MIRA
INFORM REPORT
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Report Date : |
12.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
OHMI INDUSTRIES LTD |
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Registered Office : |
3-11-10 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
Oct 1977 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of steel, steel products |
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 256.3 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
NAME
OHMI INDUSTRIES LTD
REGD NAME
Ohmi Industries KK
MAIN OFFICE
3-11-10 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel : 06-6252-2470
Fax : 06-6252-9884
URL : http://www.ohmi-sangyo.co.jp/
E-Mail address: ohmi@ohmiind.co.jp
ACTIVITIES
Export of steel, steel products
BRANCHES
Tokyo
OFFICER(S)
KATSUHIKO KOYAGI, PRES
Eiji Sakoh, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 11,386 M
PAYMENTS REGULAR CAPITAL Yen 200 M
TREND STEADY WORTH Yen 685 M
STARTED 1977 EMPLOYES 16
COMMENT
TRADING FIRM SPECIALIZING IN STEEL & PRODUCTS. FINANCIAL SITUATION CONSIDERED FAIR AND
GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 256.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of Export Division separated from Ohmi Sangyo Co Ltd, steel service center operator, at the caption address (See REGISTRATION). The subject firm specializes in exporting steel products: HR/CR for re-rolling, coated sheets, automotive steel, other. 40% of the products are exported into India, other to Africa, etc.
FINANCIAL INFORMATION
The sales volume for Sept/2006 fiscal term amounted to Yen
11,386 million, a 37% steep rise from Yen 8,517 million in the previous
term. This is attributed largely to the
sharp hike of steel & products prices, added to weaker Yen that raised sales
in Yen terms. The recurring profit was
posted at Yen 135 million and the net profit at Yen 146 million, respectively,
compared with Yen 56 million recurring profit and Yen 28 million net profit,
respectively, a year ago.
For the term ended Sept 2007 the net profit was projected at and
believed posted at Yen 145 million, on a 5% rise in turnover, to Yen 12,000
million. Final results are yet to be
released.
The financial situation is considered maintained FAIR and good
for ORDINARY business engagements. Max
credit limit is estimated at Yen 256.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
1977
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1.6
million shares
Issued: 400,000
shares
Sum: Yen
200 million
Major shareholders (%): Ohmi
Sangyo Co Ltd*(50), Taiyo Fudosan (30), Katsuhiko Koyagi (14)
No. of shareholders: 9
* Steel center operation of shot blast line, at the caption
address, founded 1950, capital Yen 450 million, turnover Yen 19,000 million,
net profit Yen 19 million, employees 116, pres N Koyagi
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Exports HR/CR for re-rolling (50%), coated steel sheets (40%), automotive steel, others (--10%).
Also handles: steel sheet galvanizing equipment, color coating line, corrugating, roll forming machines, leveling & shearing line, slitting line, metal sheets process line, wire & nail making machines, others.
Exports to India (40%), Africa (30%), other to Pakistan,
Bangladesh, Oceania (30%).
Clients: [Mfrs, wholesalers] Exports to India (40%), Africa
(30%), Bangladesh, Pakistan, Oceania, other (30%).
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Steel mfrs, wholesalers] Metal One, Kawasho Corp,
Sumitomo Metal Ind, Nisshin Steel Ind, JFE Steel, Nippon Steel, Sumitomo Corp,
other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
MUFG (Semba)
Mizuho Bank (Minamisemba)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/09/2007 |
30/09/2006 |
30/09/2005 |
30/09/2004 |
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Annual Sales |
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12,000 |
11,386 |
8,517 |
7,215 |
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Recur. Profit |
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135 |
56 |
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Net Profit |
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145 |
146 |
28 |
30 |
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Total Assets |
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2,335 |
2,223 |
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Current Assets |
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1,814 |
903 |
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Current Liabs |
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1,333 |
585 |
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Net Worth |
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685 |
548 |
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Capital, Paid-Up |
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200 |
200 |
200 |
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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 |
5.39 |
33.69 |
18.05 |
2.92 |
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Current Ratio |
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.. |
136.08 |
154.36 |
.. |
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N.Worth Ratio |
.. |
29.34 |
24.65 |
.. |
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R.Profit/Sales |
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.. |
1.19 |
0.66 |
.. |
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N.Profit/Sales |
1.21 |
1.28 |
0.33 |
0.42 |
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Return On Equity |
.. |
21.31 |
5.11 |
.. |
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Notes: Forecast (or estimated) figures for the 30/09/2007
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%)