MIRA INFORM REPORT

 

 

Report Date :           

06.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SHINWA KOUGYOU CO LTD

 

 

Registered Office :

Ethnic Heights, 2-12-4 Kamioichiai Chuoku Saitama 338-0001

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

March 1980

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of light electric appliances

 

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 5.4 Million

Status :

Moderate

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 – 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

 

SHINWA KOUGYOU CO LTD

 

 

REGD NAME 

 

KK Shinwa Kougyou

 

 

MAIN OFFICE

 

Ethnic Heights, 2-12-4 Kamioichiai Chuoku Saitama 338-0001 JAPAN

Tel: 048-857-3631     Fax: 048-857-3635

URL:                 N/A      

 

 

ACTIVITIES

 

Export of light electric appliances

 

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

YOSHIO HASHIKAI, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 300 M

PAYMENTS      REGULAR         CAPITAL           Yen 10 M

TREND             SLOW              WORTH            Yen 108 M

STARTED                     1980                 EMPLOYES      3

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN LIGHT ELECTRIC APPLIANCES. 

 

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

 

MAX CREDIT LIMIT: YEN 5.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Yoshio Hashikai in order to make most of his experience in the subject line of business.  This is a trading firm, wholly owned by the Hashikai family, specializing in export of light electric appliances: audio/video systems (mechanisms, pickups, etc) for home & auto markets, plastic products, other.  Goods are exported mainly to Hong Kong, China, other.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.  The Feb/2011 figures have been verbally obtained from the owner, but not yet verified by third parties.

 

The sales volume for Feb/2011 fiscal term is said amounted to Yen 300 million, a similar amount in the previous term.  Demand remained weak from Hong Kong and China.  High Yen hurt exports revenues in Yen terms.  The net profit was posted at Yen 3 million, compared with Yen 5 million a year ago.  .

 

For the current term ending Feb 2012 the net profit is projected at Yen 3 million, on a 3% rise in turnover, to Yen 310 million.  Exports are recovering.  High Yen continues to eat into profits in Yen terms.   

           

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 5.4 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:  Mar 1980

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　80,000 shares

Issued:             　20,000 shares

Sum:                　Yen 10 million

 

Major shareholders (%): Yoshio Hashikai (60), Kazuyoshi Hashikai (20), Ayako Hashikai (20)

 

No. of shareholders: 3

 

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

 

OPERATION

 

Activities: Exports light electric appliances: car audio equipment (CD, DVD, cassette, etc), plastic products, other (--100%).

 

Clients: [Mfrs, wholesalers] Shinwa Hong Kong, SPC Hong Kong, Shinwa Technologies, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

Suppliers: [Mfrs, wholesalers] Josai Kikai, Matsubara Kogyo, other

 

Payment record: Regular

 

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

 

Bank References:

Towa Bank (Urawa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

28/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

310

300

300

300

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

　

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

108

105

100

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.33

0.00

0.00

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.97

1.00

0.00

1.67

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 28/02/2012 fiscal term. 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.57

UK Pound

1

Rs.73.58

Euro

1

Rs.66.23

 

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.