MIRA
INFORM REPORT
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Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HASHIMOTO DENKI CO LTD |
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Registered Office : |
5-1-17 Shindencho Takahama Aichi-Pref 444-1301 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2008 |
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Date of Incorporation : |
August 1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of plywood manufacturer machines, roller
conveyors, other |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
YEN 265.0 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
HASHIMOTO DENKI CO
LTD
REGD NAME: Hashimoto Denki Kogyo KK
MAIN OFFICE: 5-1-17 Shindencho Takahama Aichi-Pref 444-1301
JAPAN
Tel:
0566-53-1866 Fax: 0566-53-6914
E-Mail
address: info@hdk-co.com
ACTIVITIES
Mfg of plywood mfg machines, roller conveyors, other
BRANCHES
Nil
FACTORY(IES)
At the caption address
OFFICER(S)
YASUNORI HASHIMOTO, PRES
Shegeki Takeda, dir
Kiyoshi Nagasawa, dir
Shinjiro Kamiya, dir
Jun’ichiro Hashimoto, dir
Yen
Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,231 M
PAYMENTS REGULAR CAPITAL Yen
96 M
TREND STEADY WORTH Yen
3,315 M
STARTED 1954 EMPLOYES 137
COMMENT
MFR OF PLYWOOD MFG MACHINERY & RELATED.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 265.0 MILLION, 30 DAYS NORMAL
TERMS
HIGHLIGHTS
The
subject company was established originally in 1945 by Saburo Hashimoto for mfg
plywood processing equipment, on his account.
Incorporated in 1954, the firm has been succeeded by his descendants. Yasunori is the founder’s son, who took the
pres office in 1986. Specializes in mfg
plywood mfg machines & equipment centrally, roller conveyers, others (See OPERATION). Goods are also imported and exported.
FINANCIAL INFORMATION
The
sales volume for Jun/2008 fiscal term amounted to Yen 7,231 million, a 16% rise
from Yen 6,224 million in the previous term.
Plywood mfg machines were in rising demand both at home &
abroad. The net profit was posted at
Yen 546 million, compared with Yen 365 million a year ago.
For
the current term ending Jun 2009 the net profit is projected at Yen 530
million, on a 5% fall in turnover, to Yen 6,900 million. Recent financial crisis will affect sales, and
the Yen’s appreciation against foreign currencies will decrease export amount
in Yen terms.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is
estimated at Yen 265.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug
1954
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 768,000
shares
Issued: 192,000
shares
Sum: Yen
96 million
Major shareholders (%)
Yasunori Hashimoto (30),
Employees’ S/Holding Assn (20), Naoshi Aizawa (10), Hashiei Kogyo (5) (Breakdown is all about)
No. of
shareholders: 50-100
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Manufactures, imports & exports plywood mfg machines & related
(--100%).
(Products
lines):
Automatic Production Facilities: basic
palletizing robot, internal debarring system, automatic inking system, reserve
tank welding robot, rear suspension automatic sub-assembly line;
Building Materials Facilities: veneer welder, suction stacker,
panel coating system, scarf joiner, direct system, automatic reeling;
Housing Production Facilities: ALC corner panel, designing
machines, JD jet dryer, container automatic feed system, other.
Clients
[Mfrs, wholesalers] Sumitomo
Forestry Crest, Toyota Tsusho Corp, Seihoku Group, Sanko Plywood, Temco, Okaya
& Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Tokai Shoji,
Uroko Machinery, Itoh Dendo Kogyo, other.
Payment
record: Regular
Location:
Business area in Takahama City, Aichi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Aichi Bank (Kariya)
SMBC (Kariya)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/06/2009 |
30/06/2008 |
30/06/2007 |
30/06/2006 |
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Annual
Sales |
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6,900 |
7,231 |
6,224 |
5,314 |
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Recur.
Profit |
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904 |
581 |
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Net
Profit |
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530 |
546 |
365 |
312 |
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Total
Assets |
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5,802 |
4,491 |
4,553 |
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Current
Assets |
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4,857 |
3,587 |
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Current
Liabs |
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2,366 |
1,620 |
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Net
Worth |
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3,315 |
2,777 |
2,420 |
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Capital,
Paid-Up |
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96 |
96 |
96 |
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Div.P.Share(¥) |
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75.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-4.58 |
16.18 |
17.12 |
30.05 |
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Current Ratio |
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.. |
205.28 |
221.42 |
.. |
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N.Worth Ratio |
.. |
57.14 |
61.83 |
53.15 |
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R.Profit/Sales |
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.. |
12.50 |
9.33 |
.. |
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N.Profit/Sales |
7.68 |
7.55 |
5.86 |
5.87 |
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Return On Equity |
.. |
16.47 |
13.14 |
12.89 |
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Notes: Forecast (or estimated) figures for the 30/06/2009
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.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
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%)