MIRA INFORM REPORT
|
Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
JSW PLASTIC MACHINERY SERVICE CO LTD |
|
|
|
|
Registered Office : |
1-1 Nishi-Eda Iwatsukacho Nakamuraku
Nagoya 453-0862 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
August
2007 |
|
|
|
|
Com. Reg. No.: |
(Nagoya-Nakamuraku) 062859 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, Export, Wholesale of plastic machines, plastic
products |
|
|
|
|
No. of Employees
: |
31 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 136.8 Million |
|
Status : |
Satisfactory |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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
JSW PLASTIC MACHINERY SERVICE CO LTD
REGD NAME
JSW Jushi Kikai
Service KK
MAIN OFFICE
1-1 Nishi-Eda
Iwatsukacho Nakamuraku Nagoya 453-0862 JAPAN
Tel:
052-412-1196 Fax: 052-413-4741
URL: http://www.jsw.co.jp (Of the
parent, Japan Steel Works)
E-Mail
address: (thru URL)
ACTIVITIES
Import,
export, wholesale of plastic machines, plastic products
BRANCHES
Noda
(Nakamuraku, Nagoya)
OFFICERS
KOICHI
MURAO, PRES Fumio
Wada, dir
Toshio
Kaneko, dir Tatsushi
Seko, dir
Seiji
Umamoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,440 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
562 M
STARTED 2007 EMPLOYES 31
COMMENT
TRADING FIRM SPECIALIZING IN PLASTIC MACHINERY, WHOLLY OWNED
BY JAPAN STEEL WORKS LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 136.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a trading division separated from Japan Steel Works Ltd (See REGISTRATION). This is a trading firm specializing in import, export and wholesale of plastic machinery & plastic products. Clients include heavy machinery makers, engineering firms, other.
FINANCIAL INFORMATION
Financial are consolidated by the parent, Japan Steel Works Ltd, and only partially disclosed.
The sales volume for Mar/2011 fiscal term amounted to Yen 2,440 million, an almost similar amount in the previous term. The net profit was posted at Yen 75 million, compared with Yen 82 million a year ago.
For the current term ending Mar 2012 the net profit is projected at Yen 80 million, on a 5% rise in turnover, to Yen 2,550 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 136.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Aug 2007
Regd No.: (Nagoya-Nakamuraku) 062859
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
8,000 shares
Issued: 2,000
shares
Sum: Yen 100 million
Major shareholders (%): Japan Steel Works Ltd* (100)
*.. One of world’s leading mfr of plastic machines and large steel
castings & forgings, founded 1950, listed Tokyo, Osaka, Nagoya, Fukuoka,
Sapporo S/E’s, capital Yen 19,694 million, sales Yen 212,929 million, operating
profit Yen 28,495 million, recurring profit Yen 26,168 million, net profit Yen
16,532 million, total assets Yen 339,263 million, net worth Yen 120,820
million, employees 4,880, pres Ikuo Sato
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales plastic machines & products (--100%)
Clients: [Mfrs, wholesalers]
SKCKOLON, Futamura Chemicals, Seika Corp, Inoue Kinzoku Kogyo, Mitsubishi
Chemical Engineering Corp, Mitsui Chemicals Tohcello Inc, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Heavy Ind, Japan Steel Works, Yokogawa Electric, Nomura
Plating Co, HALL, other
Payment record: Regular
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
· MUFG (Kyobashi)
· Hyakugo Bank (Hatta)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
Annual
Sales |
|
2,550 |
2,440 |
2,451 |
3,524 |
|
Recur.
Profit |
|
|
|
|
|
|
Net Profit |
|
80 |
75 |
62 |
212 |
|
Total
Assets |
|
|
1,833 |
N/A |
N/A |
|
Net
Worth |
|
|
562 |
487 |
425 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.51 |
-0.45 |
-30.45 |
204.32 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
30.66 |
.. |
.. |
|
|
N.Profit/Sales |
3.14 |
3.07 |
2.53 |
6.02 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
JAPAN STEEL WORKS LTD
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2010 |
31/03/2009 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
212,929 |
201,680 |
||
|
|
Cost of Sales |
155,433 |
143,708 |
|||
|
|
GROSS PROFIT |
57,496 |
57,971 |
|||
|
|
Selling & Adm Costs |
29,000 |
25,786 |
|||
|
|
OPERATING PROFIT |
28,495 |
32,185 |
|||
|
|
Non-Operating P/L |
673 |
-939 |
|||
|
|
RECURRING PROFIT |
29,168 |
31,246 |
|||
|
|
NET PROFIT |
16,532 |
17,528 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
41,187 |
45,646 |
||
|
|
Receivables |
|
45,197 |
42,431 |
||
|
|
Inventory |
|
82,240 |
71,180 |
||
|
|
Securities, Marketable |
|
|
|||
|
|
Other Current Assets |
16,843 |
12,261 |
|||
|
|
TOTAL CURRENT ASSETS |
185,467 |
171,518 |
|||
|
|
Property & Equipment |
117,540 |
111,166 |
|||
|
|
Intangibles |
|
1,005 |
1,236 |
||
|
|
Investments, Other Fixed Assets |
35,251 |
39,066 |
|||
|
|
TOTAL ASSETS |
339,263 |
322,986 |
|||
|
|
Payables |
|
45,013 |
36,232 |
||
|
|
Short-Term Bank Loans |
13,120 |
13,722 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
75,425 |
92,784 |
|||
|
|
TOTAL CURRENT LIABS |
133,558 |
142,738 |
|||
|
|
Debentures |
|
10,000 |
|
||
|
|
Long-Term Bank Loans |
37,535 |
28,170 |
|||
|
|
Reserve for Retirement Allw |
21,582 |
25,122 |
|||
|
|
Other Debts |
|
15,768 |
15,807 |
||
|
|
TOTAL LIABILITIES |
218,443 |
211,837 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Capital, Paid-Up |
19,694 |
19,694 |
|||
|
|
Surplus |
|
101,126 |
91,455 |
||
|
|
SHAREHOLDERS' EQUITY |
120,820 |
111,149 |
|||
|
|
TOTAL EQUITIES |
339,263 |
322,986 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2010 |
31/03/2009 |
||
|
|
Cash
Flows from Operating Activities |
|
21,774 |
45,668 |
||
|
|
Cash
Flows from Investment Activities |
-28,238 |
-38,287 |
|||
|
|
Cash
Flows from Financing Activities |
2,116 |
-2,687 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
41,116 |
45,603 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2010 |
31/03/2009 |
||||
|
|
|
Net
Worth (S/Holders' Equity) |
120,820 |
111,149 |
||
|
|
|
Current
Ratio (%) |
138.87 |
120.16 |
||
|
|
|
Net
Worth Ratio (%) |
35.61 |
34.41 |
||
|
|
|
Recurring
Profit Ratio (%) |
13.70 |
15.49 |
||
|
|
|
Net
Profit Ratio (%) |
7.76 |
8.69 |
||
|
|
|
Return
On Equity (%) |
13.68 |
15.77 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.89 |
|
UK Pound |
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.69.15 |
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.