MIRA
INFORM REPORT
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Report Date : |
19.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOKURIKU BANK LTD |
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Registered Office : |
1-2-26 Tsutsumichodori Toyama 930-8637 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
July 1943 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Banking Operation |
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 145.3 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
HOKURIKU BANK LTD
REGD NAME: KK Hokuriku Ginko
MAIN OFFICE: 1-2-26
Tsutsumichodori Toyama 930-8637 JAPAN
Tel:
076-423-7111
* The given
address is its Nagoya Branch
URL: http://www.hokugin.co.jp/
E-Mail address: direct@hokugin.co.jp
ACTIVITIES
Banking operation
BRANCHES
Toyama (90), Ishikawa (35), Fukui (22), Hokkaido (20),
Tokyo/Kanagawa (9),
Niigata/Nagano (2), Nagoya/Takayama (4), Osaka/Kyoto (4)
(Tot 186)
OVERSEAS
New York, Shanghai, Singapore (Tot 3)
OFFICER(S)
SHIGEO TAKAGI, PRES
Satoshi Kawai, rep dir
Hideaki Haneoka, dir
Mitsuhiro Tokuno, dir
Taminori Iwasaki, dir
Masato Matsumoto, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 131,066 M
PAYMENTS REGULAR CAPITAL Yen 140,409 M
TREND SLOW WORTH Yen 240,384 M
STARTED 1943 EMPLOYES 2,742
COMMENT
BANKING OPERATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR PROPER
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 145.3 MILLION, 30 DAYS NORMAL TERMS
Notes:
Forecast (or estimated) for the 31/03/2008 fiscal term.
HIGHLIGHTS
The subject company was established in 1943 and in 2003 integrated with Hokkaido Bank to become a group of Hokuhoku Financial Group Inc, with Hokkaido & Hokuriku banks being recipients of public injection of funds. The bank operates a total 186 offices domestically and 3 overseas, centering in northern part of Japan. In May 2007, went into business tie-ups with MUFG and Mizuho Corporate Bank to strengthen operations.
FINANCIAL INFORMATION
The revenues for Mar/2007 fiscal term amounted to Yen 131,066 million, a 1.8% down from Yen 133,399 million in the previous term. The recurring profit was posted at Yen 38,568 million and the net profit at Yen 19,034 million, respectively, compared with Yen 27,073 million recurring profit and Yen 15,796 million net profit, respectively, a year ago. The operating funds are reported at Yen 774,000 million, up Yen 42,000 million from previously, received as deposits, bonds, investment funds, etc. Loans amounted to Yen 4,145,400 million, up Yen 36,400 million. Consumer loans were Yen 858,000 million, up Yen 68,800 million.
For the term just ended Mar 2008 the net profit was projected at Yen 39,000 million and the net profit at Yen 20,500 million, respectively, on a 0.7% rise in turnover, to Yen 132,000 million.
The financial situation is considered FAIR and good for PROPER business engagements. Max credit limit is estimated at Yen 145.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jul 1943
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,000 million shares
Issued: 1,137,147,185 shares
Sum: Yen 140,409 million
Major shareholders (%)
Hokuhoku Financial Group Inc*(100)
* Financial holding company controlling Hokkaido Bank & Hokuriku Bank, founded 2003, listed Tokyo S/E, capital Yen 70,896 million, turnover Yen 242,268 million, recurring profit Yen 70,017 million, net profit Yen 40,642 million, total assets Yen 9,638,142 million, net worth Yen 491,804 million, employees 4,811, pres Shigeo Takagi
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Banking operations: deposits, loans, insurances, credit cards, foreign currencies (--100%).
Operates a total 186 branch offices domestically and 3 overseas.
Clients
Consumers, business firms, other
No. of accounts
Unavailable
Domestic areas of activities
Centered in northern part of Japan
Payment record
Regular
Location
Business area in Toyama. Office premises at the caption address are owned and maintained satisfactorily.
FINANCES: (In Million Yen)
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FINANCES:
(Consolidated
in million yen) |
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Terms
Ending: |
31/03/2007 |
31/03/2006 |
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INCOME
STATEMENT |
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Annual Sales |
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131,066
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133,399
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Cost of Sales |
40,790 |
45,467 |
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GROSS PROFIT |
90,276 |
87,932 |
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Selling & Adm Costs |
49,767 |
53,388 |
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OPERATING PROFIT |
40,509 |
34,544 |
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Non-Operating P/L |
-1,941 |
-7,471 |
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RECURRING PROFIT |
38,568 |
27,073 |
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NET PROFIT |
19,034 |
15,796 |
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BALANCE SHEET |
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Cash |
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140,378 |
147,834 |
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Receivables |
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199,885 |
215,353 |
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Inventory |
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Securities, Marketable |
799,976 |
839,455 |
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Other Current Assets |
4,338,479 |
4,260,927 |
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TOTAL CURRENT ASSETS |
5,478,718 |
5,463,569 |
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Property & Equipment |
83,414 |
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Intangibles |
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3,498 |
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Investments, Other Fixed Assets |
56,285 |
128,339 |
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TOTAL ASSETS |
5,621,915 |
5,591,908 |
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Payables |
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4,896,662 |
4,818,714 |
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Short-Term Bank Loans |
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Other Current Liabs |
404,115 |
390,317 |
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TOTAL CURRENT LIABS |
5,300,777 |
5,209,031 |
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Debentures |
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Long-Term Bank Loans |
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Reserve for Retirement Allw |
387 |
426 |
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Other Debts |
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80,366 |
164,998 |
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TOTAL LIABILITIES |
5,381,530 |
5,374,455 |
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MINORITY INTERESTS |
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Common
stock |
140,409 |
140,409 |
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Additional
paid-in capital |
14,998 |
14,998 |
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Retained
earnings |
54,740 |
35,600 |
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Evaluation
p/l on investments/securities |
21,300 |
17,381 |
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Others |
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8,937 |
9,065 |
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Treasury
stock, at cost |
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TOTAL S/HOLDERS` EQUITY |
240,384 |
217,453 |
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TOTAL EQUITIES |
5,621,965 |
5,591,908 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash
Flows from Operating Activities |
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-67,233 |
-2,742 |
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Cash
Flows from Investment Activities |
48,013 |
-36,990 |
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Cash
Flows from Financing Activities |
-776 |
-10,486 |
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Cash,
Bank Deposits at the Term End |
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120,979 |
140,972 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2007 |
31/03/2006 |
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Net Worth
(S/Holders' Equity) |
240,384 |
217,453 |
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Current
Ratio (%) |
103.36 |
104.89 |
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Net
Worth Ratio (%) |
4.28 |
3.89 |
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Recurring
Profit Ratio (%) |
29.43 |
20.29 |
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Net
Profit Ratio (%) |
14.52 |
11.84 |
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Return
On Equity (%) |
7.92 |
7.26 |
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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%)