MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAKEN ABRASIVE PRODUCTS CO LTD |
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Registered Office : |
5-23-6 Kameido Kotoku Tokyo 136-0071 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2008 |
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Date of Incorporation : |
February 1961 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Abrasives |
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 6.9 MILLION |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
KAKEN ABRASIVE
PRODUCTS CO LTD
REGD NAME: Kaken Kogyo KK
MAIN OFFICE: 5-23-6 Kameido Kotoku Tokyo 136-0071 JAPAN
Tel:
03-3684-8031 Fax: 03-3684-8042
* The given
address is its Chiba Factory at: 217-1 Nakanocho Wakabaku Chiba-Pref
E-Mail address:info@kaken.net
ACTIVITIES
Mfg of abrasives
BRANCHES
Sano
FACTORY(IES)
Chiba (as given)
OFFICER(S)
YOSHIMI YOSHIKAWA, PRES
Etsuko Takahashi, dir
Tohru Takahashi, dir
Chozo Nagai, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 651 M
PAYMENTS REGULAR CAPITAL Yen 11 M
TREND ^STEADY WORTH Yen 49 M
STARTED 1961 EMPLOYES 33
COMMENT
MFR SPECIALIZING IN ABRASIVES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 6.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1958 by Yoshimi Yoshikawa, on his account and was incorporated in 1961. A family-based mfr of abrasives. Clients are mfrs in the similar line of business. Business is seen solid with steady clients.
FINANCIAL INFORMATION
The sales volume for Feb/2008 fiscal term amounted to Yen 642 million, a slight down from Yen 651 million in the previous term. The net profit was posted at Yen 2 million, compared with Yen 3 million a year ago.
For the current term ending Feb/2009 the net profit is projected at Yen 3 million, on a 5% rise in turnover, to Yen 675 million.
The financial situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is estimated at Yen 6.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued: 22,000 shares
Sum: Yen 11 million
Major shareholders (%)
Yoshimi Yoshikawa (70)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures abrasives (100%).
Clients
[Mfrs, wholesalers] Sanshin Co, Onoguchi Shoji, Taiyo Nippon Sanso, other.
No. of accounts: 500
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Sanshin Co, Japan Life Co, Gunei Chemical Ind, Japan Light Metal Ind, Tatsuo Shokai, Saint-Gobain KK, other.
Payment record: Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Kameido)
MFUG (Kameido)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
28/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual
Sales |
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642 |
651 |
641 |
624 |
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Recur.
Profit |
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Net
Profit |
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8 |
2 |
3 |
4 |
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Total
Assets |
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312 |
399 |
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Current
Assets |
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237 |
228 |
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Current
Liabs |
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160 |
164 |
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Net
Worth |
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49 |
48 |
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Capital,
Paid-Up |
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11 |
11 |
11 |
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Div.P.Share(¥) |
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30.00 |
30.00 |
30.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
-1.38 |
1.56 |
2.72 |
4.52 |
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Current Ratio |
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.. |
148.13 |
139.02 |
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N.Worth Ratio |
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15.71 |
12.03 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
1.25 |
0.31 |
0.47 |
0.64 |
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Return On Equity |
.. |
4.08 |
6.25 |
.. |
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Notes: Results for the 28/02/2008 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.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)