MIRA INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ARAI SEISAKUSHO CO LTD |
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Registered Office : |
953-1 Dai Tsukubamirai Ibaraki-Pref
305-0875 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
March 1956 |
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Com. Reg. No.: |
(Ibaraki-Tsukuba) 000720 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of automotive parts |
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 267.4 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
|
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
ARAI SEISAKUSHO CO
LTD
REGD NAME
KK Arai Seisakusho
MAIN OFFICE
953-1 Dai Tsukubamirai
Ibaraki-Pref 305-0875 JAPAN
Tel:
029-857-2789 Fax: 029-837-2785
E-Mail address: info@arai-net.com
ACTIVITIES
Mfg of
automotive parts
BRANCHES
Hamamatsu,
Nagoya, other
OVERSEAS
USA,
China (2), Indonesia, India, Thailand, Vietnam (--subsidiaries)
FACTORIES
At the
caption address, Tsukuba-Nishi (Ibaraki-Pref)
OFFICERS
GOICHI
MORI, PRES Miyo
Mori, ch
Shin Yamanaka,
mgn dir Keisuke
Nishioka, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 13,300 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
4,450 M
STARTED 1956 EMPLOYES 209
COMMENT
MFR OF AUTOMOTIVE PARTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 267.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by M Mori in order to make most of
his experience in the subject line of business.
Goichi is his son. This is a
specialized mfr of automotive parts & components. Operates 7 overseas subsidiaries. Clients include major automakers, heavy
machinery makers, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 13,300
million, a 19% up from Yen 11,153 million in the previous term. Demand increased. Exports were robust into China and other S/E
Asia. The recurring profit was posted at
Yen 245 million and the net profit at Yen 2,066 million, respectively, compared
with Yen 127 million recurring profit and Yen 71 million net losses,
respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 250 million and the net profit at Yen 200 million, respectively, on a 5%
rise in turnover, to Yen 14,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 267.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1956
Regd No.: (Ibaraki-Tsukuba) 000720
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2
million shares
Issued: 725,000 shares
Sum: Yen 100 million
Major shareholders (%): Miyo Arai (21), Goichi Arai
(16), Nippon Life Ins (9), Tomoko Mori (6), other
No. of shareholders: 38
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
automotive parts & components (--100%)
Clients: [Auto makers,
heavy machinery makers, wholesalers] Honda Motors, Toyota Motors, Yamaha Motor,
Suzuki Motor, Kawasaki Heavy Ind, Canon Inc, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Toyota Motors, Arai Niigata, other.
Payment record: Regular
Location: Business area in
Tsukuba-Mirai, Ibaraki-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
·
MUFG (Asakusabashi)
·
Resona Bank (Horikiri)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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14,000 |
13,300 |
11,153 |
14,749 |
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Recur.
Profit |
|
250 |
245 |
127 |
-147 |
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Net
Profit |
|
200 |
2,066 |
-71 |
-2,307 |
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Total
Assets |
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|
16,499 |
14,008 |
13,375 |
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Current
Assets |
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6,074 |
6,054 |
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Current
Liabs |
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7,206 |
6,468 |
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Net
Worth |
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4,450 |
2,449 |
2,134 |
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Capital,
Paid-Up |
|
|
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 |
5.26 |
19.25 |
-24.38 |
-19.08 |
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Current Ratio |
|
.. |
84.29 |
93.60 |
.. |
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N.Worth Ratio |
.. |
26.97 |
17.48 |
15.96 |
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R.Profit/Sales |
|
1.79 |
1.84 |
1.14 |
-1.00 |
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N.Profit/Sales |
1.43 |
15.53 |
-0.64 |
-15.64 |
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Return On Equity |
.. |
46.43 |
-2.90 |
-108.11 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.69 |
|
UK Pound |
1 |
Rs.75.29 |
|
Euro |
1 |
Rs.65.77 |
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.