MIRA INFORM
REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
D I ENGINEERING CORPORATION |
|
|
|
|
Registered Office : |
SG Bldg 3F, 3-7-10 Yokogawa Sumidaku Tokyo
130-0003 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
April 1980 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Sumidaku) 028124 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, wholesale
of can-mfg equipment, PET bottle mfg equipment |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
Yen 24.3 Million |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Japan |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
D I ENGINEERING CORPORATION
REGD NAME
D I Engineering KK
MAIN OFFICE
SG Bldg 3F, 3-7-10
Yokogawa Sumidaku Tokyo 130-0003 JAPAN
Tel:
03-5819-3461 Fax: 03-5819-3481
E-Mail address: info@diec.co.jp
ACTIVITIES
Import,
wholesale of can-mfg equipment, PET bottle mfg equipment
BRANCHES
Nil
OVERSEAS
USA,
China (2), Singapore
OFFICERS
HIROSHI
YAMAZAKI, PRES
Yoshiaki
Tanigawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,131 M
PAYMENTS REGULAR CAPITAL Yen 68 M
TREND SLOW WORTH Yen
322 M
STARTED 1980 EMPLOYES 26
COMMENT
TRADING FIRM SPECIALIZING IN IMPORT & WHOLESALE OF
CAN/BOTTLE MFG EQUIPMENT.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 24.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was
established jointly by three local mfg companies to advance into importing
can/bottle mfg equipment, other. This is
a trading firm specializing in import and wholesale of can & bottle mfg
equipment (See OPERATION). Goods are imported from USA, China,
Singapore, other. Operates subsidiaries
in China, USA and Singapore.
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 3,131 million, a 38% down from Yen 5,060
million in the previous term, as affected substantially by the global economic
downturn. Demand decline
substantially. Consumer spending was
sluggish. The recurring profit was
posted at Yen 125 million and the net profit at Yen 36 million, compared with
Yen 61 million recurring profit and Yen 15 million net profit, respectively, a
year ago.
For the term that
ended Mar 2011 the recurring profit was projected at Yen 130 million and the
net profit at Yen 40 million, respectively, on a 10% rise in turnover, to Yen
3,450 million. The Mar 11 Earthquake
damaged production sites in the area, and final results are being still worked,
to finally determine the extent of damage losses. Final results are yet to be produced.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 24.3
million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1980
Regd No.: (Tokyo-Sumidaku) 028124
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
548,000 shares
Issued: 137,240 shares
Sum: Yen 68.62 million
Major shareholders (%): Hiroshi Yamazaki (67), Yoshiaki
Hasegawa (8), Company’s Treasury Stock (6)
No. of shareholders: 13
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales can/bottle mfg equipment, filling line
equipment, others (--100%).
(Handling Items):
Can-Manufacturing Equipment: coil car, coil handling, coil feeder, cupping
press, conveyor, body-maker, trimmer, washer, base coater, printer/decorator,
bottom rim coater, pin oven, inside spray machine, oven, necker/flanger, light
tester, palletizer, others;
End-Making Equipment: coil handling, coil feeder, shell system,
conversion system, compound liner, end dryer, balancer, end conveyor,
counter/bagger, end palletizer;
PET Bottle Manufacturing Equipment: PET bottle mfg equipment, PET bottle
trimmer, vision inspection system, film thickness measurement equipment,
conveyor;
Filling Line Equipment: air conveyor, accumulation system, shrink
wrap packer, seamer, infeed system, blower, monitoring equipment, case packer,
vision inspection system, other.
Clients: [Mfrs, wholesalers] Toyo Seikan, Next Can Innovation, Universal Can
Corp, Showa Aluminum Can KK, Nihon National Can, Marubeni Techno Systems,
Saiwai Trading Co, OS Machinery Corp, Shikoku Kakoki Co, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] KORTEC, Stolle Machinery, Roeslein & Associates,
FGWA, Belvac Proclation, ASC Machinery Tools, Universal Can Corp, Ashworth
Bros, Takeuchi Press Ind, Ozaki Ind Inc, other
Payment record: Regular
Location: Business area in Tokyo. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References:
· MUFG (Oshiage)
· Hokuriku Bank (Asakusa)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
|
|
Annual
Sales |
|
3,450 |
3,131 |
5,060 |
2,888 |
|
Recur.
Profit |
|
130 |
125 |
61 |
|
|
Net
Profit |
|
40 |
36 |
15 |
19 |
|
Total
Assets |
|
|
2,870 |
2,518 |
1,499 |
|
Current
Assets |
|
|
2,281 |
2,233 |
|
|
Current
Liabs |
|
|
1,857 |
1,702 |
|
|
Net Worth |
|
|
322 |
292 |
283 |
|
Capital,
Paid-Up |
|
|
68 |
68 |
68 |
|
Div.P.Share(¥) |
|
|
35.00 |
35.00 |
35.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.19 |
-38.12 |
75.21 |
91.77 |
|
|
Current Ratio |
|
.. |
122.83 |
131.20 |
.. |
|
N.Worth Ratio |
.. |
11.22 |
11.60 |
18.88 |
|
|
R.Profit/Sales |
|
3.77 |
3.99 |
1.21 |
.. |
|
N.Profit/Sales |
1.16 |
1.15 |
0.30 |
0.66 |
|
|
Return On Equity |
.. |
11.18 |
5.14 |
6.71 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.17 |
|
UK Pound |
1 |
Rs.73.72 |
|
Euro |
1 |
Rs.64.26 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.