MIRA
INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SAWADA INDUSTRY CO LTD |
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Registered Office : |
2-17-8 Senzoku Taitoku |
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Country : |
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Financials (as on) : |
30.11.2009 |
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Year of Establishment : |
May 1953 |
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Com. Reg. No.: |
(Tokyo-Taitoku) 005013 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of steel 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 63.5 Million |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
Name and address
SAWADA INDUSTRY CO LTD
REGD NAME: Sawada
Sangyo KK
MAIN OFFICE: 2-17-8
Senzoku Taitoku
Tel: 03-3875-1871 Fax: 03-3875-1889
URL: N/A
ACTIVITIES
Wholesale of steel
products
BRANCHES
OFFICER(S)
SHIGEYOSHI SAWADA,
PRES Sachiko Sawada, dir
Atsuko Sawada, dir Kazuhiro Saotome, dir
Akira Fujikura,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,750 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND SLOW WORTH Yen
1,790 M
STARTED 1953 EMPLOYES 60
COMMENT
WHOLESALER
SPECIALIZING IN STEEL PRODUCTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT:
YEN 63.5 MILLION, 30 DAYS
HIGHLIGHTS
The subject
company was established by father of Shigemi Sawada in order to make most of his
experience in the subject line of business.
This is a family based trading firm for import, export and wholesale of
steel products: steel plates, bars, sheets, strap steel, other, as dealership
appointed by Sumitomo Metal Industries Ltd, 3rd ranked steel maker,
FINANCIAL INFORMATION
Financials are
only partially disclosed as is the case with family-based companies.
The sales volume
for Nov/2009 fiscal term amounted to Yen 2,750 million, a 26% down from Yen
3,700 million in the previous term.
Sales declined as substantially affected by the global economic
downturn. Demand from steel industries
declined sharply. Exports were hurt by
the rising Yen, substantially reducing revenues & profits in Yen
terms. The net profit was posted at Yen
30 million, compared with Yen 120 million a year ago. .
For the term that
ended Nov 2010 the net profit was projected at Yen 100 million, on a 13% rise
in turnover, to Yen 3,100 million. Sales
of steel plates grew, led by automobile-use products. 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 63.5
million, on 30 days normal terms.
REGISTRATION
Date Registered: May
1953
Regd No.:
(Tokyo-Taitoku) 005013
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major
shareholders (%): Shigemi Sawada (36), Sawako Sawada (20), Harumi Sawada (12), Hiromi
Sawada (12)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales steel products: steel sheets, steel plates, cold-rolled plates,
rolled steel plates, bars, strap steel, other, as agent dealership of Sumitomo
Metal Industries Ltd (--100%)
Clients: [Mfrs,
wholesalers] MK Seiko Co, Hitachi Ltd, Kotohira Kogyo, Tokyo Precision Pipes
Co, Takita Mfg Co, Matsuyama Co, Takano Co, Ogihara Mfg Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sumikin Bussan Corp (90%), Sumitomo Corp, Shinsei Shoji, other
Payment record: Regular
Location: Business area in
Bank References:
MUFG (Kaminarimon)
SMBC (Asakusa)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/11/2010 |
30/11/2009 |
30/11/2008 |
30/11/2007 |
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Annual
Sales |
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3,100 |
2,750 |
3,700 |
3,550 |
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Recur.
Profit |
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Net
Profit |
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100 |
30 |
120 |
95 |
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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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1,790 |
1,760 |
1,640 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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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 |
12.73 |
-25.68 |
4.23 |
4.41 |
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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 |
3.23 |
1.09 |
3.24 |
2.68 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/11/2010 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.45.16 |
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1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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 |
-- |
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.