MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
NIHON KLINGAGE CO LTD |
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Registered Office : |
No.3 Gomi Bldg, 1-14-5 Ginza Chuoku Tokyo
104-0061 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
August 1953 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 061981 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of liquid level gages |
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 16.2 Million |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
NIHON KLINGAGE CO LTD
REGD NAME
Nihon Klingage KK
MAIN OFFICE
No.3 Gomi Bldg, 1-14-5
Ginza Chuoku Tokyo 104-0061 JAPAN
Tel: 03-3567-7002 Fax: 03-3535-3712
*.. The given address is its Soka Factory at: 1-7-3 Aoyagi Soka
Saitama-Pref
URL: http://www.klingage.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
liquid level gages
BRANCHES
Tokyo,
Osaka
OVERSEAS
Korea,
China
FACTORIES
Soka, as given
OFFICERS
TOMOKAZU
YOSHIDA, PRES Shigeru
Komazaki, dir
Takaaki
Sato, dir Kiyoko
Toya, dir
Hitomi
Toya, dir Fumiyoshi
Toya, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 846 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
903 M
STARTED 1953 EMPLOYES 62
COMMENT
MFR OF LIQUID LEVEL GAGES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 16.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by H Toya in order to make most of
his experience in the subject line of business.
The firm is owned by the Toya family, specializing in mfg liquid level
gages (See OPERATION for detailed
items). Clients include major heavy
machinery makers, nationwide.
FINANCIAL INFORMATION
Financial are only partially disclosed as is the case with family-based
companies.
The sales volume for Jun/2010 fiscal term amounted to Yen 846 million, a
21% down from Yen 1,069 million in the previous term, as substantially affected
by the global economic downturn, particularly in the first half of the
term. Exports were hurt by the high Yen,
decreasing revenues & profits in Yen terms.
The net profit was posted at Yen 29 million, compared with Yen 20
million a year ago.
For the term that ended Jun 2011 the net profit was projected at Yen 33
million, on a 10% rise in turnover, to Yen 930 million. Exports revived. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 16.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 1953
Regd No.: (Tokyo-Chuoku) 061981
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders (%): Hitomi Toya (43), Haruyo
Hasegawa (14), Jinbunsha (10), Fumiyoshi Toya
(5)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures liquid
level gages, other accessories (--100%);
(Mfg Items):
Direct Reading
Liquid Level Gages: for general purposes, high-pressure
high-temperature, low temperature;
Float Type Liquid
Level Gages: for general purpose, high-pressure high-temperature, low temperature;
MG magnet Float
Type Liquid Level Gages;
Boiler Water Level
Gages;
Level Switch,
Level Sensors, Valves (glove valves, gage cocks & various other
valves), other attachments;
Glass Products: Glass for Liquid Level
Gage (for water level gages, other), alkali resistant glass, metal-to-glass
sealed glass, other.
Clients: [Mfrs,
wholesalers] IHI Corp, JGC Corp, Mitsubishi Heavy Ind, Toyo Engineering,
Mitsubishi Chemical, Sumitomo Chemical, Mitsui Engineering & Shipbuilding
Co, Chiyoda Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] UEX, Eiwa Corp, Nippon Valqua Ind, Nakamura Mfg Co, Koshin Special
Glass Inc, Kawaguchi Mfg Co, Soma-SS Co Ltd, other.
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
·
Mizuho Bank (Senju)
·
Shoko Chukin Bank (H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2011 |
30/06/2010 |
30/06/2009 |
30/06/2008 |
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Annual
Sales |
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930 |
846 |
1,069 |
1,002 |
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Recur.
Profit |
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Net
Profit |
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33 |
29 |
20 |
20 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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903 |
874 |
854 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
9.93 |
-20.86 |
6.69 |
-7.99 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
3.55 |
3.43 |
1.87 |
2.00 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/06/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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.