MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAROX CO LTD |
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Registered Office : |
3-1-11 Kindacho Moriguchi City Osaka-Pref 570-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
September 1991 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer, Importer, wholesaler of Artificial Turf,
Seeds and Seedlings |
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 94.1 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
TAROX CO LTD
REGD NAME: Tarox KK
MAIN OFFICE: 3-1-11 Kindacho
Moriguchi City Osaka-Pref 570-0011 JAPAN
Tel:
06-6902-9401 Fax: 06-6905-9070
URL: http://www.rontai.co.jp
E-Mail address: sales@rontai.co.jp
ACTIVITIES
Mfg, import, wholesale of artificial turf, seeds &
seedlings
BRANCHES
Shizuoka, Nara, Hiroshima
FACTORY(IES)
Shizuoka, Nara, Hiroshima
OFFICERS
TARO NAKAGAWA, PRES
Ritsuko Nakagawa, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,793 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen 2,523 M
STARTED 1991 EMPLOYES 34
COMMENT
MFR OF
ARTIFICIAL TURF..
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 94.1 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established on the basis of mfg division separated from Rontai Co Ltd, wholesaler of turfs, at the caption address. This is a trading firm with mfg division specializing in artificial turf. Goods are wholly shipped to the parent. Management and operations are integrated with the parent.
FINANCIAL INFORMATION
The sales volume for Aug/2007 fiscal term amounted to Yen 1,793 million, an almost similar amount in the previous term. The public works slowed due to some scandals involved by some industries. The net profit deteriorated to Yen 149 million, compared with Yen 271 million a year ago. Higher fuel oil prices and materials ate into profits.
For the current term ending Aug 2008 the net profit is projected at Yen 150 million, on a 3% rise in turnover, to Yen 1,850 million. Business is seen picking up.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 94.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1991
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400
shares
Issued: 600
shares
Sum: Yen
30 million
Major shareholders (%)
Taro Nakagawa*(95)
*.. Owns Rontai Co Ltd, at the caption address, wholesaler of artificial turf, founded 1957, capital Yen 63 million, turnover Yen 4,482 million, net profit Yen 110 million, employees 117, pres Taro Nakagawa, concurrently.
No. of Shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Manufactures and imports artificial turf, horticultural supplies, fertilizers, seeds & seedlings, others (--93%), real estate rental (7%)
Clients
[Wholesaler] Shipped wholly to Rontai Co Ltd.
No. of accounts
1
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Chemical mfrs, wholesalers] Moriroku Co, Kaneko Seeds, Daio Chemicals, Snow Brand Seed, Kobunshi Shoji, other.
Payment record
Regular
Location
Business area in Moriguchi City, Osaka-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Moriguchi)
MUFG (Moriguchi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/08/2008 |
31/08/2007 |
31/08/2006 |
31/08/2005 |
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Annual
Sales |
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1,850 |
1,793 |
1,777 |
1,840 |
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Recur.
Profit |
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Net
Profit |
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150 |
149 |
271 |
191 |
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Total
Assets |
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2,894 |
2,781 |
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Current
Assets |
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1,620 |
1,647 |
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Current
Liabs |
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371 |
398 |
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Net
Worth |
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2,523 |
2,382 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
3.18 |
0.90 |
-3.42 |
12.40 |
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Current Ratio |
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436.66 |
413.82 |
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N.Worth Ratio |
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87.18 |
85.65 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
8.11 |
8.31 |
15.25 |
10.38 |
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Return On Equity |
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5.91 |
11.38 |
.. |
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Note: Forecast (or estimated) for the 31/08/2008 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%)