MIRA INFORM REPORT

 

 

Report Date :           

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

SWALLOW TRADING CO LTD 

 

 

Registered Office :

Swallow Tower Bldg 2F, 2-13-5 Kuramae Taitoku Tokyo 111-0051

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

February 1964　

 

 

Com. Reg. No.:

(Tokyo-Taitoku) 006407

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of ski, snowboards

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 27.0 Million

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

SWALLOW TRADING CO LTD

 

 

REGD NAME

 

Swallow Trading KK

 

 

MAIN OFFICE

 

Swallow Tower Bldg 2F, 2-13-5 Kuramae Taitoku Tokyo 111-0051 JAPAN

Tel: 03-3863-3377     Fax: 03-3861-5537

 

URL:                             http://www.swallow-ski.com

E-Mail:                         swallow@xrj.biglobe.ne.jp  

 

 

ACTIVITIES

 

Import, export, wholesale of ski, snowboards, other

 

 

BRANCHEs

 

Nil

 

 

OFFICER(S)

 

Tetsuzo Maruyama, ch

SATOSHI MARUYAMA, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                 A/SALES          Yen 1,500 M

PAYMENTS      REGULAR         CAPITAL           Yen 100 M

TREND             SLOW              WORTH            Yen 297 M

STARTED                     1964                 EMPLOYES      10

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN SKIS & SNOWBOARDS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 27.0 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from YK Swallow Sports Supply (now renamed Swallow Ski Corp), sports goods mfr & wholesaler, based in Nagano-Pref.  Both Tetsuzo and Satoshi (Tetsuzo’s son) serve as ch & pres, concurrently, for the two firms.  This is a trading firm, owned by the Maruyama family, for import and export of skis, ski goods, snowboards, and other winter sports outfits.  Goods are imported from and exported to China centrally, where the firm has subcontracted mfr: Dalian Swallow.  Domestically goods are distributed by group dealerships to specialty stores, sports goods stores, other.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

 

The sales volume for May/2010 fiscal term amounted to Yen 1,500 million, a 3% up from Yen 1,450 million in the previous term.  The net profit was posted at Yen 20 million, compared with Yen 10 million a year ago. 

 

For the term that ended May 2011 the net profit was projected at Yen 15 million, on a 3% rise in turnover, to Yen 1,550 million.  Final results are yet to be released.

           

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.        Max credit limit is estimated at Yen 27.0 million, on 30 days normal terms.

 

REGISTRATION

 

Date Registered:  Feb 1964

Regd No.:           (Tokyo-Taitoku) 006407

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　800,000 shares

Issued: 　           200,000 shares

Sum:                　Yen 100 million

 

Major shareholders (%): Satoshi Maruyama (31), Tetsuzo Maruyama (25), Maruei Sangyo (10)

 

No. of shareholders: 20

           

* Swallow Ski Corp, mfr of winter sports goods, based in Nagano-Pref, founded 1954, capital Yen 73 million, ch Tetsuzo Maruyama & pres Satoshi Maruyama, concurrently

           

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales skis, ski outfits (40%), snowboards, other winter sports goods & outfits (60%).

 

40% of the goods are imported from and exported to Dalian Swallow Sports, China.

 

 

Clients: [Sports goods stores, wholesalers] Dalian Swallow Sports (China) (40%), Swallow Ski (20%), Swallow Rental Service, Swallow Sports Supply, other.

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Dalian Swallow Sports (China) (40%), Swallow Ski (30%), Swallow Sports Supply, Maruei Sangyo, Yamamoto Kogaku Co, ISO Sports, other.

            Imports from Europe, China, Taiwan, other

 

Payment record: Regular

 

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

 

Bank References:

·         Hachijuni Bank (Tokyo)

·         Mizuho Bank (Asakusa)

Relations: Satisfactory

 

FINANCES

 

(In Million Yen)

 

Terms Ending:

　

31/05/2011

31/05/2010

31/05/2009

31/05/2008

Annual Sales

　

1,550

1,500

1,450

1,800

Recur. Profit

　

　

　

　

　

Net Profit

　

15

20

10

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

297

283

276

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.33

3.45

-19.44

-26.53

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.97

1.33

0.69

0.28

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.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.29

 

 

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%)

 

 

 

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.