MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
JST MFG CO LTD |
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Registered Office : |
2-6-8 Kamononishi Jotoku Osaka 536-0014 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
September 1957 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Solderless Terminals, Connectors |
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 735 MILLION |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
JST MFG CO LTD
REGD NAME: Nihon Acchaku Tanshi Seizo KK (Acchaku means
solderless, Tanshi means Terminals and Seizo means Mfg in Japanese).
MAIN OFFICE: 2-6-8 Kamononishi Jotoku Osaka 536-0014 JAPAN
Tel:
06-6961-0070 Fax: 06-6967-1155
* Registered at: 2-4-8 Minamisemba Chuoku Osaka
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of solderless terminals, connectors
BRANCHES
Utsunomiya, Yokohama, Hachioji, Nagano, Nagoya, Osaka,
Kurayoshi, Hiroshima, Fukuoka, other
OVERSEAS
Europe (8), China (4), Thailand, Korea, USA, other
FACTORY(IES)
Kurayoshi, Okayama, Tsuyama, Utsunomiya
OFFICER(S)
MASAO YOSHIMURA, PRES
Miyoko Nishimoto, rep ch
Munetaka Mori, rep dir
Yoshinori Matsuda, rep dir
Mitsuhiro Takahashi, dir
Eriko Takahashi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES GOOD A/SALES Yen 113,528 M
PAYMENTS REGULAR CAPITAL Yen
30 M
TREND STEADY WORTH Yen
119,653 M*
STARTED 1957 EMPLOYES 888
*
Estimated figures from the 31/03/2005 fiscal report
COMMENT
MFR OF SOLDERLESS TERMINALS & CONNECTORS.
FINANCIAL SITUATION CONSIDERED GOOD TO EXCELLENT AND RESPONSIBLE FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 735 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Teiji Takahashi in order to mfr and market solderless terminals. This is the first Japan’s mfr of solderless terminals (which was named as Acchaku Tanshi in Japanese and is used in Japanese Industrial Standard). The firm has been succeeded by his descendants. Masao Yoshimura took the pres office in Mar 1993. Specializes in mfg terminals & connectors as mainstay, application tools & machines, others, widely used in electronics industry. Domestically tops in the particular products. Active in overseas operations with global mfg sites & sales networks.
FINANCIAL INFORMATION
Financials are only partially disclosed as from the Mar/2006 fiscal term. Until then digested figures had been disclosed.
The sales volume for Mar/2008 fiscal term amounted to Yen 113,528 million, a 7% up from Yen 105,887 million in the previous term. Demand rose from electronics and other industries. Overseas production increased. The net profit, however, decreased to Yen 489 million from Yen 5,817 million a year ago. This is referred to the sharp rise in materials & fuel costs. .
For the current term ending Mar 2009 the net profit is projected at Yen 500million, on a 6% rise in turnover, to Yen 120,000 million. Business is seen steady & growing.
The financial situation is considered GOOD to EXCELLENT and responsible for ORDINARY business engagements. Max credit limit is estimated at Yen 735 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1957
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.4 million shares
Issued: 1.4 shares
Sum: Yen 30 million
Major shareholders (%):Miyoko Nishimoto (63), Hisayo Takahashi (30), Katsuhisa Takahashi (3.5), Katsuji Takahashi (3.5)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures solderless terminals, connectors, others (--100%):
(Mfg items): Wire to rod crimp style connectors, wire to board insulation displacement connectors, board to board connector4s, card edge connectors, FFC/FPC connectors, ribbon cable connectors, headers/jumpers/compression type connectors, card connectors, coaxial or optical fiber connectors, interface connection connectors, wire to wire connectors, chain terminals/splices, solderless terminals, solderless splices, shunt wires, application tools/machines, DIN type chain terminals/splices, DIN type solderless terminals/splices, automation connectors, others.
Clients
[Electronics mfrs] Hitachi Ltd, Toshiba Corp, Sony Corp, Sharp Corp, Mitsubishi Electric, Matsushita Electric Ind, Sanyo Electric, Hitachi Wire Finetech, Yumex Co, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Sumitomo Metal Ind, Toray, Hitachi Electric Wire, Asahi Chemical Ind, Komatsu Light Mfg, Hitachi Metal, Mitsubishi Electric Metecs, Dowa Holdings, Nikko Mining & Metals, Ryoden Trading, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
MUFG (Namba)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2009 |
31/03/2008 |
31/03/2007 |
31/03/2006 |
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Annual
Sales |
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120,000 |
113,528 |
105,887 |
94,535 |
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Recur.
Profit |
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Net
Profit |
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500 |
489 |
5,817 |
7,400 |
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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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119,653 |
119,995 |
114,130 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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 |
5.70 |
7.22 |
12.01 |
3.21 |
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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 |
0.42 |
0.43 |
5.49 |
7.83 |
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Notes: Financials are only partially disclosed.
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.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)