MIRA INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SHOEI CO LTD |
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Registered Office : |
Shoei Bldg, 6-13-3 |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
November 1964 |
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Com. Reg. No.: |
(Osaka-Fukushimaku) 035234 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of heat exchangers, temperature control system, refrigerators |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 26.8 Million |
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Status : |
Moderate |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
SHOEI CO LTD
REGD NAME
Shoei KK
MAIN OFFICE
Shoei Bldg, 6-13-3
Tel:
05-6458-4151 Fax: 06-6458-4176
URL: www.shoei-sec.jp
E-mail: info@shoei-sec.jp
ACTIVITIES
Import,
wholesale of heat exchangers, temperature control system, refrigerators
BRANCHES
OFFICER(S)
KATSUHISA
FURUKAWA, PRES
Noriyuki
Nishizawa, dir
Norihide
Higashino, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,255 M
PAYMENTS REGULAR CAPITAL Yen
49 M
TREND SLOW WORTH Yen
413 M
STARTED 1964 EMPLOYES 30
COMMENT
MFR OF
HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$20,000 / O/A 60 DAYS
MAX
CREDIT LIMIT: YEN 26.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Katsuhisa Furukawa in order to make most of his experience in the subject line of business. This is a trading firm, owned and operated by the Furukawa family, for importing and wholesaling oil heaters, refrigerating systems, temperature control system, suction accumulator, other. Clients include electric makers, other.
FINANCIAL INFORMATION
The sales volume for Jun/2010 fiscal term amounted to Yen 1,255 million,
a 13% down from Yen 1,466 million in the previous term, as affected by the
global economic downturn. The recurring
profit was posted at Yen 31 million and the net profit at Yen 13 million,
respectively, compared with Yen 10 million recurring profit and Yen 5 million
net profit, respectively, a year ago. .
For the current term ending Jun 2011 the recurring profit is projected
at Yen 35 million and the net profit at Yen 15 million, respectively, on an 8%
rise in turnover, to Yen 1,35o million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 26.8 million, on 30 days normal terms. The proposed amount for 60 days terms is
considered well within the firm’s financial capacities.
REGISTRATION
Date Registered:
Nov 1964
Regd No.: (Osaka-Fukushimaku)
035234
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 396,000
shares
Issued: 99,000 shares
Sum: Yen
49.5 million
Major shareholders (%): Employees’ S/Holding Assn
(41), Katsuhisa Furukawa (11), Eiji Furukawa (21), Company’s Treasury Stock
(15)
No. of shareholders: 20
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales oil heaters, temperature control systems, refrigerating systems.
Suction accumulators, heat exchangers, other (--100%).
Clients: [Mfrs,
wholesalers] CKD, Mitsubishi Electric Building Techno Service, Aisin Seiki Co, Ebara
Service, Hoshizaki Electric Co, Daiwa Industries Ltd, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] EGO Japan, Panasonic Electric, Mitsubishi Gas Chemical, Style
Electronics Corp, other
Payment record: Regular
Location: Business area in
Bank References:
Resona
Bank (Umeda-Kitaguchi)
MUFG
(Dojima)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/06/2011 |
30/06/2010 |
30/06/2009 |
30/06/2008 |
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Annual
Sales |
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1,350 |
1,255 |
1,446 |
1,644 |
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Recur.
Profit |
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35 |
31 |
10 |
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Net
Profit |
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15 |
13 |
5 |
68 |
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Total
Assets |
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1,326 |
1,308 |
1,348 |
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Current
Assets |
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1,036 |
1,004 |
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Current
Liabs |
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473 |
453 |
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Net
Worth |
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413 |
503 |
492 |
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Capital,
Paid-Up |
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49 |
49 |
49 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.57 |
-13.21 |
-12.04 |
-14.29 |
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Current Ratio |
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.. |
219.03 |
221.63 |
.. |
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N.Worth Ratio |
.. |
31.15 |
38.46 |
36.50 |
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R.Profit/Sales |
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2.59 |
2.47 |
0.69 |
.. |
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N.Profit/Sales |
1.11 |
1.04 |
0.35 |
4.14 |
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Return On Equity |
.. |
3.15 |
0.99 |
13.82 |
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Notes:
Forecast (or estimated) figures for the 30/06/2011 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.44.65 |
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1 |
Rs.71.93 |
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Euro |
1 |
Rs.63.24 |
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.