MIRA INFORM REPORT

 

 

Report Date :

08.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FUJISAWA TRADING CORPORATION

 

 

Registered Office :

1961-1 Uchimodori Fujisawa Kanagawa-Pref 252-0824

 

 

Country :

Japan

 

 

Financials (as on) :

31.10.2010

 

 

Year of Establishment :

December  1979

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of used construction machinery; import of granite, pebbles

 

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 30.4 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 – 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

 

Name and address

 

FUJISAWA TRADING CORPORATION

REGD NAME:    Fujisawa Boeki KK

MAIN OFFICE:  1961-1 Uchimodori Fujisawa Kanagawa-Pref 252-0824 JAPAN

                        Tel: 0466-21-8205     Fax: 0466-22-9901

                                               

URL:                 http://www.usedmachinery.co.jp

E-Mail address: tomo@usedmachinery.co.jp

 

 

ACTIVITIES

 

Export of used construction machinery; import of granite, pebbles

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

TOMOYASU HAMANO, PRES              

Zenjiro Hamano, dir

Hisae Hamano, dir                    

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,250 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 434 M

STARTED                     1979                             EMPLOYES      5

 

 

COMMENT

 

TRADING FIRM FOR EXPORTING USED CONSTRUCTION MACHINERY.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 30.4 MILLION, 30 DAYS NORMAL TERMS

HIGHLIGHTS

           

The subject company was established originally in 1964 by Takeshi Hamano for importing sea shells.  Incorporated in 1979, the firm changed the mainline to export of used construction machinery/equipment and import of granite and pebbles.  Goods are exported centrally to S/E Asian countries, including China.  The firm is wholly owned by the Hamano family.  Tomoyasu is the founder’s son, who took the pres office in Nov 2008.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

           

The sales volume for Oct/2010 fiscal term amounted to Yen 1,250 million, a 4% up from Yen 1,200 million in the previous term.  Exports revived due to robust demand in China for construction machinery & equipment.  The net profit was posted at Yen 25 million, compared with Yen 23 million a year ago.

 

For the current term ending Oct 2011 the net profit is projected at Yen 25 million, on a 4% rise in turnover, to Yen 1,300 million.  Demand is increasing in China and other S/E Asian countries, says the firm. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 30.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1979

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:                20,000 shares

Sum:                   Yen 10 million

Major shareholders (%): Takeshi Hamano and families (--100)

No. of shareholders: 4

 

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

 

 

OPERATION

           

Activities: Trading firm for exporting used construction machinery (excavators, dozers, loaders, graders, road rollers, asphalt pavers, cranes, parts & attachment) (80%), used trucks (15%); imports granite & pebbles (5%).

 

Clients: [Mfrs, wholesalers] Mitsubishi Corp, Otomobile, Eckools, Naka Nihon Caterpillar Mitsubishi Construction Machinery Sales, Shonan Kenzai, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Caterpillar East Japan, UD Trucks Japan, Kanagawa Nissan Hambai, other

 

Payment record: Regular

 

Location: Business area in Fujisawa City, Kanagawa-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References:

MUFG (Fujisawa)

Shizuoka Bank (Fujisawa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/10/2011

31/10/2010

31/10/2009

31/10/2008

Annual Sales

　

1,300

1,250

1,200

1,300

Recur. Profit

　

　

　

　

　

Net Profit

　

25

25

23

25

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

434

309

386

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.00

4.17

-7.69

-18.75

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.92

2.00

1.92

1.92

 

Notes: Financials are only partially disclosed.  Profits are estimated as not precisely disclosed.

Forecast (or estimated) figures for the 31/10/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.74

UK Pound

1

Rs.73.25

Euro

1

Rs.65.48

 

 

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.