MIRA
INFORM REPORT
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Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
OTANI TRADING LTD |
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Registered Office : |
463 Oyachi Niigata 950-0814 |
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Country : |
Japan |
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Date of Incorporation : |
Mar 1950 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesales machine tools, import of
cut flowers |
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 68 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
OTANI TRADING LTD
REGD NAME
KK Otani Shokai
MAIN OFFICE
463 Oyachi Niigata 950-0814 JAPAN
Tel: 025-274-7111
Fax: 025-274-7112
URL : http://www.otani-shokai.com
E-Mail address: flowers@otani.biz
Trading division at: 245-2925 Kawakami Narita Chiba-Pref, as
given
ACTIVITIES
Wholesales machine tools, import of cut flowers
BRANCHES
Sakata (Yamagata), Joetsu (Niigata)
OFFICERS
Masao Otani, ch Aiko Otani, v ch
ALBERT WETZLER, PRES Taro
Otani, s/mgn dir
Masako Otani, mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,778 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND SLOW WORTH Yen 660 M
STARTED 1950 EMPLOYES 76
COMMENT
MEDIUM-SIZED WHOLESALER SPECIALIZING IN MACHINE TOOLS, ALSO IMPORTS CUT FLOWERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 68 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Shozo Otani originally
in 1923 on his account. Masao is the founder’s son. Specializes in wholesale of machine tools,
pipes, measuring instruments. Also,
executes installation works for elevators and conveyers. In 1997, advanced into import and wholesale
of cut flowers as the international division with Albert Wetzler starting the
imports. Cut flowers are imported from
Australia, China, Italy, Netherlands, South Africa, other.
FINANCIAL INFORMATION
The sales volume for Jan/2006 fiscal term amounted to Yen 3,778 million, a 2% down from Yen 3,869 million in the previous term. The recurring profit was posted at Yen 43 million and the net profit at Yen 27 million, respectively, compared with Yen 27 million recurring profit and Yen 39 million net profit, respectively, a year ago.
For the term ended Jan 2007 the net profit was projected and
believed posted at Yen 28 million, on a similar turnover, at Yen 3,800
million. Final results are yet to be
publicized.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 68 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar
1950
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 45
million shares
Issued: 900,000
shares
Sum: Yen
45 million
Major shareholders (%): Masao Otani (35) & families (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Wholesales machine tools, pipes, measuring
instruments (--60%), installation works of elevators, conveyers, others
(--25%); imports and wholesales cut flowers (--15%).
Clients: [Municipalities, mfrs] Niigata City Office, Niigata Prefectural Office, Tohoku Electric Power, Mitsubishi Gas Chemical, Nippon Soda, other. Also local flower markets.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, dealers] Nihon Hoist, Kitz Corp, Toyo Valve, Sumitomo
Heavy Ind, other. Imports cut flowers
from Australia, China, Italy, Netherlands, South Africa, etc.
Payment record: Regular
Location: Business area in Niigata. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Daishi Bank (Ogata)
MUFG (Niigata)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual
Sales |
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3,800 |
3,778 |
3,869 |
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Recur.
Profit |
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43 |
27 |
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Net
Profit |
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28 |
28 |
39 |
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Total
Assets |
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2,455 |
2,492 |
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Current
Assets |
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1,227 |
1,288 |
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Current
Liabs |
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471 |
497 |
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Net
Worth |
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660 |
652 |
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Capital,
Paid-Up |
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45 |
45 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.58 |
-2.35 |
6.50 |
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Current Ratio |
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.. |
260.51 |
259.15 |
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N.Worth Ratio |
.. |
26.88 |
26.16 |
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R.Profit/Sales |
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.. |
1.14 |
0.70 |
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N.Profit/Sales |
0.74 |
0.74 |
1.01 |
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Return On Equity |
.. |
4.24 |
5.98 |
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Note: Forecast (or estimated) for the 31/01/2007 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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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%)