MIRA INFORM REPORT

 

 

Report Date :           

24.03.2011

 

 

Additional Information

The firm went bankrupt in April 2010 and in September 2010 transferred all operations to Kyokuyo Co Ltd., and itself became a pure liquidation company. The contented of the report refer to the operations prior to the bankruptcy.

 

IDENTIFICATION DETAILS

 

Name :

SHIN TOKYO INTERNATIONAL INC

 

 

Registered Office :

1-15-18 Minamiaoyama Minatoku Tokyo 107-0062

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2010

 

 

Date of Incorporation :

December 1988

 

 

Com. Reg. No.:

0132-01-002649 (Tokyo-Meguroku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of marine processed foods

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Bankrupt

Payment Behaviour :

----

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

SHIN TOKYO INTERNATIONAL INC

 

 

REGD NAME

 

Shin Tokyo International KK

 

 

MAIN OFFICE

 

1-15-18 Minamiaoyama Minatoku Tokyo 107-0062 JAPAN

Tel: 03-3479-3903     Fax: 03-3479-5959

 

*.. Registered at: 1-8-18 Chuocho Meguroku Tokyo

 

URL:                 www.shintokyo.co.jp

E-mail:             (thru the URL)   

 

 

ACTIVITIES  

 

Import, wholesale of marine processed foods

 

 

BRANCHES   

 

Funabashi, Fukuoka

 

 

OVERSEAS   

 

USA, Chile, China

 

 

FACTORIES  

 

Chile (fish farm)

OFFICER(S)  

 

YUTAKA JUMI, PRES                Shigefusa Yanagisawa, s/mgn dir

Takuo Kojima, mgn dir                Noriyuki Shingu, mgn dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 9,200 M

PAYMENTS                  REGULAR         CAPITAL           Yen 90 M

TREND             SLOW              WORTH            Yen 453 M

STARTED                     1988                 EMPLOYES      65

 

 

COMMENT

 

IMPORTER OF MARINE PROCESSED FOODS. 

 

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

 

MAX CREDIT LIMIT: YEN 58.3 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Yutaka Jumi in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of marine processed foods, mostly from Chile, where the firm operates a fish farm.  In Apr 2010, the firm bankrupted and sought for court protection from creditors under the Civil Rehabilitation Law, with liabilities of Yen 9,222 million.  Rehabilitation granted in Sept 2010 and restarted operations.

 

Simultaneously the firm transferred all the operations to Kyokuyo Co Ltd, fourth largest in seafood industry, Tokyo.  By this arrangement, the firm shifted its business nature to the liquidation and rehabilitation affairs handling only.  All the contents of this report refer to the status of the company before the bankruptcy.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for May/2010 fiscal term amounted to Yen 9,200 million, a 37% down from Yen 14,529 million in the previous term.  This is referred to the 6 month’s non-operation period due to the rehabilitation proceedings.  The net profit is estimated posted at Yen 5 million, compared with Yen 12 million a year ago.  .

 

For the current term ending May 2011 the net profit is projected at Yen 5 million, on a 9% rise in turnover, to Yen 10,000 million.  Fish prices are rising.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 58.3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:          Dec 1988

Regd No.:                     0132-01-002649 (Tokyo-Meguroku)

Legal Status:   　         Limited Company (Kabushiki Kaisha)

Authorized:      　         7,200 shares

Issued:                         1,800 shares

Sum:                　         Yen 90 million

Major shareholders (%): Yutaka Jumi (96), Rie Jumi (4)

No. of shareholders: 2

 

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

 

 

OPERATION

 

Activities: Imports and wholesales marine processed foods: salmon (cultured in Chile), fish roe, frozen cooked sushi, other (--100%).

 

Clients: [Restaurants, supermarkets] Seven & I Holdings Co, Sojitz Corp, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Imports from Chile, USA, China, other.

 

Payment record: Regular

 

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

 

Bank References:

Mizuho Bank (Kamiyacho)

MUFG (Akasaka)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/05/2011

31/05/2010

31/05/2009

31/05/2008

Annual Sales

　

10,000

9,200

14,529

13,085

Recur. Profit

　

　

　

71

68

Net Profit

　

5

5

12

30

Total Assets

　

　

N/A

5,982

5,660

Net Worth

　

　

453

448

435

Capital, Paid-Up

　

　

90

90

90

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

8.70

-36.68

11.04

10.35

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

7.49

7.69

    N.Profit/Sales

0.05

0.05

0.08

0.23

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/05/2011 fiscal term. 


 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.96

UK Pound

1

Rs.73.57

Euro

1

Rs.63.68

 

 

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.