MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIKKO MACHINERY LTD |
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Registered Office : |
Nikko Bldg 4F, 2-20-3 Nakagawa-Nishi Ikunoku Osaka 544-0032 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
December 1984 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of Carton Manufacturer Equipment, Paper Feeders,
Cutting Machines & Related |
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 5.3 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
NIKKO MACHINERY LTD
REGD NAME: Nikko Machinery KK
MAIN OFFICE: Nikko Bldg 4F, 2-20-3
Nakagawa-Nishi Ikunoku Osaka 544-0032 JAPAN
Tel:
06-6716-1297 Fax: 06-6716-1298
URL: http://www.nikko-machinery.com (under repair)
ACTIVITIES
Export of carton mfg equipment, paper feeders, cutting
machines & related
BRANCHES
Nil
OFFICERS
AKIHIKO NISHIHARA, PRES
C G Soh, dir (phonetically spelled) (宗鎮元)
Yoshiteru Nishihara, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 367 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 18 M
STARTED 1984 EMPLOYES 6
COMMENT
EXPORTER
SPECIALIZING IN PAPERBOARD CARTON MFG EQUIPMENT. FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 5.3 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Akihiko Nishihara in order to make most of his experience in the subject line of business. A small-sized trading firm specializing in exporting paperboard boxes/cartons mfg equipment and associated accessories. Goods are exported world-widely to USA, Europe, Asia, etc. Also imports paper cutting machines from China. Goods for export are supplied from domestic specialty mfrs.
FINANCIAL INFORMATION
Digested
Financials have been released for the 30/09/2007 fiscal term, as follows:
The
sales volume for Sept/2007 fiscal term amounted to Yen 367 million, a 36% sharp
rise from Yen 270 million in the previous term. Export networks were expanded, including China where demand was
robust. Weaker Yen also assisted to
raise sales in Yen terms. The recurring
profit was posted at Yen 1 million and the net profit at Yen 1 million,
respectively, compared with Yen 2 million net profit a year ago. Import volume also leaped.
For
the current term ending Sept 2008 the net profit is projected at Yen 2 million,
on a 4% rise in turnover, to Yen 380 million.
Business is observed taking a steady course of expansion.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 5.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1984
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%)
Akihiko Nishihara (75), C G Soh (15), Yoshiteru Nishihara
(10)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Exports paperboard carton/box mfg machines & equipment, paper feeders, cutting machines, and associated parts & accessories (--85%); imports automatic platen cutting & creasing machines from China, others (--15%).
Export destinations: USA, Europe, Australia, Singapore, Indonesia, Malaysia, Hong Kong, Korea, other S/E Asian countries, other.
Clients
[Mfrs, wholesalers] Exports to Malaysia, Indonesia, Singapore, Hong Kong, China, Korea, other S/E Asian countries, USA, Europe, Australia, etc.
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Futagami Iron Works, Hamamatsu Textile, Toyo Ink Mfg, Shanghai Eterna, Ace Machinery, other.
Imports from China, etc.
Payment record
Regular
Location
Business
area in Osaka. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
SMBC (Imazato)
MUFJ (Ueroku)
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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380 |
367 |
270 |
250 |
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Recur.
Profit |
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1 |
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Net
Profit |
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2 |
1 |
2 |
2 |
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Total
Assets |
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127 |
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Current
Assets |
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121 |
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Current
Liabs |
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108 |
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Net
Worth |
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18 |
17 |
15 |
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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 |
3.54 |
35.93 |
8.00 |
-16.67 |
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Current Ratio |
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.. |
112.04 |
.. |
.. |
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N.Worth Ratio |
.. |
14.17 |
.. |
.. |
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R.Profit/Sales |
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.. |
0.27 |
.. |
.. |
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N.Profit/Sales |
0.53 |
0.27 |
0.74 |
0.80 |
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Return On Equity |
.. |
5.56 |
11.76 |
13.33 |
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Note: Digested Financials have been released for the
30/09/2007 fiscal term.
Forecast (or estimated) for the 30/09/2008 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%)