MIRA INFORM REPORT

 

 

Report Date :           

20.04.2012

 

IDENTIFICATION DETAILS

 

Name :

SCYTHE CO LTD

 

 

Registered Office :

4-8-5 Sotokanda Chiyodaku Tokyo

 

 

Country :

Japan

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

June 2008

 

 

Com. Reg. No.:

0100-01-117910 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of PC & peripherals

 

 

No. of Employees :

30

 

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

 

SCYTHE CO LTD

 

 

REGD NAME

 

KK Scythe

 

 

MAIN OFFICE

 

Vantec Baraki 1st Logitec Center 2F, 3028 Baraki Ichikawa Chiba-Pref 272-0004 JAPAN

Tel: 047-320-6200      Fax: 047-320-6201

 

*.. Registered at: 4-8-5 Sotokanda Chiyodaku Tokyo

                                               

URL:                 http://www.scythe.co.jp

E-Mail address:            support@scythe.co.jp

 

 

ACTIVITIES  

 

Import, wholesale of PC & peripherals

 

 

BRANCHES

 

Baraki (warehouse)

 

 

OVERSEAS

 

China, USA, Taiwan, Europe

 

 

FACTORIES

 

(subcontracted)

 

OFFICERS

 

MASAHIRO SAKAI, PRES                                                        

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        R/WEAK                       A/SALES          Yen 1,466 M

PAYMENTS      Slow              CAPITAL           Yen 30 M

TREND             SLOW              WORTH            Yen 51 M

STARTED         2008     EMPLOYES      30

 

 

COMMENT

 

TRADING FIRM SPECIALIIZNG IN PC & PERIPHERALS.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$1,500,000 / O/A 90 DAYS.

                       

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

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from Scythe Holdings Co Ltd (See REGISTRATION).  This is a trading firm specializing in import, export and wholesale of PC & peripherals.  Domestic clients include electronics stores, information system firms, other.

 

 

FINANCIAL INFORMATION

           

Financial are consolidated by the parent and only partially disclosed.

 

The sales volume for May/2011 fiscal term amounted to Yen 1,466 million, a 19% down from Yen 1,804 million in the previous term.  The net profit was posted at Yen 8 million, compared with Yen 13 million a year ago.

 

For the current term ending May 2012 the net profit is projected at Yen 8 million, on a 2% rise in turnover, to Yen 1,500 million. 

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  The proposed amount for 90 days terms is considered TOO HIGH from the recent financial status.  Max credit limit is estimated at Yen 26.4 million, on 30 days normal terms.

REGISTRATION

 

Date Registered:           Jun 2008

Regd No.:                       0100-01-117910 (Tokyo-Chiyodaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2,400 shares

Issued:                600 shares

Sum:                   Yen 30 million

 

Major shareholders (%): Scythe Holdings Co Ltd* (66), other

 

No. of shareholders: 5

 

*.. Wholesaler of PC, Tokyo, founded 1993, capital Yen 30 million, turnover Yen 2,000 million, net profit Yen 4 million, net worth Yen 62 million, employees 5, pres Takashi Fujimori

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales PC & peripherals (100%)

 

(Handling items): CPU cooler, disk drive, case fan, PC cases, other

 

Clients: [Mfrs, wholesalers] PC Depot Corporation, Bic Camera, Yamada Denki, Unit Com, Daiwabo Information System, Yodobashi Camera, other

            No. of accounts: 100

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Wholesaler] Scythe Holdings Co Ltd

 

Payment record: Slow

 

Location: Business area in Ichikawa, Chiba-Pref.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Ueno)

Shoko Chukin Bank (Ueno)

Relations: Satisfactory

 

FINANCES

 (In Million Yen)

 

Terms Ending:

　

31/05/2012

31/05/2011

31/05/2010

Annual Sales

　

1,500

1,466

1,804

Recur. Profit

　

　

　

　

Net Profit

　

8

8

13

Total Assets

　

　

N/A

N/A

Net Worth

　

　

51

43

Capital, Paid-Up

　

　

30

30

Div.P.Share(¥)

　

　

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

    S.Growth Rate

2.32

-18.74

- - -

    Current Ratio

 

 

..

..

    N.Worth Ratio

 

..

..

    N.Profit/Sales

0.53

0.55

0.72

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/05/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.