MIRA INFORM REPORT

 

 

 

Report Date :

05.11.2008

 

IDENTIFICATION DETAILS

 

Name :

HASHIGUCHI MANUFACTURING CO LTD

 

 

Registered Office :

5-9-5 Togoshi Shinagawaku Tokyo 142-0041

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2008

 

 

Date of Incorporation :

July 1967

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufacturer of Capacitor Terminals, Terminal Blocks, Centrifugal Switches

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

YEN 3.9 Million

 

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

name & address

 

HASHIGUCHI MANUFACTURING CO LTD

REGD NAME:    KK Hashiguchi Seisakusho

MAIN OFFICE:  5-9-5 Togoshi Shinagawaku Tokyo 142-0041 JAPAN

                        Tel: 03-3782-4741     Fax: 03-3783-2083

 

URL:                 http://www.hmcka.ccom/

Email:              hmc-sals@xd6.so-net.ne.jp

 

 

ACTIVITIES  

 

Mfg of capacitor terminals, terminal blocks, centrifugal switches

 

 

BRANCHES   

 

Fukushima

 

 

OVERSEAS   

 

Hong Kong (subsidiary)

 

 

FACTORY

 

Fukushima

 

 

OFFICER(S)

 

KANEO HASHIGUCHI, PRES                

Setsuko Hashiguchi, s/mgn dir

Katsuya Hashiguchi, dir                         

 

Yen Amount:    In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        R/WEAK                       A/SALES          Yen 212 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 43 M

STARTED         1967                             EMPLOYES      21

 

COMMENT

 

MFR OF CAPACITOR TERMINALS & TERMINAL BLOCKS.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE

GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 3.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

 

The subject company was established originally in 1960 by Kaneo Hashiguchi, on his account, in order to make most of his experience in the subject line of business, and was incorporated in 1967.  This is a family-based company specializing in mfg capacitor terminals, terminal blocks, centrifugal switches, and accessories.  Goods are also exported.  Domestically shipped to major electronic appliances makers.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jun/2008 fiscal term amounted to Yen 212 million, a 17% down from Yen 254 million a year earlier.  Hard hit by higher Yen against foreign currencies which decreased export revenues in Yen terms.  Rising material prices also decreased exports.  The net profit remained unchanged at Yen 1 million.

 

For the current term ending Jun 2009 the net profit is projected to mark time at Yen 1 million, on a 4% rise in turnover, to Yen 220 million.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 3.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered: Jul 1967

Legal Status:     Limited Company (Kabushiki Kaisha)

Authorized:        80,000 shares

Issued:               20,000 shares

Sum:                  Yen 10 million

 

 

Major shareholders (%)

 

Kaneo Hashiguchi (50), Setsuko Hashiguchi (30), Katsuya

Hashiguchi (10), Tomiko Tomobe (10)

No. of shareholders: 4

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

 

 

 

OPERATION

 

Activities: Manufactures capacitor terminals, terminal blocks, centrifugal switches for use in single-phase motors, and their accessories (--100%).

 

 

Clients

 

[Electronics makers] Hitachi AIC, Toshiba Corp, Fujitsu Media Device, Nichicon Corp, Toshiba Components, Annaka Co, Fujiken, Konica Minolta Holdings, Toyo Denso, Samsung (Korea), other.

No. of accounts: 500

Domestic areas of activities: Centered in greater-Tokyo

 

 

Suppliers

 

 [Mfrs, wholesalers] Mitsubishi Shindoh, Oomori Hatome, Nakagawa Metal, Hashiguchi Corp (HK), Shinnihon Kinzoku, Risho Kogyo, Totec Co, Omori Denki, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

 

Bank References

 

Shiba Shinkin Bank (Takanawa)

Mizuho Bank (Togoshi)

Relations: Satisfactory

 

 

FINANCES: (In Million Yen)

 

Terms Ending:

　

30/06/2009

30/06/2008

30/06/2007

30/06/2006

Annual Sales

　

220

212

254

240

Recur. Profit

　

　

　

　

　

Net Profit

　

1

1

1

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

43

42

41

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

3.77

-16.54

5.83

-0.83

     Current Ratio

 

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

0.45

0.47

0.39

0.42

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for 30/06/2009 fiscal term.

 

           

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.47.18

UK Pound

1

Rs.75.05

Euro

1

Rs.60.89

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions