MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
MASAHISA CORPORATION |
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Registered Office : |
3-7-17 Tarumicho Suita City Osaka-Pref 504-0062 |
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Country : |
Japan |
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Date of Incorporation : |
Oct 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of machine cutting tools |
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 20 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
MASAHISA CORPORATION
REGD NAME
KK Masahisa
MAIN OFFICE
3-7-17 Tarumicho Suita City Osaka-Pref 504-0062 JAPAN
Tel : 06-6339-6160
URL : N/A
ACTIVITIES
Wholesale of machine cutting tools
BRANCHES
Fukuoka, Ehime, Shizuoka, Saitama
OFFICERS
ATSUSHI ADACHI, PRES
Yoshinobu Tanaka, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,350 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 104 M
STARTED 1959 EMPLOYES 27
COMMENT
WHOLESALER
SPECIALIZING IN MACHINE CUTTING TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 20 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Atsushi Adachi in order
to make most of his previous experience in the subject line of business. This is a wholesaler specializing in ma- chine cutting tools. Goods are supplied from Masahisa Engineering
KK, mfr of cutting tools for paper mills, Tokyo, pres Atsushi Adachi,
concurrently. Goods are also imported
and exported. Clients are major paper
mills.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Sept/2006 fiscal term are reported amounted to Yen 1,350 million, a 13% rise from Yen 1,195 million in the previous term. The net profit is reported posted at Yen 10 million, down from Yen 32 million a year ago. The last term’s profits are said including some extraordinary income.
For the current term ending Dec 2007 the net profit is
projected at Yen 10 million, on a 3% rise in turnover, to Yen 1,390
million.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 20 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
1959
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%): Masahisa Engineering Co*(20), Ai Adachi (10), Takanori Tanaka (8.5), Atsushi Adachi
(5)*.. Masahisa Engineering Co Inc, Tokyo, founded 1957, capital Yen 10 million,
turnover Yen 752 million, net profit Yen 37 million, employees 30, pres Atsushi Adachi,
concurrently.
No. of shareholders: 20
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Wholesales cutting tools for paper manufacturing
machines (100%).
Goods are wholly supplied from Masahisa Engineering Co Inc,
owned and managed by Atsushi Adachi, pres of the subject firm.
Clients: [Paper mfrs, wholesalers] Rengo Co, Oji Paper,
Nippon Paper Group Inc, Mitsubishi Paper Mills, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfr] Supplied wholly from Masahisa Engineering
Co Inc.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Umeda-Chuo)
SMBC (Umeda)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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1,350 |
1,195 |
1,050 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net Profit |
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10 |
32 |
5 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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104 |
99 |
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Capital,
Paid-Up |
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10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
12.97 |
13.81 |
7.14 |
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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 |
0.74 |
2.68 |
0.48 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 30/09/2006 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%)