MIRA INFORM REPORT
|
Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
RECYCLE CORPORATION |
|
|
|
|
Registered Office : |
1-6-1 Kamakura Katsushikaku Tokyo 125-0053
|
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2010 |
|
|
|
|
Date of Incorporation : |
June 1995 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Katsushikaku)
005265 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Export of steel/iron scraps,
building materials |
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 16.9 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 – 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
RECYCLE CORPORATION
REGD NAME
KK Recycle
Corporation
MAIN OFFICE
1-6-1 Kamakura Katsushikaku
Tokyo 125-0053 JAPAN
Tel:
03-5668-2881 Fax: 03-5668-2880
URL: http//:www.recycle-corp.co.jp
E-mail: info@recycle-corp.co.jp
ACTIVITIES
Export
of steel/iron scraps, building materials
BRANCHES
Tokyo,
Ichihara (--scrap yards)
OFFICER(S)
AKIRA
INAGAKI, PRES Fumiyo Inagaki,
dir
Tatsuya
Harada, dir Naoto Inagaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,296 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen
44 M
STARTED 1995 EMPLOYES 13
COMMENT
EXPORTER
SPECIALIZING IN IRON/STEEL SCRAPS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 16.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Akira Inagaki in order to make
most of his experience in the subject line of business. This is a trading firm specializing in export
of iron/steel scraps, building materials, other. Export destinations are China, Taiwan,
Pakistan, Bangladesh, Vietnam, and other S/E Asian countries.
FINANCIAL INFORMATION
The sales volume for May/2010 fiscal term amounted to Yen 1,296 million,
a 48% sharp decline from Yen 2,497 million in the previous term, affected substantially
by the global economic downturn that continued.
Exports continued to decrease substantially because of a decline in
demand and the appreciation of the Yen.
The operations, however, came back to profitability to post Yen 3
million recurring profit and Yen 8 million net profits, respectively, compared
with Yen 152 million recurring loss and Yen 154 million net losses,
respectively, a year ago. Cost-cutting
efforts after the deficit operations in last term contributed to improve
profitability, says the firm.
For the current term ending May 2011 the recurring profit is projected
at Yen 12 million and the net profit at Yen 10 million, respectively, on a 16%
rise in turnover, to Yen 1,500 million.
Exports revived into China, and other S/E Asian countries. High Yen continues to erode profits in Yen
terms. .
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 16.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1995
Regd No.: (Tokyo-Katsushikaku) 005265
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%): Akira Inagaki (35), Akira Inagaki
(25), Naoto Inagaki (25), Kenji Takahashi (15)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports iron/steel
scraps (20%), nonferrous metal scraps (35%), construction material scraps,
others (--45%).
Exports to China, Taiwan, Hong Kong, Pakistan, Bangladesh, Vietnam, and
other S/E Asian countries
Clients: [Mfrs,
wholesalers] Global Metals, Taizhou Weilong Metals, Mingbo Dongby Material,
Leader Steel, Intra Corp, Steelex Inc, BS Overseas, Y&T International Inc,
Sohmyoung Steel, Rongtai International, Lucky Steel, Four Seas, Dalian Notting
International Economic & Trading Co, Jalalabad Steel Building ltd, Samsung
Corp, Profit Trading, other
No. of accounts:
Unavailable
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Metal One Steel Service, Toho Sheet Frame, Leader Steel, Nisshin
A&O, Nichiha Corp, Kusano Sangyo, Sangyo Shinko Co, Sakae Kogyo, Nichiha
Matex, Mitsui & Co Steel Ltd, Sougo Kinzoku Co, Toa-Butsuryuu KK, The
Sangyo Shinko, KK, Nakamura Shoten, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
MUFG
(Koiwa)
Mizuho
Bank (Katsushika)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/05/2011 |
31/05/2010 |
31/05/2009 |
31/05/2008 |
|
|
Annual
Sales |
|
1,500 |
1,296 |
2,497 |
3,086 |
|
Recur.
Profit |
|
12 |
3 |
-152 |
25 |
|
Net
Profit |
|
10 |
8 |
-154 |
22 |
|
Total
Assets |
|
|
293 |
327 |
627 |
|
Current
Assets |
|
|
144 |
159 |
435 |
|
Current
Liabs |
|
|
172 |
163 |
307 |
|
Net
Worth |
|
|
44 |
37 |
192 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
0.42 |
|
|
S.Growth Rate |
15.74 |
-48.10 |
-19.09 |
-43.32 |
|
|
Current Ratio |
|
.. |
83.72 |
97.55 |
141.69 |
|
N.Worth Ratio |
.. |
15.02 |
11.31 |
30.62 |
|
|
R.Profit/Sales |
|
0.80 |
0.23 |
-6.09 |
0.81 |
|
N.Profit/Sales |
0.67 |
0.62 |
-6.17 |
0.71 |
|
|
Return On Equity |
.. |
18.18 |
-416.22 |
11.46 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.69 |
|
UK Pound |
1 |
Rs.73.12 |
|
Euro |
1 |
Rs.64.39 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.