MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SUN-S CO LTD |
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Registered Office : |
741-1 Kawaminami Kannabecho Fukuyama City Hiroshima-Pref 720-2124 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
January
1949 |
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Com. Reg. No.: |
(Hiroshima-Fukuyama)
029590 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of semiconductors, textile products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 251.2 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
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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
SUN-S CO LTD
REGD NAME
KK Sun-S
MAIN OFFICE
741-1 Kawaminami
Kannabecho Fukuyama City Hiroshima-Pref 720-2124, JAPAN
Tel:
084-963-1111 Fax: 084-963-5115
URL: http://www.sun-s.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
semiconductors, textile products
BRANCHES
Tokyo,
Osaka, Nara, Fukuyama
FACTORIES
Fukuyama
(3)
OFFICERS
Masaru
Sato, ch Hideki
Sato, v ch
TAKKUMI
SATO, PRES Masahiro
Mizuno, v pres
Yosuke
Ezaki, s/mgn dir Yoshiaki
Sato, mgn dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 22,480 M
PAYMENTS REGULAR CAPITAL Yen 97 M
TREND STEADY WORTH Yen 5,583 M
STARTED 1949 EMPLOYES 770
COMMENT
MFR OF ELECTRONIC COMPONENTS & TEXTILE PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 251.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1932 by Gunjiro Sato
as mfr of uniform & casual wear, on his account. Incorporated in 1949 the firm has been
succeeded by his descendants. This firm
is owned and operated by the Sato family and specializes in mfg electronic
components & textile products (See OPERATION). Clients include electronics mfrs, textile
mfrs, department stores, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 22,480
million, a 5% up from Yen 21,458 million in the previous term. Sales of semiconductors & related equipment
rose nearly 7%. The recurring profit was
posted at Yen 746 million and the net profit at Yen 136 million, respectively,
compared with Yen 288 million recurring profit and Yen 221 million net profit,
respectively, a year ago. Net profits
eroded due to the high Yen & hike in material prices.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 750 million and the net profit at Yen 140 million, respectively, on a 5%
rise in turnover, to Yen 23,500 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 251.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1949
Regd No.: (Hiroshima-Fukuyama) 029590
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
768,000 shares
Issued:
192,000 shares
Sum: Yen 96 million
Major shareholders (%): Sun Kaihatsu Co* (36),Takumi
Sato (18), Masaru Sato (12), Hideki Sato (10)
*.. Holding company owned by
the Sato family
No. of shareholders: 22
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures electronics components & textile products:
(Sales Breakdown by
Divisions):
EMS (Electronics Mfg Service) (60%): semiconductor assembly, electronic components designing & mfg, industrial control board mfg, device programming service;
Textile Products (40%): uniform & workwear, casual wear, uniform for food industry, staff uniform, office wear, uniform rental, other
Clients: [Mfrs, wholesalers, department stores] Sharp Inc, Unitika, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Unitika Ltd, Marubeni Corp, Matsuoka Corporation, Moririn Co Ltd, Itochu Corp, other.
Payment record: Regular
Location: Business area in Fukuyama, Hiroshima-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
· Bank of Hiroshima (Kannabec)
· Chugoku Bank (Kannabe)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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23,500 |
22,480 |
21,458 |
21,706 |
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Recur.
Profit |
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750 |
746 |
288 |
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Net
Profit |
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140 |
136 |
221 |
-1,389 |
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Total
Assets |
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30,465 |
29,479 |
26,627 |
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Current
Assets |
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15,271 |
16,172 |
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Current
Liabs |
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13,348 |
13,828 |
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Net Worth |
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5,583 |
5,535 |
5,245 |
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Capital,
Paid-Up |
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97 |
97 |
97 |
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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 |
4.54 |
4.76 |
-1.14 |
-23.20 |
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Current Ratio |
|
.. |
114.41 |
116.95 |
.. |
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N.Worth Ratio |
.. |
18.33 |
18.78 |
19.70 |
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R.Profit/Sales |
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3.19 |
3.32 |
1.34 |
.. |
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N.Profit/Sales |
0.60 |
0.60 |
1.03 |
-6.40 |
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Return On Equity |
.. |
2.44 |
3.99 |
-26.48 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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.