MIRA INFORM REPORT

 

 

Report Date :

21.02.2011

 

IDENTIFICATION DETAILS

 

Name :

TIP TOP JAPAN INC

 

 

Registered Office :

2-338 Kamiodai Nishiku Nagoya 452-0821

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

April 1977

 

 

Com. Reg. No.:

(Nagoya-Nishiku) 047655

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of automotive & industrial products

 

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 18.4 Million

Status :

Small Company 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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

 

TIP TOP JAPAN INC

 

 

REGD NAME

 

KK Tip Top Japan

 

 

MAIN OFFICE

 

2-338 Kamiodai Nishiku Nagoya 452-0821 JAPAN

Tel: 052-502-3500     Fax: 052-502-3620

URL:                 www.tiptop-japan.co.jp

E-mail:             (thru the URL)   

 

 

ACTIVITIES  

 

Import, wholesale of automotive & industrial products

 

 

BRANCHES

 

Saitama, Osaka

 

 

OFFICER(S)  

 

OSKAR SPAGERT, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 716 M

PAYMENTS                  REGULAR         CAPITAL           Yen 100 M

TREND             STEADY           WORTH            Yen 204 M

STARTED                     1977                 EMPLOYES      22

 

COMMENT

 

TRADING FIRM SPECIALIZING IN AUTOMOTIVE & INDUSTRIAL PRODUCTS, WHOLLY OWNED BY

STAHLGRABER OTTO GMBH. . 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$50,000 / O/A 30 DAYS

 

MAX CREDIT LIMIT: YEN 18.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Stahlgraber Otto Braber GmbH, Germany, as its marketing arm in Japan.  This is a trading firm specializing in automotive & industrial products (See OPERATION).  Goods are wholly supplied by the German parent and its group firms. 

 

 

FINANCIAL INFORMATION

 

Financials are consolidated by the Germany parent and only partially disclosed.

 

The sales volume for Dec/2009 fiscal term amounted to Yen 716 million, a 7% up from Yen 669 million in the previous term.  Automotive market recovered.  The net profit was posted at Yen 27 million, compared with Yen 34 million a year ago.  .

 

For the term that ended Dec 2010 the net profit was projected at Yen 40 million, on a 10% rise in turnover, to Yen 790 million.  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 18.4 million, on 30 days normal terms.  The proposed amount is considered well within the firm’s financial capacities. 

 

 

REGISTRATION

 

Date Registered:          Apr 1977

Regd Not.:                    (Nagoya-Nishiku) 047655

Legal Status:   　         Limited Company (Kabushiki Kaisha)

Authorized:      　         200,000 shares

Issued:                         200,000 shares

Sum:                　         Yen 100 million

Major shareholders (%): Stahlgraber Otto Graber GmbH, Germany (100)

           

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

 

 

OPERATION

 

Activities: Imports and wholesales automotive & industrial products (--100%).

 

(Products handled):

 

Automotive-related: tube repair materials tire repair materials, chemical products, tire valves & hardware, tire balancing products;

 

Industrial-related: corrosion protection, wear protection products, other

 

Clients: [Mfrs, wholesalers] Auto Backs Seven, Bridgestone Corp, Bridgestone Cycle, SPK, Mitsui Metal Mining, Nippon Steel, Sumitomo Rubber Ind, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Stahlgraber GmbH (60%), Technical Urethane (5%), other

 

Payment record: Regular

 

Location: Business area in Nagoya.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Juroku Bank (Odai)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2010

31/12/2009

31/12/2008

31/12/2007

Annual Sales

　

790

716

669

700

Recur. Profit

　

　

　

　

　

Net Profit

　

40

27

34

36

Total Assets

　

　

N/A

439

N/A

Net Worth

　

　

204

185

161

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

10.34

7.03

-4.43

-1.41

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

42.14

..

    N.Profit/Sales

5.06

3.77

5.08

5.14

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2010 fiscal term. 


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.73.04

Euro

1

Rs.61.43

 

 

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

 

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.