MIRA
INFORM REPORT
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Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
KIWA CHEMICAL INDUSTRY CO LTD |
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Registered Office : |
33 Minamitanabecho Wakayama 640-8254 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
December 1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Dyestuffs |
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 234.9 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
KIWA CHEMICAL
INDUSTRY CO LTD
REGD NAME: Kiwa Kagaku Kogyo KK
MAIN OFFICE: 33 Minamitanabecho Wakayama 640-8254 JAPAN
Tel:
073-423-3211 Fax: 073-425-9338
URL: http://www.kiwa-chem.com/
E-Mail address:web-master@kiwa-chem.com
ACTIVITIES
Mfg of dyestuffs
BRANCHES
Nil
FACTORY(IES)
Omatsu, Uzu (--Wakayama)
OFFICER(S)
NOBORU ETOH, PRES
Yasumasa Nakashiba, mgn dir
Yoshifumi Tanaka, mgn dir
Shunji Maekawa, mgn dir
Masahiro Furuta, dir
Akira Ohtsubo, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,977 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 5,421 M
STARTED 1954 EMPLOYES 175
COMMENT
MFR OF DYESTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 234.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a division separated from Sakai Trading Co Ltd, trading house specializing in chemicals, Osaka, and became independent. Specializes in mfg various types of dyestuffs (See OPERATION) owned by Takimoto family. Materials are imported. Goods are shipped to mfrs, wholesalers, other.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 6,977 million, a slight down from Yen 6,985 million in the previous term. The recurring profit was posted at Yen 749 million and the net profit at Yen 470 million, respectively, compared with Yen 664 million recurring profit and Yen 405 net profit, respectively, a year ago. Profits improved due to drastic costs cuts including operations.
For the term that ended Mar 2008 the net profit was projected at Yen 500 million, on a 5% rise in turnover, to Yen 7,300 million. Rising prices of materials pushed the sales upwards.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 234.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1954
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major shareholders (%)
Sumiyo Takimoto (25), Mikiko Takimoto (24), Yasumasa Nakashiba (23), Okahata Sangyo KK (10)
No. of shareholders: 19
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures dyestuffs: disperse, acid, reactive, transfer printing, action types), plastic colorings, naphthaol, other (--100%)
Clients
[Mfrs, wholesalers] Sumisho Plastic, Sakai Trading Co, OG Corp, Shinwa Sangyo, Emori & Co, other
No. of accounts: 500
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Sakai Trading, Okahara Sangyo, Shinwa Sangyo, Koa & Co, Sankyo Shoji, Inoue Mago, other.
Payment record
Regular
Location
Business area in Wakayama. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Kiyo Bank (H/O)
SMBC (Wakayama)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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7,300 |
6,977 |
6,985 |
6,500 |
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Recur.
Profit |
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749 |
664 |
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Net
Profit |
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500 |
470 |
405 |
251 |
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Total
Assets |
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10,039 |
10,097 |
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Current
Assets |
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5,395 |
5,045 |
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Current
Liabs |
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2,436 |
2,614 |
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Net
Worth |
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5,421 |
4,993 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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1000.00 |
1000.00 |
1000.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.63 |
-0.11 |
7.46 |
-9.38 |
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Current Ratio |
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.. |
221.47 |
193.00 |
.. |
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N.Worth Ratio |
.. |
54.00 |
49.45 |
.. |
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R.Profit/Sales |
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.. |
10.74 |
9.51 |
.. |
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N.Profit/Sales |
6.85 |
6.74 |
5.80 |
3.86 |
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Return On Equity |
.. |
8.67 |
8.11 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008
fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)