MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAWAGUCHI KASEIHIN CO LTD |
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Registered Office : |
Tachibana AK Bldg 4F, 2-1-12 Tachibana Nakaku Nagoya
460-0016 |
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Country : |
Japan |
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Date of Incorporation : |
May, 1941 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of Industrial Paints; Painting Works |
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 21.0 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
KAWAGUCHI KASEIHIN CO LTD
REGD NAME: Kawaguchi Kaseihin KK
MAIN OFFICE
Tachibana AK Bldg 4F, 2-1-12 Tachibana Nakaku Nagoya 460-0016 JAPAN
Tel: 052-331-6186 Fax: 052-331-6189
URL
E-Mail address
info@kwg.co.jp
ACTIVITIES
Wholesale of industrial paints; painting works
BRANCHES
Nagoya (2) (--warehouses)
OFFICER(S)
Asao Kawaguchi, ch
YOHEI KAWAGUCHI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,193 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 302 M
STARTED 1941 EMPLOYES 17
COMMENT
WHOLESALER SPECIALIZING IN INDUSTRIAL PAINTS; PAINTING WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 21.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1901 by Asajiro Kawaguchi for selling paints & painting tools, on his account. Incorporated in 1941 the firm has been succeeded by his descendants. Yohei Kawaguchi took the pres office in Dec 2007 after his father, Asao Kawaguchi, who promoted to ch. Yohei is the fourth generation master. A family-based company, owned and managed solely by the Kawaguchi family. Specializes in wholesaling industrial paints, coatings, abrasives, other related goods, painting tools & equipment, etc. Also executes painting works. Goods are supplied from major paint mfrs. Clients include major machinery mfrs, electric appliances makers, others, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Oct/2007 fiscal term amounted to Yen 1,193 million, a 4% up from Yen 1,146 million in the previous term. This is attributed to rising housing starts during the term. The net profit, on the other hand, decreased to Yen 23 million from Yen 30 million a year ago. This is referred to the rising costs of materials & operations, hurting profitability.
For the current term ending Oct 2008 the net profit is projected at Yen 22 million, on a similar turnover, at Yen 1,200 million. New housing starts may plunge due to the introduction of revised building standards law.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 21.0 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1941
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 20,000 shares
Sum: Yen 10 million
Major shareholders (%)
Yohei Kawaguchi (21.9), Hiroko Kawaguchi (21.7), Asao Kawaguchi (9.4), Naomi Kawaguchi (7.2)
No. of shareholders
14
Nothing detrimental is known as to ^the commercial morality of executives.
OPERATION
Activities: Wholesales paints & coating materials: paints, paint additives, paint thinners, adhesives, surface treatment chemicals, paint removers, abrasive papers, paint brushes, paint rollers, paint spray guns, other paints-related materials & supplies; executes painting works (--100%).
Goods are also imported.
Clients
[Mfrs, wholesalers] Yamazaki Mazak Corp, Aichi Tokei Denki, Howa Machinery, JTKT Corp, Mitsubishi Electric, Kurodite Inc, Daido Steel, CKD, Meitetsu Jidosha Seibi, Fourmix Inc, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Paint mfrs, wholesalers] Kawakami Toryo, Rock Paint, Tohpe Corp, Nippon Paint, Sansei Paint Mfg, Daishin Chemical, Fujikura Kasei, PPG Japan, Natoco Co, Okitsumo Inc, Nagoya Kagaku Kogyosho, other.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Kanayama)
Aichi Shinkin Bank (Nishiosu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms
Ending: |
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31/10/2008 |
31/10/2007 |
31/10/2006 |
31/10/2005 |
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Annual
Sales |
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1,200 |
1,193 |
1,146 |
1,084 |
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Recur.
Profit |
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Net
Profit |
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22 |
23 |
30 |
12 |
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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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302 |
280 |
251 |
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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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5.00 |
5.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
0.59 |
4.10 |
5.72 |
13.51 |
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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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.. |
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N.Profit/Sales |
1.83 |
1.93 |
2.62 |
1.11 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/10/2008 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%)