MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIPPON HOIST CO LTD |
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Registered Office : |
258-4 Tsunogo-cho Fukuyama City Hiroshima-Pref 720-0841 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
January 1961 |
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Com. Reg. No.: |
Manufacturer of Hoists, Cranes |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacture of Hoists,
Cranes, Peripherals |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 1,023.1 Million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
name & address
NIPPON HOIST CO
LTD
REGD NAME: Nippon Hoisuto KK
MAIN OFFICE: 258-4 Tsunogo-cho Fukuyama City Hiroshima-Pref
720-0841 JAPAN
Tel:
084-951-2211 Fax: 084-951-3005
URL: http://www.nipponhoist.co.jp/
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of hoists, cranes
BRANCHES
Tokyo, Osaka, Nagoya, Yokohama, Hiroshima, Fukuoka, Sapporo, Sendai,
Niigata, Shizuoka, Tatebayashi,
Marugame, other (Tot 22)
FACTORY(IES)
At the caption address (3 factories)
OFFICER(S)
Sakae Murakami, ch
MASASHI MURAKAMI, PRES
Kunihiko Takahashi, v pres
Sadame Tsuchiya, s/mgn dir
Yasunori Tsuchiya, mgn dir
Katsuo Shibata, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 18,995 M
PAYMENTS REGULAR CAPITAL Yen 600 M
TREND STEADY WORTH Yen 24,541 M
STARTED 1961 EMPLOYES 240
COMMENT
MFR OF HOISTS & CRANES.
FINANCIAL SITUATION CONSIDERED GOOD AND RESPONSIBLE FOR ORDI- NARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 1,023.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1950 by Matsuo Murakami for making electric hoists, as Murakami Machine Works Co Ltd. Incorporated in 1961, the firm has been succeeded by his descendants. Corporate name changed as captioned. This is a specialized mfr of hoists & cranes (See OPERATION). Tops in electric hoists. Products are distributed thru agent dealers nationwide.
FINANCIAL INFORMATION
The sales volume for Sept/2007 fiscal term amounted to Yen 18,995 million, a 21% rise from Yen 15,718 million in the previous term. Demand increased, particularly from shipping/shipbuilding industries for gantry cranes, other. The recurring profit was posted at Yen 4,412 million and the net profit at Yen 2,443 million, respectively, compared with Yen 3,236 million recurring profit and Yen 1,805 million net profit, respectively, a year ago.
For the current term ending Sept 2008 the recurring profit is projected at Yen 4,500 million and the net profit at Yen 2,500 million, respectively, on an 11% rise in turnover, to Yen 21,000 million. Business continues rising.
The financial situation is considered GOOD and responsible for ORDINARY business
engagements. Max credit limit is estimated at Yen 1,023.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.9 million shares
Issued: 1.2 million shares
Sum: Yen 600 million
Major shareholders (%)
Matsutomi Kosan KK (18), Nippon Shoryoku Sangyo Kenkyusho (17), Nichiho Kosan (14), DC Kaihatsu Kenkyusho (13)
No. of shareholders: 20 (about)
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures hoists, cranes, peripherals (--100%).
(Main Products): hoists (0.5t~505), overhead traveling cranes, gantry cranes, semi-gantry cranes, Jib cranes, cranes for vessels, non-rail cranes, automatic transfer cranes, crane parts, electric parts for cranes, crane inverter, belt sling, rotary sling, electric winch, electric carrier, radio control equipment, golf course lifts, two-level parking apparatus, others.
Clients: [Construction firms, wholesalers, mfrs] Matsumoto & Co, Yuasa Trading, Yamazen Corp, Sugimoto & Co, other
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Matsushita Electric Inc, Metal One West Japan, Toshiba
Industrial Products, Ryosan Shoji, Teikoku Electric Mfg, other.
Payment record
Regular
Location
Business area in Fukuyama, Hiroshima-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Chugoku Bank (Fukuyama)
MUFG (Fukuyama)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual
Sales |
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21,000 |
18,995 |
15,718 |
12,873 |
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Recur.
Profit |
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4,500 |
4,412 |
3,236 |
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Net
Profit |
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2,500 |
2,443 |
1,805 |
1,562 |
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Total
Assets |
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30,557 |
28,360 |
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Current
Assets |
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9,384 |
9,052 |
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Current
Liabs |
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3,769 |
3,391 |
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Net
Worth |
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24,541 |
22,774 |
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Capital,
Paid-Up |
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600 |
600 |
600 |
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Div.P.Share(¥) |
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480.00 |
480.00 |
480.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.56 |
20.85 |
22.10 |
27.14 |
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Current Ratio |
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.. |
248.98 |
266.94 |
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N.Worth Ratio |
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80.31 |
80.30 |
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R.Profit/Sales |
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21.43 |
23.23 |
20.59 |
.. |
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N.Profit/Sales |
11.90 |
12.86 |
11.48 |
12.13 |
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Return On Equity |
.. |
9.95 |
7.93 |
.. |
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Notes: Forecast (or estimated) figures for the 30/09/2008 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.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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%)