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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SORT CO LTD |
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Registered Office : |
Fujiyoshi Bldg
2F, 5-2-60 Nagatsuda Midoriku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April
1991 |
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Com. Reg. No.: |
0200-01-002155
(Yokohama-Midoriku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of industrial chemicals |
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No. of Employees : |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SORT CO LTD
KK Sort
Fujiyoshi Bldg 2F,
5-2-60 Nagatsuda Midoriku Yokohama 226-0027 JAPAN
Tel:
045-982-0180 Fax: 045-982-0377
E-Mail address: taro@kksort.com
Import,
wholesale of industrial chemicals
Nil
(subcontracted
– Taiwan, China, other)
REIKO
TANABE, PRES
Masataka
Tanabe, rep dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,254 M
PAYMENTSSlow but Correct CAPITAL Yen
10 M
TREND STEADY WORTH Yen 124 M
STARTED 1991 EMPLOYES 6
TRADING FIRM SPECIALIZING IN INDUSTRIAL CHEMICALS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: US$1,500,000.00 O/A 90 DAYS.
The subject company was established jointly by H Yamashita (former vice-
minister of International Trade & Commerce) and Tohru Seya (then consultant
of JETRO) in order to make most of their experience and networks in the subject
line of business. And has been
transferred to the present executives.
Newly organized, the firm started on business succession from Johnson
Chemical of urethane-based chemicals.
This is a family-based trading firm specializing in import and wholesale
of industrial chemicals: UV absorber (Eversorb), UV stabilizer, urethane
stabilizer, urethane adhesives, other.
In May 1998, started importing products from Shuang-Bang Industrial
Corp. In Jan 2000, became sole import
agent for Shuang-Bang Industrial, and in May that year accepted their capital
participation, owning 15% of the subject share.
In addition to import business, the firm is engaged in consignment
production of the products to Taiwan & Chinese factories.
Financials are only partially disclosed as from the Mar/2006
fiscal term.
The sales volume for Mar/2011 fiscal term amounted to Yen 1,254 million,
a 16% up from Yen 1,078 million in the previous term. UV-related products (Eversorb) grew,
according to the firm. Also OEM
production in Taiwan & China continued brisk, says the firm. The net profit was posted at Yen 52 million,
compared with Yen 44 million a year ago.
For the term that ended Mar 2012 the net profit was projected at Yen 55
million, on a 4% rise in turnover, to Yen 1,300 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. The proposed
amount for 90 days terms, however, is considered TOO HIGH from the recent
financial status.
Date Registered: Apr 1991
Regd No.: 0200-01-002155 (Yokohama-Midoriku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Masataka Tanabe (32.5), Reiko
Tanabe (27.5), Kumiko Sumiyoshi (25), Shuang-Bang Industrial Corp (Taiwan) (15)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales industrial chemicals: UV absorber (Eversorb), UV stabilizer, UV cure
adhesives, urethane stabilizer, urethane adhesives, plastics adhesives, other
(--100%).
(Import agent
for): Shuang-Bang Industrial Corp, Everlight Chemical (--Taiwan), other in
China.
Clients: [Mfrs,
wholesalers] OG Corp, BASF Coatings Japan, Ricoh Co, Heisen Yoko Co, T&K
Toka Co, JSR, Meisei Co, Toyo Ink & Chemicals, Bridgestone Corp, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Shuang-Bang Industrial Corp, Everlight chemicals (--Taiwan), Sanko
Ink, Insight High Technology, Koshin Chemical, other
Payment record: Slow but
Correct
Location: Business area in
Yokohama. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Bank of Yokohama (Nagatsuda)
SMBC (Aobadai)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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1,300 |
1,254 |
1,078 |
874 |
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Recur.
Profit |
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Net
Profit |
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55 |
52 |
44 |
22 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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124 |
88 |
58 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div
Ttl in Million¥ |
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2 |
2 |
2 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.67 |
16.33 |
23.34 |
3.31 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
4.23 |
4.15 |
4.08 |
2.52 |
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Notes: Financials are only partially disclosed as from the
Mar/2006 fiscal term.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
|
UK Pound |
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.