MIRA INFORM REPORT

 

 

Report Date :

22.10.2007

 

IDENTIFICATION DETAILS

 

Name :

WINCKLER & CO LTD

 

 

Registered Office :

YS Kannai Bldg 7F, 4-9-1 Chojamachi Nakaku Yokohama 231-0033

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2007

 

 

Date of Incorporation :

Apr 1988

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, wholesale of food processing machines, packaging machines, other industrial machines

 

 

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 61.2 millions

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

name

 

WINCKLER & CO LTD

 

 

REGD NAME

 

Winckler Shokai KK

 

 

MAIN OFFICE

 

YS Kannai Bldg 7F, 4-9-1 Chojamachi Nakaku Yokohama 231-0033 JAPAN

Tel        : 045-681-0101    

Fax       : 045-641-6946

URL      : http://www.winckler.co.jp

E-Mail address: info@winckler.co.jp

 

 

ACTIVITIES

 

Import, wholesale of food processing machines, packaging machines, other industrial machines

 

 

BRANCHES

 

Kobe, Nagoya

 

 

OFFICERS

 

HERBERT FAID (phonetically spelled), PRES

Z Robert, rep dir

Makio Hotta, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 3,341 M

PAYMENTS      REGULAR                     CAPITAL           Yen 25 M

TREND             STEADY                       WORTH            Yen 360 M

STARTED         1988                             EMPLOYES      32

 

 

 

 

 

 

COMMENT

 

TRADING FIRM FOR IMPORT OF INDUSTRIAL MACHINES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 61.2 MILLION, 30 DAYS NORMAL TERMS. 

 

 

HIGHLIGHTS

           

The subject company was established originally in 1870 jointly by two German businessmen, J Winckler and F Dankwets, for importing industrial machines from Germany, on their own account.  Reorganized and incorporated in 1988, the firm has been succeeded by the present executives.  This is a specialized trading firm for import and wholesale of food processing machines, packaging machines, plastic molding machines, glass mfg machines, and other industrial machinery.  In 1981, advanced into importing marine sports goods and leisure goods, which division was separated later into a subsidiary, Winckler Sports & Leisure Co Ltd.  Goods are imported from Germany centrally, Italy, Switz, and other Europe, etc.  Clients are food processors centrally.

 

 

FINANCIAL INFORMATION

           

The firm stopped releasing full financials as from the Jun/2006 fiscal term and only partial figures have been disclosed.

 

The sales volume for Jun/2007 fiscal term amounted to Yen 3,341 million, a sharp 50% rise from Yen 2,223 million in the previous term.  Food processing machines & plastic molding machines rose steeply, according to the firm.  Some large lots orders were received, too.  The net profit rose to Yen 80 million from Yen 33 million a year ago.  Some extraordinary incomes are reported.

 

For the current term ending Jun 2008 the net profit is projected at Yen 3,500 million, on a 5% rise in turnover, to Yen 3,500 million.  Food processing machines are on the rise.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 61.2 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:            Apr 1988

Legal Status:                 Limited Company (Kabushiki Kaisha)

Authorized:                    2,000 shares

Issued:                          500 shares

Sum:                            Yen 25 million

Major shareholders (%): Z Robert (48), Ingo Zerich (30), H Faid (21)

No. of shareholders:       5

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

 

 

 

OPERATION

 

Activities: A trading house for import and wholesale of industrial machines: food processing machines, packaging machines, plastic molding machines, glass mfg machines, other industrial machinery; offers machinery maintenance, repairing services (--100%).

 

Goods are imported from Germany, Italy, Switz, other Europe.

 

Clients: [Food processors, pharmaceutical mfrs, other mfrs] Morinaga Milk Ind, Rohto Pharmaceutical, Snow Brand Milk Products, Taiyo Pharmaceutical Ind, Tokyo Kaneka Foods, Teika Pharmaceutical, MK Cheese, Toppan Printing, NOF Corp, Nestle Japan, Sunstar Inc, Rokko Butter, other. 

 

No. of accounts: 800

 

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Imports from Germany centrally, Italy, Switz, other Europe.

 

Payment record: Regular

 

Location: Business area in Yokohama.  Office premises at the caption address are leased and maintained satisfactorily.

 

 

Bank References

 

MUFG (Yokohama)

Mizuho Bank (Yokohama)

 

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

Terms Ending

　

30/06/2008

30/06/2007

30/06/2006

30/06/2005

Annual Sales

　

3,500

3,341

2,223

2,587

Recur. Profit

　

　

　

　

51

Net Profit

　

50

80

33

43

Total Assets

　

　

N/A

N/A

2,209

Net Worth

　

　

360

304

281

Capital, Paid-Up

　

　

25

25

25

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

4.76

50.29

-14.07

17.70

       Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

12.72

       N.Profit/Sales

1.43

2.39

1.48

1.66

 

Note: Financials are only partially disclosed.

The firm stopped disclosing full financials from the 30/06/2006 fiscal term.

Forecast (or estimated) for the 30/06/2008 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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions