MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TOPPAN M&I
LTD |
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Registered Office : |
Arimino Bldg 5F,
1-5-22 Shimoochiai Shinjukuku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
1976 |
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Com. Reg. No.: |
(Tokyo-Kotoku) 014503 |
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Legal Form : |
Limited Company |
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Line of Business : |
IBM Solution Provider: |
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 321.9 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
TOPPAN M&I LTD
REGD NAME: Toppan
M&I KK
Company
MAIN OFFICE
Arimino Bldg 5F,
1-5-22 Shimoochiai Shinjukuku
Tel:
03-5330-9090
URL: http//:www.toppanmi.jp
E-mail: (thru the URL)
ACTIVITIES
IBM
solution provider
BRANCHES
OFFICER(S)
TETSUO
YAMAMOTO, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,606 M
PAYMENTS REGULAR CAPITAL Yen 400 M
TREND SLOW WORTH Yen
2,631 M
STARTED 1976 EMPLOYES 175
COMMENT
IBM
SOLUTION PROVIDER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 321.9
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Toppan Printing Co
Ltd (See REGISTRATION) for handling
IBM computer, peripherals, software, etc and later Mitani Corp (See
REGISTRATION) joined with capital participation. This is IBM solution provider. Clients are Toppan Printing and Mitani Corp.
FINANCIAL
INFORMATION
Financials are disclosed only digested form.
The sales volume for Mar/2010 fiscal term amounted to Yen 9,606
million, a 12% down from Yen 10,858 million in the previous term. Sales were substantially affected by the
global economic downturn. Consumer
spending was sluggish. The net profit
was posted at Yen 196 million, compared with Yen 215 million a year ago. .
For the term that just ended Mar 2011 the net profit was
projected at Yen 200 million, on a 9% rise in turnover, to Yen 10,500
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 321.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1976
Regd No.: (Tokyo-Shinjukuku) 014503
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 800,000
shares
Sum: Yen 400 million
Major shareholders (%):
Mitani Corp* (60), Toppan Printing Co** (31), Company’s Treasury Stock (9)
No. of shareholders: 3
*.. Mitani Corp, trading company
specializing in building materials & fuels, Fukui, listed Tokyo S/E (second
section), capital Yen 5,008 million, sales Yen 325,562 million, operating
profit Yen 7,934 million, recurring profit Yen 8,612 million, net profit Yen
4,485 million, total assets Yen 137,150 million, net worth Yen 63,447 million,
employees 1,920, pres Akira Mitani
Consolidated
Financials are attached (See SUPPLEMENTS)
**.. Toppan Printing Co Ltd, one
of two largest printing companies, Tokyo, listed Tokyo S/E, capital Yen 104,986
million, sales Yen 1,506,750 million, operating profit Yen 38,237 million,
recurring profit Yen 39,191 million, net profit Yen 11,703 million, total
assets Yen 1,609,299 million, net worth Yen 733,305 million, employees 49,141,
pres Shingo Kaneko
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: IBM solution provider: PC’s,
peripherals, software, other (--100%)
Clients: [Mfrs] Toppan Printing Co, Mitani
Corp.
No. of accounts: 2 (direct
clients)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] IBM Japan, Techno
Toppan Forms, Soft Bank BB, other
Payment record:
Regular
Location: Business area in
Bank References:
MUFG
(H/O)
Mizuho
Bank (Takatanobaba)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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10,500 |
9,606 |
10,868 |
11,172 |
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Recur.
Profit |
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Net
Profit |
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200 |
196 |
215 |
416 |
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Total
Assets |
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5,006 |
4,716 |
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Current
Assets |
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4,813 |
4,511 |
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Current
Liabs |
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2,196 |
2,034 |
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Net
Worth |
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2,631 |
2,521 |
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Capital,
Paid-Up |
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400 |
400 |
400 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.31 |
-11.61 |
-2.72 |
0.55 |
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Current Ratio |
|
.. |
219.17 |
221.78 |
.. |
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N.Worth Ratio |
.. |
52.56 |
53.46 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
1.90 |
2.04 |
1.98 |
3.72 |
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Return On Equity |
.. |
7.45 |
8.53 |
.. |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF MITANI CORP
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FINANCES: (Consolidated in million yen) |
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Terms Ending: |
31/03/2010 |
31/03/2009 |
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INCOME STATEMENT |
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Annual Sales |
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325,562 |
369,130 |
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Cost of Sales |
292,660 |
333,829 |
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GROSS PROFIT |
32,901 |
35,301 |
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Selling & Adm Costs |
24,967 |
27,021 |
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OPERATING PROFIT |
7,934 |
8,279 |
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Non-Operating P/L |
678 |
536 |
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RECURRING PROFIT |
8,612 |
8,815 |
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NET PROFIT |
4,485 |
3,741 |
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BALANCE SHEET |
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Cash |
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28,159 |
22,298 |
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Receivables |
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63,589 |
64,408 |
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Inventory |
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4,866 |
5,668 |
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Securities, Marketable |
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Other Current Assets |
5,030 |
6,517 |
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TOTAL CURRENT ASSETS |
101,644 |
98,891 |
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Property & Equipment |
24,660 |
27,051 |
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Intangibles |
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1,510 |
1,889 |
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Investments, Other Fixed
Assets |
9,336 |
10,053 |
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TOTAL ASSETS |
137,150 |
137,884 |
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Payables |
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48,740 |
48,714 |
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Short-Term Bank Loans |
6,265 |
6,508 |
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Other Current Liabs |
11,771 |
13,655 |
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TOTAL CURRENT LIABS |
66,776 |
68,877 |
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Debentures |
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Long-Term Bank Loans |
3,436 |
5,102 |
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Reserve for Retirement
Allw |
1,129 |
1,086 |
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Other Debts |
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2,361 |
3,733 |
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TOTAL LIABILITIES |
73,702 |
78,798 |
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MINORITY INTERESTS |
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Common stock |
5,008 |
5,008 |
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Additional paid-in capital |
5,636 |
5,636 |
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Retained earnings |
47,461 |
43,407 |
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Evaluation p/l on investments/securities |
20 |
(34) |
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Others |
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6,917 |
6,668 |
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Treasury stock, at cost |
(1,595) |
(1,599) |
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TOTAL S/HOLDERS`
EQUITY |
63,447 |
59,086 |
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TOTAL EQUITIES |
137,150 |
137,884 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2010 |
31/03/2009 |
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Cash Flows from Operating Activities |
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11,278 |
15,389 |
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Cash Flows from Investment Activities |
-2,703 |
-4,451 |
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Cash Flows from Financing Activities |
-2,719 |
-2,719 |
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Cash, Bank Deposits at the Term End |
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28,087 |
22,240 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2010 |
31/03/2009 |
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Net Worth (S/Holders' Equity) |
63,447 |
59,086 |
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Current Ratio (%) |
152.22 |
143.58 |
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Net Worth Ratio (%) |
46.26 |
42.85 |
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Recurring Profit Ratio (%) |
2.65 |
2.39 |
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Net Profit Ratio (%) |
1.38 |
1.01 |
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Return On Equity (%) |
7.07 |
6.33 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
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|
1 |
Rs.72.08 |
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Euro |
1 |
Rs.63.66 |
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 |
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-- |
NB |
New Business |
-- |
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.