MIRA INFORM REPORT

 

 

Report Date :

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

shin nippon koki co ltd

 

 

Registered Office :

2-4-1 Kita-Kyuhojimachi Chuoku Osaka 541-0057

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

September 1949

 

 

Com. Reg. No.:

(Osaka-Chuoku) 077437

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of machine tools, industrial machinery, etc.

 

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 792.8 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 and address

 

SHIN NIPPON KOKI CO LTD

REGD NAME:    Shin Nippon Koki KK

MAIN OFFICE:  2-4-1 Kita-Kyuhojimachi Chuoku Osaka 541-0057 JAPAN

                        Tel: 066261-3131     Fax: 06-6264-1609

 

                        * The given address is its Tokyo Office at: Yanagiya Bldg, 2-1-10 Nihombashi

                        Chuoku Tokyo, as given

 

URL:                 http//:www.snkc.co.jp

E-mail:             export@snkc.co.jp        

 

 

ACTIVITIES

 

Mfg of machine tools, industrial machinery, other

 

BRANCHES   

 

Tokyo, Nagoya, Hiroshima

 

OVERSEAS   

 

USA (3), Germany (2), Thailand, China, Indonesia, Taiwan, Korea (--subsidiaries)

 

FACTORIES  

 

Shinodera, Misaki (--Osaka)

 

OVERSEAS   

 

Germany, Thailand

 

 

OFFICER(S)  

 

HISAKAZU YAMAGUCHI, PRES Genzo Yamaguchi, s/mgn dir

Nobutoshi Narimatsu, mgn dir                 Isamu Yamaguchi, dir

Hirohisa Yamaguchi, dir                          Toshiyuki Okuno, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          Yen 30,065 M

PAYMENTS      REGULAR         CAPITAL           Yen 1,000 M

TREND SLOW              WORTH            Yen 30,078 M

STARTED         1949                 EMPLOYES      706

 

 

COMMENT    

 

MFR OF MACHINE TOOLS & INDUSTRIAL MACHINERY 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 792.8 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established originally in 1898 by Takisaburo Wakayama for making iron tools, on his account.  Incorporated in 1949 and expanded operations into mfg machine tools, industrial machinery, other for supply centrally to auto & aircraft makers.  Diversified into canning machines, steel mill equipment, other.  Operates mfg/sales offices in USA, Germany, Thailand, China, other.  Also operates mfg plants in Germany and Thailand.  Clients are centrally auto makers, heavy machinery mfrs, aircraft mfrs, other, nationwide.

 

 

FINANCIAL INFORMATION

 

            The sales volume for Mar/2011 fiscal term amounted to Yen 30,065 million, a 1% down from Yen 30,406 million in the previous term.  Demand remained rather low.  The operations incurred a loss to post Yen 1,988 million recurring loss and Yen 2,553 million net losses, respectively, for the term.  The losses are referred to the hike in materials costs and high Yen that eroded earnings & profits in Yen terms, says the firm.  This compares with Yen 431 million recurring profit and Yen 355 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the operations are expected to come back to profitability to post Yen 400 million recurring profit and Yen 350 million net profit, respectively, on a 3% rise in turnover, to Yen 31,000 million.  Demand recovered, particularly in China, where demand from automakers is said strong.

           

            The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 792.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Sept 1949

Regd No.:        (Osaka-Chuoku) 077437

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　80 million shares

Issued:             　20 million shares

Sum:                　Yen 1,000 million

 

Major shareholders (%): Yamaguchi Kosan* (50), Daiwa Can Co** (45), MUFG (5)

 

* Holding Company

** Mfr of cans for food, beverages, beer, soft drinks, other, Tokyo, founded 1950, capital Yen 2,400 million, turnover Yen 184,021 million, net profit Yen 690 million, employees 1,521, pres Hisakazu Yamaguchi, concurrently

 

No. of shareholders: 3

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures industrial machinery (21%), machine tools (76%), others (3%).

Exports (42%).

 

(Mfg items):

Machine Tools: FMS/FMC systems, bridge type multi-centers, Plano-borers, precision vertical boring & milling machines, high speed milling machines, machine tools for aircraft parts, roll lathes, 3-D measuring machines, laser cutting machines, various types of machining centers, automation equipment, special-purpose machines;

Industrial Machinery: can mfg machines, canning machines & accessories, metal printing machines, cleaning system for various purposes, garbage disposal systems, plastic bottle mfg systems, aseptic filling systems;

Steel Mill Machinery & Centrifugal Cast Steel Pipes: steel mill equipment, automatic ladle lining equipment, centrifugally cast steel pipes of various steel grades (such as table rollers, cylinders, spools, piles, columns & oil loading pipes), various steel fabricated parts, various types of industrial machinery & equipment.

 

Clients: [Automakers, aircraft mfrs, heavy machinery mfrs] Toyota Motor, Nissan Motors, GM, Kobe Steel, Caterpillar, Komatsu Ltd, Mitsubishi Heavy Ind, Boeing, Daiwa Can, other

No. of accounts: 800

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Fanuc Ltd, Tsubaki Nakashima Co, Nippon Thompson, Tokyo Keiki Inc, other

 

Payment record: Regular

 

Location: Business area in Osaka.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

                        MUFG (Osaka)

                        Mizuho Corporate Bank (Osaka)

                        Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

31,000

30,065

30,406

39,848

Recur. Profit

　

400

-1,988

431

1,988

Net Profit

　

350

-2,553

355

-1,303

Total Assets

　

　

81,880

82,077

84,064

Current Assets

　

　

43,566

48,022

51,292

Current Liabs

　

　

31,776

33,986

35,351

Net Worth

　

　

30,078

30,983

30,647

Capital, Paid-Up

　

　

1,000

1,000

1,000

Div.P.Share(¥)

　

　

0.00

5.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.11

-1.12

-23.70

8.76

    Current Ratio

 

..

137.10

141.30

145.09

    N.Worth Ratio

..

36.73

37.75

36.46

    R.Profit/Sales

 

1.29

-6.61

1.42

4.99

    N.Profit/Sales

1.13

-8.49

1.17

-3.27

    Return On Equity

..

-8.49

1.15

-4.25

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.