MIRA
INFORM REPORT
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Report Date : |
25.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MITAKI SHOUJI CO
LTD |
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Registered Office : |
1137 Hironagacho Yokkaichi Mie-Pref 512-8061 |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
August 1970 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Rice Miller, Flour Dressing; Wholesale of Confectionery
Materials, Other |
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 299.1 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
MITAKI SHOUJI CO LTD
REGD NAME: Mitaki
Shouji KK
MAIN OFFICE: 1137
Hironagacho
Tel: 059-364-5111
Fax: 059-364-5110
ACTIVITIES
Rice
miller, flour dressing; wholesale of confectionery materials, other
BRANCHES
Nil
FACTORY(IES)
At the
caption address, Tomida, Isakadai (--Mie), with low temperature storages
OFFICER(S)
YOKO
HATTORI, PRES
Fuminobu
Kitamura, dir
Senshi
Kitamura, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 5,700 M
PAYMENTS REGULAR CAPITAL Yen 70 M
TREND STEADY WORTH Yen
3,131 M
STARTED 1970 EMPLOYES 40
COMMENT
RICE
MILLER.
FINANCIAL SITUATION CONSIDERED
GOOD AND RESPONSIBLE FOR ORIDNARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
299.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
This is an old-established rice miller dating back to 1877
founded by the Hattori family and incorporated in 1970. Yoko Hattori, who took the pres office in Mar
1996, is the fourth generation master.
Specializes in rice milling & flour dressing business. Imports soy beans and other cereals. Material products are supplied from Zen-Noh,
agricultural coops, Economic Federation of municipalities, other. Imports are mostly handled by general trading
houses. Clients include bakeries,
confectionery mfrs, rice-cake makers, other.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen
5,700 million, a 4% up from Yen 5,480 million in the previous term. Hike in material prices pushed the sales
amount upward. The net profit was posted
at Yen 220 million, compared with Yen 180 million a year ago. .
For the current term ending Mar 2009 the net profit is
projected at Yen 160million, on a 2% rise in turnover, to Yen 5,800
million.
The financial situation is considered GOOD and responsible
for ORDINARY business engagements. Max
credit limit is estimated at Yen 299.1 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Aug 1970
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 560,000
shares
Issued: 140,000
shares
Sum: Yen 70
million
Major shareholders (%): Yoko Hattori (32.5), T Hattori
(29.2), Mitaki Urban (27.8), Mitaki Rice (7.1)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Rice milling, flour dressing;
wholesale of confectionery materials, sugar, wheat flour, dairy products,
seasoning; imports soybeans, bean jams, other (--100%).
Clients
[Bakeries, confectionery mfrs,
wholesalers] Yamazaki Baking, Kirin Breweries, Takara Shuzo, Marubeni Corp,
Iwatsuka Confectionery, Imuraya Confectionery, Bourbon Corp, Sugakico Systems,
other
No. of
accounts: 800
Domestic
areas of activities: Centered in Mie-Pref and vicinities
Suppliers
[Mfrs, wholesalers] Zen-Noh,
Agricultural Coops, Sumitomo Corp, Hokuren Federation of Agricultural
Cooperatives, Mitsubishi Corp, Mie-Pref Economic Federation, other.
Payment record:
Regular
Location:
Business area in
Bank References
Hyakugo
Bank (Tomida)
MUFG (
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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5,700 |
5,480 |
5,265 |
4,400 |
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Recur.
Profit |
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Net
Profit |
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150 |
180 |
300 |
80 |
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Total
Assets |
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3,481 |
3,699 |
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Current
Assets |
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2,060 |
2,215 |
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Current
Liabs |
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279 |
470 |
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Net
Worth |
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3,131 |
3,158 |
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Capital,
Paid-Up |
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70 |
70 |
70 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.01 |
4.08 |
19.66 |
0.41 |
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Current Ratio |
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.. |
738.35 |
471.28 |
.. |
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N.Worth Ratio |
.. |
89.95 |
85.37 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
2.63 |
3.28 |
5.70 |
1.82 |
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Return On Equity |
.. |
5.75 |
9.50 |
.. |
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Notes: The 31/03/2005 is for irregular 11 months due to
change of accounting term to Apr/Mar from Aug/July. The growth rate is adjusted on a 12-month
basis.
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.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
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%)