MIRA
INFORM REPORT
|
Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MURAKAMI OIL CO LTD |
|
|
|
|
Registered Office : |
9496-1 Kinoura-Ko Hakatacho Ochigun Imabari Ehime-Pref 794-2305 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2007 |
|
|
|
|
Date of Incorporation : |
Jan 1970 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Gas station operator; supply of bunker fuels, lubricant
oils; waste oil refining |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 131.4 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
name
MURAKAMI OIL CO LTD
REGD NAME
Murakami Sekiyu KK
MAIN OFFICE
9496-1 Kinoura-Ko Hakatacho Ochigun Imabari Ehime-Pref 794-2305 JAPAN
Tel : 0897-72-1221
Fax : 0897-72-2585
URL : http://www.muraseki.com (Now under
construction)
E-Mail address: infoi@muraseki.com
ACTIVITIES
Gas station operator; supply of bunker fuels, lubricant
oils; waste oil refining
GAS STATIONS
At the caption address, Hakatacho, Matsuyama City,
Shigenobucho (Tot 6)
FACTORY(IES)
At the caption address (waste-oil refining yard)
OFFICER(S)
Mineshige Murakami, ch HIRONORI MURAKAMI, PRES
Yasushi Murakami, s/mgn dir Tomonori
Murakami, dir
Kurako Murakami, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,457 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 1,077 M
STARTED 1970 EMPLOYES 44
COMMENT
GAS STATION OPERATOR.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 131.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Mineshige Murakami, now ch, in order to make most of his experience in the subject line of business. Hironori is the founder’s son. This is a gas station operator, wholly owned and operated by the Murakami family, based in Matsuyama City. Also supplies bunker fuels & lubricant oils to ships. Operates waste-oil refining yard at the caption address. Clients include shipping companies, shipbuilders, cement & other mfrs, traders, etc, centering in Ehime-Pref and vicinities.
FINANCIAL INFORMATION
The sales volume for Aug/2006 fiscal term amounted to Yen 7,457 million, a 56% sharp rise from Yen 4,773 million in the previous term. This is attributed to the skyrocketing oil prices. The recurring profit was posted at Yen 314 million and the net profit at Yen 282 million, respectively, compared with Yen 249 million recurring loss and Yen 227 million net losses, respectively, a year ago. The previous term’s losses are referred largely to the time lag to pass the hike onto consumers. It was regarded as one-off losses.
For the term ended Aug 2007 the recurring profit is estimated
posted at Yen 335 million and the net profit at Yen 300 million, respectively,
on a 7% rise in turnover, to Yen 8,000 million. Oil prices hike continued to contribute sales growth.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 131.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan
1970
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%): Mineshige Murakami (20), Hironori Murakami (14), Masuka Murakami (6), Kurako
Murakami
(4), Tomonori Murakami (2)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Operates 6 gas stations in Ehime-Pref, also
supplies bunker fuels & lubricants to ships & offshore facilities; waste-oil
refining operation, others (--100%).
Clients: [Shipping lines, shipyards, mfrs, wholesalers] Murakami Hide Shipbuilding, Taiheiyo Cement Corp, Higaki Shipbuilding, Mitsui OSK Techno-Trade, Hakata Shipbuilding, Hakata Chemical, Kakuyo Shoji, other.
No. of accounts: 500 (wholesale div)
Domestic areas of activities: Centered in Ehime-Pref &
vicinities.
Suppliers: [Oil refiners, wholesalers] Nippon Oil, Bridgestone Ehime Hambai, Yokohama Tire Shikoku Hambai, Iyo Motor, Nippon Oil Trading Corp, other.
Payment record: Regular
Location: Business area in Matsuyama City, Ehime-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References
Iyo Bank (Hakata)
Mizuho Bank (Imabari)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/08/2007 |
31/08/2006 |
31/08/2005 |
31/08/2004 |
|
|
Annual Sales |
|
8,000 |
7,457 |
4,773 |
4,164 |
|
Recur. Profit |
|
335 |
314 |
-249 |
88 |
|
Net Profit |
|
300 |
282 |
-227 |
53 |
|
Total Assets |
|
|
4,821 |
3,916 |
2,178 |
|
Current Assets |
|
|
1,915 |
892 |
874 |
|
Current Liabs |
|
|
857 |
603 |
733 |
|
Net Worth |
|
|
1,077 |
795 |
1,023 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.28 |
56.23 |
14.63 |
2.21 |
|
|
Current Ratio |
|
.. |
223.45 |
147.93 |
119.24 |
|
N.Worth Ratio |
.. |
22.34 |
20.30 |
46.97 |
|
|
R.Profit/Sales |
|
4.19 |
4.21 |
-5.22 |
2.11 |
|
N.Profit/Sales |
3.75 |
3.78 |
-4.76 |
1.27 |
|
|
Return On Equity |
.. |
26.18 |
-28.55 |
5.18 |
|
Notes: Forecast (or estimated) figures for the 31/08/2007
fiscal term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)