MIRA INFORM REPORT
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Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SHINKO BOEKI CO LTD |
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Registered Office : |
Shibuya Central Bldg 4F, 3-14 Udagawacho
Shibuyaku Tokyo 150-0042 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
January 1966 |
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Com. Reg. No.: |
(Tokyo-Shibuyaku)
010192 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of vehicle parts, synthetic rubber, industrial detergent |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 65.6 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
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
SHINKO BOEKI CO LTD
REGD NAME
Shinko Boeki KK
MAIN OFFICE
Shibuya Central
Bldg 4F, 3-14 Udagawacho Shibuyaku Tokyo 150-0042 JAPAN
Tel:
03-343-0941 Fax: 03-3463-1407
ACTIVITIES
Import,
wholesale of vehicle parts, synthetic rubber, industrial detergent, other
BRANCHES
Nil
OFFICER(S)
HIROMU
NOZAWA, PRES
Hiroshi Nozawa, s/mgn dir
Ichiro Takayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,562 M
PAYMENTS REGULAR CAPITAL Yen
20 M
TREND SLOW WORTH Yen
547 M
STARTED 1966 EMPLOYES 17
COMMENT
IMPORTER & WHOLESALER SPECIALIZING IN TRUCK & TRAILER PARTS
& COMPONENTS, SYNTHETIC RUBBER,
OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS:
US$50,000.00 / O/A 90 DAYS.
MAX CREDIT LIMIT: YEN 65.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Satoshi Nozawa in order to make
most of his experience in the subject line of business. Hiromu is the founder’s son, who assumed the
pres office in Jun 2006. This is a
trading firm specializing in truck & trailer parts & components,
synthetic rubber, detergent for industrial use, hand tools, other. Goods are imported from Europe, USA,
other. Clients include truck & car
makers.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 1,562 million,
a 28% up from Yen 1,222 million in the previous term. Financials are only partially disclosed for
this term. The net profit was posted at
Yen 29 million, compared with Yen 25 million a year ago. .
For the current term ending Mar 2012 the recurring profit is projected
at Yen 45 million and the net profit at Yen 30 million, respectively, a year
ago.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 65.6 million, on 30 days normal terms. The proposed amount for 90 days terms is
considered well within the firm’s financial capacities.
REGISTRATION
Date Registered: Jan 1966
Regd No.: (Tokyo-Shibuyaku) 010192
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000
shares
Sum: Yen 20 million
Major shareholders (%): Satoshi Nozawa (35.3), Hiromu
Nozawa (15.9), Hiroshi Nozawa (14.9), Ichiro Takayama (5)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales torque wrench, sliding roof (for trucks/trailers), fifth wheels,
trailer axles & suspension system, truck & bus suspensions, landing gear
king pins, coupling products, detergent for industrial use, bread-making
equipment, synthetic rubber, kids trailers, hand tools, other (--100%).
Clients: [Mfrs,
wholesalers] Nissan Diesel Motor, Usui Kokusai Sangyo, Isuzu Motor, Tajima
Roofing, Kamijin Co, Hino Tsusho Co, Sohshin Co, Nippon Fruehauf Co, UD Trucks,
other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Allen Group, Lawgen Dorf, Ice Tech, Frotrade, Carrieres Des Lacs,
Union Des Caseiueies Cooperatives, Nautong Artech Machinery, UBG Group, other.
Imports from UK (20%), Germany (12%), USA, other;
Domestically supplied from: Sumitomo Electric Ind, Yazaki Corp, Sanyo
Trading Co, Fukuoka Packing Co, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Shibuya-Chuo))
Mizuho
Bank (Shibuya)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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1,562 |
1,222 |
1,702 |
1,725 |
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Recur.
Profit |
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40 |
42 |
75 |
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Net
Profit |
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29 |
25 |
30 |
48 |
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Total
Assets |
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|
859 |
934 |
944 |
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Current
Assets |
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|
711 |
793 |
825 |
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Current
Liabs |
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|
262 |
359 |
396 |
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Net
Worth |
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547 |
524 |
497 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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75.00 |
75.00 |
75.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
27.82 |
-28.20 |
-1.33 |
10.51 |
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Current Ratio |
|
.. |
271.37 |
220.89 |
208.33 |
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N.Worth Ratio |
.. |
63.68 |
56.10 |
52.65 |
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R.Profit/Sales |
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.. |
3.27 |
2.47 |
4.35 |
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N.Profit/Sales |
1.86 |
2.05 |
1.76 |
2.78 |
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Return On Equity |
.. |
4.57 |
5.73 |
9.66 |
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Notes: The 31/03/2011 figures are actually resulted &
confirmed figures. Financials are only
partially disclosed for this term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
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UK Pound |
1 |
Rs.71.88 |
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Euro |
1 |
Rs.63.75 |
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 |
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NB |
New Business |
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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.