MIRA INFORM REPORT

 

 

Report Date :           

15.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SANMIC CORPORATION

 

 

Registered Office :

2-2-14 Hiranocho Chuoku Osaka 541-0046

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 1991

 

 

Com. Reg. No.:

(Osaka-Chuoku) 080245

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Exporter of industrial chemicals

 

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 4.2 Million

 

 

Status :

Small Company 

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

SANMIC CORPORATION

 

 

REGD NAME

 

KK Sanmic

 

 

MAIN OFFICE

 

2-2-14 Hiranocho Chuoku Osaka 541-0046 JAPAN

 

Tel: 06-6226-4053      Fax: 06-6226-4054

 

*.. Moved to the caption address from the address given

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Export of industrial chemicals

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

HIROSHI KANAGAWA, PRES               

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 230 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND SLOW                          WORTH            Yen 80 M

STARTED         1991                             EMPLOYES      2

 

 

COMMENT    

 

EXPORTER OF INDUSTRIAL CHEMCIALS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 4.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Hiroshi Kanagawa in order to make most of his experience in the subject line of business.  This is a trading firm for export of industrial chemicals.  Exports to Thailand, Hong Kong, Indonesia, Bangladesh, Vietnam, other.  3% of the products are sold to domestic clients.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 230 million, a 10% up from Yen 210 million in the previous term.  The net profit was posted at Yen 3 million, compared with Yen 3 million a year ago.

 

For the current term ending Mar 2012 the net profit is projected at Yen 3 million, on a 4% rise in turnover, to Yen 240 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 4.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Apr 1991

Regd No.:         (Osaka-Chuoku) 080245

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Hiroshi Kanagawa (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Exporter of industrial chemicals (100%)

 

Clients: [Mfrs, wholesalers] Exports to Thailand, Hong Kong, Indonesia, Bangladesh, UK, Turkey, Vietnam, other.

            No. of accounts: Unavailable

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Marubeni Corp, Daicel Chemical Ind, Daikin Industries, Daiichi-Kogyo Seiyaku Co, other

 

Payment record: Regular

 

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

 

Bank References:

·         SMBC (Osaka)

·         Kinki Osaka Bank (Semba)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

240

230

210

220

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

3

7

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

80

77

74

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.35

9.52

-4.55

10.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.25

1.30

1.43

3.18

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.81

UK Pound

1

Rs.75.16

Euro

1

Rs.65.11

 

 

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.