MIRA INFORM REPORT
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Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MIYAKAWA ELECTRIC WORKS LTD |
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Registered Office : |
6-20-23 Shimomeguro Meguroku Tokyo
153-0064 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
April 1948 |
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Com. Reg. No.: |
(Tokyo-Meguroku) 005740 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of networking products, remote monitoring
systems |
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 161.7 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
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
MIYAKAWA ELECTRIC
WORKS LTD
REGD NAME
KK Miyakawa
Seisakusho
MAIN OFFICE
6-20-23
Shimomeguro Meguroku Tokyo 153-0064 JAPAN
Tel:
03-3713-1151 Fax: 03-3714-6267
URL: http://www.msk.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
networking products, remote monitoring systems, other
BRANCHES
Nil
FACTORIES
Yokohama
OFFICERS
KOTARO
MIYAKAWA, PRES
Shin’ichiro
Nishiyama, s/mgn dir
Sohei
Shiota, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,271 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
1,790 M
STARTED 1948 EMPLOYES 204
COMMENT
MFR OF TELECOMMUNICATIONS EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 161.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company
was established by father of Kotaro Miyakawa in order to make most of his
experience in the subject line of business.
This is a specialized mfr of telecommunications equipment, data
processing instruments, remote monitoring systems, networking products,
terminal, other. Clients include NTT and
telecommunications carriers, nationwide.
FINANCIAL INFORMATION
The sales volume for
Dec/2010 fiscal term amounted to Yen 2,271 million, a 9% down from Yen 2,485
million in the previous term. The
operations continued in the red to post Yen 98 million recurring loss and Yen
99 million net losses, respectively, compared with Yen 48 million recurring
loss and Yen 44 million net losses, respectively, a year ago.
For the current term
ending Dec 2011 the operations are projected to come back to profitability to
post Yen 50 million recurring profit and Yen 50 million net profit, respectively,
on a 6% rise in turnover, to Yen 2,400 million.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 161.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1948
Regd No.: (Tokyo-Meguroku) 005740
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Kotaro Miyakawa (20),
Shin’ichiro Miyakawa (6)
No. of shareholders: 72
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures telecommunication equipment/instruments: remote monitoring
systems, network products, terminals, other (--100%)
Clients: [Telecommunications carriers, electronics mfrs] NTT East Japan, NTT
West Japan, NTT, NTT DoCoMo, NEC, NEC Computer Techno, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Excel, Tokyo Electron Device, Kyoei Electronics
Co, Shinko Shoji Co, Wako Denshi Co, other
Payment record: Regular
Location: Business area in Tokyo. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Ebisu)
Mizuho
Bank (Meguro)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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2,400 |
2,272 |
2,485 |
2,496 |
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Recur.
Profit |
|
50 |
-98 |
-45 |
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Net
Profit |
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50 |
-99 |
-44 |
44 |
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Total
Assets |
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2,160 |
2,205 |
2,467 |
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Current
Assets |
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1,054 |
1,008 |
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Current
Liabs |
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370 |
318 |
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Net
Worth |
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1,790 |
1,889 |
1,933 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.63 |
-8.57 |
-0.44 |
11.38 |
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Current Ratio |
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.. |
284.86 |
316.98 |
.. |
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N.Worth Ratio |
.. |
82.87 |
85.67 |
78.35 |
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R.Profit/Sales |
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2.08 |
-4.31 |
-1.81 |
.. |
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N.Profit/Sales |
2.08 |
-4.36 |
-1.77 |
1.76 |
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Return On Equity |
.. |
-5.53 |
-2.33 |
2.28 |
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Notes:
Forecast (or estimated) figures for the 31/12/2011 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.44.05 |
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UK Pound |
1 |
Rs.72.40 |
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Euro |
1 |
Rs.63.46 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.