MIRA
INFORM REPORT
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Report Date : |
21.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MIRAPRO CO LTD |
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Registered Office : |
1100 |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
June, 1984 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing
of welded bellows, molded bellows, semiconductor-mfg equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 116.3 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
Name
MIRAPRO
CO LTD
REGD NAME
KK Mirapro
MAIN OFFICE
1100 Sutamacho-Anadaira Hokuto City
Yamanashi-Pref 408-0111
Tel:
0551-42-5111 Fax: 0551-42-4311
URL: http://www.mirapro.co.jp/
E-Mail
address: info@mirapro.co.jp
ACTIVITIES
Mfg of welded bellows, molded
bellows, semiconductor-mfg equipment
BRANCHES
FACTORY(IES)
At the caption address,
Yamanashi (3), Ehime
OFFICER(S)
YOICHI TSUGANE, PRES Masamitsu Shiraishi, v pres
Hiroyuki
Tsugane, s/mgn dir Hiroshi
Nakamura, mgn dir
Masafumi
Yazaki, mgn dir Katsuyoshi
Saitoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,119 M
PAYMENTS REGULAR CAPITAL Yen 95 M
TREND STEADY WORTH Yen
2,199 M
STARTED 1984 EMPLOYES 510
COMMENT
MFR OF
VACUUM PRODUCTS, SEMICONDUCTOR MFG EQUIPMENT, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN
116.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company
was established by Yoichi Tsugane in order to make most of his experience in the
subject line of business. Specializes in
mfg welded bellows, molded bellows, flexible hoses, microscope; semiconductor
mfg equipment, other. Offers OEM
production. A leading mfr of flexible
hoses. Goods are imported and
exported.
FINANCIAL INFORMATION
Financials are
disclosed in digest form for the 31/03/2008 fiscal term.
The sales volume
for Mar/2008 fiscal term amounted to Yen 12,119 million, an 8% down from Yen
13,210 million in the previous term.
Exports were slow. The net profit
was posted at Yen 118 million, compared with Yen 460 million a year ago. Not only the sales declined but also higher
materials & fuel oil costs ate into profits.
For the current
term ending Mar 2009 the net profit is projected at Yen 120million, on a 3%
rise in turnover, to Yen 12,500 million.
Solar cell-related products will grow, according to the firm.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max
credit limit is estimated at Yen 116.3 million, on 30 days normal terms.
REGISTRATION
Date Registered:
Jun 1984
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 7,600
shares
Issued: 1,900
shares
Sum: Yen 95
million
Major shareholders (%): Hiroyuki Tsugane (48), Yoichi
Tsugane (22), Teruko Tsugane (7), Miyuki Yamauchi (6)
No. of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures & fabricates,
including OEM production, flexible hoses, microscope, welded bellows, molded
bellows, semiconductor mfg equipment, other related accessories (--100%).
Clients: [Mfrs, wholesalers] Tokyo Electron
AT, Naigai Tec Corp, Hitachi Kokusai Electric Inc, Mirapro Singapore, Anelva,
SEN Corp, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fuso Aviation,
Tofl Co, Chiba Metal Co, IHI Turbo, Makii Stainless, Sanko Co, Melco-Japan Co,
Shinwa Co, other.
Payment record: Regular
Location: Business area in
Bank References
Kofu Shinkin Bank (Nirasaki)
SMBC (
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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12,500 |
12,119 |
13,210 |
10,156 |
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Recur.
Profit |
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Net
Profit |
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120 |
118 |
460 |
447 |
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Total
Assets |
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13,791 |
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Current
Assets |
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8,567 |
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Current
Liabs |
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7,399 |
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Net
Worth |
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2,199 |
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Capital,
Paid-Up |
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95 |
95 |
95 |
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Div.P.Share(¥) |
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0.00 |
3000.00 |
3000.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.14 |
-8.26 |
30.07 |
14.90 |
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Current Ratio |
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.. |
115.79 |
.. |
.. |
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N.Worth Ratio |
.. |
15.95 |
.. |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.96 |
0.97 |
3.48 |
4.40 |
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Return On Equity |
.. |
5.37 |
.. |
.. |
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Notes:
Forecast (or estimated) figures for the 31/03/2009 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%)