MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
IMEX CO LTD |
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Registered Office : |
11-25 Daikancho Hiratsuka Kanagawa-Pref 254-0807 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Jul 1982 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of toners, cartridges
for copiers, printers, Fax machines |
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 206.3 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name
IMEX CO LTD
REGD NAME
KK Aimekkusu
MAIN OFFICE
11-25 Daikancho Hiratsuka Kanagawa-Pref 254-0807 JAPAN
Tel : 0463-23-0591
Fax : 0463-23-5658
URL : http://www.imex.net.co.jp
E-mail :
info@imex.net.co.jp
ACTIVITIES
Mfg of toners, cartridges for copiers, printers, Fax
machines
BRANCHES
Okayama
OVERSEAS
Imex America Corp (USA); Imex EU Trading SRL (Spain)
(--subsidiaries)
FACTORY(IES)
Okayama; Oregon (USA)
OFFICERS
AKIRA KITAOKA, PRES Arifumi
Morita, mgn dir
Yuichiro Kitaoka, dir Toshimitsu
Hayashi, dir
Takayoshi O’mi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,023 M
PAYMENTS REGULAR CAPITAL Yen 384 M
TREND STEADY WORTH Yen 3,386 M
STARTED 1982 EMPLOYES 105
COMMENT
MFR
SPECIALIZING IN TONERS & CARTRIDGES FOR COPYING MACHINES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 206.3 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established by Akira Kitaoka in order
to make most of his experience in the subject line of business. This is a specialized mfr focusing on toners
& cartridges for copying machines, Fax machines & laser printers. This includes recycled cartridges. Goods are exported to USA and Europe through
two subsidiaries in USA and Spain.
Demand is reportedly increasing for re-use cartridges.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 7,023 million, a 15% up from Yen 6,128 million in the previous term. Exports were brisk. Higher sales also attributed to weaker Yen that raised sales amount in Yen terms. The net profit was posted at Yen 441 million, up from Yen 383 million a year ago. Rising costs of materials & fuel oils were absorbed by the sales increase.
For the current term ending Mar 2008 the net profit is
projected at Yen 470 million, on a 10% rise in turnover, to Yen 7,700
million. Demand for toners & re-use
cartridges will continue rising.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 206.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul
1982
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 30
million shares
Issued: 768,160,000
shares
Sum: Yen 384.08 million
Major shareholders (%): Akira Kitaoka (30), Denzai Center*(25), Nippon Carbide Ind (3), Nagase & Co (3),
General Co (3)
* Holding company owned by the firm.
No. of shareholders: 23
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures and exports toners, cartridges
(including re-use cartridges) for copying machines, Fax machines, laser
printers, others (--100%).
Clients: [Mfrs, wholesalers] Imex America, Imex EU Trading (--subsidiaries), Carbotex, Hyper Marketing, Print-Rite, other.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nagase & Co, Nihon
Mechatronics, Konishiyasu Co, Araki Seisakusho, Mikasa Sangyo, other.
Payment record: Regular
Location: Business area in Hiratsuka City, Kanagawa-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
MUFG (Hiratsuka-Ekimae)
Bank of Yokohama (Hiratsuka)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual Sales |
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7,700 |
7,023 |
6,128 |
5,456 |
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Recur. Profit |
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772 |
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Net Profit |
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470 |
441 |
383 |
194 |
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Total Assets |
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7,783 |
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Current Assets |
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4,127 |
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Current Liabs |
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3,251 |
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Net Worth |
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3,386 |
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Capital, Paid-Up |
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384 |
384 |
384 |
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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 |
9.64 |
14.61 |
12.32 |
-2.27 |
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Current Ratio |
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.. |
126.95 |
.. |
.. |
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N.Worth Ratio |
.. |
43.51 |
.. |
.. |
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R.Profit/Sales |
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.. |
10.99 |
.. |
.. |
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N.Profit/Sales |
6.10 |
6.28 |
6.25 |
3.56 |
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Return On Equity |
.. |
13.02 |
.. |
.. |
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Notes: Financials are only partially disclosed, except for
the 31/03/2007 fiscal term.
Forecast (or estimated) for the 31/03/2008 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%)