MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MA PACKAGING CO., LTD |
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Registered Office : |
Shiba Nichome Daimon Bldg 5F, 2-3-3 Shiba Minatoku Tokyo 105-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
July, 1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Aluminum Foils |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 30.2 million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
MA PACKAGING CO LTD
REGD NAME
KK MA Packaging
MAIN OFFICE
Shiba Nichome Daimon Bldg 5F, 2-3-3 Shiba Minatoku Tokyo 105-0014 JAPAN
Tel: 03-3769-7260
Fax: 03-3769-7283
URL
http://www.malco.co.jp (Of the
parent, Mitsubishi Aluminum Co Ltd)
E-mail
info@malco.co.jp
ACTIVITIES
Mfg of aluminum foils
BRANCHES
Osaka
FACTORY(IES)
Shizuoka
OFFICERS
HIROKI OSADA, PRES Yusuke
Hashizume, mgn dir
Hiroshi Horigome, dir Shigeru
Matsuzawa, dir
Kunio Tagaya, dir Takashi
Itoh, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 7,500 M
PAYMENTS REGULAR CAPITAL Yen 110 M
TREND UP WORTH Yen 428 M
STARTED 1988 EMPLOYES 107
COMMENT
MFR SPECIIALIZING IN ALUMINUM FOILS, WHOLLY OWNED BY
MITSUBISHI ALUMINUM CO LTD.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 30.2 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The
subject company was established on the basis of a division separated from Mitsubishi
Aluminum Co Ltd, mfr of aluminum products, Tokyo (See REGISTRATION). The subject manufactures aluminum foils
centrally and associated aluminum products.
Goods are also exported. Clients
include printing houses, other.
FINANCIAL
INFORMATION
The
sales volume for Mar/2007 fiscal term amounted to Yen 7,500 million, a 7% up
from Yen 7,000 million in the previous term.
Shipment for solar systems to Kyocera Corp and Mitsubishi Electric
continued steady and rising. The net
profit was posted at Yen 111 million, up from Yen 72 million a year ago. Inventory revaluation profits were included,
as reported.
For
the current term ending Mar 2008 the net profit is projected at Yen 80 million,
on a 4% rise in turnover, to Yen 7,800 million. Shipment to Kyocera and Mitsubishi Electric will continue rising.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 30.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul 1988
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 8,800
shares
Issued: 2,200
shares
Sum: Yen
110 million
Major shareholders (%):
Mitsubishi Electric Co Ltd*(100)
* Mfr of aluminum products, Tokyo,
founded 1962, owned by Mitsubishi Materials Corp, capital Yen 8,196 million,
turnover Yen 89,838 million, recurring profit Yen 5,902 million, net profit Yen
3,285 million, total assets Yen 96,344 million, net worth Yen 21,515 million,
employees 1,321, pres Koichi Kitamura
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Manufactures aluminum foils (100%)
Clients
[Mfrs, wholesalers] Mitsubishi
Aluminum, Morinaga Milk Ind, Mitsubishi Electric, Kyocera Corp, Dai Nippon
Printing, Toppan Printing, Lotte Co, Daiwa Pax Co, other..
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Mitsubishi Aluminum, Toyo Ink Mfg, Oji
Paper, other.
Payment record: Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (H/O)
Mitsubishi UFJ Trust Bank (H/O)
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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7,800 |
7,500 |
7,000 |
6,506 |
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Recur. Profit |
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Net Profit |
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80 |
111 |
72 |
11 |
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Total Assets |
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6,454 |
5,970 |
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Current Assets |
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4,484 |
3,858 |
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Current Liabs |
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5,196 |
4,859 |
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Net Worth |
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428 |
313 |
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Capital, Paid-Up |
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110 |
110 |
110 |
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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 |
4.00 |
7.14 |
7.59 |
8.91 |
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Current Ratio |
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.. |
86.30 |
79.40 |
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N.Worth Ratio |
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6.63 |
5.24 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
1.03 |
1.48 |
1.03 |
0.17 |
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Return On Equity |
.. |
25.93 |
23.00 |
.. |
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Notes: 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%)