MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TOKAI BUHIN KOGYO CO LTD |
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Registered Office : |
4-8 Takashima-Honcho |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Oct 1947 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing of bolts &
nuts, medical devices |
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 23.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NAME
TOKAI BUHIN KOGYO CO LTD
REGD NAME
Tokai Buhin Kogyo
KK
MAIN OFFICE
4-8
Takashima-Honcho
Tel : 055-921-4174
Fax : 055-924-0784
URL : http://www.tokaibuhin.co.jp
E-Mail
address: info@tokaibuhin.co.jp
ACTIVITIES
Mfg of
bolts & nuts, medical devices
BRANCHES
Nil
FACTORY(IES)
At the
caption address, Amagi (
Areas:
OFFICERS
NOBUYUKI
MORITA, PRES
Kenji
Tashiro, s/mgn dir
Nobuko
Okawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,300 M
PAYMENTS REGULAR CAPITAL Yen 15 M
TREND STEADY WORTH Yen
205 M
STARTED 1947 EMPLOYES 67
COMMENT
MFR SPECIALIZING IN BOLTS & NUTS FOR AUTO MAKERS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 23.7 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by father of Nobuyuki Morita in order to make most of his experience in the subject line of business. Specializes in mfg bolts & nuts mainly for auto makers. In 2004, started producing medical parts & components (approved No. 22BZ5042): orthopedic surgery and dental parts. Clients are automakers, specialty wholesalers, etc.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2006 fiscal term amounted to Yen 1,300 million, a 2% up from Yen 1,270 million in the previous term. The net profit was posted at Yen 12 million, up from Yen 11 million a year ago.
For the term ended Mar 2007 the net profit was projected at Yen 12 million, on a 4% rise in turnover, to Yen 1,350 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 23.7 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Oct 1947
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 30,000 shares
Sum: Yen 15 million
Major shareholders (%): Nobuyuki Morita, Kenji Tashiro (--majority owned)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures bolts & nuts (80%), micro screw & parts (10%), medical treatment parts, others (--10%).
(Mfg items):
Bolts & Nuts for auto makers: hexagon bolts, specialized bolts, precision nuts & bolts, drive shaft, brake parts, hybrid parts, sheet-related parts, electric components;
Micro Screw & Micro Parts: HDD micro nuts & bolts, micro nuts for handy phones, for models, other;
Medical Parts &
Components: (For orthopedic surgery): Reamer, tap, wrench, shavers,
drivers, fixed pins, guide pins, bolts & nuts for skulls, bone fixation
materials; (For Dentists): plates, connectors, artificial dental implants,
other.
Clients: [Auto makers, specialty wholesalers] Nissan Motors, Yazaki Corp, Yazaki Parts, Fuji Kiko, Saito-Mogami Ind, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Sugita Wire Mfg, Kyowa Koki, Daido Kogyo, other.
Payment
record: Regular
Location: Light industrial area in
Bank References
Shizuoka
Bank (
Relations:
Satisfactory
FINANCES
(In Million
Yen)
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Terms Ending: |
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31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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1,350 |
1,300 |
1,270 |
1,300 |
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Recur.
Profit |
(*) |
.. |
.. |
.. |
49 |
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Net
Profit |
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12 |
12 |
11 |
10 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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205 |
193 |
182 |
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Capital,
Paid-Up |
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15 |
15 |
15 |
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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 |
3.85 |
2.36 |
-2.31 |
1.56 |
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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 |
0.89 |
0.92 |
0.87 |
0.77 |
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Note:
Financials are only partially disclosed.
Forecast
(or estimated) for the 31/03/2007 fiscal term.
(*)
Pretax profits disclosed from the Taxation Office.
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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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%)