MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
HASHIMOTO CORPORATION |
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Registered Office : |
Sigma Yushima Bldg 2F, 3-37-4 Yushima Bunkyoku Tokyo 113-0034 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2006 |
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Date of Incorporation : |
Dec 1939 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of rubber hoses, conveyer belts, other
rubber products |
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 32.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NAME
HASHIMOTO CORPORATION
REGD NAME
KK Hashimoto
MAIN OFFICE
Sigma Yushima Bldg 2F, 3-37-4 Yushima Bunkyoku Tokyo 113-0034 JAPAN
Tel : 03-5807-3833
Fax : 03-5807-3844
URL : N/A
*.. The given address is its Sagamihara Branch Office at: 1-7-1
Takane Sagamihara
City Kanagawa-Pref, as given.
ACTIVITIES
Wholesale of rubber hoses, conveyer belts, other rubber products
BRANCHES
Sagamihara (as given), Shimotsuke (Tochigi), Abiko, Higashi-Yamato
OFFICERS
Osamu Yamada, ch MASAKATSU
HASHIMOTO, PRES
Kunio Nagata, mgn dir Toshi
Satoh, mgn dir
Tsutomu Fujino, mgn dir Tohru
Yamada, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,665 M
PAYMENTS REGULAR CAPITAL Yen
40 M
TREND STEADY WORTH Yen
266 M
STARTED 1939 EMPLOYES 59
COMMENT
WHOLESALER SPECIALIZING IN INDUSTRIAL RUBBER PRODUCTS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 32.7 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by a certain Hashimoto in
order to make most of his experience in the subject line of business. Masakatsu Hashimoto is the founder’s
son. This is a wholesaler of industrial
rubber products, such as hoses, conveyer belts, other. Operations
are centered in domestic markets.
Imports & exports are limited.
FINANCIAL INFORMATION
The sales volume for Apr/2006 fiscal term amounted to Yen 4,665 million, an 8% up from Yen 4,322 million in the previous term. Industrial activities revived with increased demand for industrial rubber products. The recurring profit was posted at Yen 311 million, up from Yen 194 million, while the net profit declined to Yen 28 million, sharply down from 189 million the previous year. The previous year’s profits included extraordinary incomes after registering Yen 175 million net losses for the Apr/2004 fiscal term.
For the current term ending Apr 2007 the net profit is
projected at Yen 30 million, on a 3% rise in turnover, to Yen 4,800
million. Steady demand continues.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 32.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1939
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.2
million shares
Issued: 800,000
shares
Sum: Yen
40 million
Major shareholders (%): Osamu
Yamada (25), Masakatsu Hashimoto (20), Sue Hashimoto (10). (% is all about)
No. of shareholders: 35
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Wholesales industrial rubber goods, such as rubber
hoses, rubber conveyer belts, other rubber products (--100%).
Imports & exports are mainly through general traders, with little
direct dealing.
Clients: [Mfrs, wholesalers] Amada Co, Aida Engineering, Topre
Corp, Komori Corp, Mitsubishi Heavy Ind, Komatsu Forklift, other.
No. of accounts: 700
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Yokohama Rubber, Higashinippon
Bando, Kurashiki Kako, Siegling Japan,
other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Asakusa)
Shoko Chukin Bank (Ueno)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/04/2007 |
30/04/2006 |
30/04/2005 |
30/04/2004 |
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Annual
Sales |
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4,800 |
4,665 |
4,322 |
3,928 |
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Recur.
Profit |
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311 |
194 |
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Net
Profit |
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30 |
28 |
189 |
-175 |
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Total
Assets |
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2,594 |
2,968 |
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Current
Assets |
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1,791 |
1,941 |
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Current
Liabs |
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1,560 |
1,590 |
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Net
Worth |
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266 |
242 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.89 |
7.94 |
10.03 |
10.77 |
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Current Ratio |
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.. |
114.81 |
122.08 |
.. |
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N.Worth Ratio |
.. |
10.25 |
8.15 |
.. |
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R.Profit/Sales |
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.. |
6.67 |
4.49 |
.. |
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N.Profit/Sales |
0.63 |
0.60 |
4.37 |
-4.46 |
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Return On Equity |
.. |
10.53 |
78.10 |
.. |
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Note: Forecast (or estimated) for the 30/04/2007 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%)