MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANYO TECHNO CO LTD |
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Registered Office : |
5-4-30 Shozokucho Iwakuni Yamaguchi-Pref 740-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
January 1969 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Fiber Manufacturer Equipment, Devices and
Parts |
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 17.7 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SANYO TECHNO CO
LTD
REGD NAME: KK Sanyo Seiki
MAIN OFFICE: 5-4-30 Shozokucho Iwakuni Yamaguchi-Pref
740-0001 JAPAN
Tel:
0827-21-5261 Fax: 0827-21-6170
URL: http://www.sanyo-seiki.co.jp/
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of fiber mfg equipment, devices & parts
BRANCHES
Nil
FACTORY(IES)
At the caption address, Iwakuni (3). (Tot 4)
OFFICER(S)
FUMIO HONBATA, PRES
Kenji Abe, v pres
Shin’ichi Abe, dir
Yoshiko Abe, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 434 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen 158 M
STARTED 1969 EMPLOYES 32
COMMENT
MFR OF FIBER MFG EQUIPMENT & PARTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 17.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by S Abe in order to make most of his experience in the subject line of business. Fumio Honbata took the office of presidency in Dec 1994. This is a family-based mfr, owned by the Abe family, specializing in making synthetic fiber mfg equipment, devices & parts (See OPERATION). Products are exported widely to USA and mainly to S/E Asian countries. Domestic clients include major spinning firms.
FINANCIAL INFORMATION
The sales volume for Oct/2007 fiscal term amounted to Yen 434 million, a 6% down from Yen 463 million in the previous term. This is referred to slowdown of textile/spinning industries with exports decreased. In S/E countries locally manufactured machineries/equipment is much in use at lower prices. As a result, the operations plunged into the red to register Yen 22 million recurring loss, resulting in Yen 22 million net losses for the term.
For the current term ending Oct 2008 the operations are expected to come back to profitability to project Yen 5 million net profit, on a 4% rise in turnover, to Yen 450 million. Due to the higher Yen against US Dollars, the projections could be adjusted.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 17.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1969
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders (%)
Shin’ichi Abe (33), Sumiko Abe (30), Sueko Fujioka (11), Kenji Abe (8)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures fiber mfg machinery, equipment, devices & parts (--100%).
(Main Products):
Mfg Systems & Devices: nylon & polyester spin drawing equipment, spin drawing equipment for industrial materials, FOY equipment for nylon & polyester, mfg equipment for various special yarns, extruding machines, cut yarn processing equipment, spin beams, gear pump drive units, quench stacks;
Parts: gadget rollers, air separate rollers, spinning packs, static mixers, interface nozzles, air suction guns, air separators, extruder cylinders, extruder screws;
Air Jet Nozzles: for application to: draw twisting machines, spinning machines, direct twisting machines, double twister texturing machines, etc.
Products are exported to USA, India, Indonesia, China, Thailand, Philippines, other,
Clients
[Spinning firms, apparel mfrs] Asahi Chemical Ind, Toray Ind, Kuraray Co, Toray Ind, Kanebo Ltd, Marubeni Corp, Mitsubishi Rayon, Nippon Ester, Teijin Ltd, Unitika Ltd, Sumitomo Metal Finetech, Nipro Corp, Kolon Ind (Korea), Disco Corp, other.
Exports to India, Indonesia, Thailand, China, other S/E Asian countries, USA, other
No. of accounts: 500 (domestic only)
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Oishi Stainless Sangyo, Sanyo Seiko, Takada Shoten, OKK Corp, Maeda Machinery Sales, Yasui Tekkosho, Eiko Kozai, Kuninari Co, other.
Payment record
Regular
Location
Business area in Iwakuni City, Yamaguchi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Yamaguchi Bank (Iwakuni)
Momiji Bank (Iwakuni)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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450 |
434 |
463 |
366 |
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Recur.
Profit |
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5 |
-22 |
3 |
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Net
Profit |
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5 |
-22 |
5 |
-49 |
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Total
Assets |
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702 |
698 |
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Current
Assets |
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591 |
574 |
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Current
Liabs |
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277 |
288 |
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Net
Worth |
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158 |
191 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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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 |
3.69 |
-6.26 |
26.50 |
-36.01 |
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Current Ratio |
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.. |
213.36 |
199.31 |
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N.Worth Ratio |
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22.51 |
27.36 |
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R.Profit/Sales |
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1.11 |
-5.07 |
0.65 |
.. |
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N.Profit/Sales |
1.11 |
-5.07 |
1.08 |
-13.39 |
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Return On Equity |
.. |
-13.92 |
2.62 |
.. |
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Notes: Forecast (or estimated) figures for the 31/10/2008
fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)