MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
OKAMOTO MEIMOKUTEN KK |
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Registered Office : |
5-32-1 Kishibekita Suita City Osaka-Pref 564-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
June 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer, Import, Wholesale of Housing Materials, 2x4
Housing Units, Pre-Cut Timber |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 371.0 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
OKAMOTO MEIMOKUTEN KK
REGD NAME: Okamoto Meimokuten KK
MAIN OFFICE: 5-32-1 Kishibekita
Suita City Osaka-Pref 564-0001 JAPAN
Tel:
06-6388-3411 Fax: 06-6387-9717
E-Mail address: bss-net@okamei.co.jp
ACTIVITIES
Mfg, import, wholesale of housing materials, 2x4 housing
units, pre-cut timber
BRANCHES
Kakogawa, Nara, Kyoto, Himeji, other (Tot 14)
FACTORY(IES)
Osaka, Mita, Kyoto
OFFICER(S)
GENJI SATOH, PRES
Tomoko Satoh, v pres
Hiroshi Okamoto, ch
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 11,627 M
PAYMENTS REGULAR CAPITAL Yen 75 M
TREND STEADY WORTH Yen 4,058 M
STARTED 1959 EMPLOYES 213
COMMENT
MFG, IMPORT AND WHOLESALE OF TIMBER, HOUSING MATERIASL, 2X4 HOUSING
UNITS..
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 371.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hiroshi Okamoto, now ch at the firm, for selling fancy wood in Osaka. In 1970 moved the headquarters to the caption address. This firm specializes in mfg, import, and wholesale of buildings materials, fancy woods, laminated wood, pre-cut timber, other related. Also handles 2x4 prefabricated housing units. Has three factories In Osaka & Kyoto. Operations cover the western part of Japan, centering in the greater-Osaka area.
FINANCIAL INFORMATION
The sales volume for May/2007 fiscal term amounted to Yen 11,627 million, a 7% up from Yen 10,917 million in the previous term. Housing market revived with new buildings starting built in the center of city areas. The hike in timber prices also helped. The recurring profit was posted at Yen 289 million and the net profit at Yen 289 million, respectively, compared with Yen 504 million recurring profit and Yen 246 million net profit, respectively, a year ago.
For the current term ending May 2008 the net profit is projected at Yen 295 million, on a 6% rise in turnover, to Yen 12,300 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 371.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1959
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6 million shares
Issued: 1.5 million shares
Sum: Yen 65 million
Major shareholders (%)
Tomiko Okamoto (20), Hiroshi Okamoto (20), Tomoko Satoh (6), Noriko Kurokawa (6), Mitsuhiro Okamoto (4)
No. of shareholders: 15
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures, imports and wholesales building & housing materials 70%), laminated woods, pre-cut timber, other wood (--15%), fancy woods, other (5%).
Also handles 2x4 prefabricated housing units; acting as sales agent for Sumitomo Forestry in the area.
Housing & Building Materials: Integrated kitchen systems, unit bath & bathroom, doors, ceilings, walls, outer walls, stairs, roofs, walls, other.
Clients
[House builders, business firms, contractors] NCN, Sumitomo Forestry, Toyota Motor,
First Juken Co, Tama Home Co, Oumi Jutaku, other
No. of accounts
1,000
Domestic areas of activities
Centered in western Japan
Suppliers
[Mfrs, wholesalers] Sumitomo Forestry, Tsuda Sangyo, Marubeni Building Materials, JK Holdings, Wood One, Mikado Co, Itochu Kenzai Corp, other.
Payment record
Regular
Location
Business area in Suita City, Osaka-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
SMBC (Suita)
Shoko Chukin Bank (Osaka)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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12,300 |
11,627 |
10,917 |
11,091 |
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Recur.
Profit |
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289 |
504 |
391 |
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Net
Profit |
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295 |
289 |
246 |
218 |
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Total
Assets |
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8,914 |
8,712 |
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Current
Assets |
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3,947 |
3,455 |
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Current
Liabs |
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2,158 |
2,432 |
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Net
Worth |
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4,058 |
3,768 |
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Capital,
Paid-Up |
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75 |
75 |
75 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.79 |
6.50 |
-1.57 |
-4.63 |
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Current Ratio |
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.. |
182.90 |
142.06 |
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N.Worth Ratio |
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45.52 |
43.25 |
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R.Profit/Sales |
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2.49 |
4.62 |
3.53 |
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N.Profit/Sales |
2.40 |
2.49 |
2.25 |
1.97 |
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Return On Equity |
.. |
7.12 |
6.53 |
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Notes: Forecast (or estimated) figures for the 31/05/2008
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%)