MIRA INFORM REPORT

 

 

Report Date :

05.06.2014

 

IDENTIFICATION DETAILS

 

Name :

SANYO TRADING CO LTD

 

 

Registered Office :

2-11 Kanda-Nishikicho Chiyodaku Tokyo 101-0054

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

May 1947

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Importer, Exporter and Wholesaler of rubber, chemicals, machinery, other

 

 

No of Employees :

252

 

 

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:

 

SANYO TRADING CO LTD

 

 

REGD NAME:  

 

Sanyo Boeki KK

 

 

MAIN OFFICE: 

 

2-11 Kanda-Nishikicho Chiyodaku Tokyo 101-0054 JAPAN

Tel: 03-3518-1111     Fax: 03-3518-1230     -

 

URL:                 http://www.sanyo-trading.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES:    

 

Import, export, wholesale of rubber, chemicals, machinery, other

 

 

BRANCHES:    

 

Osaka, Nagoya

 

 

OVERSEAS:    

 

USA (2), China (3), Hong Kong, Thailand, Vietnam, India, Mexico

 

 

CHIEF EXEC:  

 

MASAAKI MASUTOMO, PRES

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY:     

 

FINANCES        FAIR                             A/SALES          Yen 51,075 M

PAYMENTSNO COMPLAINTS    CAPITAL           Yen 1,006 M

TREND UP                                WORTH            Yen 15,338 M

STARTED         1947                             EMPLOYES      252

 

 

 

COMMENT:     

 

TRADING FIRM SPECIALIZING IN RUBBER & CHEMICALS 

FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

                       

Business

Terms Ending

Annual Sales*

R.Profit*

N.Profit*

S.Growth

Net Worth*

   Results:

30/09/2010

47,463

2,084

814

(%)

10,445

(Consolidated)

30/09/2011

48,790

2,292

1,020

2.80

11,219

30/09/2012

48,070

2,366

1,137

-1.48

12,172

30/09/2013

51,075

2,772

1,475

6.25

15,338

30/09/2014

57,000

3,200

1,800

11.60

..

Unit: In Million Yen

Forecast figures for the 30/09/2014 fiscal term.

 

 

HIGHLIGHTS:

 

This is a tie-honored trading house founded in 1947.  Involved in imports and exports of rubber, chemicals, machinery and materials.  Highly competitive in dealing in those of car interiors and .OA materials.  Has extensive sales network in Asia.  Sales personnel with technical background accounts for 40%.  The subsidiary in Mexico will start sales activities, selling products such as automobile materials and rubber to local Japanese automakers.  The company is eager to advance into the Central and South America market in the future, using the subsidiary as a hub.  The company was stepped up to TSE 1st section in Oct 2013.

 

 

FINANCIAL INFORMATION:

 

The sales volume for Sept/2013 fiscal term amounted to Yen 51,075 million, a 6.3% up from Yen 48,070 million in the previous term.   The recurring profit was posted at Yen 2,772 million and the net profit at Yen 1,475 million, respectively, compared with Yen 2,366 million recurring profit and Yen 1,137 million net profit, respectively, a year ago. 

           

For the current term ending Sept 2014 the recurring profit is projected at Yen 3,200 million and the net profit at Yen 1,800 million, on a 12% rise in turnover, to Yen 57,000 million.  Sales of rubber, chemicals and machinery materials to mainstay automakers will drive growth.  Impact from the tension between Japan & China last term will be absent, and earnings at the subsidiary in China will also recover.   

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 2,203.1 million, on 30 days normal terms.

 

 

REGISTRATION:

 

Date Registered:　       May 1947

Legal Status:                Limited Company (Kabushiki Kaisha

Authorized:                  40 million shares

Issued:                         14,503,854 shares

Sum:                            Yen 1,006 million

 

 

Major shareholders (%): Toagosei Co (5.1), Sompo Japan Ins (4.4), Susumu Tamaki (3.9), MUFG (3.9), SMBC (3.9), BOT Lease (3.8), Mitsui Sumitomo ins (3.6), CGMLIPB Customer Collateral (2.4), Meiji Yasuda Life Ins (2.3); foreign owners (4.3)

 

No. of shareholders: 3,595

 

Listed on the S/Exchange (s) of: Tokyo

 

Managements: Masaaki Masumoto, pres; Yoshimasa Matsumoto, advisor, Jutaro Suzuki, dir; Masanobu Shintani, dir

 

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

 

Related companies: COA, Sanyo Machinery Ind, Cosmos Trading, other.

 

 

OPERATION:

 

Activities: Imports, exports and wholesales: rubber & chemicals (44%), Machinery & materials (24%), overseas subsidiaries (18%), domestic subsidiaries (12%)

Overseas Sales Ratio (34%)

           

Clients: [Mfrs, wholesalers] LEXIL, KYB, Sanyo Corporation of America, Tokai Rubber

Ind, Toyota Boshoku Corp, other

              No. of accounts: 1,000

              Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Daiso Sangyo, Japan Composite Co, Toray, Dow Corning,

                 Gunze Corp, Lion Corp, other

 

Payment record: No Complaints

 

 

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

 

Bank References:

                        MUFG (H/O)

                        SMBC (Kanda)

                        Relations: Satisfactory

 

 

FINANCES (In Million Yen)

 

FINANCES: (Consolidated in million yen)

　

　

Terms Ending:

30/09/2013

30/09/2012

INCOME STATEMENT

  Annual Sales

　

51,075

48,070

  Cost of Sales

43,403

40,609

      GROSS PROFIT

7,671

7,460

  Selling & Adm Costs

5,230

5,211

      OPERATING PROFIT

2,440

2,249

  Non-Operating P/L

332

117

      RECURRING PROFIT

2,772

2,366

　

      NET PROFIT

1,475

1,137

BALANCE SHEET

  Cash

　

1,818

1,739

  Receivables

11,958

11,674

  Inventory

5,197

4,675

  Securities, Marketable

　

　

  Other Current Assets

1,065

652

      TOTAL CURRENT ASSETS

20,038

18,740

  Property & Equipment

2,100

2,065

  Intangibles

72

231

  Investments, Other Fixed Assets

2,971

2,168

      TOTAL ASSETS

25,181

23,204

  Payables

6,699

6,181

  Short-Term Bank Loans

730

1,707

　

　

　

  Other Current Liabs

1,263

2,126

      TOTAL CURRENT LIABS

8,692

10,014

  Debentures

　

　

  Long-Term Bank Loans

50

50

  Reserve for Retirement Allw

544

512

  Other Debts

　

556

456

      TOTAL LIABILITIES

9,842

11,032

      MINORITY INTERESTS

Common stock

1,006

638

Additional paid-in capital

428

　

Retained earnings

12,908

11,937

Evaluation p/l on investments/securities

556

(221)

Others

449

96

Treasury stock, at cost

(9)

(278)

      TOTAL S/HOLDERS` EQUITY

15,338

12,172

　

      TOTAL EQUITIES

25,181

23,204

CONSOLIDATED CASH FLOWS

Terms ending:

30/09/2013

30/09/2012

Cash Flows from Operating Activities

　

1,211

60

Cash Flows from Investment Activities

-228

-348

Cash Flows from Financing Activities

-961

-290

　

Cash, Bank Deposits at the Term End

　

1,815

1,721

ANALYTICAL RATIOS            Terms ending:

30/09/2013

30/09/2012

Net Worth (S/Holders' Equity)

15,338

12,172

Current Ratio (%)

230.53

187.14

Net Worth Ratio (%)

60.91

52.46

Recurring Profit Ratio (%)

5.43

4.92

Net Profit Ratio (%)

2.89

2.37

Return On Equity (%)

9.62

9.34

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

 

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.