MIRA
INFORM REPORT
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Report Date : |
09.07.2007 |
IDENTIFICATION DETAILS
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Name : |
NAKASHIMA SHOKAI CO LTD |
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Registered Office : |
2-2-23 Yanagimachi Okayama 700-0904 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Apr 1950 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of paints, chemicals, painting
goods, other |
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 69.5 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
NAKASHIMA SHOKAI CO LTD
REGD NAME
KK Nakashima
Shokai
MAIN OFFICE
2-2-23 Yanagimachi
Okayama 700-0904
Tel : 086-232-2711
Fax : 086-225-6489
*.. The given address is its Okayama Branch Office.
URL : http://www.nakashima-shokai.co.jp/
E-Mail address: info@nakashima-shokai.co.jp
ACTIVITIES
Wholesale of
paints, chemicals, painting goods, other
BRANCHES
OFFICERS
Tsutomu Nakashima, rep ch NORIHISA NAKASHIMA, PRES
Hiroaki Nakashima, s/mgn dir Takenobu Kawanishi, mgn dir
Akio Matsugae, dir Yaeko Nakashima, rep dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,583 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND STEADY WORTH Yen
607 M
STARTED 1950 EMPLOYES 252
COMMENT
WHOLESALER SPECIALIZING IN INDUSTRIAL PAINTS & COATINGS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 69.5 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established by Shozaburo Nakashima in order to make most of his experience in the subject line of business. Tsutomu is the founder’s son and Norihisa his grandson. Owned and operated by the Nakashima family, the firm specializes in wholesaling industrial paints, coatings, solvents, adhesives, abrasives, related to the painting works. Also handles painting tools & equipment, such as spray guns, brushes, rollers, other. Executes painting works, water-proofing works, too. Products find usage in household, petrochemical industries, bridges, factory interior & exterior works. .
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 16,583 million, an 8% up from Yen 115,348 million in the previous term. Demand from carmakers rose. Housing market revived recovered, too. The recurring profit was posted at Yen 176 million and the net profit at Yen 22 million, respectively, compared with Yen 95 million recurring profit and Yen 31 million net profit, respectively, a year ago. Inventory valuation losses were written off that ate into profits for the term.
For the term ended Mar 2007 the recurring profit was projected at Yen 180 million and the net profit at Yen 25 million, respectively, on a 5% rise in turnover, to Yen 17,400 million.. Details of final results have not been disclosed as yet.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 69.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1950
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 240,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major shareholders (%): Kimie Nakashima (64), Norihisa Nakashima (13), Fumihiro Nakashima (13), Yaeko
Nakashima (3), Chieko Kagawa (2)
No. of
shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales industrial paints & coatings, solvents, synthetic resins, painting equipment & goods, such as brushes, rollers, other; executes painting works, water-proofing works, flooring works, interior/exterior wall paintings, other (--100%).
Clients: [Mfrs, wholesalers] Daiwa House Ind, Mazda, JFE Kozai Corp, GP Daikyo Corp, Mazda, Press Kogyo, Sun Oak, other.
No. of accounts:
1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nippon Paint, Nippon P Chemical, SK Kaken, Ohtsuka Brush Mfg, Mizutani Paint, other.
Payment record:
Regular
Location: Business area in
Bank References
Chugoku Bank
(Okayama-Ekimae)
Shoko Chukin (
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2007 |
31/03/2006 |
31/03/2005 |
31/03/2004 |
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Annual
Sales |
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17,400 |
16,583 |
15,348 |
14,448 |
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Recur.
Profit |
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180 |
176 |
95 |
66 |
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Net
Profit |
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25 |
22 |
31 |
15 |
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Total
Assets |
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10,702 |
10,290 |
9,959 |
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Current
Assets |
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6,036 |
5,486 |
5,392 |
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Current
Liabs |
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6,795 |
6,281 |
6,003 |
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Net
Worth |
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607 |
565 |
535 |
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Capital,
Paid-Up |
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50 |
30 |
30 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.93 |
8.05 |
6.23 |
0.71 |
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Current Ratio |
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88.83 |
87.34 |
89.82 |
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N.Worth Ratio |
.. |
5.67 |
5.49 |
5.37 |
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R.Profit/Sales |
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1.03 |
1.06 |
0.62 |
0.46 |
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N.Profit/Sales |
0.14 |
0.13 |
0.20 |
0.10 |
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Return On Equity |
.. |
3.62 |
5.49 |
2.80 |
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Notes: Forecast
(or estimated) figures for 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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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%)