MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
NIPPON RIKA KOGYOSHO CO LTD |
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Registered Office : |
1-20-6 Oh’i Shinagawaku |
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Country : |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
Jun 1948 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing of electric
insulators, their materials |
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 47.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
NIPPON RIKA
KOGYOSHO CO LTD
REGD NAME
KK
MAIN OFFICE
1-20-6 Oh’i
Shinagawaku
Tel : 03-3771-0174
Fax : 03-3777-1319
URL : http://www.nrk-nipponrika.co.jp
E-Mail
address: n.higuchi@nrk-nipponrika.co.jp
ACTIVITIES
Mfg of
electric insulators, their materials
BRANCHES
FACTORY(IES)
Tochigi,
OFFICERS
KUNIYOSHI
OKURI, PRES Yukiko
Okuri, v pres
Kazuhiro
Ishikawa, mgn dir Shigeo
Wada, mgn dir
Mitsuo
Okuri, advisory dir Toshio
Ushiroku, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,583 M
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND STEADY WORTH Yen
1,202 M
STARTED 1948 EMPLOYES 90
COMMENT
MFR SPECIALIZING IN ELECTRIC INSULATOR AND MATERIALS. FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 47.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Torazo Okuri originally in 1914, on his account, for mfg electric insulating materials. Incorporated in 1948 the firm has been succeeded by his descendants. Specializes in mfg Mica-based insulating materials, stator coils & assemblies, power module, other related products. Goods are both imported and exported. Domestic clients include major electric machinery mfrs, other, nationwide.
FINANCIAL
INFORMATION
The sales volume for Sept/2006 fiscal term amounted to Yen
6,583 million, a 15% hike from Yen 5,717 million in the previous term. Mica-based insulating materials were much in
demand, particularly in
For the term just ended Sept 2007 the net profit is estimated posted at Yen 153 million, on a 6% rise in turnover, to Yen 7,000 million. Goods continue in greater demand.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 47.6 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jun 1948
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 2 million shares
Issued: 500,000 shares
Sum: Yen 25 million
Major shareholders (%): Kuniyoshi Okuri (38), Mariko Iwai (25), Yukiko Okuri (25), Mitsuo Okuri (25)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures electric insulating materials (--100%):
(Mfg & handling items):
Mica paper based tapes & sheets (for conductor/ground
insulation; for fire-resistant cables), mica splitting based tapes &
sheets, mica plates, mica papers, mica laminate based products;Stator
coils & stator assemblies; Metal base IMS/PWB, multi zone metal base PWB,
multi layer metal base PWB; Power modules, others.
Clients: [Mfrs, wholesalers] Toshiba Corp & group firms, Fujikura Ltd, Sumitomo Realty & Development Co, Fuji Electric group firms, Kaneka Corp, Nippon Rika Kansai Hambai, Harada Communications Systems, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] NRK Hi-Tech, Kyocera Chemical, Itochu Chemical Frontier, Nippon Rika Isovolta, Fujikura Dia Chemical, other.
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Bank (Ginzadori)
SMBC
(Omori)
Relations:
Satisfactory.
FINANCES
(In
Million Yen)
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Terms Ending: |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual
Sales |
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7,000 |
6,583 |
5,717 |
4,965 |
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Recur.
Profit |
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370 |
264 |
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Net
Profit |
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153 |
149 |
157 |
88 |
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Total
Assets |
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12,364 |
12,687 |
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Current
Assets |
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5,110 |
5,198 |
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Current
Liabs |
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2,384 |
2,287 |
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Net
Worth |
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1,202 |
1,058 |
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Capital,
Paid-Up |
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25 |
25 |
25 |
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Div.P.Share(¥) |
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10.00 |
10.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.33 |
15.15 |
15.15 |
19.58 |
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Current Ratio |
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.. |
214.35 |
227.28 |
.. |
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N.Worth Ratio |
.. |
9.72 |
8.34 |
.. |
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R.Profit/Sales |
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.. |
5.62 |
4.62 |
.. |
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N.Profit/Sales |
2.19 |
2.26 |
2.75 |
1.77 |
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Return On Equity |
.. |
12.40 |
14.84 |
.. |
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Note: Forecast
(or estimated) for the 30/09/2007 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. |
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%)