MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
MUTOH UNIPACK CO LTD |
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Registered Office : |
1-7-12 Eitai Kotoku Tokyo 135-0034 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
May 1953 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of Envelopes, Name Cards, Greeting Cards,
Other Office Supplies |
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 143.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
MUTOH UNIPACK CO LTD
REGD NAME: KK Mutoh Unipack
MAIN OFFICE: 1-7-12 Eitai Kotoku
Tokyo 135-0034 JAPAN
Tel:
03-3642-1141 Fax: 03-3643-6654
*..
Registered at: 1-2-1 Eitai Kotoku Tokyo
URL: http://www.mutoh-u.co.jp/
E-Mail address: tokuhan@mutoh-u.co.jp
ACTIVITIES
Mfg of envelopes, name cards, greeting cards, other office
supplies
BRANCHES
Tokyo (3), Chiba, Yokohama, Tochigi, Saitama, Maebashi,
other (Tot 10)
FACTORY(IES)
At the caption address, Tochigi (2)
OFFICER(S)
Shoichi Mutoh, ch
YOSHIMOTO MUTOH, PRES
Yugo Mutoh, mgn dir
Hitoshi Kawarai, mgn dir
Haruo Suzaki, dir
Takao Ooki, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,123 M
PAYMENTS REGULAR CAPITAL Yen 90 M
TREND STEADY WORTH Yen 1,595 M
STARTED 1963 EMPLOYES 358
COMMENT
MFR SPECIALIZING IN OFFICE-USE ENVELOPES & OFFICE SUPPLIES. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$175,000 / DP SIGHT
MAX CREDIT LIMIT
YEN 143.4 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was
established originally in 1949 by Shoichi Mutoh as an envelope maker, on his
account, and was incorporated in 1953 as Mutoh Seitai KK (Seitai means mfg of
packs). Shoichi serves as ch at the
firm. Yoshimoto is his son. The firm is essentially owned and operated
by the Mutoh family. In 1970 renamed as
captioned. Specializes in mfg various
types of office-use envelopes, supplying to major banks, publishers, government
agencies, universities, telecommunications carriers, insurance companies, etc,
nationwide. In 1975, launched the card
division for making and printing name cards, greeting cards, other. In 1995, opened the information system
division to handle DM services, other marketing PR services. In Apr 2005, separated this division to
establish KK Unipack Direct.
FINANCIAL INFORMATION
The
firm stopped disclosing full financials as from the 31/03/2004 fiscal term,
only except the following partial figures.
The
sales volume for Mar/2007 fiscal term amounted to Yen 8,123 million, a slight
rise from Yen 8,023 million in the previous term. The operations plunged into red to post Yen 3 million net loss
for the term. This is referred to the
rising costs of fuels and materials.
This compares with Yen 22 million net profit a year ago.
For
the current term ending Mar 2008 the net profit is projected at Yen 20 million,
on an almost similar turnover, at Yen 8,200 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 143.4 million, on 30 days normal terms. The proposed amount is considered within the
firm’s financial capabilities.
REGISTRATION
Date Registered: May 1953
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 384,000
shares
Issued: 180,000
shares
Sum: Yen
90 million
Major shareholders (%)
Takemoto Unyu Soko (15.5), Yoshimoto Mutoh (8.0), Yugo
Mutoh (7.0), Yumiko Kobayashi (2.4)
No. of shareholders: 23
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures
office-use side-opening envelopes, end-opening envelopes, window-type
envelopes, various other made-to-order envelopes (--90%), name cards, greeting cards, receipts, certificates,
other office supplies (--10%).
DM
Division was separated as an independent company, KK Unipack Direct in May
2006, handling DM materials, marketing PR supplies, etc.
Clients
[Business
firms, government offices, banks, universities] Dai-ichi Life Ins, NTT East, Bank of Japan, Ministry of Finance,
Tokyo Tomin Bank, Tokyo Univ, Mitsubishi Trust Bank, Nomura Securities, Kokusai Securities, Gakken Co, Aioi Ins,
Toppan Printing, other.
No. of accounts
3,500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs,
wholesalers] Kokusai Pulp & Paper, Shikoku Yoshiten, Nishiki Kamishoji,
Fukoku Shigyo, Shiozawa, M&N, Fuji Seitai Kogyo, Japan Paper & Pulp
Trading, Okura Sanko Co, Sanmic
Corp, other.
Payment record
Regular
Location
Business
area in Tokyo. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
Tokyo Tomin Bank (Kayabacho)
Mizuho Bank (Fukagawa)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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8,200 |
8,123 |
8,024 |
8,031 |
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Recur.
Profit |
(*) |
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85 |
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Net
Profit |
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20 |
-3 |
22 |
45 |
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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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1,595 |
1,598 |
1,558 |
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Capital,
Paid-Up |
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90 |
90 |
72 |
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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 |
0.95 |
1.23 |
-0.09 |
1.12 |
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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 |
0.24 |
-0.04 |
0.27 |
0.56 |
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Notes: The firm stopped releasing full financials as from
the 31/03/2004 fiscal term.
Forecast figures for the 31/03/2008 fiscal term.
(*) Data disclosed from the Taxation Office as the pretax
profits.
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%)