MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

QUADRANT PLASTIC COMPOSITES JAPAN LTD

 

 

Registered Office :

3 Chitosecho Yokkaichi Mie-Pref 510-0051

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

September 1999

 

 

Com. Reg. No.:

(Mie-Yokkaichi) 001864

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of glass mat reinforced thermoplastics

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 19.2 Million

Status :

Moderate

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

QUADRANT PLASTIC COMPOSITES JAPAN LTD

REGD NAME:    Quadrant Plastic Composites Japan KK

MAIN OFFICE:  3 Chitosecho Yokkaichi Mie-Pref 510-0051 JAPAN

                        Tel: 059-352-3116     Fax: 059-354-0644

 

URL:                 http//:www.jgmt.net

E-mail:             (thru the URL)   

 

 

ACTIVITIES

 

Mfg of glass mat reinforced thermoplastics

 

BRANCHES   

 

Nil

 

FACTORY

 

At the caption address

 

 

OFFICER(S)

 

SHIGEYA OISHI, PRES             Sven Welich, dir

Kiyotaka Oshio, dir                    Tohru Tomono, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 1,080 M

PAYMENTS      REGULAR         CAPITAL           Yen 150 M

TREND             SLOW              WORTH            Yen 216 M

STARTED                     1999                 EMPLOYES      42

 

COMMENT    

 

MFR OF ENGINEERING PLASTICS. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: JPY 50,000,000.00

 

MAX CREDIT LIMIT: YEN 19.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established originally by three parties: Nippon Sheet Glass Co Ltd, Ube Nitto Chemical Co Ltd and Idemitsu Petrochemical Co Ltd, on transfer of stanpable sheet (KP sheet) business from Idemitsu NSG Co Ltd, originally as GMT Japan.  In Oct 2005, went into capital tie up with Quadrant Plastic Composites AG, Switz, and in Jan 2006 renamed as captioned.  This is a specialized mfr of engineering plastics: glass mat reinforced thermoplastic (GMT), high performance thermoplastic materials, and other related products. 

 

 

FINANCIAL INFORMATION

 

            Financials are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 1,080 million, a 34% up from Yen 808 million in the previous term.  Demand rose sharply from the client industries, such as automakers, transportation, telecommunications, other.  The operations came back to profitability to post Yen 43 million net profit, compared with Yen 28 million net losses a year ago.  .

 

For the current term ending Dec 2011 the net profit is projected at Yen 43 million, on a 2% rise in turnover, to Yen 1,100 million. 

           

            The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 19.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Sept 1999

Regd No.:        (Mie-Yokkaichi) 001864

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　3,000 shares

Issued:             　3,000 shares

Sum:                　Yen 150 million

Major shareholders (%): Quadrant Plastic Composites AG, Switz (80), Nippon Sheet Glass Co (20)

No. of shareholders: 2

 

Nothing detrimental is known as to the commercial morality of executives.

 

OPERATION

 

Activities: Manufactures high-performance thermoplastic products in shapes of: rods, bars, plates, sheets, tubes, other (--100%).

 

 

Clients: [Mfrs, wholesalers] Sato Shoji Corp, Futaba Industrial Co, Kiso Ind, Goshi Giken Co, Premac Co, other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Quadrant Plastic Composites AG, OCV Tsu KK, Eikou Bussan Co, other.

 

Payment record: Regular

 

Location: Light industrial area in Yokkaichi.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

            Mie Bank (H/O)

            MUFG (Yokkaichi)

            Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

1,100

1,080

808

1,385

Recur. Profit

　

　

　

　

　

Net Profit

　

45

43

-28

27

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

216

173

201

Capital, Paid-Up

　

　

150

150

150

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.85

33.66

-41.66

-21.31

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

4.09

3.98

-3.47

1.95

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.