MIRA
INFORM REPORT
|
Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
NIPPON GIANT TIRE CO LTD |
|
|
|
|
Registered Office : |
338 Nakai Tatsunocho Tatsuno City Hyogo-Pref 679-4124, Japan |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2006 (Estimated) |
|
|
|
|
Date of Incorporation : |
June 1971 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufactures of tires & tubes for construction
vehicles |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 273.2 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
Company Name
NIPPON GIANT TIRE CO LTD
REGD NAME
Nippon Giant Tire KK
MAIN OFFICE
338 Nakai Tatsunocho Tatsuno City Hyogo-Pref 679-4124 JAPAN
Tel :
0791-63-0881
Fax :
0791-63-4609
URL : http://www.toyo-rubber.co.jp
(Of the Japan parent)
E-Mail address :
info@toyo-rubber.co.jp
ACTIVITIES
Mfg of tires for construction machinery & vehicles
BRANCHES
Nil
FACTORY(IES)
At the caption address
OFFICERS
HIDESATO ISHIKAWA, PRES
Norio Itsugi, dir
Koji Fukuda, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,644 M
PAYMENTS REGULAR CAPITAL Yen 1,300 M
TREND STEADY WORTH Yen 2,475 M
STARTED 1971 EMPLOYES 240
COMMENT
MFR OF SUPERSIZE TIRES & TUBES FOR CONSTRUCTION
VEHICLES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 273.2 MILLION, 30 DAYS NORMAL
TERMS. .
HIGHLIGHTS
The subject company was established as JV by Goodyear
Wingfoot KK and Toyo Tire & Rubber
Co Ltd for mfg supersize tires & tubes for construction vehicles. 65% of the products are shipped to Goodyear
and 35% to Toyo Tire & Rubber.
Production continues rising.
FINANCIAL INFORMATION
The sales volume for Dec/2005 fiscal term amounted to Yen
8,644 million, a 5% up from Yen 8,252 million in the previous term. The net profit jumped to Yen 80 million from
Yen 39 million a year ago.
For the term ended Dec 2006 the net profit is believed
posted at Yen 85 million, on a 3% rise in turnover, to Yen 8,900 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 273.2 million, on 30 days normal terms.
REGISTRATION
Date Registered :
Jun1971
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
26,000 shares
Issued :
26,000 shares
Sum :
Yen 1,300 million
Major shareholders (%)
Goodyear Wingfoot KK (65), Toyo Tire & Rubber (30),
Mitsubishi Corp (5)
No. of shareholders:
3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures supersize tires & tubes for
construction vehicles (--100%).
Clients
[Mfrs, wholesalers] Goodyear (65%), Toyo Tire & Rubber
(34%), Goodyear Wingfoot, other.
No. of accounts
20
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Toyo Tire & Rubber (10%), Mitsubishi
Corp, Goodyear Orient, Tokyo Steel Mfg, Cabot Japan, other.
Payment record
Regular
Location
Business area in Tatsuno City, Hyogo-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
SMBC (Himeji)
MUFG (Osaka-Chuo)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms
Ending: |
31/12/2006 |
31/12/2005 |
31/12/2004 |
|
|
Annual
Sales |
|
8,900 |
8,644 |
8,252 |
|
Recur.
Profit |
|
|
150 |
93 |
|
Net
Profit |
|
85 |
80 |
39 |
|
Total
Assets |
|
|
6,360 |
6,127 |
|
Current
Assets |
|
|
4,280 |
4,107 |
|
Current
Liabs |
|
|
3,281 |
3,293 |
|
Net
Worth |
|
|
2,475 |
2,395 |
|
Capital,
Paid-Up |
|
|
1,300 |
1,300 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.96 |
4.75 |
8.24 |
|
|
Current Ratio |
|
.. |
130.45 |
124.72 |
|
N.Worth Ratio |
.. |
38.92 |
39.09 |
|
|
R.Profit/Sales |
|
.. |
1.74 |
1.13 |
|
N.Profit/Sales |
0.96 |
0.93 |
0.47 |
|
|
Return On Equity |
.. |
3.23 |
1.63 |
|
Note: Forecast (or estimated) for the 31/12/2006 fiscal
term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)
PRIVATE
& CONFIDENTIAL : This information is provided to you at
your request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and generally
as an aid to your business and for no other purpose. You will hold the
information in strict confidence, and shall not reveal it or make it known to
the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions