MIRA INFORM REPORT

 

 

Report Date :

14.09.2012

 

IDENTIFICATION DETAILS

 

Name :

PROSTAR INC

 

 

Registered Office :

22-3 Funahashicho Nara 630-8258

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

January 1985

 

 

Com. Reg. No.:

1500-01-002894 (Nara-Nara)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Export of metallic yarns

 

 

No. of Employees :

4

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

PROSTAR INC

REGD NAME:    KK Prostar

MAIN OFFICE:  22-3 Funahashicho Nara 630-8258 JAPAN

Tel: 0742-24-8851      Fax: 0742-24-8853

                                               

URL:                 N/A

 

 

ACTIVITIES

 

Export of metallic yarns

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

NORIKAZU TERAURA, PRES

Hideo Akashi, dir

Kumiko Sakamoto, dir                                                   

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 534 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 11 M

TREND UP                                WORTH            Yen 47 M

STARTED         1985                             EMPLOYES      4

 

 

COMMENT    

 

EXPORTER OF METALLIC YARNS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Norikazu Teraura in order to make most of his experience in the subject line of business.  This is a trading firm for exporting metallic yarns.  Goods are exported to China, S/E Asia, Europe, other.

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2010 fiscal term amounted to Yen 534 million, an 11% up from Yen 483 million in the previous term.  Exports to Chinese makers rose, particularly for Japanese-owned subsidiaries.  The recurring profit was posted at Yen 3 million and the net profit at Yen 1 million, respectively, compared with Yen 3 million recurring profit and Yen 2 million net profit, respectively, a year ago.

 

For the term that ended Dec 2011 the recurring profit was projected at Yen 5 million and the net profit at Yen 3 million, respectively, on a 5% rise in turnover, to Yen 560 million.  Exports continued to increase.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Jan 1985

Regd No.:         1500-01-002894 (Nara-Nara)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         92,000 shares

Issued:                23,000 shares

Sum:                   Yen 11.5 million

Major shareholders (%): Norikazu Teresina (48), other

No. of shareholders: 6

 

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

 

 

OPERATION

           

Activities: Exports metallic yarns, others (100%)

 

Clients: [Mfrs, wholesalers] Exports to China, France, UK, S/E Asia, other

Domestically: GSI Creos Corp, other

No. of accounts: Unavailable

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] GSI Creos Corp, MRD, Saichi Ind, Fujiyama Sangyo, other.  Partially imports from Taiwan

 

Payment record: No Complaints

 

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

 

Bank References:

Nanto Bank (H/O)

MUFG (Nara)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

560

534

483

565

Recur. Profit

　

5

3

3

　

Net Profit

　

3

1

2

2

Total Assets

　

　

251

253

249

Current Assets

　

　

207

230

　

Current Liabs

　

　

117

103

　

Net Worth

　

　

47

46

44

Capital, Paid-Up

　

　

11

11

11

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.87

10.56

-14.51

-14.26

    Current Ratio

 

..

176.92

223.30

..

    N.Worth Ratio

..

18.73

18.18

17.67

    R.Profit/Sales

 

0.89

0.56

0.62

..

    N.Profit/Sales

0.54

0.19

0.41

0.35

    Return On Equity

..

2.13

4.35

4.55

 

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

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.44

UK Pound

1

Rs.89.31

Euro

1

Rs.71.62

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.