MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

NK INTERNATIONAL LTD

 

 

Registered Office :

Lucky Bldg 3F, 4-4-12 Honmachi Chuoku Osaka 541-0053

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

April 2006

 

 

Com. Reg. No.:

(Osaka-Chuoku) 069044

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import, export, wholesale of textile machinery, refrigerators

 

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 :

Moderate

 

 

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

 

NK INTERNATIONAL LTD

REGD NAME:    YK NK Tsusho

MAIN OFFICE:  Lucky Bldg 3F, 4-4-12 Honmachi Chuoku Osaka 541-0053 JAPAN

Tel: 06-6241-6510      Fax: 06-6241-0022

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Import, export, wholesale of textile machinery, refrigerators

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

KIYOSHI NAKAGAWA, PRES               

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        WEAK                          A/SALES          Yen 115 M

PAYMENTS      UNKNOWN                   CAPITAL           Yen 5 M

TREND UP                                WORTH            Yen (-) 1 M

STARTED         2006                             EMPLOYES      2

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN TEXTILE MACHINERY.

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

                       


HIGHLIGHTS

           

            The subject company was established by Kiyoshi Nakagawa originally in 1987, on his account, and incorporated in 2006.  This is a one-man operated trading firm for import, export and wholesale of textile machinery & accessories, business-use refrigerators, other.  Goods are exported to Taiwan, Bangladesh, Thailand, Pakistan, Korea, China, other.

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 115 million, a 22% up from Yen 94 million in the previous term.  Exports into China were robust.  The recurring profit was posted at Yen 1 million and the net profit was posted at Yen 1 million, respectively, compared with Yen 1 million a year ago.  High Yen ate into profits in Yen terms.

 

            For the current term ending Mar 2012 the recurring profit is projected at Yen 1 million and the net profit at Yen 1 million, respectively, on a 4% rise in turnover, to Yen 120 million.  Business is seen steadily expanding. 

 

The financial situation is considered WEAK but should be good for MODERATE business engagements.  We recommending fully secured terms on new transactions.  Negative net worth.

 

 

REGISTRATION

 

Date Registered:  Apr 2006

Regd No.:         (Osaka-Chuoku) 069044

Legal Status:      Private Limited Company (Yugen Kaisha)

Regd Capital:      Yen 5 million

Major shareholders (%): Kiyoshi Nakagawa (100)

           

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Imports, exports and wholesales textile machines & accessories (--50%), business-use refrigerators, cooling boxes, others (--50%).

 

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

Domestically: Fukushima Ind Corp, other

No. of accounts: Unavailable

Domestic areas of activities: Centered in greater-Osaka

Suppliers: [Mfrs, wholesalers] Kureha Elastomer Co, Kanhatsu Kogyo Co, Seiren Electronics Co, Toyo Machinery Co, Tsujii Dyeing Machine Ind, Texam Giken Co, other.

Imports from Thailand (50%), other

 

Payment record: Regular

 

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

 

Bank References:

            MUFG (Shinanobashi)

            Mizuho Bank (Semba)

            Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

120

115

94

85

Recur. Profit

　

1

1

1

　

Net Profit

　

1

1

1

-2

Total Assets

　

　

37

N/A

N/A

Net Worth

　

　

-1

0

1

Capital, Paid-Up

　

　

5

5

5

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.35

22.34

10.59

-48.48

    Current Ratio

 

 

 

..

..

    N.Worth Ratio

 

-2.70

..

..

    N.Profit/Sales

0.83

0.87

1.06

-2.35

 

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.55.70

UK Pound

1

Rs.87.55

Euro

1

Rs.68.85

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.