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Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SAN-A TRADING CO LTD |
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Registered Office : |
Yachiyo East Bldg 8F, Kita-1-21
Tenjimbashi-2 Kitaku Osaka 530-0041 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2013 |
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Date of Incorporation : |
February 1975 |
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Com. Reg. No.: |
1200-01-064492 |
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Legal Form : |
Limited Company |
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Line of Business : |
exporter of textile machines, new & second-hand,
their spare parts & components. |
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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 : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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 |
SAN-A TRADING CO LTD
KK San-A Trading
Yachiyo East Bldg
8F, Kita-1-21 Tenjimbashi-2 Kitaku Osaka 530-0041 JAPAN
Tel:
06-6351-7041 Fax: 06-6351-4037
URL: http://www.san-a-tr.co.jp
E-Mail address: info@san-a-tr.co.jp
Export
of textile machines and parts
Korea
Sam-A Trading Co Ltd (Seoul); Shanghai J&S Metallic Yarn Co Ltd; San-A
Trading Shanghai Office (--\
Shanghai);
San-A Trading Vietnam Office (Ho Chi Ming);
SEIJI
TAKEUCHI, PRES Tohru Yasui, dir
Jun’ichiro
Takeuchi, dir Hiroyuki
Yamada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 896 M
PAYMENTSSlow but Correct CAPITAL Yen 30 M
TREND SLOW WORTH Yen 18 M
STARTED 1975 EMPLOYES 6
EXPORTER OF TEXTILE MACHINES AND PARTS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Seiji Takeuchi in order to make
most of his experience in the subject line of business. A small-sized trading firm specializing in
exporting textile machines, new & second-hand, their spare parts &
components. Machines are supplied from
major textile machinery mfrs and shipped to worldwide destinations: China,
India, Indonesia, Vietnam, Korea, Philippines, USA, Mexico, other. Stressing on business operations in China,
where operating 2 offices. At Chinese
factories the firm manufactures metallic yarn for supply to Japanese apparel
industries.
The sales volume for Nov/2012 fiscal term amounted to Yen 896 million, a
5% down from Yen 945 million in the previous term. Exports were hurt by the high Yen, decreasing
earnings & profits in Yen terms. The
recurring profit was posted at Yen 8 million and the net profit at Yen 10
million, respectively, compared with Yen 1 million recurring profit and Yen 1
million net profit, respectively, a year ago.
For the term that ended Nov 2013 the recurring profit was projected at
Yen 10 and the net profit at Yen 2 million, respectively, on a 5% rise in
turnover, to Yen 940 million. Final
results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date Registered: Feb
1975
Regd No.: 1200-01-064492 (Osaka-Kitaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Seiji Takeuchi (22), Junichiro
Takeuchi (22), Nobuyoshi Hirata (2)
No. of shareholders: 12 (about)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports textile
machines, new & old, their parts & components (90%):
Weaving machines (rubber reducer, high speed gill, mixing gill); Textile
machines (loom for name labels, design system, rings, cylinder wires, rolling
strippers); Warp knitting machines, circular knitting machines, terry knitting
machines, knitting glove machines, other;
Imports metallic yarn (from China), tuna (from China and Asia), T-shirts
(from USA), bi cycles & bicycle racks (from China), other consumable goods
(--10%).
Clients: [Mfrs,
wholesalers] Exports to India, China, Vietnam, Taiwan, Hong Kong,
Korea, Thailand, Philippines, Pakistan, Mexico, Bangladesh, Indonesia, USA,
Canada,
other.
Domestic clients: Daizo Co, Fujiki Shoten, DAC Co, E-NA Co, GAMO Kansai,
etc.
No. of accounts: Unavailable
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Murata Machinery, Tamurakoma & Co, VPIC, Kuroiwa Knit Machine,
Mitsuwa Ind, TMT Machinery, Kanai Juyo Kogyo, Yoshida Kikai Kogyo, other. Imports from USA, Pakistan, China, Italy,
Turkey, other.
Payment record: Slow but
Correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Minami-Morimachi)
Bank of Nagoya (Osaka)
Relations: Satisfactory.
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual
Sales |
|
940 |
896 |
945 |
1,295 |
|
Recur.
Profit |
|
10 |
8 |
1 |
12 |
|
Net
Profit |
|
2 |
1 |
1 |
1 |
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Total
Assets |
|
|
255 |
393 |
392 |
|
Current
Assets |
|
|
124 |
233 |
233 |
|
Current
Liabs |
|
|
175 |
270 |
255 |
|
Net
Worth |
|
|
18 |
38 |
38 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.91 |
-5.19 |
-27.03 |
178.49 |
|
|
Current Ratio |
|
.. |
70.86 |
86.30 |
91.37 |
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N.Worth Ratio |
.. |
7.06 |
9.67 |
9.69 |
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R.Profit/Sales |
|
1.06 |
0.89 |
0.11 |
0.93 |
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N.Profit/Sales |
0.21 |
0.11 |
0.11 |
0.08 |
|
|
Return On Equity |
.. |
.. |
2.63 |
2.63 |
|
Note:
Forecast (or estimated) for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.84.82 |
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 |
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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 |
|
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 |
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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.