MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

UNIVERSL TRADING CO LTD

 

 

Registered Office :

6-16-63 Tsujido Fujisawa Kanagawa-Pref 251-0047

 

 

Country :

Japan

 

 

Financials (as on) :

30.11.2012

 

 

Date of Incorporation :

January 1970

 

 

Com. Reg. No.:

0210-01-002345

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of aircraft components & parts

 

 

No. of Employees :

14

 

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 :

Slow

Litigation :

Clear

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

JAPAN - ECONOMIC OVERVIEW

 

In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy

Source : CIA

Company name and address

 

UNIVERSL TRADING CO LTD

 

REGD NAME:   KK Universal Shoji

MAIN OFFICE:  6-16-63 Tsujido Fujisawa Kanagawa-Pref 251-0047 JAPAN

                        Tel: 0466-34-6210     

Fax: 0466-35-5621

 

URL:                 N/

 

 

ACTIVITIES  

 

Import, wholesale of aircraft components & parts

 

 

BRANCHES

 

Nagoya

 

 

OFFICERS

 

AKINOBU SAKURAI, PRES

Hideaki Sakurai, v pres

Rumiko Sakurai, dir       

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 484 M

PAYMENTS      SLOW BUT CORRECT   CAPITAL           Yen 10 M

TREND             SLOW                           WORTH            Yen 338 M

STARTED         1970                             EMPLOYES      14

 

 

COMMENT    

 

TRADING FIRM SPEICALIIZNG IN AIRCRAFT COMPONENTS & PARTS.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Akinobu Sakurai in order to make most of his experience in the subject line of business.  This is a family-based trading firm specializing in import and wholesale of aircraft components & parts.  Goods are imported and supplied to heavy machinery mfrs, who produces aircrafts, other.  Nothing detrimental is known in the market about what is described in the order report.  No military or government relatives, either.

 

 

FINANCIAL INFORMATION

           

The sales volume for Nov/2012 fiscal term amounted to Yen 484 million, a 23% down from Yen 631 million in the previous term.  Demand decreased.  The operations plunged into the red to post Yen 6 million recurring loss and Yen 7 million net losses, respectively, compared with Yen 3 million recurring profit and Yen 3 million net profit, respectively, a year ago.

 

For the current term ending Nov 2013 the operations are projected to come back to profitability to post Yen 3 million recurring profit and Yen 3 million net profit, respectively, on a 3% rise in turnover, to Yen 500 million. 

 

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

 

REGISTRATION

 

Date Registered:           Jan 1970

Regd No.:                                 0210-01-002345 (Kanagawaku-Fujisawa)

Legal Status:                Limited Company (Kabushiki Kaisha)

Authorized:                  80,000 shares

Issued:                         20,000 shares

Sum:                            Yen 10 million

Major shareholders (%): Company’s Treasury Stock (40), Hideaki Sakurai (25), Akinobu Sakurai (15)

No. of shareholders: 7

 

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

 

 

OPERATION

           

Activities: Imports and wholesales aircraft components, parts, accessories (--100%)

 

Clients: [Mfrs, wholesalers] Mitsubishi Heavy Ind, Fuji Heavy Ind, Kawasaki Heavy Ind, IHI Corp, Shinfonia Technology Co, Shimadz Corp, Nabtesco Corp, Kanto Aircraft Instruments Co, other 

No. of accounts: 50

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Air Electronics Co, Pacific Air Logistic, Mal Parts LLC, other

 

Payment record: Slow

 

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

 

Bank References:         Mizuho Bank (Fujisawa)

                                    Bank of Yokohama (Tsujido)

                                    Relations: Satisfactory

 

 

FINANCES

 

 (In Million Yen)

 

       Terms Ending:

30/11/2013

30/11/2012

30/11/2011

30/11/2010

Annual Sales

　

500

484

631

560

Recur. Profit

　

3

-6

3

　

Net Profit

　

3

-7

3

2

Total Assets

　

　

596

614

676

Current Assets

　

　

367

384

367

Current Liabs

　

　

258

269

258

Net Worth

　

　

338

345

338

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.31

-23.30

12.68

-41.67

    Current Ratio

 

..

142.25

142.75

142.25

    N.Worth Ratio

..

56.71

56.19

50.00

    R.Profit/Sales

 

0.60

-1.24

0.48

..

    N.Profit/Sales

0.60

-1.45

0.48

0.36

    Return On Equity

..

-2.07

0.87

0.59

 

Notes: Forecast (or estimated) figures for the 30/11/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.