MIRA
INFORM REPORT
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Report Date : |
21.11.2008 |
IDENTIFICATION DETAILS
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Name : |
KANSETSU SNGYO CO LTD |
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Registered Office : |
4-3-27 Shimaya Konohanaku |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April, 1979 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of heat
exchangers, 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 25.5 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
Name
KANSETSU
SNGYO CO LTD
REGD NAME
Kansetsu Sangyo KK
MAIN OFFICE
4-3-27 Shimaya
Konohanaku
Tel: 06-6466-2801 Fax: 06-6466-2812
URL: http://www.kansetu.co.jp/
E-Mail
address: info@kansetu.co.jp
ACTIVITIES
Mfg of heat exchangers, pumps
BRANCHES
FACTORY(IES)
At the caption address
OFFICER(S)
Hitoshi Nomura, ch HIROSHI NOMURA,
PRES
Mamoru
Matsuura, dir Akira
Itoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,400 M
PAYMENTS REGULAR CAPITAL Yen 22 M
TREND STEADY WORTH Yen
288 M
STARTED 1974 EMPLOYES 18
COMMENT
MFR SPECIALIZING IN HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
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MAX CREDIT LIMIT
YEN 25.5 MILLION, 30 DAYS NORMAL
TERMS
HIGHLIGHTS
The
subject company was established on the basis of a division separated
from Kansetsu Co Ltd (see REGISTRATION), in order to focus on mfg heat
exchangers and other related products (see OPERATION). Products are both imported and
exported through a subsidiary, Kansetsu International Co Ltd, at the caption
address. Clients include major chemical
mfrs, steel mills, and other mfrs, nationwide.
FINANCIAL INFORMATION
Financials are only partially
disclosed.
The sales
volume for Dec/2007 fiscal term amounted to Yen 1,400 million, a 3% up from Yen
1,360 million in the previous term. The
recovery in mfg industries helped boost sales from previously. The net profit was reportedly posted at Yen
35 million, down from Yen 40 million net profit a year ago. Hike in materials and fuel oil cost ate into
profits.
For
the current term ending Dec 2008 the net profit is projected at Yen 35 million,
on a 4% rise in turnover, to Yen 1,450 million.
The firm aims to achieve a 10% sales expansion, but we have estimated
rather conservatively.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 25.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1979
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
135,000 shares
Issued: 45,000 shares
Sum: Yen 22.5 million
Major shareholders (%)
Kansetsu Co*(22.2), Hitoshi Nomura
(17.1), Hiroshi Nomura (10.4), Tomotaka Tanino (6.4), Emiko Nomura (5.3)
*.. Engineering firm of industrial machinery,
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures Teflon-R heat exchangers
(types: module, shell & tube, cubical block, etc); hose pumps, mist
eliminators, VCI stretch films, steel coil wrapping machines, horizontal
scrubbers, others (--100%).
Goods are both imported and
exported through a subsidiary trading firm, Kansetsu International Co Ltd.
Clients
[Mfrs, chemical processors,
steel mills] Nippon Steel, Mitsubishi Materials, Mitsubishi Chemical, Japan
Capacitor Ind, Nichia Corp, Nippon Chemical Ind, Nippon Tokushu Kagaku, Stella
Chemifa, other. Overseas clients
include: Posco (
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Amtec,
Nichias Corp, Le Carbone, Nippon Valqua Ind, Communication Service Corp,
other. Imports from Graphite India Ltd (
Payment record: Regular
Location:
Business area in
Bank References
Mizuho
Bank (Kujo)
MUFG (Shikanjima)
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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1,450 |
1,400 |
1,360 |
1,200 |
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Recur.
Profit |
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Net
Profit |
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35 |
35 |
40 |
35 |
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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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288 |
264 |
236 |
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Capital,
Paid-Up |
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22 |
22 |
22 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.57 |
2.94 |
13.33 |
9.09 |
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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 |
2.41 |
2.50 |
2.94 |
2.92 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2008 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.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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%)