MIRA INFORM REPORT

 

 

Report Date :

08.02.2014

 

IDENTIFICATION DETAILS

 

Name :

SHOWA METAL CO LTD

 

 

Registered Office :

6-26 Higashi-Ohgishima Kawasakiku Kawasaki Kanagawa-Pref 210-0869

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

October 1990

 

 

Com. Reg. No.:

0200-01-073153

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Imports, exports, sales, processing & cutting of nickel, cobalt, molybdenum, titanium and other rare metals in both bare metal & scrap forms

 

 

No. of Employees :

70

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

COMPANY NAME AND ADDRESS

 

SHOWA METAL CO LTD

 

REGD NAME:    Showa Metal KK

MAIN OFFICE:  6-26 Higashi-Ohgishima Kawasakiku Kawasaki Kanagawa-Pref 210-0869

JAPAN

                        Tel: 044-277-1431     

                        Fax: 044-277-1432

 

URL:                 http://www.sk-showa.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES     

 

Metal recycling

 

 

BRANCHES     

 

Niigata, Osaka

 

 

FACTORIES     

 

Niigata, subcontracted

 

 

OFFICERS       

 

TAKESHI YOSHIOKA, PRES     Yoshio Yamazaki, dir

Morimichi Iwamura, dir                Akihiko Ogasawara, dir

Tomoo Deliba, dir                       Kenichi Nakanishi, dir    

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY       

 

FINANCES                    FAIR                             A/SALES          Yen 8,374 M

PAYMENTS      SLOW BUT CORRECT   CAPITAL           Yen 20 M

TREND             SLOW                          WORTH            Yen 3,802 M

STARTED                     1990                             EMPLOYES      70

 

 

COMMENT      

 

RARE METAL RECYCLING.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

HIGHLIGHTS

           

The subject company was established by father of Takeshi Yoshioka in order to make most of his experience in the subject line of business.  This is a metal recycler specializing in metal alloys & rare metals (See OPERATION).  In Apr 2010 went into business integration with Hanwa Co Ltd.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2013 fiscal term amounted to Yen 8,374 million, a 28% sharp decline from Yen 11,651 million in the previous term.  This is referred to the sharp decline of nickel prices.  Posted recurring loss at Yen 89 million, but resulted in Yen 61 million net profit, compared with Yen 126 million recurring profit and Yen 81 million net profit, respectively, a year ago.

 

For the current term ending Mar 2014 the recurring profit is projected at Yen 95 million and the net profit at Yen 65 million, respectively, on a 5% rise in turnover, to Yen 8,750 million.   

 

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

 

 

REGISTRATION

 

Date Registered:          Oct 1990

Regd No.:                                 0200-01-073153 (Kawasaki-Kawasakiku)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  1,600 shares

Issued:                         400 shares

Sum:                             Yen 20 million

 

Major shareholders (%): Hanwa Co Ltd* (51), Kazuo Ueno (49)

No. of shareholders: 2

 

*.. Time-honored trader specializing in steel products, Osaka, founded 1947, listed Tokyo S/E, capital Yen 45,651 million, sales Yen 1,511,324 million, operating profit Yen 12,491 million, recurring profit Yen 8,871 million, net profit Yen 4720 million, total assets Yen 576,438 million, net worth Yen 127,757 million, employees 2,566, pres Hironari Furukawa

 

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

 

 

OPERATION

           

Activities: Imports, exports, sales, processing & cutting of nickel, cobalt, molybdenum, titanium and other rare metals in both bare metal & scrap forms, other (--100%)

 

Clients: [Mfrs, wholesalers] IHI Master Metal, Hanwa Co, Nippon Metal Ind, Sanyo Special Metal Ind, Nippon Steel & Sumikin Stainless Ind, other 

No. of accounts: 300

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Advanced Material Japan, Hanwa Co, Toho Titanium, Hitachi Metal, Million Ferro Alloys, other

 

Payment record: Slow but correct

 

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

 

Bank References:        Resona Bank (Kawasaki)

                                    Mizuho Bank (Kawasaki)

                                    Relations: Satisfactory

 

FINANCES

 

 (In Million Yen)

       Terms Ending:

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

8,750

8,374

11,651

11,084

Recur. Profit

　

95

-89

126

　

Net Profit

　

65

61

81

496

Total Assets

　

　

9,364

9,536

8,880

Current Assets

　

　

6,867

6,998

　

Current Liabs

　

　

5,536

5,320

　

Net Worth

　

　

3,802

3,786

3,779

Capital, Paid-Up

　

　

20

20

20

Div.Ttl in Million (¥)

　

　

45

74

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.49

-28.13

5.12

158.91

    Current Ratio

 

..

124.04

131.54

..

    N.Worth Ratio

..

40.60

39.70

42.56

    R.Profit/Sales

 

1.09

-1.06

1.08

..

    N.Profit/Sales

0.74

0.73

0.70

4.47

    Return On Equity

..

1.60

2.14

13.13

 

Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.

 

 

 

 

 

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.