MIRA INFORM REPORT

 

 

Report Date :           

09.04.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

SEA TRADING CO LTD

 

 

Registered Office :

Nippon SD Bldg, 1-10-6 Nihombashi-Ningyocho Tokyo 103-0013

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

March 2000

 

 

Com. Reg. No.:

0100-01-079276 (Tokyo-Chuoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of steel coils

 

 

No. of Employees :

03

 

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 26.4 Million

Status :

Moderate

Payment Behaviour :

Slow

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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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

 

SEA TRADING CO LTD

 

 

REGD NAME

 

Sea Trading KK

 

 

MAIN OFFICE

 

Nippon SD Bldg, 1-10-6 Nihombashi-Ningyocho Tokyo 103-0013 JAPAN

Tel: 03-5623-6988      Fax: 03-5623-6990

                                               

URL:                 http://www.seatrading.webfc.2com

E-Mail address:            seatrade@tke.att.ne.jp

 

 

ACTIVITIES

 

Export of steel coils

 

 

BRANCHES

 

Nil

 

 

OFFICERS

 

SHU NAGASHIMA, PRES                                                         

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        R/WEAK           A/SALES          Yen 1,500 M

PAYMENTS                  slow              CAPITAL           Yen 10 M

TREND                         SLOW              WORTH            Yen 19 M

STARTED         2000                 EMPLOYES      3

 

COMMENT

 

EXPORTER OF STEEL COILS.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 26.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Shu Nagashima in order to make most of his experience in the subject line of business.  This is a trading firm for exporting steel coils and other steel products.  Goods are also imported.  These goods include recycled ones.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Sept/2010 fiscal term amounted to Yen 1,500 million, a similar amount in the previous term.  Exports were hurt by the high Yen.  The net profit was posted at Yen 1 million, similarly a year ago.

 

For the term that ended Sept 2011 the net profit was projected at Yen 1 million, on a similar turnover, at Yen 1,500 million.  Final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 26.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Mar 2000

Regd No.:         0100-01-079276 (Tokyo-Chuoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Shu Nagashima (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Trading firm for import and export of steel coils & products: ETP coils, FTP coils, GA coils, tin-free steel sheets, tin plate sheet, other (--100%)

 

Clients: [Mfrs, wholesalers] Exports to Korea, Taiwan, Thailand, other.

Domestically: Nippon Steel Trading Co, Recycle Corporation, other

            No. of accounts: 100

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Nippon Steel Trading Co, Recycle Corporation, Asahi Trading Corp, Nakamura Shoji Corp, Nakadaya Corp, other

 

Payment record: slow

 

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

 

Bank References:

Resona Bank (Nihombashi)

MUFG (Koiwa)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/09/2011

30/09/2010

30/09/2009

30/09/2008

Annual Sales

　

1,500

1,500

1,500

3,000

Recur. Profit

　

　

　

　

　

Net Profit

　

1

1

1

2

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

19

18

17

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

0.00

0.00

-50.00

-1.15

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.07

0.07

0.07

0.07

 

Notes: Financials are only partially disclosed.

Estimated figures for the 30/09/2011 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.05

UK Pound

1

Rs.81.09

Euro

1

Rs.67.39

 

 

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%)

 

 

 

 

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.