MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
SHIKOKU KAKOKI CO LTD |
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Registered Office : |
10-1 Nishinokawa
Tarohachisu Kitajimacho Itanogun |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
May 1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of filling/packaging systems, food processing |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 234.3 Million |
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Status : |
Satisfactory |
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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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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
SHIKOKU KAKOKI CO LTD
REGD NAME
MAIN OFFICE
10-1 Nishinokawa
Tarohachisu Kitajimacho Itanogun
Tel: 088-698-4141 Fax: 088-698-7391
URL: http//:www.shikoku-kakoki.co.jp
E-mail: (thru the URL)
ACTIVITIES
Mfg of
filling/packaging systems, food processing
BRANCHES
FACTORIES
At the
caption address, Anan, Gotemba,
OFFICER(S)
SHIGERU
UEDA, PRES Hideo Ueda, ch
Kojiro
Hayashi, s/mgn dir Iwao
Miura, s/mg dir
Hiroshi
Asai, mgn dir Fumiyuki
Iwano, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 32,368 M
PAYMENTS REGULAR CAPITAL Yen 145 M
TREND SLOW WORTH Yen
3,937 M
STARTED 1961 EMPLOYES 698
COMMENT
MFR OF
FOOD PROCESSING MACHINERY, FILLING MACHINERY, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 234.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Michio Ueda, now honorary ch at
the firm, in order to make most of his experience in the subject line of
business. This is a specialized mfr of
food processing machinery, filling/packaging systems, food processing, other. Nation’s top mfr of liquid filling
machinery/equipment. Has major
milk/beverage mfrs as shareholders.
Goods are also exported.
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 32,368
million, a 14% down from Yen 37,416 million in the previous term, as affected
substantially by the global economic downturn.
Demand declined both at home and abroad.
Exports were hurt by the high Yen, reducing revenues/profits in Yen
terms. The recurring profit was posted
at Yen 548 million and the net profit at Yen 221 million, respectively,
compared with Yen 724 million recurring profit and Yen 269 million net profit,
respectively, a year ago. .
For the current term ending Mar 2011 the recurring profit is projected
at Yen 530 million and the net profit at Yen 210 million, respectively, on a 1%
fall in turnover, to Yen 32,000 million.
Signs of recovery in business and demand are observed.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 234.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: May
1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1.16 million shares
Issued: 290,000 shares
Sum: Yen
145 million
Major shareholders (%): Michio Ueda (30), CBC (14.5),
Shigeru Ueda (14.2), Snow Brand Milk Products (13.8),
Yakult-Honsha (13.3), Kiyoko Ueda (8)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures food machinery:
(Machinery Div): filling/packaging systems, processing equipment, CIP
equipment, secondary packaging equipment, plant engineering (--46%); (Packaging
Materials Div): packaging materials for foods such as cups, bottles, sealing
film, aluminum foil, shrink wrapping film, other (--29%); (Food Div): soybean
processing products including soybean curd, other (--25%).
Export (15%)
Clients:
[Food processors, wholesalers] Yakult-Honsha, Meiji Dairies, Nippon Milk Community,
Morinaga Milk Ind, Glico Dairy Products, Ohayo Dairy Products, Nissin Foods
Holdings, ELOPAK, Nippon Paper-Pak, other
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Showa Denko
Packaging, DYNIC Corp, Nippon Paper-Pak, Kyoto Seisakusho, Akamatsu Kasei
Kogyo, other
Payment record: Regular
Location:
Business area in Itanogun,
Bank
References:
Shikoku Bank (
Shoko Chukin Bank (
Relations: Satisfactory
FINANCES (In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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32,000 |
32,368 |
37,416 |
37,314 |
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Recur.
Profit |
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530 |
548 |
724 |
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Net
Profit |
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210 |
221 |
269 |
257 |
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Total
Assets |
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40,180 |
41,261 |
40,497 |
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Current
Assets |
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25,354 |
25,768 |
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Current
Liabs |
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24,794 |
25,592 |
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Net
Worth |
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3,937 |
3,731 |
3,476 |
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Capital,
Paid-Up |
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145 |
145 |
145 |
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Div.P.Share(¥) |
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50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth
Rate |
-1.14 |
-13.49 |
0.27 |
7.32 |
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Current
Ratio |
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.. |
102.26 |
100.69 |
.. |
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N.Worth
Ratio |
.. |
9.80 |
9.04 |
8.58 |
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R.Profit/Sales |
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1.66 |
1.69 |
1.94 |
.. |
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N.Profit/Sales |
0.66 |
0.68 |
0.72 |
0.69 |
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Return
On Equity |
.. |
5.61 |
7.21 |
7.39 |
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Notes:
Forecast (or estimated) figures for the 31/03/2011 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.45.20 |
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1 |
Rs.73.16 |
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Euro |
1 |
Rs.61.88 |
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.