MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MUTOH UNIPACK CO LTD |
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Registered Office : |
1-7-12 Eitai Kotoku Tokyo 135-0034, Japan |
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Country : |
Japan |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
May 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufactures office-use side-opening envelopes, end-opening
envelopes, window-type envelopes, various other made-to-order envelopes ,
name cards, greeting cards, receipts, certificates, other office supplies . |
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 84.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
Company Name
MUTOH UNIPACK CO LTD
REGD NAME
KK Mutoh Unipack
MAIN OFFICE
1-7-12 Eitai Kotoku Tokyo 135-0034 JAPAN
Tel :
03-3642-1141
Fax :
03-3643-6654
*.. Registered at: 1-2-1 Eitai Kotoku Tokyo
URL : http://www.mutoh-u.co.jp/
E-Mail address :
tokuhan@mutoh-u.co.jp
ACTIVITIES
Mfg of envelopes, name cards, greeting cards, other office
supplies
BRANCHES
Tokyo (3), Chiba, Yokohama, Tochigi, Saitama, Maebashi,
other (Tot 10)
FACTORY(IES
At the caption address, Tochigi (2)
OFFICER(S)
Shoichi Mutoh, ch YOSHIMOTO
MUTOH, PRES
Yugo Mutoh, mgn dir Hitoshi
Kawarai, mgn dir
Tatsushi Saitoh, dir Kiyotaro
Ogawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,024 M
PAYMENTS REGULAR CAPITAL Yen 72 M
TREND STEADY WORTH Yen 1,627 M
STARTED 1963 EMPLOYES 349
COMMENT
MFR SPECIALIZING IN OFFICE-USE ENVELOPES & OFFICE
SUPPLIES. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 84.3 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established originally in 1949 by
Shoichi Mutoh as an envelope maker, on his account, and was incorporated in
1953 as Mutoh Seitai KK (Seitai means mfg of packs). Shoichi serves as ch at the firm. Yoshimoto is his son. The
firm is essentially owned and operated by the Mutoh family. In 1970 renamed as captioned. Specializes in mfg various types of
office-use envelopes, supplying to major banks, publishers, government
agencies, universities, telecommunications carriers, insurance companies, etc,
nationwide. In 1975, launched the card
division for making and printing name cards, greeting cards, other. In 1995, opened the information system
division to handle DM services, other marketing PR services. In Apr 2005, separated this division to
establish KK Unipack Direct.
FINANCIAL INFORMATION
The firm stopped disclosing full financials as from the
31/03/2004 fiscal term, only except the following partial figures.
The sales volume for Mar/2006 fiscal term amounted to Yen
8,024 million, a similar amount in the previous term. The net profit was posted at Yen 69 million, up from Yen 45
million a year ago. This is attributed
to some extraordinary profits, as reported.
For the current term ending Mar 2007 the net profit is
projected at Yen 47 million, on a 2% rise in turnover, to Yen 8,200 million. The firm increased the capital to Yen 90
million in May 2006 from the previous Yen 72 million.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 84.3 million, on 30 days normal
terms.
REGISTRATION
Date Registered : May
1953
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
384,000 shares
Issued :
144,000 shares
Sum :
Yen 72 million
Major shareholders (%)
Takemoto Unyu Soko (19.4), Yoshimoto Mutoh (9.6), Yugo Mutoh
(8.8), Yumiko Kobayashi (2.8)
No. of shareholders: 24
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures office-use side-opening envelopes, end-opening
envelopes, window-type envelopes, various other made-to-order envelopes
(--90%), name cards, greeting cards, receipts, certificates, other office
supplies (--10%).
DM Division was separated as an independent company, KK
Unipack Direct in May 2006, handling DM materials, marketing PR supplies, etc.
Clients
[Business firms, government offices, banks, universities]
Dai-ichi Life Ins, NTT East, Bank of Japan, Ministry of Finance, Tokyo Tomin
Bank, Tokyo Univ, Mitsubishi Trust Bank, Nomura
Securities, Kokusai Securities, Gakken Co, Aioi Ins, Toppan Printing, other.
No. of accounts
3,500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Kokusai Pulp & Paper, Shikoku
Yoshiten, Nishiki Kamishoji, Fukoku
Shigyo, Shiozawa, M&N, Fuji Seitai Kogyo, Japan Paper & Pulp Trading,
Okura Sanko Co, Sanmic Corp,
other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Tokyo Tomin Bank (Kayabacho)
Mizuho Bank (Fukagawa)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
31/03/2004 |
31/03/2003 |
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Annual
Sales |
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8,024 |
8,031 |
7,942 |
7,596 |
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Recur.
Profit |
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85 |
190 |
37 |
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Net
Profit |
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69 |
45 |
31 |
-51 |
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Total
Assets |
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8,221 |
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Current
Assets |
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3,728 |
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Current
Liabs |
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2,884 |
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Net
Worth |
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1,627 |
1,558 |
1,513 |
1,482 |
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Capital,
Paid-Up |
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72 |
72 |
72 |
72 |
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Div.P.Share(¥) |
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0 |
0.00 |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-0.09 |
1.12 |
4.56 |
-1.13 |
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Current Ratio |
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129.26 |
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N.Worth Ratio |
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18.03 |
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R.Profit/Sales |
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1.06 |
2.39 |
0.49 |
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N.Profit/Sales |
0.86 |
0.56 |
0.39 |
-0.67 |
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Return On Equity |
4.24 |
2.89 |
2.05 |
-3.44 |
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Notes: The firm stopped releasing full financials as from the 31/03/2004 fiscal term.
(*) Data disclosed from the Taxation Office as the pretax
profits.
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%)