MIRA
INFORM REPORT
|
Report Date : |
21st
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
MARUTA
INDUSTRIES CO. LTD. |
|
|
|
|
Registered Office : |
167-2 Takabe-shimo Hashihama Imabari City
Ehime-Pref 799-2118 Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.06.2004 |
|
|
|
|
Date of Incorporation : |
July
1958 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer
of women’s slacks, long pants, jeans |
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 |
|
Maximum Credit Limit : |
Yen 13.9Million |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Company name
MARUTA INDUSTRIESCO LTD
REGD NAME
Maruta Sangyo KK
MAIN OFFICE
167-2 Takabe-shimo Hashihama Imabari City
Ehime-Pref 799-2118 JAPAN
Tel :
0898-41-9275
Fax :
0898-43-0689
URL : http://www.team-maruta.co.jp
E-Mail address : maruta@blue.ocn.ne.jp;
s.maruta@au.wak-wak.com (online
shop)
ACTIVITIES
Mfg of women’s slacks, long pants,
jeans
BRANCHES
Tokyo, Osaka (attached with store)
FACTORY(IES)
At the caption address
OFFICERS
SHOZO MARUTA, PRES
Tetsuro Abe, s/mgn dir
Yoko Abe, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 558 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND SLOW WORTH Yen 1,792 M
STARTED 1958 EMPLOYES 30
COMMENT
MFR SPECIALIZING IN WOMEN’S SLACKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 13.9MILLION, 30
DAYS NORMAL TERMS
Note:
Estimated figures for the 30/06/2006 fiscal term.
HIGHLIGHTS
The subject company was established
originally in 1951 by Michihiro Abe in order to wholesale women’s apparel, on
his account. In 1952, opened Osaka
Branch, followed by mfg factory at the caption address, and advanced into mfg
operations. Incorporated in 1958, the firm has been succeeded by his descendants. Shozo is the founder’s son, who took the
pres office in Oct1996. The subject firm, wholly owned by the Abe
family, specializes in mfg women’s slacks, long pants and jeans only, and no
other apparel goods. Goods are sold
online, too. In 1971, absorbed a
subsidiary shipping firm, Kuzushio Kaiun KK, which brings steady revenues. Full financials are available only
for the 30/06/2004 fiscal term, including the 30/06/2001
fiscal term.
FINANCIAL INFORMATION
The sales volume for Jun/2005 fiscal
term amounted to Yen 558 million, a 10% down from Yen 617 million in the
previous term. This is referred to the
harsher competition among the trade due to cheaper imports from S/E Asian
countries. The decreased sales in the
apparel division were to some extent compensated by steady revenues from
shipping operations but not fully, and sales declined. The net profit was posted at 178 million,
down 62% from Yen 481 million a year ago, hurt by the skyrocketing fuel oil
& materials prices for the shipping operation.
The net worth is only estimated at Yen
1,792 million, as calculated from the previous Yen 1,614 million.
For the term ended Jun 2006 the net
profit is estimated posted at Yen 175 million, on a 1.4% decline in turnover,
to Yen 550 million. Full financials (or
final results) have not been made available.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 13.9 million,
on 30 days normal terms.
REGISTRATION
Date Registered : Jul 1958
Legal Status : Limited Company (Kabushiki Kaisha)
Authorized : 144,000 shares
Issued :
97,960 shares
Sum :
Yen 48.98 million
Major shareholders (%)
Michihiro Abe (76) Shozo Abe &
families (--24)
No. of shareholders: 8
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Manufactures women’s
slacks, long pants and jeans; operates ships; office rental revenues (--100%).
Goods are retailed at Osaka Branch
(Store equipped) and sold online, too.
Clients
Local apparel stores, chain stores,
other
No. of accounts
Unavailable
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Marubeni Corp,
Moririn Co, Yamazaki Textile, Takubo Co, other.
Payment record
Regular
Location
Business area Imabari City,
Ehime-Pref. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Imabari)
114 Bank (Imabari)
Relations: Satisfactory
FINANCES
(Non-Consolidated in million yen)
|
|
|
Terms Ending: |
30/06/2004 |
30/06/2001 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
617 |
654 |
||
|
|
Cost of
Sales |
451 |
545 |
|||
|
|
GROSS PROFIT |
166 |
109 |
|||
|
|
Selling & Adm Costs |
171 |
203 |
|||
|
|
OPERATING PROFIT |
-4 |
-94 |
|||
|
|
Non-Operating P/L |
55 |
339 |
|||
|
|
RECURRING PROFIT |
50 |
246 |
|||
|
|
NET PROFIT |
481 |
63 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
395 |
90 |
||
|
|
Receivables |
|
140 |
179 |
||
|
|
Inventory |
|
175 |
300 |
||
|
|
Securities, Marketable |
|
|
|||
|
|
Other Current Assets |
11 |
51 |
|||
|
|
TOTAL CURRENT ASSETS |
721 |
620 |
|||
|
|
Property & Equipment |
890 |
970 |
|||
|
|
Intangibles |
|
1 |
|
||
|
|
Investments, Other Fixed Assets |
2,749 |
3,460 |
|||
|
|
TOTAL ASSETS |
4,361 |
5,050 |
|||
|
|
Payables |
|
117 |
133 |
||
|
|
Short-Term Bank Loans |
|
|
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
205 |
87 |
|||
|
|
TOTAL CURRENT LIABS |
322 |
220 |
|||
|
|
Debentures |
|
|
|
||
|
|
Long-Term Bank Loans |
2,098 |
3,000 |
|||
|
|
Reserve for Retirement Allw |
|
|
|||
|
|
Other Debts |
|
327 |
600 |
||
|
|
TOTAL LIABILITIES |
2,747 |
3,820 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Common stock |
48 |
49 |
|||
|
|
Additional paid-in capital |
|
|
|||
|
|
Retained earnings |
1,020 |
1,020 |
|||
|
|
Evaluation p/l on investments/securities |
|
|
|||
|
|
Others |
|
546 |
161 |
||
|
|
Treasury stock, at cost |
|
|
|||
|
|
TOTAL S/HOLDERS` EQUITY |
1,614 |
1,230 |
|||
|
|
TOTAL EQUITIES |
4,361 |
5,050 |
|||
|
ANALYTICAL RATIOS Terms ending: |
30/06/2004 |
30/06/2001 |
||||
|
|
|
Net Worth (S/Holders' Equity) |
1,614 |
1,230 |
||
|
|
|
Current Ratio (%) |
223.91 |
281.82 |
||
|
|
|
Net Worth Ratio (%) |
37.01 |
24.36 |
||
|
|
|
Recurring Profit Ratio (%) |
8.10 |
37.61 |
||
|
|
|
Net Profit Ratio (%) |
77.96 |
9.63 |
||
|
|
|
Return On Equity (%) |
29.80 |
5.12 |
||
Note:
Full financials are available only for the 30/06/2004 and 30/06/2001
fiscal terms.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|