hamacho Chuoku Tokyo 103-0007 JAPAN
Tel:
03-5652-1151 Fax: 03-5652-1161
URL: http://www.fusorika.co.jp
E-Mail address: sales@fusorika.co.jp
ACTIVITIES
Mfg (subcontracted), import, export of gas measuring devices &
equipment
BRANCHES
Osaka
OVERSEAS
Shanghai, Guangzhou, Thailand
FACTORY
Ibaraki
OFFICER(S)
SUSUMU ENDOH, PRES
Yuichi Hayama, dir
Nobumasa Neishi, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 382 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 110 M
STARTED 1958 EMPLOYES 16
COMMENT
MFR OF GAS TESTING & MEASURING DEVICES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 6.9 MILLION,
30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject
company was established by father of Susumu Endoh in order to make most of his
experience in the subject line of business.
Susumu took the pres office May 2005.
Specializes in mfg (mostly subcontracted) gas testers & measuring
devices (See OPERATION for detailed
products). Goods are mostly
exported. Domestic clients include
major mfrs, nationwide.
FINANCIAL INFORMATION
Financials are
only partially disclosed.
The sales volume
for Mar/2008 fiscal term amounted to Yen 382 million, a 27% sharp hike from Yen
300 million in the previous term.
Exports rose particularly to Asian countries, China & Thailand,
where the firm has sales offices. The
net profit was posted at Yen 6 million, compared with Yen 1 million net profit
a year ago.
For the current
term ending Mar 2009 the net profit is projected at Yen 6 million, on a 3% rise
in turnover, to Yen 395 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 6.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1958
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Susumu Endoh (70), Yoko Endoh (320)
No. of
shareholders: 2
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures, exports and imports gas detector devices (--100%): Measuring devices and equipment for gas, Freon gas leak detectors, Freon gas monitors, Freon gas analyzers, organic solvent gas monitors, Co Monit CO2 analyzers, flammable gas monitors, air leak monitors, air leak tester, environmental measuring devices & equipment, thermo & humidity meters & dataloggers, anemometers, vibration meters, light meters, PH & conductivity meters, oxygen & dissolved oxygen meters, frequency, voltage & resistance testers, others (Cited from the firm’s Website)
Clients
[Mfrs, wholesalers] Fuso International, Uchida Yoko, Uno Corp, Kyokuto Shokai, Jeseong Engineering Co, other
Exports to China, Korea, Taiwan, Thailand, Malaysia, Singapore, USA, Italy, Germany, Netherlands, other.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Figaro Engineering Inc, other.
Imports from USA, China, Taiwan, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Nishi-Ikebukuro)
Daiko Bank (Tokyo)
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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395 |
382 |
300 |
343 |
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Recur.
Profit |
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Net
Profit |
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6 |
6 |
1 |
9 |
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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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110 |
104 |
103 |
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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 |
3.40 |
27.33 |
-12.54 |
-2.00 |
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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 |
1.52 |
1.57 |
0.33 |
2.62 |
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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.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)