MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAIGAI INK MFG CO LTD |
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Registered Office : |
8-10-1 Ebie Fukushimaku Osaka 553-0001 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2008 |
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Date of Incorporation : |
December 1935 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Printing,
Ink-Jet Ink, Other |
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 50.7 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
NAIGAI INK MFG CO LTD
REGD NAME: Naigai Ink Seizo KK
MAIN OFFICE: 8-10-1 Ebie Fukushimaku Osaka 553-0001 JAPAN
Tel:
06-6458-1161 Fax: 06-6458-2808
URL: http://www.naigaiink.com/
E-Mail address: naigaiex@minos.ocn.ne.jp
ACTIVITIES
Mfg of printing, ink-jet ink,
other
BRANCHES
Tokyo, Nagoya, Kyoto
FACTORY(IES)
At the caption address
OFFICER(S)
KAZUO YOSHIKAWA, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,900 M
PAYMENTS REGULAR CAPITAL Yen 85 M
TREND SLOW WORTH Yen 171 M
STARTED 1935 EMPLOYES 85
COMMENT
MFR SPECIALIZING IN PRINTING
INK.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
50.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was
established originally in 1910 and was incorporated in 1935 by father of Kazuo
Yoshikawa, current president.
Specializes in mfg offset printing inks, special inks, ink-jet ink,
other. Goods are distributed by about
40 agent dealers in domestic and 25 companies overseas. Products are also exported to USA, Europe,
Asia, other.
FINANCIAL INFORMATION
Financials are only partially
disclosed, and in rounded-off numbers.
The sales volume for Sept/2007
fiscal term amounted to Yen 2,900 million, a 3% down from Yen 3,000 million in
the previous term. Exports slowed. The net profit remained similar at Yen 3
million..
For the term that ended Sept 2008
the net profit was projected and believed posted at Yen 3 million, on a similar
turnover, at Yen 2,900 million. Yen’s
appreciation may have reduced sales turnover.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 50.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1935
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 680,000 shares
Issued: 170,726 shares
Sum: Yen
85.36 million
Major shareholders (%)
Kazuo Yoshikawa & families
(--100)
No. of shareholders: 7
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION
Activities: Manufactures various
kind of printing inks: offset printing ink, special inks, hot wax carbon ink,
conductive ink, ink-jet ink, thermal transfer ribbon, other, also supplies
thermal paper, business forms press & label printing press, related
products (--100%).
Products are distributed by about
40 agent dealers domestically and 25 agents overseas.
Clients
[Printing houses] Naigai Carbon
Ink (subsidiary dealer), Japan Offset, Naigai Ink Chugoku Hambai, other.
Exports to USA, Europe, Asia,
other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers
[Mfrs, wholesalers] Fuji Film Graphic Systems, Sakata Inks, Nagase
Corp, Yamamoto Kasei, other.
Payment record:
Regular
Location: Business
area in Osaka. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
SMBC (Nishinoda)
Resona Bank (Noda)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/09/2008 |
30/09/2007 |
30/09/2006 |
30/09/2005 |
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Annual Sales |
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2,900 |
2,900 |
3,000 |
3,100 |
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Recur. Profit |
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Net Profit |
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3 |
3 |
3 |
3 |
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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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171 |
168 |
165 |
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Capital, Paid-Up |
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85 |
85 |
85 |
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Div.P.Share(¥) |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.00 |
-3.33 |
-3.23 |
-11.43 |
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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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N.Profit/Sales |
0.10 |
0.10 |
0.10 |
0.10 |
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Notes: Financials are only
partially disclosed.
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.49.84 |
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UK Pound |
1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)