MIRA INFORM REPORT

 

 

Report Date :           

09.01.2012

 

IDENTIFICATION DETAILS

 

Name :

EBISTRADE INC

 

 

Registered Office :

Koshin Bldg 1/3F, 2-2-22 Kanda-Nishikicho Chiyodaku Tokyo 101-0054

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

March 2000

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Consigned mfg of media disks; Russian trade, import of security instruments

 

 

No. of Employees :

28

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 104.9 Million

Status :

Satisfactory

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

EBISTRADE INC

 

 

REGD NAME

 

Ebistrade KK

 

 

MAIN OFFICE

 

Koshin Bldg 1/3F, 2-2-22 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN

Tel: 03-3518-2871      Fax: 03-3518-2872

                                               

URL:                             http://www.ebistrade.com

E-Mail address:                        info@ebistrade.com

 

 

ACTIVITIES

 

Consigned mfg of media disks; Russian trade, import of security instruments

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

(subcontracted)

 

 

OFFICERS

 

RYOJI TERAI, PRES                              Yasuo Yamada, dir

Kazutoshi Tanaka, dir                             Seigo Tanaka, dir                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 5,007 M

PAYMENTS      REGULAR                     CAPITAL           Yen 447 M

TREND             STEADY                       WORTH            Yen 618 M

STARTED                     2000                             EMPLOYES      28

 

 

COMMENT    

 

TRADING FRIM SPECIALIZING IN MEDIA DISKA, SECURITY INSTRUMENTS, RISSIAN TRADE.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$2,000,000 / O/A 120 DAYS

                       

MAX CREDIT LIMIT: YEN 104.9 MILLION, 30 DAYS NORMAL TERMS

 

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a division separated from Mitsuiwa Corporation (See REGISTRATION).  This is a trading firm, with mfg division, for import, export and wholesale of media disks, security-related equipment, Russia trading, other.  Media disks are consigned mfg to domestic & overseas makers.

 

 

FINANCIAL INFORMATION

           

The sales volume for Feb 2011 fiscal term amounted to Yen 5,007 million, a 57% up from Yen 3,193 million in the previous term.  Operations recovered from the sharply declined sales in the last period.  The recurring profit was posted at Yen 186 million and the net profit at Yen 54 million, respectively, compared with Yen 50 million recurring profit and Yen 41 million net profit, respectively, a year ago.

 

For the current term ending Feb 2012 the recurring profit is projected at Yen 190 million and the net profit at Yen 60 million, respectively, on a 6% rise in turnover, to Yen 5,300 million.  Business is seen steadily expanding. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 104.9 million, on 30 days normal terms.  The proposed amount for 120 days terms is considered well within the firm’s financial capacities.

 

REGISTRATION

 

Date Registered:  Mar 2000

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         8,947 shares

Issued:    8,947 shares

Sum:                   Yen 447.35 million

 

Major shareholders (%): Mitsuiwa Corp (90.5), MUFG (5), Nipponkoa Insurance Co (3), Orient Corp (1.5)

No. of shareholders: 4

 

*.. Mitsuiwa Corp, Tokyo, system integration, founded 1964, capital Yen 490 million, sales Yen 43,708 million, net profit Yen 109 million, total assets Yen 25,531 million, employees  1,172, pres Yuichi Iida

 

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

 

 

OPERATION

           

Activities: Imports, exports and wholesales: media disks (DVD/CD) (mfg is consigned), Russia trading (mainly export of used cars, commodities, etc in Siberia and east Russia region), security & airport-related equipment (metal detectors, X-ray detectors, other), others (--100%)

 

Clients: [Mfrs, wholesalers] Benesse Corp, Korean Chemical, Best Sellers Inc, Seijo Far East, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sojitz Corp Taiwan, Auto Servers, CEIA (Italy), Astrophysical (USA), Tokyo Gas Engineering, USS Seijo, other

 

Payment record: Regular

 

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

 

Bank References:

·         MUFG (Tokyo)

·         Resona Bank (Tokyo)

Relations: Satisfactory

FINANCES

 (In Million Yen)

 

       Terms Ending:

29/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

5,300

5,007

3,193

8,365

Recur. Profit

　

190

186

50

　

Net Profit

　

60

54

41

147

Total Assets

　

　

2,264

2,014

1,450

Current Assets

　

　

2,044

1,730

　

Current Liabs

　

　

1,553

1,346

　

Net Worth

　

　

618

561

520

Capital, Paid-Up

　

　

447

447

447

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.85

56.81

-61.83

-1.59

    Current Ratio

 

..

131.62

128.53

..

    N.Worth Ratio

..

27.30

27.86

35.86

    R.Profit/Sales

 

3.58

3.71

1.57

..

    N.Profit/Sales

1.13

1.08

1.28

1.76

    Return On Equity

..

8.74

7.31

28.27

 

Notes: Forecast (or estimated) figures for the 29/02/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.