MIRA
INFORM REPORT
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Report Date : |
8th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NIKKO
MACHINERY LTD |
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Registered Office : |
Nikko
Bldg 4F, 2-20-3 Nakagawa-Nishi Ikunoku Osaka 544-0032, Japan |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007
(Estimated) |
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Date of Incorporation : |
December
1984 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Exports paperboard carton/box mfg machines & equipment,
paper feeders, cutting machines, and associated parts & accessories &
imports automatic platen cutting & creasing machines from China, others |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 4.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name
NIKKO
MACHINERY LTD
REGD NAME
Nikko
Machinery KK
MAIN OFFICE
Nikko
Bldg 4F, 2-20-3 Nakagawa-Nishi Ikunoku Osaka 544-0032 JAPAN
Tel : 06-6716-1297
Fax : 06-6716-1298
URL :
http://www.nikko-machinery.com (under repair)
ACTIVITIES
Export of carton mfg equipment, paper feeders, cutting machines
& related
BRANCHES
Nil
OFFICERS
AKIHIKO NISHIHARA, PRES
C G Soh, dir (phonetically spelled) (宗鎮元)
Yoshiteru Nishihara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 270 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 19 M
STARTED 1984 EMPLOYES 5
COMMENT
EXPORTER SPECIALIZING IN PAPERBOARD CARTON MFG EQUIPMENT.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 4.5 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Akihiko Nishihara in order
to make most of his experience in the
subject line of business. A small-sized trading firm specializing in exporting
paperboard boxes/cartons mfg equipment and associated accessories. Goods are exported world-widely to USA,
Europe, Asia, etc. Also imports paper
cutting machines from China. Goods for export are supplied from domestic
specialty mfrs.
FINANCIAL INFORMATION
The firm stopped releasing full financials with the last at the
30/09/2002 fiscal term (in digest only), and only the following partial figures
are made available.
The sales volume for Sept/2006 fiscal term amounted to Yen 270
million, an 8% up from Yen 250 million in the previous term. The operations came back to profitability to
post Yen 1 million net profit, compared with Yen 1 million net losses the
previous year. Due to competition
prices were under downward pressure.
For the current term ending Sept 2007 the net profit is projected
at Yen 2 million, on an 11% rise in turnover, to Yen 300 million. Weaker Yen against foreign currencies,
particularly Euro, may lift sales amount in Yen terms.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 4.5 million, on 30 days normal
terms.
REGISTRATION
Date Registered : Dec 1984
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
80,000 shares
Issued :
20,000 shares
Sum :
Yen 10 million
Major shareholders (%)
Akihiko Nishihara (75), C G Soh (15), Yoshiteru Nishihara (10)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Exports paperboard carton/box mfg machines &
equipment, paper feeders, cutting machines, and associated parts &
accessories (--90%); imports automatic platen cutting & creasing machines
from China, others (--10%).
Export destinations: USA, Europe, S/E Asia, Australia, other.
Clients
[Mfrs, wholesalers] Exports to Malaysia, Indonesia, Singapore,
Hong Kong, China, Korea, other S/E Asian countries, USA, Europe, Australia,
etc.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Futagami Iron Works, Hamamatsu Textile, Toyo
Ink Mfg, Shanghai Eterna, Ace Machinery, other. Imports from China, etc.
Payment record
Regular
Location
Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
SMBC (Imazato)
MUFJ (Ueroku)
Relations: Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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300 |
270 |
250 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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2 |
1 |
-1 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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19 |
18 |
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Capital,
Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
11.11
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8.00 |
-10.71
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Current Ratio |
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.. |
.. |
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N.Worth Ratio |
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.. |
.. |
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N.Profit/Sales |
0.67 |
0.37 |
-0.40
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Note: Financials are
only partially disclosed.
Forecast (or
estimated) for the 30/09/2007 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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