MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMACHU LAM TECH CO LTD |
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Registered Office : |
5-391Shimoatsuzaki Nasushiobara City Tochigi-Pref 325-0025 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
February 2005 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of
Plywood |
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 13.8 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
EMACHU LAM TECH CO LTD
REGD NAME: Emachu Lam Tech KK
MAIN OFFICE: 5-391Shimoatsuzaki
Nasushiobara City Tochigi-Pref 325-0025 JAPAN
Tel:
0287-63-9877 Fax: 0287-62-6158
URL: http://www.emply.co.jp (of the
parent, \emachu Plywood Co Ltd)
E-Mail address: info@emply.co.jp
ACTIVITIES
Mfg of plywood
BRANCHES
Nil
FACTORY(IES)
At the caption address
OFFICER(S)
TETSUO EMA, PRES
Kazuo Takahashi, dir
Ryozo Ema, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 819 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND STEADY WORTH Yen 27 M
STARTED 2005 EMPLOYES 22
COMMENT
MFR OF PLYWOOD.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 13.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of an international trading division sepa-rated from Emachu Plywood Co Ltd, a lumber trader, Tokyo. Specializes in mfg plywood. Material woods are imported. Clients are lumber traders.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 819 million, a 35% up from Yen 605 million in the previous term. Business continued growing on the back of parent’s network. The operations, however, continued in the red to post Yen 10 million net loss for the term. This compares with Yen 13 million net loss for the last term. Higher costs of operations and materials ate into profits.
For the current term ending Mar 2008 the operations are expected to come back to profitability but still remain at a minimum amount post-taxes, on a 15% rise in turnover, to Yen 940 million.
The financial situation is considered RATHER WEAK and good for MODERATE business en-gagements. Max credit limit is estimated at Yen 13.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 2005
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4,000
shares
Issued: 1,000
shares
Sum: Yen
50 million
Major shareholders (%)
Emachu Plywood Co Ltd*(70),
Emachu Holdings Co Ltd (30)
No. of shareholders: 2
:* Trading house of lumber, founded 1958, capital Yen 100
million, turnover Yen 5,543 million, recurring
profit Yen 47 million, net profit Yen 30 million, employees 40, pres Tetsuo Ema
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures plywood (100%).
Clients
[Mfrs, wholesalers] Emachu Plywood, Emachu Holdings, Kanematsu-NHK Corp, Green Houser, other
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Emachu Plywood, Emachu Holdings, other
Payment record
Regular
Location
Business
area in Nasushiobara City, Tochigi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Resona Bank (Asakusa)
Ashikaga Bank (Kuroiso)
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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940 |
819 |
605 |
42 |
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Recur.
Profit |
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Net
Profit |
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0 |
-10 |
-13 |
0 |
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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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27 |
37 |
40 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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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 |
14.77 |
35.37 |
1,340.48 |
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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 |
0.00 |
-1.22 |
-2.15 |
0.00 |
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Notes: Financials are only partially disclosed.
The 31/03/2005 is the initial accounting term from the
inception.
Forecast (or estimated) figures for the 31/03/2008 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%)