MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
IDAKA & CO LTD |
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Registered Office : |
1-6-3 Kamimaezu Nakaku Nagoya 460-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
November 1950 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Machine Tools, Measuring
Instruments, Hydraulic Equipment, Other Industrial Equipment |
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 1,513 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
IDAKA & CO LTD
REGD NAME: KK Idaka
MAIN OFFICE: 1-6-3 Kamimaezu
Nakaku Nagoya 460-0013 JAPAN
Tel:
052-321-9251 Fax: 052-339-0936
E-Mail address: idaka@idaka.co.jp
* The given address is its Kariya Branch at:
151-5 Minoikekamishigeharacho Kariya Aichi-Pref
ACTIVITIES
Import, export, wholesale of machine tools, measuring instruments, hydraulic equipment, other industrial equipment
BRANCHES
Kariya, Nara, Toyoda, Tomakomai, Komaki, Kitakyushu, Kanazawa, Koga
OVERSEAS
USA, Thailand, China (3), Czech (--subsidiaries)
FACTORY(IES)
(subcontracted)
OFFICER(S)
Shingo Takada, ch
KENSHI TAKADA, PRES
Hiroshi Takekawa, mgn dir
Hiroshi Mase, mgn dir
Hiroshi Ishikawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 37,006 M
PAYMENTS REGULAR CAPITAL Yen 313 M
TREND STEADY WORTH Yen 10,873 M
STARTED 1950 EMPLOYES 205
COMMENT
TRADING HOUSE SPECIALIZING IN MACHINE TOOLS & INDUSTRIAL MACHINERY. & EQUIPMENTFINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,513 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Katsuhiko Takada in order to make most of his experience in the subject line of business. Shingo is the founder’s son and Kenshi grandson. This is a specialized trading firm for import, export and wholesale of machine tools, measuring instruments, air/hydraulic equipment, cutting tools, other industrial equipment. 50% of business is for Toyota Motor and its group firms. Overseas subsidiaries are in USA, China (3), Czech and Thailand.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 37,006 million, a 7% down from Yen 39,857 million in the previous term. Business slowed. The recurring profit was posted at Yen 1,257 million and the net profit at Yen 731 million, respectively, compared with Yen 1,627 million recurring profit and Yen 782 million net profit, respectively, a year ago.
For the term just ended Mar 2008 the recurring profit was projected at Yen 1,250 million and the net profit at Yen 730 million, respectively, on a 3% rise in turnover, to Yen 38,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,513 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1950
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 12 million shares
Issued: 3 million shares
Sum: Yen 313 million
Major shareholders (%)
Employees’ S/Holding Assn (26.8), Shingo Takada (24.9), Idaka
Kosan (17.5), Kahoko Takada (5.2), Kenshi Takada (4.9)
No. of shareholders: 57
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading house for import, export and wholesale of: Machine tools (41%), auxiliary & peripheral equipment (13%), measuring instruments & tools (11%), cutting tools (13%), air/hydraulic equipment (10%), environmental-related machinery & equipment (12%).
Clients
[Automakers, other mfrs] Toyota Motor, Mitsubishi Heavy Ind, Brother Ind, Denso
Corp, Aisan Ind, Toyota Kohki, other.
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Mitsui Seiki Kogyo, Tungaloy Corp, Mori Seiki Co, Tsugami Corp, Mitsutoyo Corp, Koganei Corp, other.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
SMBC (Kamimaezu)
MUFG (Kamimaezu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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38,000 |
37,006 |
39,857 |
31,349 |
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Recur.
Profit |
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1,250 |
1,257 |
1,627 |
1,093 |
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Net
Profit |
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730 |
731 |
782 |
455 |
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Total
Assets |
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20,749 |
21,378 |
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Current
Assets |
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18,626 |
19,285 |
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Current
Liabs |
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9,875 |
11,128 |
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Net
Worth |
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10,873 |
10,250 |
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Capital,
Paid-Up |
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313 |
313 |
313 |
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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 |
2.69 |
-7.15 |
27.14 |
21.76 |
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Current Ratio |
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.. |
188.62 |
173.30 |
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N.Worth Ratio |
.. |
52.40 |
47.95 |
.. |
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R.Profit/Sales |
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3.29 |
3.40 |
4.08 |
3.49 |
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N.Profit/Sales |
1.92 |
1.98 |
1.96 |
1.45 |
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Return On Equity |
.. |
6.72 |
7.63 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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%)