MIRA INFORM REPORT

 

 

Report Date :           

02.06.2011

 

IDENTIFICATION DETAILS

 

Name :

SHIN HIROSE SHOJI CORPORATION 

 

 

Registered Office :

4133-2 Hongo Tachiaraimachi Miigun Fukuoka-Pref 830-1211

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

January 2006

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Mfg of food containers

 

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 11.1 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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

 Bottom of Form

SHIN HIROSE SHOJI CORPORATION

 

 

REGD NAME

 

Shin Hirose Shoji KK

 

 

MAIN OFFICE

 

4133-2 Hongo Tachiaraimachi Miigun Fukuoka-Pref 830-1211 JAPAN　

            Tel: 0942-77-3000     Fax: 0942-77-3939

URL:                 http://www.hirose-cm.co.jp/

E-mail:                         royalweb@hirose-cm.co.jp         

 

 

ACTIVITIES  

 

Mfg of food containers

 

 

BRANCHES   

 

Tokyo

 

 

FACTORIES  

 

At the caption address

 

 

OVERSEAS

 

Qingdao (3), Langfang, Yantai (--China)

 

 

OFFICER(S)  

 

SHIGETAKA HIROSE, PRES                 Masashi Kawakami, rep dir

Ikuo Maruyama, dir                                Takashi Hirose, dir

Norio Yoshiki, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 600 M

PAYMENTS      REGULAR         CAPITAL           Yen 43 M

TREND             SLOW              WORTH            Yen 57 M

STARTED                     2006                 EMPLOYES      22

 

 

COMMENT

 

MFR OF PLASTIC FOOD CONTAINERS 

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS, AND GOOD FOR CREDIT ENGAGEMENTS:US$400,000 / O/A 90 DAYS

 

MAX CREDIT LIMIT: YEN 11.1 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established on the basis of succession of business operations of KK Marx, mfr of food containers, founded 1966, to engage in mfg of plastic food containers.  This is a specialized mfr of plastic food containers: plastic bowl covers, injection plate, glass cover, food preserving containers, other.  Goods are manufactures at subsidiary makers in China (5), Taiwan, other subcontracted makers.  Goods are also exported to China, other S/E Asian countries.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for Jul/2010 fiscal term amounted to Yen600 million, a 14% down from Yen 696 million in the previous term.  Demand dropped due to sluggish consumer spending.  The higher Yen hurt export earnings & profits.  The net profit was posted at Yen 1 million, similarly in the previous term. 

 

For the current term ending Jul 2011 the net profit is projected at Yen 1 million, on a 5% rise in turnover, to Yen 630 million.  Demand picking up.  Production in China is increasing.

           

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 11.1 million, on 30 days normal terms.  The proposed amount for 90 days terms is considered within the firm’s financial capacities.

REGISTRATION

 

Date Registered:  Jan 2006

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　2,800 shares

Issued: 　           860 shares

Sum:                　Yen 43 million

Major shareholders (%): Shigetaka Hirose & families (100)

No. of shareholders: 7

 

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

 

 

OPERATION

 

Activities: Manufactures plastic food containers: injection plate, injection tub, PSP tub, glass cover, bowl cover, food preserving container, plastic raw materials, other (--100%).

 

Goods are both imported from and exported to China, Taiwan, other S/E Asian markets

 

Clients: [mfrs, wholesalers] Hinode Corp, Asahi Shokuhin Youki, Yamada Suisan (seafoods), Giken Kasei Co, Food Box Co, other    

No. of accounts: 300

Domestic areas of activities: Centered in Kyushu

 

Suppliers [Mfrs, wholesalers] Imports from China, Taiwan, other

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Kurume)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

630

600

696

703

Recur. Profit

　

　

　

　

　

Net Profit

　

3

1

1

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

57

56

47

Capital, Paid-Up

　

　

43

43

43

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.00

-13.79

-1.00

-11.35

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.48

0.17

0.14

0.14

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/07/2011 fiscal term

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.89

UK Pound

1

Rs.73.85

Euro

1

Rs.64.76

 

 

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

----

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%)

 

 

 

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.