MIRA
INFORM REPORT
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Report Date : |
28.09.2007 |
IDENTIFICATION DETAILS
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Name : |
THERMO PACKAGE CO LTD |
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Registered Office : |
714-5 |
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Country : |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
Dec 1961 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing of plastic
garbage bags & films |
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 15.6 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
THERMO PACKAGE CO LTD
REGD NAME
Thermo Hoso KK
(Hoso means packages)
MAIN OFFICE
714-5 Matsunaga
Tel : 055-922-0535
Fax : 055-922-4662
URL : http://www.thermopack.co.jp/
E-Mail
address: mail@thermopack.co.jp
ACTIVITIES
Mfg of
plastic garbage bags & films
BRANCHES
Nil
FACTORY(IES)
At the
caption address
OFFICERS
Shigeo
Kawamura, ch
TADAHIKO
KAWAMURA, PRES
Shigeko
Kawamura dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 870 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
104 M
STARTED 1961 EMPLOYES 35
COMMENT
MFR SPECIALIZING IN PLASTIC GARBAGE BAGS & FILMS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$125,000 / O/A 60 DAYS.
MAX CREDIT LIMIT: YEN 15.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shigeo Kawamura in order to make most of his experience in the subject line of business. Tadahiko is the founder’s son, who took the pres office in May 1992. The firm, wholly owned and operated by the Kawamura family, specializes in mfg plastic garbage films & bags for household-use and for commercial-use. Due to stricter regulations by local municipalities for garbage & refuse disposal, uniform & standardized plastic disposal bags & films are much in demand. Clients include major super markets, chain stores, other. Operations are extended into local municipalities.
FINANCIAL
INFORMATION
Financials are only partially disclosed.
The sales volume for Jul/2006 fiscal term amounted to Yen 870 million, a 4% up from Yen 840 million in the previous term. Regulated size/quality disposal bags, according to the local regulations, are being much in demand. Commercial-use bags also fared well. The net profit was posted at Yen 6 million, unchanged from the previous term. Rising costs of materials and fuel prices deteriorated profitability.
For the term ended Jul 2006 the net profit is believed posted at Yen 5 million, on a 2% rise in turnover, to Yen 890 million. Business continues steadily on the upswing, while profits will worsen due to rising costs of materials & mfg.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 15.6 million, on 30 days normal terms. The proposed amount for O/A 60 days is considered within the firm’s financial capacities.
REGISTRATION
Date
Registered: Dec 1961
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen
10 million
Major shareholders (%): Shigeo Kawamura (40), Tadahiko Kawamura (25)
No. of
shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures plastic garbage disposal films & bags for household-use (50%), for commercial-use (40%); wholesale of packaging equipment & supplies (10%).
Goods
are also manufactured by a subsidiary maker, Thermo KK.
Clients: [Chain stores, supermarkets, wholesalers, local municipalities] Ito-Yokado, Seven-Eleven Japan, NBS, Encho Co, Chari Co, CFS Corporation, other.
No. of
accounts: 700
Domestic
areas of activities: Centered in Shizuoka-Pref and vicinities.
Suppliers: [Mfrs, wholesalers] Thermo KK (subsidiary mfr) (25%), Aicello Chemical, Okura Ind, J-Film Corp, other.
Payment
record: Regular
Location: Business area in
Bank References
Shimizu
Bank (
Shizuoka
Bank (Numazu-Eki-Kita)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/07/2007 |
31/07/2006 |
31/07/2005 |
31/07/2004 |
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Annual
Sales |
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890 |
870 |
840 |
820 |
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Recur.
Profit |
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Net
Profit |
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5 |
6 |
6 |
5 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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104 |
100 |
95 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
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0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.30 |
3.57 |
2.44 |
-5.53 |
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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 |
0.56 |
0.69 |
0.71 |
0.61 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for 31/07/2007 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%)