MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KINBA DENKO CO LTD |
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Registered Office : |
5-25-30 Sakae Nakaku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Dec 1983 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Import, wholesale of
sprinklers, hydraulic equipment, electronics parts |
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 42.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
KINBA DENKO CO LTD
REGD NAME
Kinba Denko KK
MAIN OFFICE
5-25-30 Sakae
Nakaku
Tel : 052-264-4546
Fax : 052-264-5667
URL : http://www.kinba.com/
E-Mail
address: takazane@kinba.com
ACTIVITIES
Import,
wholesale of sprinklers, hydraulic equipment, electronics parts
BRANCHES
OFFICER(S)
AKEHIDE TSUDA, PRES Hiroko Hori, dir
Tomihiro Koshin, dir Takayasu Mizoguchi, dir
Takao
Fujii, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,933 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND STEADY WORTH Yen
227 M
STARTED 1983 EMPLOYES 15
COMMENT
TRADING HOUSE SPECIALIZING IN SPRINKLERS, ELECTRONICS PARTS
& HYDRAULIC EQUIPMENT. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 42.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1923 by
Shimataro Hori for selling industrial equipment, on his account. Incorporated in 1949 and started handling
construction machinery, agricultural machinery and cargo handling
equipment. In 1983, separated
electronics & hydraulic divisions as an independent entity to name as
captioned. This is a trading house for
handling electronics equipment, hydraulic parts & components, sprinklers,
irrigation systems, etc. The subject is
a sole import agent for Rain Bird Corp,
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 1,933 million, an 8% up from Yen 1,782 million in the previous term. This was thanks to rising demand for electronics parts & components from the related industries. Newly marketed wheel chair fixing equipment fared well and contributed to the sales growth. The recurring profit was posted at Yen 12 million, resulting in Yen 12 million net profit for the term.
For the term ended Mar 2007 the net profit was projected at Yen 12 million, on a 3.5% rise in turnover, to Yen 2,000 million. Final results have not been made available in full.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 42.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1983
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 3,840 shares
Issued: 960 shares
Sum: Yen 48 million
Major
shareholders (%): Kinba Shoko KK*(90), Hori families (10)
*..
Trading house specializing in lawn mowers, gardening tools, golf course
equipment (caddy carts, yardage sticks, benches), electric cranes & cargo
handling equipment, at the caption address, founded 1994, wholly owned by Hori
families, capital Yen 38 million, turn over approx Yen 750 million, employees 11,
pres Akehide Tsuda concurrently.
No. of shareholders: 7
Nothing
detrimental is knows as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales electronics parts/components (power connectors for use in control panel motors, for automobiles, for optical devices), panel switches, harness products, printed circuit boards, wheel chair fixing devices, electric hoists; hydraulic machines & equipment (hydraulic pumps, cylinders, valves, hydraulic pumps, fittings, other); sprinklers, hoses, joints, other, as agent for Rain Bird Corp, USA, covering Western part of Japan including Nagoya district (--100%).
Clients: [Mfrs, wholesalers] Okuma Corp, Kyoeisha Co, Konica Minolta Corp, Okuma & Howa Machinery, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kayaba Engineering & Services, Japan Aviation Electronics Ind, ITT Cannon, Kinba Shoko (sister company), Yamaha Motor, other.
Imports as agent from Rain Bird Corp,
Payment
record: Regular
Location: Business area in
Bank References
Bank
of
Juroku
Bank (
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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2,000 |
1,933 |
1,782 |
1,544 |
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Recur.
Profit |
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12 |
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Net
Profit |
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12 |
12 |
5 |
3 |
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Total
Assets |
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791 |
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Current
Assets |
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693 |
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Current
Liabs |
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499 |
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Net
Worth |
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227 |
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Capital,
Paid-Up |
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48 |
48 |
48 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.47 |
8.47 |
15.41 |
9.43 |
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Current Ratio |
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138.88 |
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N.Worth Ratio |
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28.70 |
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R.Profit/Sales |
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0.62 |
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N.Profit/Sales |
0.60 |
0.62 |
0.28 |
0.19 |
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Notes:
Estimated figures 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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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%)