MIRA INFORM REPORT

 

 

Report Date :           

08.06.2011

 

IDENTIFICATION DETAILS

 

Name :

M & H CORPORATION

 

 

Registered Office :

Crescent Bldg-Misuji 7F, 1-9-4 Misuji Taitoku Tokyo 111-0055

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

December 1989

 

 

Com. Reg. No.:

(Tokyo-Taitoku) 030334

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of spices from India

 

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 23.2 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

M & H CORPORATION

 

 

REGD NAMe 

 

KK M & H Corporation

 

 

MAIN OFFICE

 

Crescent Bldg-Misuji 7F, 1-9-4 Misuji Taitoku Tokyo 111-0055JAPAN

Tel: 03-5835-3345     Fax: 03-5835-3346

URL:                 N/A

 

 

ACTIVITIES

 

Import, wholesale of spices from India

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

JOH KONNO, PRES                             

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 1,000 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 20 M

TREND             SLOW                          WORTH            Yen 57 M

STARTED                     1989                             EMPLOYES      4

 

COMMENT

 

IMPORTER AND WHOLESALER OF SPICES FROM INDIA. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 23.2 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established by Kazuo Tsugawa in order to make most of his experience in the subject line of business.  In Nov 2009, K Tsugawa stepped down and Joh Konno took the pres office.  This is a trading firm for import and wholesale of spices.  Goods are imported from India.  Clients are local food processors, food industry, other.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed and in rounded-off numbers.

 

The sales volume for Jul/2010 fiscal term amounted to Yen 1,000 million, a similar amount in the previous term.  The net price was posted at Yen 5 million, similarly in the previous term

 

For the current term ending Jul 2011 the net profit is projected to mark time at Yen 5 million, on a similar turnover, at Yen 1,000 million. 

           

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 23.2 million, on normal 30 days terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1989

Regd No.:           (Tokyo-Taitoku) 030334

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1,600 shares

Issued:               400 shares

Sum:                   Yen 20 million

Major shareholders (%): Kazuo Tsugawa, Joh Konno, other (Details unavailable)

No. of shareholders: 7

           

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

 

 

OPERATION

 

Activities: Imports and wholesales spices, all from India (100%).

 

Clients: [Food processors, wholesalers, restaurants] Ikeda Tohka Ind, other.

            No. of accounts: 200

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs] Imports wholly from India

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Nihombashi-Higashi)

MUFG (Yaesudori)

Relations: Satisfactory

 

 

FINANCES

(in Million Yen)

 

Terms Ending:

　

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

1,000

1,000

1,000

1,000

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

5

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

57

52

47

Capital, Paid-Up

　

　

20

20

20

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

0.00

0.00

0.00

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.50

0.50

0.50

0.50

 

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.44.74

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.