MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ISHIDA CO LTD |
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Registered Office : |
44 Sannocho-Shogoin Sakyoku |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Oct
1948 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing
of weighing/measuring instruments |
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 1959.2 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
ISHIDA CO LTD
REGD NAME
KK Ishida
MAIN OFFICE
44
Sannocho-Shogoin Sakyoku Kyoto 606-8392
Tel:
075-771-4141
URL: http://www.ishida.co.jp
E-Mail
address: info@ishida.co.jp
ACTIVITIES
Mfg of
weighing/measuring instruments
BRANCHES
OVERSEAS
Europe
(8),
(Subsidiaries): Shanghai Ishida Electronics Scales Ltd; Ishida (Thailand) Co Ltd; Ishida Canada Inc, Ishida System (U) Sdn Bhd.
FACTORY(IES)
OFFICERS
RYUICHI
ISHIDA, PRES Takahide Ishida,
mgn dir
Norio
Yoshioka, mgn dir Shogo
Katoh, mgn dir
Kazuyoshi
Takizawa, mgn dir Takashi
Sashiki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 50,545 M
PAYMENTS REGULAR CAPITAL Yen 99 M
TREND STEADY WORTH Yen
33,254 M
STARTED 1948 EMPLOYES 1,260
COMMENT
MFR SPECIALIZING IN WEIGHTING/MEASURING EQUIPMENT. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,959.2 MILLION, 30 DAYS
HIGHLIGHTS
The subject company was established originally in 1893 by
Otokichi II Ishida, on his account.
Incorporated in 1948 the firm has been succeeded by his
descendants. Specializes in mfg
weighting, packaging and measuring instruments for industrial & commercial
use. Active in overseas markets with 4
mfg plants in
FINANCIAL INFORMATION
The sales volume for Mar/2006 fiscal term amounted to Yen 50,545 million, a 4% up from Yen 48,619 million in the previous term. Exports increased particularly to S/E Asian countries. The recurring profit was posted at Yen 4,730 million and the net profit at Yen 2,896 million, respectively, compared with Yen 4,643 million recurring profit and Yen 1,995 million net profit, respectively, a year ago.
For the term ended Mar 2007 the recurring profit was projected at Yen 4,750 million and the net profit at Yen 2,900 million, respectively, on a 3% rise in turnover, to Yen 52,000 million. Exports continued strong.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,959.2 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Oct 1948
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 8 million shares
Issued: 1.99 million shares
Sum: Yen 99 million
Major shareholders (%): Ryuichi
Ishida (11.5), Takehisa ishida (4.3), other
No. of shareholders: 65
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures weighing & packaging equipment for industrial use (51%), for commercial use (42%), for system machinery & equipment (7%).
Exports
24%
(Items handled)
Weighing/Packaging: multihead
weigher, snack food bagmaker, case packer, conveyor;
Inline Inspection: check weigher, metal detector, X-ray inspection systems, seal cheker;
Retail Systems: counter top scale printer, price computing scale, counter top label printer, automatic wrapper, scale printer for prepack, software tools for retail systems;
Food Processing: automatic wrapper, weigh price labeler, information multi scale;
Factory Automation: platform scale, information multi scale, compact scale, automatic labeler, parts packer;
Logistic Systems:
weighing/cubing, other.
Clients: Supermarket chains, convenience stores, consumer coops, food processors, department stores, farm coops, other.
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] NEC, Fujitsu Ltd, TDC, Oriental Motor, Takebishi Electric Sales, TEC, other.
Payment
record: Regular
Location: Business area in
Bank References
Bank
of
SMBC (
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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52,000 |
50,545 |
48,619 |
46,077 |
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Recur.
Profit |
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4,750 |
4,730 |
4,643 |
3,617 |
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Net
Profit |
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2,900 |
2,896 |
1,995 |
2,020 |
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Total
Assets |
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51,486 |
48,600 |
46,367 |
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Current
Assets |
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38,174 |
36,034 |
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Current
Liabs |
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15,949 |
16,593 |
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Net
Worth |
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33,254 |
30,490 |
27,828 |
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Capital,
Paid-Up |
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99 |
99 |
99 |
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Div.P.Share(¥) |
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40.00 |
35.00 |
35.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.88 |
3.96 |
5.52 |
6.18 |
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Current Ratio |
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.. |
239.35 |
217.16 |
.. |
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N.Worth Ratio |
.. |
64.59 |
62.74 |
60.02 |
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R.Profit/Sales |
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9.13 |
9.36 |
9.55 |
7.85 |
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N.Profit/Sales |
5.58 |
5.73 |
4.10 |
4.38 |
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Return On Equity |
.. |
8.71 |
6.54 |
7.26 |
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Note:
Forecast (or estimated) 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%)