MIRA INFORM
REPORT
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Report Date : |
22.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SOEI CO LTD |
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Registered Office : |
3-17-37 Kamikita Hiranoku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
September
1978 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import
of furniture |
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 6.3 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
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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 |
Company name
SOEI CO LTD
REGD NAME
KK Soei
MAIN OFFICE
3-17-37 Kamikita
Hiranoku
Tel: 06-6791-2285 Fax: 06-6791-5981
URL: www.sogokagu.co.jp (Of the parent)
E-mail: info@sogokagu.co.jp
ACTIVITIES
Import
of furniture
BRANCHES
Nil
OFFICER(S)
TADAHIRO
SHIGEMI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 300 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
112 M
STARTED 1978 EMPLOYES 1
COMMENT
IMPORTER
OF FURNITURE.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 6.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a
trading division separated from Sogokagu Co Ltd, mfg of furniture at the
caption address (See REGISTRATION). This is a trading division of Sogokagu Co and
imports furniture from Europe centrally, and
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2010 fiscal term amounted to Yen 300 million, a 25% down from Yen 400 million in the previous term. Sales were affected substantially by the global economic downturn. Demand declined. Consumer spending was sluggish. High Yen hurt import revenues in Yen terms, too. The net profit was posted at Yen 5 million, compared with Yen 12 million a year ago. .
For the current term ending Mar 2011 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 310 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 6.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1978
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen 10
million
Major shareholders (%):
Sogokagu Co Ltd* (90%), Tadahiro Shigemi (10%)
No. of shareholders: 2
*.. Mfr of furniture at the caption address, founded 1966, capital Yen 24 million, sales Yen 2,220 million, employees 56, pres Tadahiro shimeji, concurrently
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales furniture: tables, chairs, sofa, other (--100%)
Clients: [Mfr] Goods are wholly shipped to the parent, Sogokagu Co Ltd
No. of accounts: 1
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Kindai Co, Yamaoka Wood Industry, Asahi-Sofu Co, other.
Imports from:
Payment record: Regular
Location:
Business area in
Bank References:
· SMBC (Hirano)
· Resona Bank (Tanabe)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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310 |
300 |
400 |
600 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
12 |
37 |
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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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112 |
107 |
95 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
3.33 |
-25.00 |
-33.33 |
50.00 |
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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 |
1.61 |
1.67 |
3.00 |
6.17 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2011 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.45.70 |
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1 |
Rs.72.78 |
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Euro |
1 |
Rs.61.65 |
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 |
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.