MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
THERMO PACKAGE CO LTD |
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Registered Office : |
714-5 Matsunaga Numazu City Shizuoka-Pref
410-0874 |
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Country : |
Japan |
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Date of Incorporation : |
1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of plastic garbage bags
& films. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 15 millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
THERMO PACKAGE CO LTD
REGD NAME
Thermo Hoso KK (Hoso means packages)
MAIN OFFICE
714-5 Matsunaga Numazu City Shizuoka-Pref 410-0874 JAPAN
Tel : 055-922-0535
Fax : 055-922-4662
URL : http://www.thermopack.co.jp/
E-Mail address: mail@thermopack.co.jp
ACTIVITIES
Mfg of plastic garbage bags & films
BRANCHES
Nil
FACTORY(IES)
At the caption address
OFFICERS
Shigeo Kawamura, ch
TADAHIKO KAWAMURA, PRES
Shigeko Kawamura dir
Yen Amount : In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 840 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 100 M
STARTED 1961 EMPLOYES 35
COMMENT
MFR SPECIALIZING IN PLASTIC GARBAGE FILM & BAGS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$300,000 / O/A 60 DAYS.
MAX CREDIT LIMIT: YEN 15 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shigeo Kawamura in order to make most of his experience in the subject line of business. Tadahiko is the founder’s son, who took the pres office in May 1992. The firm is wholly owned and operated by the Kawamura family and specializes in mfg plastic garbage films & bags for household-use and for commercial-use. Due to stricter regulations by local municipalities for garbage & refuse disposal, uniform & standard- sized plastic disposal bags & films are much in demand. Clients include major super markets, chain stores, other. Operations are extended into Kanagawa-Pref and vicinities. The financials are only partially disclosed.
FINANCIAL INFORMATION
The sales volume for Jul/2005 fiscal term amounted to Yen 840 million, a 2% up from Yen 820 million in the previous term. Regulated size/quality disposal bags are being much in demand. Commercial-use bags also fared well. The net profit was posted at Yen 6 million, up from Yen 5 million a year ago.
For the term ended Jul 2006 the net profit is believed posted at Yen 6 million, on a 2% rise in turnover, to Yen 860 million. Business continues steadily on the upswing.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 15 million, on 30 days normal terms. The proposed amount for O/A 60 days is considered within the firm’s financial capabilities.
REGISTRATION
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Date
Registered |
Dec
1961 |
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Legal
Status |
Limited
Company (Kabushiki Kaisha) |
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Authorized |
80,000
shares |
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Issued |
20,000
shares |
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Sum |
Yen
10 million |
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Major
shareholders (%) |
Shigeo
Kawamura (40), Tadahiko Kawamura (25) |
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No.
of shareholders |
5 |
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Nothing
detrimental is known as to the commercial morality of executives. |
OPERATION
Activities: Manufactures plastic garbage disposal films & bags for household-use (50%), for commercial-use (40%); wholesale of packaging equipment & supplies (10%).
Goods are also manufactured by a subsidiary maker, Thermo KK.
Clients
[Chain stores, supermarkets, wholesalers] Ito-Yokado, Seven-Eleven
Japan, NBS, Encho Co, Chari
Co, other.
No. of accounts: 700
Domestic areas of activities: Centered in Shizuoka-Pref and
vicinities.
Suppliers
[Mfrs, wholesalers] Thermo KK (subsidiary mfr) (25%), Aicello
Chemical, Okura Ind, J-Film Corp,
other.
Payment record: Regular
Location
Business area in Numazu City, adjacent to Shizuoka City. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Shimizu Bank (Numazu)
Shizuoka Bank (Numazu-Eki-Kita)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual Sales |
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860 |
840 |
820 |
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Recur. Profit |
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.. |
.. |
.. |
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Net Profit |
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6 |
6 |
5 |
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Total Assets |
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N/A |
N/A |
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Net Worth |
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100 |
95 |
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Capital, Paid-Up |
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10 |
10 |
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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 |
2.38 |
2.44 |
-5.53 |
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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 |
0.70 |
0.71 |
0.61 |
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Notes: Financials are not disclosed only except the above partial figures.
Forecast (or estimated) figures for 31/07/2006 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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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