MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SHIGA WOOD CO LTD |
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Registered Office : |
151 Ootatsumicho Nagahama Shiga-Pref
526-0834 |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
Jun 1997 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of 2x4 Housing panels, pallets, plywood, resin
pallets; house building works |
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 39.9 Million |
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Status : |
Small Company |
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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
SHIGA WOOD CO LTD
REGD
NAME
KK Shiga Wood
MAIN
OFFICE
151 Ootatsumicho
Nagahama Shiga-Pref 526-0834
Tel: 0749-62-1517 Fax: 0749-63-8817
URL: http://www.shigawood.com/
E-Mail address: info@shigawood.com
ACTIVITIES
Mfg of
2x4 housing panels, pallets, plywood, resin pallets; house building works
BRANCHES
Nil
FACTORY
At the
caption address
OFFICER(S)
FUMIO
TAKAHASHI, PRES
Masaru
Hashimoto, dir
Hideyuki
Matsubara, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,490 M
PAYMENTS REGULAR CAPITAL Yen 36 M
TREND SLOW WORTH Yen
233 M
STARTED 1997 EMPLOYES 30
COMMENT
MFR SPECIALIZING IN 2X4 HOUSING PANELS & PALLETS, OTHER BUILDING
MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINRY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT ENGAGEMENTS: CD$576,390.
MAX CREDIT LIMIT: YEN 39.9
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1971 by 4 local
building makers to form a cooperative named Shiga Builders’ Coop. In 1997, the building materials mfg division
was separated to be an independent entity named as captioned. This is a specialized mfr of 2x4 housing
panels, pallets, pre-cut timbers, plywood, and other housing materials. Ranked top three mfrs in
Kyoto/Shiga/Hokuriku/Tokai areas.
Material woods are imported.
Clients are local house builders, construction firms, other.
FINANCIAL
INFORMATION
The sales volume for Jun/2010 fiscal term amounted to Yen 1,490 million,
a 13% down from Yen 1,709 million in the previous term. The sales were affected by the global
economic downturn particularly in the first half of the term. Housing starts fell continuously. Homebuilders grew more cautious about
increasing supplies in a deteriorating job market. Consumer spending was sluggish. The recurring profit was posted at Yen 44
million and the net profit at Yen 7 million, respectively, compared with Yen 47
million recurring profit and Yen 1 million net profit, respectively, a year
ago.
For the current term ending Jun 2011 the recurring profit is projected
at Yen 45 million and the net profit at Yen 7 million, respectively, on a 4%
rise in turnover, to Yen 1,550 million.
The negative impact of the Great East Japan Earthquake on
earnings/profits may surface.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
The proposed amount, however, is considered TOO HIGH from the recent
financial status. Max credit
limit is estimated at Yen 39.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1997
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,800 shares
Issued: 721 shares
Sum: Yen 36.05 million
Major shareholders (%): Fumio
Takahashi (28), Hiroshi Kumakawa (28), Hideyuki Matsubara (28), Yoshizo
Takahashi
(14), Mitsuoki Kumakawa (2)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures 2x4
hosing panels, pallets, pre-cut timber, packaging materials, plywood, resin
panels, steel pallets, other housing & building materials (--100%).
Executes housing/building works, too.
(Handling Items):
Housing panels: 2x4 housing
panels, 2x4 housing pre-cut units, 2x4 housing lumber, other;
Housing pallets: South-Sea wood
pallets, turpentine wood pallets, resin pallets, steel racks, steel supporters,
plywood, wooden boxes, other.
Clients: [House builders,
construction companies, wholesalers] Sumitomo Realty & Develop-ment,
Produce TMY Architect, MK Builder, Barrier Free Homes, Yokohama Reito, Dainichi
Construction, Nabrane, Ikoh Ryutsu Center, Nishino Pallet Kogyo, Seiwa
Corporation, Panasonic Logistics, other.
No. of accounts: 500
Domestic areas of
activities: Centered in greater-Nagoya
Suppliers: [Mfrs,
wholesalers] Sumitomo Forestry, Ishii Shoten, Dainihon Wood-Preserving, Eguchi
Lumber, Orvis Corp, Yokouchi Ringyo, Marutama Ind, Dai Lumber, Gifu Plastic
Inc, Eguchi Mokuzai, other.
Payment record: Regular
Location:
Business area in
Bank References:
Shiga
Bank (Nagahama)
Shoko
Chukin Bank (Hikone)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
30/06/2011 |
30/06/2010 |
30/06/2009 |
30/06/2008 |
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Annual
Sales |
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1,550 |
1,490 |
1,709 |
1,899 |
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Recur.
Profit |
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45 |
44 |
47 |
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Net
Profit |
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7 |
7 |
1 |
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Total
Assets |
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|
643 |
594 |
622 |
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Current
Assets |
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|
511 |
477 |
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Current
Liabs |
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214 |
122 |
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Net
Worth |
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233 |
228 |
229 |
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Capital,
Paid-Up |
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36 |
36 |
36 |
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Div.P.Share(¥) |
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25.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.03 |
-12.81 |
-10.01 |
2.04 |
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Current Ratio |
|
.. |
238.79 |
390.98 |
.. |
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N.Worth Ratio |
.. |
36.24 |
38.38 |
36.82 |
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R.Profit/Sales |
|
2.90 |
2.95 |
2.75 |
.. |
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N.Profit/Sales |
0.45 |
0.47 |
0.06 |
0.00 |
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Return On Equity |
.. |
3.00 |
0.44 |
0.00 |
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Notes:
Forecast (or estimated) figures for the 30/06/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.04 |
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|
1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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.