MIRA
INFORM REPORT
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Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
OSUGA MOKUZAI KK |
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Registered Office : |
2-112 Kiba Tobishimamura Kaifugun Aichi-Pref 490-1444 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
July 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale, Import of Timber |
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 20.8 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name of the company
OSUGA MOKUZAI KK
REGD NAME: Osuka Mokuzai KK
MAIN OFFICE
2-112 Kiba Tobishimamura Kaifugun Aichi-Pref 490-1444 JAPAN
Tel: 056-755-2386 Fax: 056-755-2388
* Registered and Nagoya Branch Office at: 2-1-26 Masaki Nakaku Nagoya
URL
ACTIVITIES
Wholesale,
import of timber
BRANCHES
Nagoya
OFFICER(S)
Shunzo
Osuka, ch
TAKETO
OSUKA, PRES
Yen Amount
In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,433 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
222 M
STARTED 1947 EMPLOYES 15
COMMENT
WHOLESALER
AND IMPORTER SPECIALIZING IN TIMBER.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN
20.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established originally in 1921 by Shunzo Osuka as a timber
merchant, on his account. Taketo is his
son. This is a wholesaler specializing
in timber and bamboo, particularly timber for wooden boxes. Goods are both imported and exported. One of main exporters of packing-crate wood
in the local area.
FINANCIAL INFORMATION
The
sales volume for Dec/2006 fiscal term amounted to Yen 1,433 million, a 14% up
from Yen 1,255 million in the previous term.
Exports of packaging material timber rose. The recurring profit was posted at Yen 91 million and the net
profit at Yen 49 million, respectively, compared with Yen 36 million recurring
profit and Yen 35 million net profit, respectively, a year ago.
For
the term just ended Dec 2007 the recurring profit was projected and believed
posted at Yen 95 million and net profit at Yen 50 million, respectively, on a
12% rise in turnover, to Yen 1,600 million.
Weaker Yen should have contributed to raise sales in Yen terms.
The
financial situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 20.8 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jul 1947
Legal
Status: Limited Company (Kabushiki
Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum:
Yen 10 million
Major shareholders (%)
Taketo
Osuka (27), Shunzo Osuka (21), Taichi Osuka (8)
No.
of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Wholesales & imports timber, bamboo, building materials; exports timber for
wooden boxes, others (--100%).
Clients
[Timber
dealers, house builders] Tokai Pallet Kogyo, Mabuchi Co, Daiei Kigyo, Hashimoto
Co, other
No.
of accounts: 300
Domestic
areas of activities: Centered in Aichi-Pref & vicinities
Suppliers
[Mfrs,
wholesalers] Sumitomo Forestry, Oji Forest & Products, Sojitz Building
Materials, Hanwa Co, Sezaki Ringyo, Butsurin Co, other.
Payment
record: Regular
Location:
Business area in Tobishimamura, Aichi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Shoko
Chukin Bank (Nagoya)
MUFG
(Kanayama)
Relations:
Satisfactory
FINANCES:
(In Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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1,600 |
1,433 |
1,255 |
1,335 |
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Recur. Profit |
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95 |
91 |
36 |
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Net Profit |
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50 |
49 |
35 |
-16 |
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Total Assets |
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1,212 |
1,006 |
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Current Assets |
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840 |
805 |
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Current Liabs |
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504 |
332 |
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Net Worth |
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222 |
173 |
138 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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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 |
11.65 |
14.18 |
-5.99 |
23.15 |
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Current Ratio |
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.. |
166.67 |
242.47 |
.. |
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N.Worth Ratio |
.. |
18.32 |
17.20 |
.. |
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R.Profit/Sales |
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5.94 |
6.35 |
2.87 |
.. |
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N.Profit/Sales |
3.13 |
3.42 |
2.79 |
-1.20 |
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Return On Equity |
.. |
22.07 |
20.23 |
-11.59 |
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Notes:
Forecast (or estimated) figures for the 31/12/2007 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%)