MIRA
INFORM REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
JTC CORPORATION |
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Formerly Known As : |
JINSING TRADING KK |
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Registered Office : |
Nakanoshima Daibiru 805, Nakanoshima Kitaku Osaka 530-0005
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Country : |
Japan |
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Financials (as on) : |
30.04.2010 |
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Date of Incorporation : |
November, 1946 |
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Com. Reg. No.: |
(Osaka-Kitaku) 064845 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export (as agent) of Automotive Tires, Rubber Materials,
Rubber 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 59.6 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
JTC CORPORATION
REGD NAME
JTC KK
MAIN OFFICE
Nakanoshima Daibiru 805, Nakanoshima Kitaku Osaka 530-0005 JAPAN
Tel: 06-6910-3800
Fax: 06-6910-2270
URL:http://www.jtcnet.co.jp
E-Mail address: since1935@jtcnet.co.jp
ACTIVITIES
Export (as agent) of automotive tires, rubber materials,
rubber products
BRANCHES
Nil
OVERSEAS
Mumbai, Teheran, New Delhi (--affiliates) (See REGISTRATION)
OFFICERS
ICHIRO FUJIMURA, PRES
Yen
Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,191 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND UP WORTH Yen 190 M
STARTED 1946 EMPLOYES 11
COMMENT
COMMISSION MERCHANT FOR
EXPORTING AUTOMOTIVE TIRES, OTHER RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 59.6 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established originally in 1935 by
Kazunori Fujimura in Shanghai (China) as a trading firm, on his account. Incorporated in 1946 as Jinsing Trading KK in
FINANCIAL INFORMATION
The commission revenues for Apr/2010 fiscal term amounted to
Yen 4,191 million, a 96% sharp rise from Yen 2,136 million in the previous
term. Exports of automotive tires into
India rose robustly with the advance of auto makers to India. The recurring profit was posted at Yen 84
million and the net profit at yen 70 million, respectively, compared with Yen
86 million recurring profit and Yen 60 million net losses, respectively, a year
ago.
For the current term ending Apr 2011 the net profit is
projected at Yen 75 million, on a 10% rise in turnover, to Yen 4,600 million. Exports to India are rising.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 59.6 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Nov
1946
Regd No.: (Osaka-Kitaku)
064845
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
2.4 million shares
Issued: 600,000 shares
Sum: Yen 30 million
Major shareholders (%): Tatsuo
Fujimura (80), Masako Fujimura (10)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality
of executives.
Related
companies
Bombay Chemical & Rubber
Products (Mumbai);
JMF Synthetics Private Ltd (New
Delhi), JV with Mitsufuku Ind (special compound mfr,
Tochigi-Pref), JTC Corp and
Bombay Chemical Rubber Products;
Baspar Taban Co (Mashad, Iran),
automotive rubber parts mfr, in which JTC has 15% share;
GBL General Trading LLC (
OPERATION
Activities: Exports as commission agent automotive
tires, gaskets, valves, EDPM, rubber raw materials, rubber mfg machinery, other
industrial chemicals (--100%).
Clients: [Mfrs, wholesalers] Exports to India,
Iran, Indonesia, Thailand, Taiwan, Hong Kong, Malaysia, Pakistan, Korea, China,
UAE, Kuwait, Tunisia, Germany, USA, other.
No. of accounts: Unavailable
Domestic areas of activities:
Centered in greater-Osaka
Suppliers:
[Mfrs, wholesalers] JSR Corp (40%), Nippon Electric Glass, Pacific
Industrial Corp, Kobe Steel, Bridgestone Cycle, Tosoh Corp, Hitachi Ltd, Seiko
Chemical, Sanshin Chemical Ind, Mitsui Chemicals Ind, Nippon Roll Mfg, Kuraray
Co, Arakawa Chemical Ind, Takehara Kagaku Kogyo, other.
Payment record : Regular
Location : Business
area in Osaka. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
MUFG (Osaka-Chuo)
SMBC (Tenmabashi)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
30/04/2011 |
30/04/2010 |
30/04/2009 |
30/04/2008 |
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Annual Sales |
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4,600 |
4,191 |
2,136 |
1,863 |
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Recur. Profit |
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90 |
84 |
86 |
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Net Profit |
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75 |
70 |
-60 |
6 |
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Total Assets |
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1,160 |
933 |
603 |
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Current Assets |
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1,098 |
869 |
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Current Liabs |
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793 |
550 |
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Net Worth |
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190 |
119 |
183 |
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Capital, Paid-Up |
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30 |
30 |
30 |
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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 |
9.76 |
96.21 |
14.65 |
49.52 |
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Current Ratio |
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.. |
138.46 |
158.00 |
.. |
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N.Worth Ratio |
.. |
16.38 |
12.75 |
30.35 |
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R.Profit/Sales |
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1.96 |
2.00 |
4.03 |
.. |
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N.Profit/Sales |
1.63 |
1.67 |
-2.81 |
0.32 |
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Return On Equity |
.. |
36.84 |
-50.42 |
3.28 |
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Notes: Forecast (or estimated) for the 30/04/2011 fiscal
term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
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|
1 |
Rs.73.16 |
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Euro |
1 |
Rs.61.88 |
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.