MIRA INFORM REPORT

 

 

Report Date :

26.09.2011

 

IDENTIFICATION DETAILS

 

Name :

TOHSHIN CORPORATION

 

 

Registered Office :

Shinkosan Bldg 420, 1-13-38 Nishihonmachi Nishiku Osaka 550-0005

 

 

Country :

Japan

 

 

Date of Incorporation :

(Founded 1998) Not registered

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Export of golf goods, steel plates

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Unknown

 

 

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 and address

 

TOHSHIN CORPORATION (SOLE PROPRIETORSHIP)

REGD NAME:    Tohshin Boeki (Sole proprietorship & not registered)

MAIN OFFICE:  Shinkosan Bldg 420, 1-13-38 Nishihonmachi Nishiku Osaka 550-0005

JAPAN

                        Tel: 06-6535-8017     Fax: 06-6535-1006

 

URL:                 N/A

 

 

ACTIVITIES

 

Export of golf goods, steel plates

 

BRANCHES   

 

Nil

 

 

OFFICER(S)  

 

KOJI HARADA, PROPRIETOR

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 150 M

PAYMENTS                  UNKNOWN                   CAPITAL           - - -

TREND             SLOW                          WORTH            Yen 10 M

STARTED                     1998                             EMPLOYES      3 - 5

 

 

COMMENT    

 

SOLE PROPRIETOR SPECIALIZING IN EXPORTING GOLF GOODS & STEEL PLATES. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

 

 

 

HIGHLIGHTS

           

            This is a sole proprietorship started by Koji Harada in order to make most of his experience in the subject line of business.  A one-man operated trading firm specializing in exporting golf goods and steel plates.  Goods are exported to Korea, India, Pakistan, Taiwan, Hong Kong, Vietnam, and other S/E Asian countries.

           

 

FINANCIAL INFORMATION

 

            Financials are not disclosed.  We have collected the following figures directly from the pres, Hiroshi Harada, himself.  They are believed to be correct.  No verification from outside sources, however.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 150 million, a 25% down from Yen 200 million in the previous term.  This is largely referred to the high Yen reducing export revenues & profits in Yen terms.  The net profit was posted at Yen 5 million, compared with Yen 10 million a year ago.

 

For the current term ending Dec 2011 the net profit is projected at Yen 5 million, on a similar turnover, at Yen 150 million.

           

            The financial situation is considered maintained FAIR and good for ORDINARY business engagements.   we recommending secured terms on new transactions.  Financials figures were only given from the president himself and not verified by outside sources.

 

 

REGISTRATION

 

Date Registered:   Not registered

(Founded 1998)

Legal Status:      Sole Proprietorship

Net Worth:          Yen 10 million.

 

This is a sole proprietorship, owned and operated by Hiroshi Harada.  The net worth is estimated at Yen 10 million, which derived from his past savings.

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Exports golf goods & steel plates (--100%).

 

90% of the goods are exported to Korea India, Pakistan, Vietnam, Hong Kong, Taiwan, other.

 

 

Clients: [Mfrs, wholesalers] Exports to Korea, Taiwan, India, Hong Kong, Pakistan,

Vietnam, other S/E Asian countries

No. of accounts: Unavailable

Domestic areas of activities: Centered in greater-Osaka

Suppliers: Supplied from domestic suppliers for exports

 

Payment record: Regular

 

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

 

Bank References:

Tokushima Bank (Osaka)

Relations: Money deposits & transfers only

 

 

FINANCES

 (In Million Yen)

 

NOT DISCLOSED

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.67

UK Pound

1

Rs.76.50

Euro

1

Rs.66.98

 

 

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.