MIRA
INFORM REPORT
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Report Date : |
15.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
OJI FOREST & PRODUCTS CO LTD |
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Registered Office : |
1-1-1 Shinkiba Kotoku Tokyo 136-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
August 1937 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Engineering Works of Tree-Planting, Gardening, Afforestation
Projects, Other |
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 805 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
OJI FOREST & PRODUCTS CO LTD
REGD NAME: Oji Mokuzai Ryokka KK
MAIN OFFICE: 1-1-1 Shinkiba Kotoku
Tokyo 136-0032 JAPAN
Tel :
03-3521-5126
Fax : 03-5534-2883
URL: http://www.oji-ryokka.co.jp/
E-Mail address: office@oji-timber.co.jp
ACTIVITIES
Engineering works of tree-planting, gardening, afforestation
projects, other
BRANCHES
Hokkaido (22), Tokyo (5), Saitama (3), Hiroshima (2),
Sendai, other (Tot 67)
OFFICER(S)
MASATOSHI SUZUKI, PRES
Nobuyuki Yamaguchi, s/mgn dir
Miki Hosoda, dir
Katsushige Oishi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 67,985 M
PAYMENTS REGULAR CAPITAL Yen 288 M
TREND STEADY WORTH Yen 6,232 M
STARTED 1937 EMPLOYES 343
COMMENT
ENGINEERING FRIM SPECIALIZING IN FORESTRY & LANDSCAPING, ONWED BY OJI PAPER CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARYI
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 805 MILLION, 30 DAYS NORMAL
TERMS
HIGHLIGHTS
The subject company was established originally as a forestry company, Oji Zorin KK, and later renamed Oji Forest & Landscaping Co Ltd, as Oji Group firm. In Apr 2003, absorbed a sister company, Oji Timber Co Ltd and renamed as captioned, in order to streamline redundant operations. This is an engineering company specializing in tree-planting, gardening (greening), landscaping, afforestation projects, timber processing works, paper-making materials, health foods, other.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 67,985 million, a 6% up from Yen 64,092 million in the previous term. Afforestation & greening works expanded. The recurring profit was posted at Yen 1,465 million and the net profit at Yen 1,469 million, respectively, compared with Yen 1,331 million recurring profit and Yen 645 million net profit, respectively, a year ago.
For the current term ending Mar 2008 the net profit is projected at Yen 1,500 million, on a 2% rise in turnover, to Yen 69,000 million.
The financial situation is considered FAIR and good for ORDINARYI business engagements. Max credit limit is estimated at Yen 805 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1937
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 23 million shares
Issued: 5,761,200 shares
Sum: Yen 288,060,000
Major shareholders (%)
Oji Paper Co Ltd*(100)
* One of two largest mfrs of papers, Tokyo, founded 1949,
listed Tokyo, Osaka S/E’s, capital Yen
103,880 million, turnover Yen 1,265,735 million, operating profit Yen 63,186
million, recurring
profit Yen 64,110 million, net profit Yen 17,150 million, total assets Yen
1,790,515 million,
net worth Yen 520,111 million, employees 19,560, pres Kazuhisa Shinoda
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Engineering works specializing in tree-planting,
gardening (greening), landscaping, afforestation
projects, timber processing works, paper-making materials, health foods, other timber-related
businesses (--100%).
Clients
[Mfrs, wholesalers] Oji Paper, Okaya Home Component, Hi-Tech Wood, Oji Board Paper, Kishu Paper, other.
No. of accounts
500
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Marubeni Corp, Japan New Zealand Co, Oji Rinzai, Nippon
Paper Ind, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
SMBC (H/O)
MUFG (H/O)
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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69,000 |
67,985 |
64,092 |
66,041 |
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Recur.
Profit |
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1,465 |
1,331 |
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Net
Profit |
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1,500 |
1,469 |
645 |
713 |
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Total
Assets |
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31,165 |
28,651 |
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Current
Assets |
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22,317 |
18,655 |
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Current
Liabs |
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23,395 |
21,935 |
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Net
Worth |
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6,232 |
4,804 |
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Capital,
Paid-Up |
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288 |
288 |
288 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.49 |
6.07 |
-2.95 |
-3.81 |
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Current Ratio |
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95.39 |
85.05 |
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N.Worth Ratio |
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20.00 |
16.77 |
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R.Profit/Sales |
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2.15 |
2.08 |
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N.Profit/Sales |
2.17 |
2.16 |
1.01 |
1.08 |
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Return On Equity |
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23.57 |
13.43 |
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Notes: Forecast (or estimated) figures for the 31/03/2008
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%)