MIRA INFORM REPORT
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Report Date : |
09.05.2011 |
IDENTIFICATION DETAILS
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Name : |
MEIYO BOEKI SHOKAI |
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Registered Office : |
Pro Palace Azuchimachi Bldg, 1-6-19 Azuchimachi Chuoku Osaka 541-0052 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
February 1989 |
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Com. Reg. No.: |
1200-04-013406 (Osaka-Chuoku) |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import, Export, Wholesale of textile machinery, cotton
yarns, fabrics, used cars |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 29.7 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
MEIYO BOEKI SHOKAI (SOLE
PROPRIETORSHIP)
REGD NAME
Meiyo Boeki Shokai
MAIN OFFICE
Pro Palace
Azuchimachi Bldg, 1-6-19 Azuchimachi Chuoku Osaka 541-0052 , JAPAN
Tel: 06-6264-0190 Fax: 06-6264-0147
URL: N/A
ACTIVITIES
Import,
export, wholesale of textile machinery, cotton yarns, fabrics, used cars
BRANCHES
Nil
OFFICER(S)
BADHELIA
YUSUF, PROPRIETOR
Mohamed
Yusuf, assistant dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,600 M
PAYMENTS Unknown CAPITAL - - - M
TREND SLOW WORTH Yen
337 M
STARTED 2003 EMPLOYES 5
COMMENT
TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 29.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject firm is
a sole proprietorship founded originally in 1969 by Badhelia Yusuf, a Pakistani
resident businessman, in order to make most of his experience in the subject
line of business by utilizing his wide networks in Pakistan and Japan. In Feb 1989 registered as proprietor ship
under the caption name. Mohamed Yusuf is
his son. This is a trading firm for
import, export and wholesale of textile weaving machines centrally, cotton
yarns, fabrics, and related goods. The
subject also exports used motor cars/motor cycles & parts to Pakistan,
India, China, other S/E Asian countries, East Europe, Africa, other. Imports are from India, Pakistan, other. Domestic clients include general trading
houses, textile makers, etc.
FINANCIAL INFORMATION
Being a sole
proprietorship, financials are disclosed only partially. We have obtained the Dec/2010 figures directly
from the firm.
The sales volume
for Dec/2010 fiscal term amounted to Yen 1,600 million, a 3% down from Yen
1,650 million in the previous term.
Sales were hurt by the high reducing earnings & profits in Yen
terms. Demand recovered. The net profit was posted at Yen 45 million,
compared with Yen 30 million net profit a year ago.
For the current
term ending Dec 2011 the net profit is projected at Yen 40 million, on a 6%
rise in turnover, to Yen 1,700 million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 29.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1989
Regd No.: 1200-04-013406 (Osaka-Chuoku)
Legal Status: Sole Proprietorship
Net Worth: Yen 337 million
This is a trading firm wholly owned and operated by Badhelia
Yusuf, on his account. The net worth is estimated at Yen 337 million,
which derived from his savings.
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports, exports and wholesales textile weaving machines/equipment,
their parts & components (70%),
cotton yarns (10%), fabrics (10%), used cars & parts, others (--10%).
Clients: [Apparel makers, wholesalers] Kanebo Ltd, Teijin Ltd, Sojitz Corp,
Toyota Tsusho Corp, Takisada Osaka, other.
Exports to India,
China, Pakistan, Nepal, Arab states, USA, Eastern Europe, other.
No. of accounts: 50
Domestic areas of activities: Centered
in greater-Osaka
Suppliers: [Mfrs, wholesalers] Tsudakoma Corp, Teijin Ltd, Kanebo Ltd, Toyota
Tsusho Corp, Sojitz Corp, other.
Imports from India
(10%), Pakistan, China, etc.
Payment record: Regular
Location: Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Hong
Kong Shanghai Bank (Osaka)
Mizuho
Bank (Semba)
Relations:
Money deposits & transfers only
FINANCES
In Million Yen
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Terms Ending: |
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31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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1,700 |
1,600 |
1,650 |
2,200 |
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Recur.
Profit |
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Net
Profit |
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40 |
45 |
30 |
25 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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337 |
306 |
285 |
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Capital,
Paid-Up |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.25 |
-3.03 |
-25.00 |
39.24 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
2.35 |
2.81 |
1.82 |
1.14 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.78 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.65.27 |
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.