MIRA
INFORM REPORT
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Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SPRING COSMO INTERNATIONAL CORPORATION |
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Registered Office : |
Koshin Bldg 7F, 2-2-22 Kanda-Nishikicho
Chiyodaku Tokyo 101-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment: |
June 1993 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 131476 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of paper, paper
products |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 141.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
SPRING COSMO INTERNATIONAL CORPORATION
REGD NAME: KK
Spring Cosmo International
MAIN OFFICE: Koshin
Bldg 7F, 2-2-22 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN
Tel: 03-5577-6602 Fax: 03-5577-6613
URL: http://www.springcosmo.com/
E-Mail address:info@springcosmo.com
ACTIVITIES
Import, export,
wholesale of paper, paper products
BRANCHES
Nil
OFFICER(S)
FUMITAKA
TAKAHASHI, PRES Yuzuru
Isshiki, dir
Eiji Takeshita,
dir Masanao
Osada, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,700 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 211 M
STARTED 1993 EMPLOYES 14
COMMENT
TRADING FIRM
SPECIALIZING IN PAPER & PAPER PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$1,500,000 / O/A 30 DAYS
MAX CREDIT LIMIT:
YEN 141.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by
Fumitaka Takahashi in order to make most of his experience in the subject line
of business. This is a trading firm for
import, export and wholesale of paper
& paper products: paper, coated paper, quality paper, board paper,
used/recycled paper, pulp, other. Goods are imported from Korea, Europe, Asia,
other, and exported to USA, Taiwan, Oceania, Asia, etc (80%). Domestic sales account for 20% of total
sales. Domestic clients include printing
firms.
FINANCIAL INFORMATION
Financials are
only partially disclosed.
The sales volume
for Mar/2010 fiscal term amounted to Yen 7,700 million, an 18% up from Yen
6,500 million in the previous term.
Recycled/used paper exports rose into Oceania (about 50%), Taiwan and
other S/E Asian countries. Demand for
coated paper also rose. The net profit
was posted at Yen 50 million, up from Yen 40 million a year ago.
For the term that
ended Mar 2011 the net profit was projected at Yen 55 million, on a 5% rise in
turnover, to Yen 8,100 million. Exports continued
robust into Asia. Final results are yet
to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 141.9
million, on 30 days normal terms. The
proposed amount is considered well within the firm’s financial capacities.
REGISTRATION
Date Registered: Jun 1993
Regd No.:
(Tokyo-Chiyodaku) 131476
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20
million
Major
shareholders (%): Fumitaka Takahashi (50), Nakagawa Mfg Co (25), Company’s Treasury Stock
(25)
No.
of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports,
exports (80%) and wholesales (20%) paper & paper products: coated paper,
bond paper, machine glazed paper, printing paper, fiberboard, quality paper,
used/recycled paper, pulp, other (--100%).
Clients: [Printers,
wholesalers] Nakagawa Mfg Co, Toyo Printing, Toppan Printing, Shiroki KK,
Kokusai Pulp & Paper, Seikosha Printing Ltd, other.
Exports to Oceania (50%), other to Taiwan,
Asia, USA, other
No. of accounts:
500
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Shiroki Co, Japan Paper & Pulp, Oji Trading, Kokusai Pulp
& Paper, Gojo Paper Mfg, Marubeni Corp, other.
Imports from Hansul Paper (Korea), other
from Europe, Asia, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Omotesando)
SMBC (Aoyama)
Relations:
Satisfactory
FINANCES
(In Million
Yen)
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Terms Ending: |
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31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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8,100 |
7,700 |
6,500 |
4,900 |
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Recur.
Profit |
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Net
Profit |
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55 |
50 |
40 |
25 |
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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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211 |
161 |
121 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.19 |
18.46 |
32.65 |
-3.92 |
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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 |
0.68 |
0.65 |
0.62 |
0.51 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/03/2011 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.45.25 |
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|
1 |
Rs.73.88 |
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Euro |
1 |
Rs.65.06 |
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 |
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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-- |
NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.