MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
NERIKI VALVE CO LTD |
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Registered Office : |
4-6-1 Shimosakabe Amagasaki City Hyogo-Pref 661-0975 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
February 1952 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Valves, High-Pressure Gas Bottles, Valves |
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 210.8 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
NERIKI VALVE CO
LTD
REGD NAME: KK Neriki
MAIN OFFICE: 4-6-1 Shimosakabe Amagasaki City Hyogo-Pref
661-0975
Tel:
06-6491-5101 Fax: 06-6493-7350
URL: http://www.neriki.co.jp
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of valves, high-pressure gas bottles, valves
BRANCHES
Tokyo
FACTORY
At the caption address, Kobe
OFFICER(S)
NORIO DAICHO, PRES
Isamu Tsumura, dir
Keinosuke Nakajima, dir
Hideyo Ono, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,200 M
PAYMENTS REGULAR CAPITAL Yen 96 M
TREND STEADY WORTH Yen 3,475 M
STARTED 1952 EMPLOYES 100
COMMENT
MFG OF HIGH-PRESSURE BOTTLES & VALVES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 210.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally 1930 by Bungo Neriki for selling high-pressure gas bottles & valves, on his account. Incorporated in 1952, the firm has been succeeded by his descendants. Specializes in mfg high-pressure gas bottles/containers & valves, valve cocks, other. Clients are gas appliance mfrs, wholesalers, etc.
FINANCIAL INFORMATION
The sales volume for Jan/2008 fiscal term amounted to Yen 5,200 million, a 7% up from Yen 4,843 million in the previous term. Demand increased and hike in materials costs contributed. The net profit was posted at Yen 400 million, compared with Yen 509 million a year ago. Higher costs of materials & fuel oils deteriorated the profits.
For the current term ending Jan 2009 the net profit is projected at Yen 410 million, on a 6% rise in turnover, to Yen 5,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 210.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1952
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 192,000 shares
Issued: 192,000 shares
Sum: Yen 96 million
Major shareholders (%)
Suriipii*(22), Toshitaka Daicho (7), Employees’ S/Holding Assn (5), Norio Daicho (2)
* Holding company owned by the Daicho family
No. of shareholders: 38
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures high-pressure gas bottlers & containers, gas valves, valve cocks (80%), other parts & components (20%).
Clients
[Mfrs, wholesalers] Iwatani Corp, Air Liquid Japan, Koatsu Gas Kogyo, Taiyo
Nippon Sanso Corp, Air Water Inc, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Mitsubishi Shindoh Co (20%), Fuji Seimitsu Co (15%),
Hasegawa Seisakusho, Okamoto Seisakusho, other.
Payment record
Regular
Location
Business area in Amagasaki City, Hyogo-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Ikeda Bank (H/O)
MUFG (Amagasaki-Ekimae)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual
Sales |
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5,200 |
4,843 |
3,981 |
3,904 |
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Recur.
Profit |
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850 |
851 |
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Net
Profit |
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400 |
509 |
385 |
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Total
Assets |
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5,379 |
5,034 |
4,492 |
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Current
Assets |
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3,759 |
3,541 |
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Current
Liabs |
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1,780 |
1,364 |
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Net
Worth |
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3,475 |
3,014 |
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Capital,
Paid-Up |
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96 |
96 |
96 |
96 |
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Div.P.Share(¥) |
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500 |
500.00 |
500.00 |
350.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.37 |
21.65 |
1.97 |
0.00 |
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Current Ratio |
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.. |
211.18 |
259.60 |
.. |
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N.Worth Ratio |
.. |
64.60 |
59.87 |
0.00 |
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R.Profit/Sales |
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.. |
17.55 |
21.38 |
.. |
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N.Profit/Sales |
7.69 |
10.51 |
9.67 |
0.00 |
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Return On Equity |
.. |
14.65 |
12.77 |
.. |
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Notes: Confirmed figures for the 31/01/2008 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.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)