MIRA INFORM REPORT
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Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
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Name : |
WAC DATA SERVICE CO LTD |
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Registered Office : |
2-12-8 Nishi-Mizuhodai Fujimi Saitama-Pref
354-0018 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2010 |
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Date of Incorporation : |
September 1967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of knitting machines, parts & components |
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No. of Employees
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17 persons |
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 42.1 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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
WAC DATA SERVICE CO LTD
REGD NAME
Wac Data Service
KK
MAIN OFFICE
2-12-8
Nishi-Mizuhodai Fujimi Saitama-Pref 354-0018 JAPAN
Tel:
049-251-7777 Fax: 049-254-5080
E-Mail address: (thru
the URL)
ACTIVITIES
Mfg of
knitting machines, parts & components
BRANCHES
Nil
OVERSEAS
China,
Korea, Italy
PARTNERS
China
(6), Korea, Italy, Spain
FACTORIES
At the
caption address
OFFICERS
KAZUHISA
WATANABE, PRES Kazuaki
Koyasu, dir
Tatsuto
Sawada, dir Yuhiko
Sato, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,239 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen
307 M
STARTED 1967 EMPLOYES 17
COMMENT
MFR OF KNITTING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 42.1
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Rikio Watanabe in order to make most o his experience in the subject line of business. Kazuhisa is his son, who took the pres office in Mar 2001. This is a specialized mfr of computer-controlled knitting machines & software. 95% of the products are exported to China, Asia and Europe. Has 9 overseas business partners.
FINANCIAL INFORMATION
The sales volume for Feb/2011 fiscal term amounted to Yen 2,239 million, a 132% up from Yen 967 million in the previous term. Exports to China and Europe rose steeply, particularly into China. The recurring profit was posted at Yen 305 million and the net profit at Yen 247 million, respectively, compared with Yen 51 million recurring profit and Yen 13 million net profit, respectively, a year ago.
For the current term ending Feb 2012 the recurring profit is projected at Yen 320 million and the net profit at Yen 260 million, respectively, on a 12% rise in turnover, to Yen 2,500 million. Exports continue rising.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 42.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1967
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Kazuhisa Watanabe (50.7), Akira
Enomoto (14.3), Takashi Enomoto (14), Fujito Matsushita (5.2)
No. of shareholders: 11
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures microcomputer-controlled knitting machines & equipment: high-speed actuators (76.9), high-speed controllers (3.7%), other parts & components (-19.4%)
Exports (95%): China, S/E Asia, Europe, other
Clients: [Makers, wholesalers] Santoni Shanghai, Santoni Corp, B & Plus KK, Tianjin Zhong Hong Kong, Data Kong Enterprise Co, other
Exports to: China, S/E Asia, Europe, other
No. of accounts: 100
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] B & Plus KK, Nihon Ceratec Co, Maki Electronic Resources, Shindengen Electric Mfg Ind, Henmi Slide Rule Co, other
Payment record: Regular
Location: Business area in Fujimi City, Saitama-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
· MUFG (Ikebukuro-Higashiguchi)
· Musashino Bank (Mizuhodai)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
29/02/2012 |
28/02/2010 |
28/02/2009 |
31/03/2009 |
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Annual
Sales |
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2,500 |
2,239 |
967 |
889 |
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Recur.
Profit |
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320 |
305 |
51 |
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Net
Profit |
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260 |
247 |
13 |
-109 |
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Total
Assets |
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1,063 |
655 |
779 |
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Current
Assets |
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913 |
547 |
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Current
Liabs |
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423 |
263 |
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Net
Worth |
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307 |
59 |
46 |
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Capital,
Paid-Up |
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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 |
11.66 |
131.54 |
8.77 |
-42.98 |
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Current Ratio |
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.. |
215.84 |
207.98 |
.. |
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N.Worth Ratio |
.. |
28.88 |
9.01 |
5.91 |
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R.Profit/Sales |
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12.80 |
13.62 |
5.27 |
.. |
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N.Profit/Sales |
10.40 |
11.03 |
1.34 |
-12.26 |
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Return On Equity |
.. |
80.46 |
22.03 |
.. |
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Notes:
Forecast (or estimated) figures for the 29/02/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.96 |
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UK Pound |
1 |
Rs.82.04 |
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Euro |
1 |
Rs.68.91 |
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.