MIRA INFORM REPORT

 

 

Report Date :

07.03.2012

 

IDENTIFICATION DETAILS

 

Name :

ASIA ASSOCIATES INC

 

 

Registered Office :

No. 1 Nan-Oh Bldg, 2-21-2 Nishi-Shimbashi Minatoku Tokyo 105-0003

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

May 1978

 

 

Com. Reg. No.:

0104-01-001221 (Tokyo-Minatoku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of specialty chemicals

 

 

No. of Employees :

12

 

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 98.1 Million

Status :

Moderate

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 – September 30, 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 and address

 

ASIA ASSOCIATES INC

REGD NAME:    KK Asia Godo

MAIN OFFICE:  No. 1 Nan-Oh Bldg, 2-21-2 Nishi-Shimbashi Minatoku Tokyo 105-0003 JAPAN

Tel: 03-3432-4011      Fax: 03-3438-0687

                                               

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

E-Mail address: info@aaitokyo.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of specialty chemicals

 

BRANCHES   

 

Nil

 

OVERSEAS

 

Netherlands, Germany, Italy, China, India, Hong Kong, Australia, USA

 

 

OFFICERS

 

SHUNSUKE KUBO, PRES

Teiichi Yonekawa, s/mgn dir                                                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 5,326 M

PAYMENTS                  NO COMPLAINTS          CAPITAL           Yen 30 M

TREND             UP                                WORTH            Yen 422 M

STARTED                     1979                             EMPLOYES      12

 

COMMENT

 

TRADING FIRM SPECIALIIZING IN SPECIALTY CHEMICALS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 98.1 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established by Shunsuke Kubo jointly with Teiichi Yonekawa in order to make most of their experiences in the subject line of business.  This is a trading firm specializing in import, export and wholesale of specialty chemicals: paints & coatings, gel inks for ball point pens, fluorescent inks, semiconductors, resins, other.  Has sales offices & agents in Europe, China, India, USA, other.  Exports to China are reported robust.

 

 

FINANCIAL INFORMATION

           

            Financial are only partially disclosed.

 

The sales volume for Feb/2011 fiscal term amounted to Yen 5,326 million, a 22% up from Yen 4,379 million in the previous term.  The net profit was posted at Yen 23 million, compared with Yen 30 million a year ago.

 

            For the term that ended Feb 2012 the net profit was projected at Yen 25 million, on a 5% rise in turnover, to Yen 5,600 million.  Final results are yet to be released. 

 

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

 

 

REGISTRATION

 

Date Registered:  May 1978

Regd No.:         0104-01-001221 (Tokyo-Minatoku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         60,000 shares

Issued:                60,000 shares

Sum:                   Yen 30 million

Major shareholders (%): Shunsuke Kubo (100)

 

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

 

 

 

 

OPERATION

 

Activities: Imports, exports and wholesales industrial chemicals: paints & coatings, gel ink for ball point pens, fluorescent inks, semiconductors, synthetic resins, other (--100%)

 

Clients: [Mfrs, wholesalers] DIC, M&G Shanghai, Rotas Hong Kong, Hangzou Asia, Trisia GmbH, Asia Associates Inc Korea, Triconour Distribution BV, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [mfrs, wholesalers] Coamax Taiwan, Nihon Shokubai, Denka Kogyo Ind, other

 

Payment record: No Complaints

 

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

 

Bank References:

Mizuho Bank (Toranomon)

MUFG (Toranomon)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

29/02/2012

28/02/2011

28/02/2010

28/02/2009

Annual Sales

　

5,600

5,326

4,379

4,917

Recur. Profit

　

　

　

　

　

Net Profit

　

25

23

30

23

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

422

399

369

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.14

21.63

-10.94

20.93

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.45

0.43

0.69

0.47

 

Notes: Financials are only partially disclosed.

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

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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.