MIRA INFORM REPORT

 

 

Report Date :

24.01.2011

 

IDENTIFICATION DETAILS

 

Name :

JAPAN INDUSTRIAL SUPPLY CORPORATION

 

 

Registered Office :

2-1601 Tokushige Midoriku Nagoya 458-0815

 

 

Country :

Japan

 

 

Financials (as on) :

31.08.2010

 

 

Date of Incorporation :

February 1985

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of silicon rubber heaters, health foods

 

 

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 3.6 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 – 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

 

JAPAN INDUSTRIAL SUPPLY CORPORATION

 

 

REGD NAME 

 

Nippon Kogyo Boeki KK

 

 

MAIN OFFICE

 

2-1601 Tokushige Midoriku Nagoya 458-0815 JAPAN

Tel: 052-876-9888     Fax: 052-876-9688

URL:                 N/A

 

 

ACTIVITIES  

 

Import, export, wholesale of silicon rubber heaters, health foods

 

 

BRANCHES

 

Nil

 

 

OFFICER(S)

 

HIROSHI HIBINO, PRES

 

 

Yen Amount

 

In million Yen, unless otherwise stated

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 200 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 36 M

STARTED                     1985                             EMPLOYES      2

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN SILICON RUBBER HEATERS & HEALTH FOODS. 

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 3.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Hiroshi Hibino in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of silicon rubber heaters, their parts & equipment, including plastic insulating materials, manufactured by Kawai Electric Heater Co Ltd, Nagoya (details see REGISTRATION).  Also handles health foods and toiletries. 



FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Aug/2009 fiscal term amounted to Yen 200 million, a 3% down from Yen 206 million in the previous term.  Exports were hurt by the high Yen, reducing revenues & profits in Yen terms.  The net profit was posted at Yen 3 million, compared with Yen 4 million a year ago.

 

For the term that ended Aug 2010 the net profit was projected at Yen 3 million, on a 5% rise in turnover, to Yen 210 million.  The final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 3.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Feb 1985

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  800 shares

Issued:                         200 shares

Sum:                            Yen 10 million

Major shareholders (%): Hiroshi Hibino (75), Kawai Electric Heater Co Ltd* (20)

No. of shareholders: 3

 

*.. Electric heater mfr, Nagoya, founded1954, capital Yen 120 million, turnover Yen 1,324 million, net losses Yen 60 million, employees 58, pres Shin’ichi Saku         

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales silicon rubber heaters, their parts & compo-nents, including plastic insulting materials (--60%), health foods, cosmetics, toiletries, others (--40%). 

 

(Import 50%, export 50% (only estimated))

 

Clients: [Mfrs, wholesalers] Kawai Electric, Arlon, Matinform Esthetic International,  Kawai Electric, other

            No. of accounts: Limited

            Domestic areas of activities: Centered in greater-Nagoya

 

Suppliers: [Mfrs, wholesalers] Kawai Electric, Arlon, Saxonburg Ceramics, CSM, other.

 

Payment record: Regular

 

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

 

Bank References:

Bank of Nagoya (Shinzuibashi)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/08/2010

31/08/2009

31/08/2008

31/08/2007

Annual Sales

　

210

200

206

156

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

4

-6

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

26

23

19

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.00

-2.91

32.05

6.12

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.43

1.50

1.94

-3.85

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for 31/08/2010 fiscal term.

 

           

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.70

UK Pound

1

Rs.72.78

Euro

1

Rs.61.65

 

 

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.