MIRA
INFORM REPORT
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Report Date : |
28.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
WELCO CO LTD |
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Registered Office : |
3-3-1 Sumiyoshicho Fuchu Tokyo-Metrop 183-0034 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2008 |
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Date of Incorporation : |
March 1972 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Peristaltic Turbine Pumps |
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 21 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
WELCO CO LTD
REGD NAME: KK Welco
MAIN OFFICE: 3-3-1 Sumiyoshicho Fuchu Tokyo-Metrop 183-0034
JAPAN
Tel:
042-333-7311 Fax: 042-333-7313
URL: http://www.welco-web.co.jp/
E-Mail address:sales@welco.net
ACTIVITIES
Mfg of peristaltic turbine pumps
BRANCHES
Nil
FACTORY(IES)
At the caption address (subcontracted)
OFFICER(S)
YUKIO KON, PRES
Yuichi Kon, mgn dir
Hiroko Kon, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,129 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND STEADY WORTH Yen 904 M
STARTED 1972 EMPLOYES 27
COMMENT
MFR SPECIALIZING IN PERISTALIC TURBINE PUMPS.
FINANCIAL SITUATION CONSIDERED FAOR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 21 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yukio Kon in order to make most of his experience in the subject line of business. A family-based company, specializing in mfg peristaltic turbine pumps and accessories. Products are exported to about 20 countries worldwide. Domestic clients include major mfrs.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2008 fiscal term amounted to Yen 1,129 million, a 17% hike from Yen 969 million in the previous term. Exports rose. Weaker Yen contributed to the sales growth in Yen terms, too. The net profit was posted at Yen 138 million, up from Yen 135 million a year ago. Profitability deteriorated due to higher fuel prices.
For the current term ending Feb 2009 the net profit is projected at Yen 140 million, on a 6% rise in turnover, to Yen 1,200 million.
The financial situation is considered FAIR and good for GOOD business engagements. Max credit limit is estimated at Yen 21 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1972
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 150,000 shares
Issued: 38,750 shares
Sum: Yen 40 million
ajor shareholders (%)
Yukio Kon (70), Yuichi Kon (29), Hiroko Kon (1)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures peristaltic turbine pumps & accessories (--100%)
Clients
[Mfrs, wholesalers] Dainippon Screen Mfg, Shimadz Corp, Ecolab KK, Nippon
Senjoki KK, Saraya, Daiwa Corp, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Aida Print Seisakusho, Matsuyoshi Kogyo, Akita Trans Co, Fuku Musen Denki, other.
Payment record
Regular
Location
Business area in Fuchu City, Tokyo-Metrop. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Yachiyo Bank (Karasuyama)
Tama Shinkin Bank (Nakagahara)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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28/02/2009 |
28/02/2008 |
28/02/2007 |
28/02/2006 |
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Annual
Sales |
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1,200 |
1,129 |
969 |
901 |
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Recur.
Profit |
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Net
Profit |
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140 |
138 |
135 |
99 |
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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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904 |
766 |
631 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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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 |
6.29 |
16.51 |
7.55 |
27.80 |
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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 |
11.67 |
12.22 |
13.93 |
10.99 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 28/02/2009 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%)