MIRA INFORM REPORT

 

 

Report Date :           

26.04.2012

 

IDENTIFICATION DETAILS

 

Name :

R & K TRADING CO LTD

 

 

Registered Office :

Marudai Higobashi Bldg 7F, 1-15-20 Edobori Nishiku Osaka 550-0002

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

April 1992

 

 

Com. Reg. No.:

Osaka-Nishiku) 041129

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of iron/steel products, used iron/gas machinery/equipment

 

 

No. of Employees :

05

 

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 166.2 Million

 

 

Status :

Small Company 

 

 

Payment Behaviour :

No Complaints

 

 

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

 

R & k TRADING CO LTD

 

 

REGD NAME 

 

KK R. K.

 

 

MAIN OFFICE

 

Marudai Higobashi Bldg 7F, 1-15-20 Edobori Nishiku Osaka 550-0002 JAPAN

Tel: 06-6448-2533     

URL:                 N/A

 

 

ACTIVITIES

 

Export of iron/steel products, used iron/gas machinery/equipment

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

YOSHIYUKI MORITA, PRES                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 9,060 M

PAYMENTS      No Complaints          CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 409 M

STARTED                     1992                             EMPLOYES      5

 

COMMENT

 

EXPORTER OF IRON/STEEL PRODUCTS & MACHINERY.

 

FINANCIAL SITUATION CONSIDERED FAIRFAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 166.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Yoshiyuki Morita in order to make most of his experience in the subject line of business.  This is a family-based trading firm, wholly owned by the Morita family, for export of iron/steel products, used iron/gas equipment and machinery.  Goods are exported to China and other S/E Asian countries.

 

 

FINANCIAL INFORMATION

           

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

 

The sales volume for Mar/2011 fiscal term amounted to Yen 9,060 million, a 26% up from Yen 7,201 million in the previous term.  Exports were robust into China, Thailand, other S/E Asian countries.  The net profit was posted at Yen 50 million, compared with Yen 46 million a year ago.

 

For the current term ending Mar 2012 the net profit is projected at Yen 55 million, on a 5% rise in turnover, to Yen 9,500 million.  Exports continue increasing steadily. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 166.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Apr 1992

Regd No.:         (Osaka-Nishiku) 041129

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Yoshiyuki Morita (60), Yoshiko Morita (20), Keiko Morita (20)

 

No. of shareholders: 3

 

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

 

 

OPERATION

           

Activities: Exports iron/steel products, steel/gas machinery & equipment (--100%).

 

Clients: [Mfrs, wholesalers] Exports to China, Thailand, Taiwan, other S/E Asian markets.

            No. of accounts: Unavailable

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Marubeni Corp, Mitsui & Co, Itochu Corp, other.

 

Payment record: No Complaints

 

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

 

Bank References:

·         MUFG (Nakanoshima)

·         SMBC (Dojima)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

9,500

9,060

7,201

8,510

Recur. Profit

　

　

　

　

　

Net Profit

　

55

50

46

46

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

409

444

476

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.86

25.82

-15.38

-1.79

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.58

0.55

0.64

0.54

 

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.52.49

UK Pound

1

Rs.84.66

Euro

1

Rs.69.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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.