MIRA INFORM REPORT
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Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
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Name : |
REXXAM CO LTD |
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Registered Office : |
Soken Honmachi Bldg, 2-1-8 Minamihonmachi Chuoku Osaka 541-0054 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
November 1948 |
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Com. Reg. No.: |
(Osaka-Chuoku) 092225 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of electronics applied products, car parts, precision-machined products |
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 1,251.2 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 – 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
REXXAM CO LTD
REGD NAME
KK Rexxam
MAIN OFFICE
Soken Honmachi
Bldg, 2-1-8 Minamihonmachi Chuoku Osaka 541-0054 JAPAN
Tel:
06-6262-0871 Fax: 06-6264-6993
*.. The given address is its Sports Business Division
E-Mail address: hp-contact@rexxam.co.jp
ACTIVITIES
Mfg of
electronics applied products, car parts, precision-machined products
BRANCHES
Tokyo,
Nagoya
OVERSEAS
Ireland, Thailand, Czech, China (--subsidiaries & JV firms)
FACTORIES
Kagawa
(2), Ehime
OVERSEAS
China
(2), Ireland, Thailand, Czech
OFFICERS
SHINJI
OKANO, PRES Keiko
Okano, ch
Hiroyuki
Sumida, v pres Yoshinobu
Ushida, dir
Kiyoshige
Nagai, dir Toshio
Tsukada, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 37,825 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND UP WORTH Yen 19,063 M
STARTED 1948 EMPLOYES 917
COMMENT
MFR O ELECTRONICS APPLID PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,251.2
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kaoru Okano in order to make most
of his experience in the subject line of business, as Ryusho Co Ltd. Present executives are his descendants. Renamed as captioned in 2010. This is a specialized mfr, wholly owned by
the Okano family, of electronics applied products, car parts, ski gears,
snowboard boots, other (See OPERATION). Operates mfg factories overseas: China (2),
Ireland, Czech, and Thailand, all of subsidiaries & JV firms. Products are both imported and exported.
FINANCIAL INFORMATION
The sales volume for Dec/2010 fiscal term amounted to Yen 37,825
million, a 22% up from Yen 31,029 million in the previous term. Demand rose in China and other Asian emerging
countries. Production in China was
expanded. The net profit was posted at
Yen 1,283 million , compared with Yen 1,761 million a year ago.
For the current term ending Dec 2011 the net profit is projected at Yen
1,350 million, on a 6% rise in turnover, to Yen 40,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,251.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1948
Regd No.: (Osaka-Chuoku) 092225
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
280,000 shares
Issued: 97,600
shares
Sum: Yen 48.8 million
Major shareholders (%): Shinji Okano (27), Keiko Okano
(22), Fuminori Tsukada (12)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
electronics applied products: PCB visual inspectors, supercritical rinser &
dryer, claspers for automobiles, auto reflex vision tester, auto lens meter,
electronics products, burner controllers, metal processed products, car parts,
ski gears, snowboard boots, other (--100%).
Clients: [Mfrs,
wholesalers] Daikin Ind (25%), Rexxam Ireland, Panasonic Corp, Hitachi
Appliances, Tiger Corp, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Corp, Hoei Denki Co, Rohm Co, Ryoden Trading, Kuroda
Electric Co, Tachibana Eletech Co, Shirai Electronics Ind, Techno Associe Co,
Green Electronics Corp, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Semba-Chuo)
Mizuho
Bank (Minami-Semba)
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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40,000 |
37,825 |
31,029 |
38,848 |
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Recur.
Profit |
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Net
Profit |
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1,350 |
1,283 |
1,761 |
2,016 |
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Total
Assets |
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35,551 |
32,540 |
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Current
Assets |
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28,318 |
25,652 |
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Current
Liabs |
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11,230 |
10,164 |
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Net
Worth |
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19,063 |
17,780 |
16,019 |
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Capital,
Paid-Up |
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48 |
48 |
48 |
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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 |
5.75 |
21.90 |
-20.13 |
-9.98 |
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Current Ratio |
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.. |
252.16 |
252.38 |
.. |
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N.Worth Ratio |
.. |
53.62 |
54.64 |
.. |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
3.38 |
3.39 |
5.68 |
5.19 |
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Return On Equity |
.. |
6.73 |
9.90 |
12.59 |
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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 |
|
US Dollar |
1 |
Rs.44.80 |
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UK Pound |
1 |
Rs.72.86 |
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Euro |
1 |
Rs.63.11 |
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.