MIRA INFORM REPORT
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Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
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Name : |
RINZAI, KK |
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Registered Office : |
31-1 Chiwari Ohkawamecho Kuji City
Iwate-Pref 028-0091 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2010 |
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Date of Incorporation : |
April 2006 |
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Com. Reg. No.: |
(Iwate-Kuji) 008168 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of plywood |
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 5.4 Million |
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Status : |
Small Company |
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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 – March 31st, 2011
|
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
RINZAI, KK
REGD NAME
KK Rinzai
MAIN OFFICE
31-1 Chiwari Ohkawamecho
Kuji City Iwate-Pref 028-0091 JAPAN
Tel:
0194-55-2321 Fax: 0194-55-2323
URL: N/A
ACTIVITIES
Mfg of
plywood
BRANCHES
Nil
FACTORIES
At the
caption address
OFFICERS
TOMOYASU
OKANO, PRES
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 340 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
21 M
STARTED 2006 EMPLOYES 18
COMMENT
MFR OF PLYWOOD.
FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR
CREDIT ENGAGEMENTS: CD$313,121.00
MAX CREDIT LIMIT: YEN 5.4
MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Tomoyasu Okano in order
to make most of his experience in the subject line of business. This is a family-based mfr of plywood and
veneer wood. Imports the material woods
from USA, Canada, S/E Asia, other.
FINANCIAL INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Nov/2011 fiscal term amounted to Yen 340 million, a
14% down from Yen 394 million in the previous term. Affected by the global economic downturn the
housing starts in Japan were slow.
Consumer spending was sluggish.
The net profit was posted at Yen 3 million, compared with Yen 4 million
a year ago.
For the current term ending Nov 2011 the net profit is projected at Yen
2 million, on a 12% fall in turnover, to Yen 300 million. The mfg factory was damaged by the recent
North Japan Earthquake & tsunami.
Business will be slack for the first half of the term.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. The
proposed amount, however, is considered TOO HIGH from the recent financial
status. Max credit limit is estimated at
Yen 5.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 2006
Regd No.: (Iwate-Kuji) 008168
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Naoko Okano (50), Hiroko Okano
(50)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures plywood,
veneer woods, other (--100%)
Clients: [House makers,
contractors] Noda Corporation, Inami Daiken Corp, other
No. of accounts: 200
Domestic areas of
activities: Centered in Iwate-Pref
Suppliers: [Mfrs,
wholesalers] Japan Wood Corp, Butsurin Co, Okano Mokuzai Co, Ikeuchi Veneer
Mfg, other
Payment record: Regular
Location: Business area in
Kuji City, Iwate-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Tohoku
Bank (Kuji)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/11/2011 |
30/11/2010 |
30/11/2009 |
30/11/2008 |
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Annual
Sales |
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300 |
340 |
394 |
440 |
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Recur.
Profit |
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Net
Profit |
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2 |
3 |
4 |
5 |
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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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21 |
18 |
14 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
-11.76 |
-13.71 |
-10.45 |
18.60 |
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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 |
0.67 |
0.88 |
1.02 |
1.14 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/11/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.72.49 |
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Euro |
1 |
Rs.63.87 |
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.