MIRA
INFORM REPORT
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Report Date : |
31st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
HONDA
ACCESS INC |
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Registered Office : |
8-18-4
Nobidome Niiza Saitama-Pref 352-0011, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007
(Estimated) |
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Date of Incorporation : |
August
1976 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer
of automobile & motorcycle parts &
accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 4,451.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
HONDA
ACCESS INC
REGD NAME
KK Honda
Access
MAIN OFFICE
8-18-4
Nobidome Niiza Saitama-Pref 352-0011 JAPAN
Tel :
048-477-2511
Fax : 048-477-9388
URL : http://www.honda.co.jp/ACCESS
E-Mail address :
info@honda.co.jp/ACCESS
ACTIVITIES
Mfr of automobile & motorcycle parts & accessories
BRANCHES
Hidaka (Saitama), Tochigi
OVERSEAS
USA (2), Belgium, Brazil, Thailand, China, Taiwan (--subsidiaries)
FACTORY(IES
Hidaka (Saitama), Tochigi
OFFICERS
YASUCHIKA NISHIURA, PRES Koichi
Shimada, dir
Atsushi Nomura, dir Yasuhiro
Arai, dir
Shoji Ueda, dir Hiyoshi
Honma, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 70,922 M
PAYMENTS REGULAR CAPITAL Yen 2,000 M
TREND STEADY WORTH Yen 31,234 M
STARTED 1976 EMPLOYES 712
COMMENT
MFR (R&D) OF AUTOMOBILE & MOTORCYCLE PARTS & ACCESSORIES,
WHOLLY OWNED BY HONDA MOTOR CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR TO EXCELLENT AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 4,451.3 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Honda Motor Co in order to
streamline subsidiary operations in the line of mfg (R&D) of automobile
& motorcycle parts & accessories.
In Oct 1983, integrated logistics & distribution operations. In Jul 1987, renamed as captioned. In May
1987 started mfg of car air-conditioner.
Has 7 overseas subsidiaries to cover the worldwide markets. Stressing operations in China.
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 70,922
million, a 3.4% up from Yen 68,587 million in the previous term. Sales rose backed up by robust car
production by the parent, Honda Motor Co.
The net profit was posted at Yen 2,932 million, up from Yen 2,064 million
a year ago.
For the current term ending Mar 2007 the net profit is projected
at Yen 2,950 million, on a 3% rise in turnover, to Yen 73,000 million.
The financial situation is considered FAIR to EXCELLENT and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 4,451.3 million, on 30 days normal terms.
REGISTRATION
Date Registered : Aug 1976
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
16 million shares
Issued :
4 million shares
Sum :
Yen 2,000 million
Major shareholders (%)
Honda Motor Co Ltd*(100)
*.. Major carmaker ranked 2nd in domestic market,
founded 1948, listed Tokyo, Osaka, Nagoya, New York, London, Switz S/E’s,
capital Yen 86,067 million, turnover Yen 9,907,996 million, recurring profit
Yen 814,617 million, net profit Yen 597,033 million, total assets Yen
10,571,681 million, net worth Yen 4,125,750 million, employees 144,786, pres
Takeo Fukui
Overseas subsidiaries: Honda Access
America Inc; Honda Access America Inc, Ohio Office; Honda Access Europe NV; Honda
Access Do Brasil Ltd; Honda Access Thailand Co Ltd; Honda Access china Corp;
Honda Access Corp, Taiwan Branch
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures, including R&D, car & motorcycle
parts & accessories (--100%). Goods
are wholly shipped to the parent, Honda Motor Co ltd.
Clients
[Carmaker] Shipped wholly to the parent, Honda Motor Co Ltd and
group firms.
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Hitachi Ltd, Matsushita Electric Ind, Alpine,
Pioneer Corp, Showa Denko, Mitsuba Corp, Mitsugi Sangyo, Nihon Denso, TS Tech,
other.
Payment record
Regular
Location
Business area in Niiza City, Saitama-Pref. Office premises at the caption address are
owned by the parent, Hondo Motor Co, and maintained satisfactorily.
Bank References
MUFJ (Niiza-Shiki)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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73,000
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70,922
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68,587
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Recur.
Profit |
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2,114
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2,440
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Net
Profit |
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2,950
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2,932
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2,064
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Total
Assets |
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41,641
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41,441
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Current
Assets |
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30,665
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32,419
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Current
Liabs |
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9,604
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10,260
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Net
Worth |
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31,234
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28,271
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Capital,
Paid-Up |
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2,000
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2,000
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.93 |
3.40 |
6.19 |
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Current Ratio |
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.. |
319.29
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315.97
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N.Worth Ratio |
.. |
75.01
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68.22
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R.Profit/Sales |
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.. |
2.98 |
3.56 |
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N.Profit/Sales |
4.04 |
4.13 |
3.01 |
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Return On Equity |
.. |
9.39 |
7.30 |
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Note:
Forecast (or estimated) for the 31/03/2007 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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