MIRA INFORM REPORT

 

 

Report Date :           

24.03.2012

 

IDENTIFICATION DETAILS

 

Name :

MINAMI TRADING CO LTD

 

 

Registered Office :

2-15-11 Katsuyama Tennojiku Osaka 543-0043

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1965

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Export of synthetic leather, fabrics, synthetic resins

 

 

No. of Employees :

03

 

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 4.5 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 – 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

 

MINAMI TRADING CO LTD

 

 

REGD NAME

 

Minami Boeki (Sole Proprietorship and not registered)

 

 

MAIN OFFICE

 

2-15-11 Katsuyama Tennojiku Osaka 543-0043 JAPAN

Tel: 06-6775-0551      Fax: 06-6775-0556

                                               

URL:                 N/A

 

 

ACTIVITIEs

 

Export of synthetic leather, fabrics, synthetic resins, other

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

TETSUO KITANAKA, PROPRIETOR                                                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        R/WEAK                       A/SALES          Yen 250 M

PAYMENTS      No Complaints          CAPITAL           - - -

TREND             SLOW                          WORTH            Yen 40 M

STARTED         1965                             EMPLOYES      3

 

COMMENT    

 

EXPORTER OF SYNTHETIC LEATHER, SYNTHETIC RESINS.

 

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

                       

MAX CREDIT LIMIT: YEN 4.5 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHS

           

This is a sole proprietorship owned and operated by Tetsuo Kitanaka.  Specializes in exporting synthetic leather, synthetic resins, fabrics, other.  Exports to India, Myanmar, Sri Lanka, New Zealand, Philippines, other.

 

 

FINANCIAL INFORMATION

           

Financial are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 250 million, a similar amount in the previous term.  Export revenues and profits were hurt by the high Yen in Yen terms.  The net profit was posted at Yen 1 million, similarly in the previous term.

 

For the term that ended Dec 2011 the net profit was projected at Yen 1 million, on a 4% rise in turnover, to Yen 260 million.  Final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 4.5 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Not registered

(Founded 1965)

Legal Status:      Sole Proprietorship

 

*.. This is a sole proprietorship, owned and operated by Tetsuo Kitanaka.  The net worth is estimated at Yen 40 million, which derived from his past savings.

           

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: A trading firm for exporting synthetic leather, synthetic resins, fabrics, other (--100%)

 

Clients: [Mfrs, wholesalers] Exports to India, Philippines, Myanmar, Syria, Sri Lanka, New Zealand, Jordan, other

            No. of accounts: Unavailable

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Mitsui & Co, Arakawa Chemical Ind, Marubeni Corp, Shinnihon Chemicals Corp, other

 

Payment record: No Complaints

 

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

 

Bank References:

SMBC (Namba)

Kinki Osaka Bank (Tsuruhashi)

Relations: Money deposits & transfers only

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

260

250

250

360

Recur. Profit

　

　

　

　

　

Net Profit

　

1

1

1

3

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

40

39

38

Capital, Paid-Up

　

　

 

 

 

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.00

0.00

-30.56

-5.26

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.38

0.40

0.40

0.83

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.91

UK Pound

1

Rs.80.77

Euro

1

Rs.67.40

 

 

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.