MIRA INFORM REPORT
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Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
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Name : |
KENSETSU RUBBER CO LTD |
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Registered Office : |
4-18-4 Ayuchi-dori Showaku Nagoya 466-0027 |
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Country : |
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Financials (as on) : |
30.04.2010 |
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Date of Incorporation : |
June 1958 |
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Com. Reg. No.: |
(Nagoya-Showaku) 008226 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of industrial
rubber/plastic parts & components |
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 411.2 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
KENSETSU RUBBER CO LTD
REGD NAME
Kensetsu Gomu KK
MAIN OFFICE
4-18-4 Ayuchi-dori
Showaku Nagoya 466-0027JAPAN
Tel:
052-851-7211 Fax: 052-851-7219
URL: http//:www.kengomu.co.jp
E-mail: info@kengomu.co.jp
ACTIVITIES
Import,
wholesale of industrial rubber/plastic parts & components
BRANCHES
Aichi
(3), Shiga,
OVERSEAS
FACTORIES
OFFICER(S)
Akemi
Inaki, ch SANSHIRO
INAKI, PRES
Takashi
Asahina, s/mgn dir Koichi
Ishida, mgn dir
Yasunori Fukao, mgn dir Akio Sawai, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 19,036 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND SLOW WORTH Yen
4,199 M
STARTED 1958 EMPLOYES 201
COMMENT
WHOLESALER
OF INDUSTRIAL RUBBER/PLASTIC PARTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 411.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company
was established on the basis of adhesive mfg division separated from Gomuno
Inaki Co Ltd, mfg of industrial rubber,
FINANCIAL INFORMATION
The sales volume for
Apr/2010 fiscal term amounted to Yen 19,036 million, an 11% down from Yen
21,453 million in the previous term. The
global economic downturn hit major carmakers first and began to impact small
& midsize parts makers. The major
client Toyota Motor significantly slashed production since last fall reducing
daily output to half of last year’s level.
The recurring profit was posted at Yen 478 million and the net profit at
Yen 283 million, respectively, compared with Yen 357 million recurring profit
and Yen 220 million net profit, respectively, a year ago.
For the current term
ending Apr 2011 the recurring profit is projected at Yen 480 million and the
net profit at Yen 285 million, respectively, on a 4% rise in turnover, to Yen
19,800 million. Car industry has
revived. Toyota Motor reported sales up
27% for Apr/Jun 2010 period.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 411.2
million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1958
Regd No.: (Nagoya-Showaku) 008226
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 3.2
million shares
Issued:
800,000 shares
Sum: Yen
40 million
Major shareholders (%): Gomu No Inaki* (30), Sanshiro Inaki (29),
Daiichi Shokusan** (5), KK Inaki** (5)
* Holding company & mfr of industrial rubber, Nagoya, founded 1946,
capital Yen 90 million, sales Yen 38,873 million, net profit Yen 223 million,
employees 396, pres Hiroshi Inaki
** Subsidiaries
No. of shareholders:
15
Nothing detrimental
is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales industrial rubber/plastic parts & components for car
industry (for seat, doors, other car interior parts), for OA equipment makers
and home electric appliance makers (--100%).
Products are
subcontracted mfg to three overseas makers:
Clients: [Mfrs, wholesalers] Toyota Boshoku (20%), Toyota Boshoku Kyushu, T
Estec, Ricoh Elemex, Takehiro Kyushu, Howa Textile Ind, NHK Spring, Toyota Auto
Body, other
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Yamaso, Misugi Kogyo, Meihoku Gomu, Sanwa Light
Kogyosho, Katsuzai Chemicals Corp, Kowa Kasei, Gotoh & Co, Fujiwara Sangyo,
other.
Payment record:
Regular
Location:
Business area in
Bank References:
Mizuho Bank (Nagoya-Chuo)
MUFG (Kami-Maezu)
Relations: Satisfactory
FINANCES: (in
Million Yen)
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Terms Ending: |
30/04/2011 |
30/04/2010 |
30/04/2009 |
30/04/2008 |
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Annual
Sales |
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19,800 |
19,036 |
21,453 |
28,051 |
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Recur.
Profit |
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480 |
478 |
357 |
581 |
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Net
Profit |
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285 |
283 |
220 |
282 |
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Total
Assets |
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12,918 |
12,058 |
15,214 |
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Current
Assets |
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7,356 |
6,195 |
8,910 |
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Current
Liabs |
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6,997 |
6,481 |
9,125 |
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Net
Worth |
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4,199 |
3,935 |
3,742 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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250.00 |
250.00 |
250.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.01 |
-11.27 |
-23.52 |
3.57 |
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Current Ratio |
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.. |
105.13 |
95.59 |
97.64 |
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N.Worth Ratio |
.. |
32.51 |
32.63 |
24.60 |
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R.Profit/Sales |
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2.42 |
2.51 |
1.66 |
2.07 |
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N.Profit/Sales |
1.44 |
1.49 |
1.03 |
1.01 |
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Return On Equity |
.. |
6.74 |
5.59 |
7.54 |
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Notes:
Forecast (or estimated) figures for the 30/04/2011 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.46.02 |
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1 |
Rs.73.21 |
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Euro |
1 |
Rs.60.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.