MIRA INFORM
REPORT
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Report Date : |
22.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
OIKE & CO LTD |
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Registered Office : |
181 Tokusayamacho Nishi-iru Nishinotoin Bukkoji Shimogyoku
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Country : |
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Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
September 1947 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of coated plastic
films, plastic sheet |
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 598.2 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
OIKE & CO LTD
REGD NAME
Oike Kogyo KK
MAIN OFFICE
181 Tokusayamacho Nishi-iru
Nishinotoin Bukkoji Shimogyoku
Tel:
075-341-2151 Fax: 075-341-8058
URL: www.oike-kogyo.co.jp
E-mail: head@oike-kogyo.co.jp
ACTIVITIES
Mfg of
coated plastic films, plastic sheet, other
BRANCHES
FACTORIES
OFFICER(S)
HITOSHI
OIKE, PRES Tomoyuki
Fujibayashi, mgn dir
Ryosuke
Okamura, dir Shin’ya
Yamamoto, dir
Mitsuru
Iwasaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,604 M
PAYMENTS REGULAR CAPITAL Yen 202 M
TREND SLOW WORTH Yen
7,244 M
STARTED 1947 EMPLOYES 118
COMMENT
MFR OF
COATED PLASTIC FILMS, PLASTIC SHEETS, OTHER
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 598.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1876 by a certain Oike
for mfg gold & silver thread for use in traditional embroidery, on his
account. Incorporated in 1947 the firm
has been succeeded by his descendants.
Hitoshi Oike is the great grandson, who took the pres office in Aug
1998. This is a specialized mfr of
plastic films, plastic sheets, other, using core technology dry & wet
coatings. By combining these processes
the firm is able to participate in a wide range of industrial applications, the
firm says. By application the products
have a wide range of uses for: LCD, film of display panel, touch-panel
electrode, printed wire/circuit boards, electromagnetic wave, building windows,
metal plating substitution, packaging, cloth, food packaging, ink & paints,
interior fabrics, knit apparel, painting, other. In 2002, the firm acquired capital in “NIPO
SAS based in
FINANCIAL INFORMATION
The sales volume for May/2010 fiscal term amounted to Yen 16,604
million, a 33% up from Yen 12,459 million in the previous term. Demand from Electronics & IT industries
increased for use in touch panels, display panels, etc. Exports revived. The recurring profit was posted at Yen 660
million and the net profit at Yen 308 million, respectively, compared with Yen
235 million recurring profit and Yen 190 million net profit, respectively, a
year ago. .
For the current term ending May 2011 the recurring profit is projected
at Yen 700 million and the net profit at Yen 340 million, respectively, on a
10% rise in turnover, to Yen 18,200 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 598.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1947
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 16 million shares
Issued: 4.04 million shares
Sum: Yen 202 million
Major shareholders (%): Hitoshi Oike (20.6),
Employees’ S/Holding Assn (11.6), Bank of
No. of shareholders: 53
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
optical systems & display panels, electronics (for mobile phones, PDAs,
other), construction materials, environmental, automotive (for many industries,
thru materials such as glass that blocks ultraviolet light), functional
transfer film, patterning processing (adding fine patterns or specific
functions to a part of the material), flexible packaging materials, metallic
stamping foil, metallic leaf & powder, metallic yarn, other (--100%).
Clients: Mfrs, converter traders,
trading firms, wholesalers, other
No. of accounts: 600
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Teijin Ltd, Toray Ind, Unitika Ltd, Toyobo, Kansai Oike Kogyo,
Oike Fine Coating, Tanaka Kikinzoku Group, other
Payment record:
Regular
Location:
Business area in
Bank References:
·
Bank of
·
SMBC (
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/05/2011 |
31/05/2010 |
31/05/2009 |
31/05/2008 |
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Annual
Sales |
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18,200 |
16,604 |
12,459 |
18,622 |
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Recur.
Profit |
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700 |
660 |
235 |
967 |
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Net
Profit |
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340 |
308 |
190 |
543 |
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Total
Assets |
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15,431 |
13,928 |
14,603 |
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Current
Assets |
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9,249 |
7,216 |
7,847 |
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Current
Liabs |
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5,839 |
4,103 |
4,869 |
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Net
Worth |
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7,244 |
6,965 |
6,811 |
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Capital,
Paid-Up |
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202 |
202 |
202 |
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Div.Total
(\,000) |
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28,336 |
36,432 |
32384 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.61 |
33.27 |
-33.10 |
95.55 |
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Current Ratio |
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.. |
158.40 |
175.87 |
161.16 |
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N.Worth Ratio |
.. |
46.94 |
50.01 |
46.64 |
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R.Profit/Sales |
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3.85 |
3.97 |
1.89 |
5.19 |
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N.Profit/Sales |
1.87 |
1.85 |
1.53 |
2.92 |
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Return On Equity |
.. |
4.25 |
2.73 |
7.97 |
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Notes:
Forecast (or estimated) figures for the 31/05/2011 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.45.70 |
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1 |
Rs.72.78 |
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Euro |
1 |
Rs.61.65 |
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 |
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.