MIRA
INFORM REPORT
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Report Date : |
9th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AIKI SEISAKUSYO LTD |
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Registered Office : |
39 Inokuchikobando-cho Inazawa City Aichi-Pref
492-8162 Japan |
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Country : |
Japan |
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Financials (as on) : |
31/12/2006 (Estimated) |
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Date of Incorporation : |
Apr 1976 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturers of textile machines
& equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 8.7 MILLION |
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Status : |
Poor |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
NAME
AIKI
SEISAKUSYO LTD
REGD NAME
KK Aiki
Seisakusho
MAIN OFFICE
39
Inokuchikobando-cho Inazawa City Aichi-Pref 492-8162 JAPAN
Tel:
0587-21-9191
Fax:
0587-21-1277
URL: http://www.aiki-japan.com/
E-Mail address: info@aiki-japan.com
ACTIVITIES
Mfg of textile machines & equipment
BRANCHES
Tokyo, Osaka, Nagoya, Ehime, Fukuoka
OVERSEAS
(Sales agents): China (2), India, Iran, Korea (2), Syria, Taiwan,
Turkey, USA (2)
FACTORY(IES)
At the caption address
OFFICER(S)
HAJIME MATSUMOTO, PRES & CEO
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,063 M
PAYMENTS REGULAR CAPITAL Yen 188 M
TREND SLOW WORTH Yen 188 M*
STARTED 1976 EMPLOYES 23
*.. Financials are partially disclosed and from red inks for the
recent several terms we estimate the net
worth as equivalent to the paid-in capital.
COMMENT
MFR SPECIALIZING IN TEXTILE MACHINES. FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 8.7 MILLION, SECURED TERMS RECOMMENDED.
HIGHLIGHTS
The subject company was established father of Hajime Matsumoto in
order to make most of his experience in the subject line of business. Specializes in mfg textile machines &
equipment. Products are mostly exported
to S/E Asian countries centrally, also to USA and South America. Exports are through general trading houses. The textile market is slow to recover and
the firm has been obsessed with deficit operations for several years of
late. The financials are only partially
disclosed. No other databases have any
further information on the financials, either.
The sales volume for Dec/2005 fiscal term amounted to Yen 1,063
million, a 20% up from Yen 886 million in the previous term. Exports were benefited by weaker Yen against
foreign currencies. As a result, the
operations came back to profitability from the previous term’s net losses to
register Yen 27 million net profit for the term. The previous term posted Yen 64 million net loss.
For the current term ending Dec 2006 the net profit is projected
at Yen 27 million, on a 3% rise in turnover, to Yen 1,100 million.
The financial situation is considered RATHER WEAK to even WEAK but
should be good for MODERATE business engagements. Max credit limit is estimated at Yen 8.7 million, we recommending
on fully secured terms.
REGISTRATION
Date Registered: Apr
1976
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.5 million shares
Issued: 376,000 shares
Sum: Yen 188 million
Major shareholders (%): Hajime Matsumoto, other (Breakdown not
available)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures textile machines & equipment: air
texturing machines, air covering machines, complex draw texturizing machines,
yarn splitting machines, rewinders, soft winders, their parts & components
(--100%). Machines are mostly exported.
Clients: [Textile industry, wholesalers] Toray Ind, Itochu Corp,
Marubeni Corp, Teijin Ltd, other.
Exports to Taiwan, China, Korea, Canada, Mexico, India, Pakistan,
Indonesia, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] KK Meito, San’ai Koki, Katoh Hajime
Kozai, Tokai Shoji, other. Imports from
Korea, other.
Payment record: Regular
Location: Business area in Inazawa City, Aichi-Pre. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Gifu Bank (Kiyosu)
Bank of Tokyo-Mitsubishi UFJ (Ichinomiya)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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1,100 |
1,063 |
886 |
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Recur. Profit |
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.. |
.. |
.. |
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Net Profit |
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27 |
27 |
-64 |
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Total Assets |
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N/A |
N/A |
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Net Worth |
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188 |
161 |
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Capital, Paid-Up |
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188 |
188 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.48 |
19.98 |
-10.23 |
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
2.45 |
2.54 |
-7.22 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2006 fiscal term.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |