MIRA
INFORM REPORT
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Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANWA KENMA KOGYO CO LTD |
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Registered Office : |
22-1 Kaminoyama Okubocho Uji City Kyoto-Pref 611-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
October 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Grinding Stones and Tools |
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 103.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
SANWA KENMA KOGYO CO LTD
REGD NAME: Sanwa Kenma Kogyo KK
MAIN OFFICE: 22-1 Kaminoyama
Okubocho Uji City Kyoto-Pref 611-0033 JAPAN
Tel:
0774-41-6126 Fax: 0774-44-8860
URL: http://www.sanwakenma.co.jp/
E-Mail address:info@sanwakenma.co.jp
ACTIVITIES
Mfg of grinding stones & tools
BRANCHES
Saitama, Takamatsu
OVERSEAS
Alpha Professional Tools (USA); SKE GmbH (Germany); Riel
Sanwa Srl (Italy);
Sanwa Specialty Materials (Dalian) Co Ltd (China)
(--subsidiaries)
FACTORY(IES)
At the caption address, Joyo City (Kyoto)
OFFICER(S)
Tohru Sakakibara, ch
SOTARO TAKENOUCHI, PRES
Hatsuo Tanigawa, dir
Nariyuki Tanaka, dir
Susumu Matsuda, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,094 M
PAYMENTS REGULAR CAPITAL Yen 75 M
TREND SLOW WORTH Yen 2,560 M
STARTED 1949 EMPLOYES 125
COMMENT
MFR OF GRINDING STONES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 103.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by T Sakakibara in order to make most of his experience in the subject line of business. This is a specialized mfr of diamond grinding stones, polishing stones, other stone & metal cutting tools. Has four overseas subsidiaries: USA, Germany, Italy and China. Active in overseas operations. Goods are also exported.
FINANCIAL INFORMATION
The sales volume for Dec/2007 fiscal term amounted to Yen 2,104 million, a 0.5% up from Yen 2,094 million in the previous term. The operations came back to profitability to post Yen 14 million net profit for the term. This compares with Yen 155 million net losses in the previous term. Higher costs of materials & fuel oils hurt profitability. Financials for Dec/2007 fiscal term is only partially disclosed.
For the current term ending Dec 2008 the net profit is projected at Yen 25 million, on a 2% rise in turnover, to Yen 2,150 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 103.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1949
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6 million shares
Issued: 1.5 million shares
Sum: Yen 75 million
Major shareholders (%)
Employees’ S/Holding Assn (28.4), Osaka Small & Medium Business Investment Corp (20), Sotaro Takenouchi (10)
No. of shareholders: 29
Nothing detrimental is known as to ^the commercial morality of executives.
OPERATION
Activities: Manufactures stone & metal cutting tools: diamond cutting stones, grinding stones, polishing stones, other cutting tools and supplies (--100%).
Clients
[Mfrs, wholesalers] Alpha Professional Tools (22.3%), SKE GmbH (5%) (--subsidiaries), Yamanaka Semiconductor, other.
No. of accounts
300
Domestic areas of activities
Nationwide
Suppliers
Mfrs, wholesalers] Sanwa Tokushu Zairyo (11%), Osaka Tomei Dia, Nagase Kenma Kizai, Maeda Chemical, other.
Payment record
Regular
Location
Business area in Uji City, Kyoto-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Shiga Bank (Kyoto-Minami)
Shoko Chukin Bank (Kyoto)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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2,104 |
2,094 |
2,214 |
2,206 |
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Recur.
Profit |
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-94 |
39 |
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Net
Profit |
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14 |
-155 |
45 |
-95 |
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Total
Assets |
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3,434 |
4,204 |
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Current
Assets |
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1,813 |
2,529 |
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Current
Liabs |
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198 |
732 |
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Net
Worth |
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2,560 |
2,551 |
2,710 |
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Capital,
Paid-Up |
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75 |
75 |
75 |
75 |
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Div.P.Share(¥) |
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3.00 |
2.00 |
3.00 |
2.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.48 |
-5.42 |
0.36 |
1.94 |
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Current Ratio |
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915.66 |
345.49 |
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N.Worth Ratio |
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74.29 |
64.46 |
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R.Profit/Sales |
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-4.49 |
1.76 |
.. |
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N.Profit/Sales |
0.67 |
-7.40 |
2.03 |
-4.31 |
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Return On Equity |
.. |
-6.08 |
1.66 |
.. |
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Notes: Financials are only partially disclosed for the
31/12/2007 fiscal term.
The net worth is estimated only. All others are confirmed figures.
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%)