MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOKYO KOGYO BOYEKI SHOKAI LTD |
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Registered Office : |
Nishishimbashi Bldg 3F, 3-13-3 Nishishimbashi Minatoku Tokyo 105-0003 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
September 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Industrial Materials,
Building Materials |
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 109.1 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
TOKYO KOGYO BOYEKI
SHOKAI LTD
REGD NAME: KK Tokyo Kogyo Boyeki Shokai
MAIN OFFICE: Nishishimbashi Bldg 3F, 3-13-3 Nishishimbashi
Minatoku Tokyo 105-0003 JAPAN
Tel:
03-3436-4521 Fax: 03-3436-8272
URL: http://www.tkbs-jp.com
E-Mail address: info@tkbs-jp.com
ACTIVITIES
Import, export, wholesale of industrial materials, building
materials
BRANCHES
Osaka, Nagoya, Sapporo, Sendai, Hiroshima, Toyama, other
(Tot 9)
OFFICER(S)
HISASHI MUTOH, PRES
Noritaka Ohtani, v pres
Hisachika Mutoh, mgn dir
Hatsuhiko Asaichi, dir
Kiichi Takanami, dir
Yukinobu Saitoh, Dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 8,816 M
PAYMENTS REGULAR CAPITAL Yen 173 M
TREND STEADY WORTH Yen 1,026 M
STARTED 1947 EMPLOYES 114
COMMENT
TRADING COMPANY SPECIALIZING IN INDUSTRIAL & HOUSING
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 109.1
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1924 by Hajime Fukuoka for importing asphalt water-proofing materials from USA, on his account. Incorporated in 1947 the firm has been succeeded by his descendants. This is a trading firm for import, export and wholesale of industrial & construction materials (See OPERATION). Goods are imported from USA, Canada, China, other. Clients are heavy machinery mfrs, brake mfrs, other mfrs, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2008 fiscal term amounted to Yen 8,816 million, a 2% up from Yen 8,643 million in the previous term. The operations dipped into the red to post Yen 25 million net loss for the term. This is referred to some extraordinary losses, as reported. The recurring profit was posted at Yen 105 million. This compares with Yen 36 million recurring profit and Yen 9 million net profit, respectively, a year ago.
For the current term ending Mar 2009 the recurring profit is projected at Yen 108 million and the net profit at Yen 10 million, respectively, on a 3% rise in turnover, to Yen 9,080 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 109.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1947
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 13 million shares
Issued: 3,478,000 shares
Sum: Yen 173.9 million
Major shareholders (%)
Fukuoka Ikueikai (Scholarship Society operated by the Fukuoka Family) (35), Hisashi Mutoh (20), Hiroko Fukuoka (9), Hisachika Mutoh (7)
No. of shareholders: 10
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales:
Industrial Materials (89.6%): bulking agents, zeolites, celite (for filter aides, cartridge filters), non-asbestos joint sheet, metal gasket, glass wool ducts, insulating powder, insulating sheet, industrial ceramics for use in blast furnaces/incinerators, electric heating cables & panels;
Construction/Housing Materials (10.3%): ball void slabs, insulating ceiling materials, flooring materials, other;
Real Estate Management, others (0.1%)
Clients
[Mfrs, wholesalers] Mitsubishi Heavy Ind, Akebono Brake Ind, Denso Corp, Nippon Shokubai, Toray Ace, Furukawa-Sky Aluminum, NE Chemcat Corp, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Shinnnikka Thermal Ceramics Corp, Zeolys International, Clite, Advanced Minerals, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
SMBC (H/O)
MUFG (Shimbashi)
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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9,080 |
8,816 |
8,643 |
8,324 |
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Recur.
Profit |
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108 |
105 |
36 |
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Net
Profit |
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10 |
-25 |
9 |
9 |
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Total
Assets |
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5,522 |
5,814 |
6,347 |
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Current
Assets |
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3,629 |
4,146 |
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Current
Liabs |
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2,685 |
2,877 |
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Net
Worth |
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1,026 |
1,057 |
1,142 |
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Capital,
Paid-Up |
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173 |
173 |
173 |
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Div.P.Share(¥) |
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2.00 |
2.00 |
2.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.99 |
2.00 |
3.83 |
1.65 |
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Current Ratio |
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.. |
135.16 |
144.11 |
.. |
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N.Worth Ratio |
.. |
18.58 |
18.18 |
17.99 |
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R.Profit/Sales |
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1.19 |
1.19 |
0.42 |
.. |
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N.Profit/Sales |
0.11 |
-0.28 |
0.10 |
0.11 |
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Return On Equity |
.. |
-2.44 |
0.85 |
0.79 |
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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.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%)