MIRA
INFORM REPORT
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Report Date : |
30.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HOTANI CO LTD |
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Registered Office : |
1452 Todoroki Kiminocho Kaisogun Wakayama-Pref 489-5025 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
Dec 1973 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of industrial brush rolls, brush
mfg machines & equipment |
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 32.2 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
HOTANI CO LTD
REGD NAME
KK Hotani
MAIN OFFICE
1452 Todoroki Kiminocho Kaisogun Wakayama-Pref 489-5025 JAPAN
Tel : 073-489-2375
Fax : 073-489-5025
URL : http://www.hotani.co.jp
E-mail : info@hotani.co.jp
* Osaka Branch at: Shin-Osaka Ueno Toyo Bldg 2F, 7-4-17
Nishinakajima Yodogawaku Osaka, as given
ACTIVITIES
Mfg of industrial brush rolls, brush mfg machines & equipment
BRANCHES
Osaka, Yamaguchi; Shanghai (China)
FACTORY(IES)
Wakayama (adjacent to the caption address)
OFFICERS
Setsuo Hotani, ch AKIHIKO
HOTANI, PRES
Tomoko Hotani, dir Shigeru
Yachi, dir
Katsunori Hanamitsu, dir Shuichi
Seya, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,442 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 830 M
STARTED 1973 EMPLOYES 98
COMMENT
MFR SPECIALIZING IN INDUSTRIAL BRUSH ROLLS & BRUSH MFG
MACHINES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 32.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1963 by
Setsuo Hotani in order to process bristles, on his account. Incorporated in 1973, the firm started to
make industrial brushes. Akihiko is the
founder’s son. This is a specialized
mfr of industrial brush rolls, brush making machines & equipment. Established recycling system of brush rolls
in 2005. In 2006, merged with two
sister companies, Hotani Shoji Co Ltd & Hotani Kiko Ltd, to integrate and
streamline business operations. Goods
are exported.
FINANCIAL INFORMATION
The sales volume for Jun/2007 fiscal term amounted to Yen 2,442 million, a 16% hike from Yen 2,111 million in the previous term. This is thanks to the said merger of sister companies. The recurring profit jumped to Yen 240 million and the net profit posted at Yen 198 million, respectively, compared with Yen 19 million recurring profit and Yen 25 million net profit, respectively, a year ago.
For the current term ending Jun 2008 the recurring profit is
projected at Yen 250 million and the net profit at Yen 200 million,
respectively, on a 4% rise in turnover, to Yen 2,550 million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 32.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec
1973
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 81,500
shares
Sum: Yen
40.75 million
Major shareholders (%): Setsuo Hotani (30), Akihiko Hotani (19), Shuichi Sebata (12), Katsunori Hanamitsu (5)
No. of shareholders: 9
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures industrial brush rolls, brush mfg
machines & equipment (--100%)
(Mfg items):
Industrial brush
rolls: brush rolls for steel & nonferrous metals, brush rolls for special
industries;
(Brush
categories): cleaning brush, high grinding brush, de-scaling brush, special
specification brush, made-to-order brushes;
Brush mfg
machines: brushing equipment, spray electrolytic cleaning equipment, roll polisher
equipment, edge polisher equipment, wringer roll equipment, C-camber correction
equipment, full automatic roll changer, edge wiper equipment, water treatment
equipment, electricity control panels, others.
Clients: [Mfrs, steel mills] Nippon Steel, JFE Steel, O-Well
Corp, Nippon Steel & Sumikin Stainless Steel, Mitsui & Co, Kawasaki
Heavy Ind, Sumitomo Heavy Ind, Mitsubishi-Hitachi Metals Machinery, Shinsho Co,
Nihon Kenshi, Sumikin Bussan Matex, Hanwa Co, Osbourne International Group
(USA, England, Germany, Brazil, China), Nosas (Spain), Posco Int’l Group
(Korea), Hitachi Ltd, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Engineering Plastics,
Kuraray Co, Toyobo Co, Ube Ind, Asahi Kasei Co, Pacific Rundum, Daiwa Textile,
Hitachi Industrial Equipment Systems, N-Tech Co, Sanwa Ind, Fuji Shokai Co,
other.
Payment record: Regular
Location: Business area in Wakayama. Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Shoko Chukin Bank (Wakayama)
MUFG (Wakayama)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual Sales |
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2,550 |
2,442 |
2,111 |
2,085 |
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Recur. Profit |
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250 |
240 |
19 |
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Net Profit |
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200 |
198 |
25 |
67 |
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Total Assets |
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3,839 |
3,123 |
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Current Assets |
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1,466 |
852 |
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Current Liabs |
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868 |
767 |
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Net Worth |
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830 |
255 |
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Capital, Paid-Up |
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40 |
30 |
30 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.42 |
15.68 |
1.25 |
24.85 |
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Current Ratio |
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168.89 |
111.08 |
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N.Worth Ratio |
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21.62 |
8.17 |
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R.Profit/Sales |
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9.80 |
9.83 |
0.90 |
.. |
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N.Profit/Sales |
7.84 |
8.11 |
1.18 |
3.21 |
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Return On Equity |
.. |
23.86 |
9.80 |
.. |
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Notes: Forecast (or estimated) for the 30/06/2008 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. |
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%)