MIRA INFORM REPORT

 

 

Report Date :           

27.09.2011

 

IDENTIFICATION DETAILS

 

Name :

NANKAI CORPORATION

 

 

Registered Office :

First Bldg 3F, 2-1-19 Iwamotocho Chiyodaku Tokyo 101-0032

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

April 1979

 

 

Com. Reg. No.:

(Tokyo-Chiyodaku) 004345

 

 

Legal Form :

Limited Company          

 

 

Line of Business :

Export of medical equipment; import of plywood

 

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 3.85 Million

 

 

Status :

Moderate

 

 

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 – 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

 

NANKAI CORPORATION

 

 

REGD NAME

 

Nankai Tsusho KK

 

 

MAIN OFFICE

 

First Bldg 3F, 2-1-19 Iwamotocho Chiyodaku Tokyo 101-0032 JAPAN

                        Tel: 03-5687-3644      Fax: 03-5687-3646

                                               

URL:                 N/A

 

 

ACTIVITIES  

 

Export of medical equipment; import of plywood

 

 

BRANCHES

 

Nil

 

 

OVERSEAS

 

Germany

 

 

FACTORIES

 

Indonesia

 

OFFICERS

 

MASAHIKO KUROYANAGI, PRES                    

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 179 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 77 M

STARTED                     1979                             EMPLOYES      4

 

 

COMMENT

 

EXPORTER OF MEDICAL EQUIPMENT.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR: US$1,500,000.00 / DA TERMS

                       

MAX CREDIT LIMIT: YEN 3.85 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established by Masahiko Kuroyanagi in order to make most of his experience in the subject line of business.  This is a family based trading firm specializing in exporting medical equipment & supplies and importing plywood for furniture making.  Exports to Germany, where the firm has an office, and Indonesia, where the firm operates a lumber factory.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed as is the case with family-based companies.

 

The sales volume for Feb/2011 fiscal term amounted to Yen 179 million, a 20% down from Yen 224 million in the previous term.  Both imports & exports declined as affected by the global economic downturn, particularly in the first half.  The net profit was posted at Yen 1 million, compared with Yen 2 million a year ago.

 

For the current term ending Feb 2012 the net profit is projected at Yen 1 million, on a 3% rise in turnover, to Yen 185 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 3.85 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Apr 1979

Regd No.:         (Tokyo-Chiyodaku) 004345

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:             20,000 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Masahiko Kuroyanagi & families (--100%)

No. of shareholders: 5

 

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

 

 

OPERATION

           

Activities: Exports medical equipment & supplies; imports plywood for furniture, other (--100%)

 

Clients: [Mfrs, wholesalers] Exports to Murti Indah, Germany, Indonesia, other.

Domestic Clients: Azuma Kogyo, Teramoto Corp, other

            No. of accounts: 100 (Domestic clients only)

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Wartono, Enika, Elk, other.

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Kanda-Ekimae)

Tokyo Higashi Shinkin Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

28/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

185

179

224

220

Recur. Profit

　

　

　

　

　

Net Profit

　

1

1

2

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

77

76

74

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.35

-20.09

1.82

-16.03

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.54

0.56

0.89

2.27

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 28/02/2012 fiscal term.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.62

UK Pound

1

Rs.76.68

Euro

1

Rs.66.47

 

 

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.