MIRA
INFORM REPORT
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Report Date : |
26.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLOW JAPAN CORPORATION |
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Registered Office : |
Ebisu Garden Place Tower 18F, 4-20-3 Ebisu Shibuyaku Tokyo 150-6018 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
November 1975 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Waterjet Systems, Machine Tools |
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 27.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
FLOW JAPAN CORPORATION
REGD NAME: KK Flow Japan
MAIN OFFICE: Ebisu Garden Place
Tower 18F, 4-20-3 Ebisu Shibuyaku Tokyo 150-6018 JAPAN
Tel:
03-5789-5920 Fax: 03-5789-5919
URL: http://www.flowjapan.co.jp/
E-Mail address: fjc@flowjapan.co.jp
ACTIVITIES
Import, wholesale of waterjet systems, machine tools
BRANCHES
Nagoya, Yokohama
OFFICER(S)
HIROYASU ONO, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,532 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 1,960 M
STARTED 1975 EMPLOYES 20
COMMENT
IMPORTER SPECIALIZING IN WATER-JET SYSTEMS & MACHINE
TOOLS, OWNED
BY FLOW INTERNATIONAL CORP, USA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 27.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Flow International Corp, USA, as its marketing arm in Japan. This is a trading firm specializing in ultra-high-pressure (UHP) waterjet systems, industrial robots & equipment, machine tools, other. Goods are imported from USA and group firms in Europe, Asia, etc. It also offers maintenance, repairing services for systems delivered. Clients are mfrs. Nagoya is the operation base.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Apr/2007 fiscal term amounted to Yen 1,532 million, a 1% up from Yen 1,523 million in the previous term. The net profit was posted at Yen 22 million, down from Yen 162 million net profit a year ago. It is understood that rising costs of materials & imports ate into profits, but this is not confirmed by the firm.
For the current term ending Apr 2008 the net profit is projected at Yen 23 million, on a 4% rise in turnover, to Yen 1,600 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 27.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1975
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 00 shares
Issued: 800 shares
Sum: Yen 40 million
Major shareholders (%)
Flow International Corp, USA (100)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports & wholesales ultra-high-pressure ‘UHP) waterjet systems, industrial robots, assembly equipment, offering maintenance services (--100%).
Clients
[Mfrs] Sumitomo Heavy Ind Marine Engineering, Kao Corp, Honda Engineering, Inoac Corp, Kitagawa Ind, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports from Flow International, Flow Asia, Flow Taiwan, other group firms.
Domestically supplied from Hayashi Diamond Ind, Parker Hannifin Japan, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Ginza & Yaesudori)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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1,600 |
1,532 |
1,523 |
966 |
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Recur.
Profit |
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Net Profit |
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23 |
22 |
162 |
171 |
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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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1,960 |
1,938 |
1,767 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.44 |
0.59 |
57.66 |
-10.56 |
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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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.. |
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N.Profit/Sales |
1.44 |
1.44 |
10.64 |
17.70 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/04/2008 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%)