MIRA INFORM REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
CENTRAL CONSTRUCTION CO LTD |
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Registered Office : |
1-1 Noguchicho Minamata Kumamoto-Pref
867-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1970 |
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Com. Reg. No.: |
(Kumamoto-Minamata) 014339 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engineering works of machinery, electricity, construction |
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 26.4 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
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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
CENTRAL CONSTRUCTION CO LTD
REGD NAME
Central Koji KK
MAIN OFFICE
1-1 Noguchicho
Minamata Kumamoto-Pref 867-0053 JAPAN
Tel:
0966-63-5282 Fax: 0996-63-5835
URL: http://www.central-const-co.com
E-Mail address: (thru the URL)
ACTIVITIES
Engineering
works of machinery, electricity, construction, other
BRANCHES
Nil
FACTORIES
At the
caption address
OFFICERS
OSAMU
NAGANO, PRES Kuniteu
Tanaka, dir
Murao
Kamimura, dir Teiji
Yamaguchi, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 909 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
240 M
STARTED 1970 EMPLOYES 60
COMMENT
ENGINEERING WORKS, OWNED BY CHISSO CORPORATION.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 26.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of an engineering
division separated from Chisso Corporation (See REGISTRATION). This is an engineering works company offering
designing, management, instrumentation for machinery, piping arrangement,
electricity, civil engineering, construction, other. Also dispatches engineers to the construction
sites in: Europe, Thailand, Indonesia, Philippines, China, Taiwan, Korea,
India, Iran, other. Domestic clients
include chemical mfrs, electricity mfrs, other mfrs, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 909 million,
an 18% down from Yen 1,120 million in the previous term. Sales were affected by the global economic
downturn, particularly in the first half of the term. The recurring profit was posted at Yen 76
million and the net profit at Yen 43 million, compared with Yen 74 million recurring
profit and Yen 44 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 80 million and the net profit at Yen 45 million, respectively, on a 5%
rise in turnover, to Yen 950 million.
Market recovered. Business is on
the rise.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 26.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 1970
Regd No.: (Kumamoto-Minamata) 014339
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
8,000 shares
Issued: 2,000 shares
Sum: Yen 20 million
Major shareholders (%): Chisso Corp* (45), Chisso Engineering**
(43), Takahiro Settsu (4), Susumu Taniguchi (4), Susumu Tsurifune (4)
No. of shareholders: 5
*.. Chemical mfr, Tokyo, founded 1950, capital Yen 7,813 million, sales
Yen 245,958 million, operating profit Yen 29,337 million, recurring profit Yen
24,810 million, net losses Yen 26,316 million, total assets Yen 229,386
million, net worth Yen (-) 108,345 million, employees 3,126, pres Shun’ichi
Okada
**.. Engineering firm owned by
Chisso Corp
Consolidated
Financials of Chisso Corp is attached (See SUPPLEMENTS)
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Engineering
works offering designing, installation, maintenance, instrumentation services
for: machinery, construction, electricity, civil engineering, building, other
industries (--100%).
Clients: [Mfrs,
wholesalers] Chisso Corp, Japan Air Liquid, Chisso Engineering, Chisso
Environment Engineering, Denki Kagaku Kogyo, Kuraray Ltd, Kagoshima Oxiton,
Tokuyama Corp, Atlas Copco KK, Shirakawa Seisakusho Ltd, other
Covers the countries: Europe, Thailand, Indonesia, India, Philippines,
China, Taiwan, Korea, Iran, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Chisso Engineering, Settsu Metal Ind, Nakamatsu Kogyo, CROCS Co,
Taniguchi Tekkosho, Minato Stainless Mfg, other
Payment record: Regular
Location: Business area in
Minamata City, Kumamoto-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Higo Bank (Minamata)
Kumamoto
Family Bank (Minamata)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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950 |
909 |
1,120 |
1,108 |
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Recur.
Profit |
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80 |
76 |
74 |
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Net
Profit |
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45 |
43 |
44 |
22 |
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Total
Assets |
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631 |
636 |
1,007 |
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Current
Assets |
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572 |
575 |
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Current
Liabs |
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211 |
334 |
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Net
Worth |
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240 |
198 |
156 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
4.51 |
-18.84 |
1.08 |
-7.67 |
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Current Ratio |
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.. |
271.09 |
172.16 |
.. |
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N.Worth Ratio |
.. |
38.03 |
31.13 |
15.49 |
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R.Profit/Sales |
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8.42 |
8.36 |
6.61 |
.. |
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N.Profit/Sales |
4.74 |
4.73 |
3.93 |
1.99 |
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Return On Equity |
.. |
17.92 |
22.22 |
14.10 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
COSNOLIDATED FINANCAILS OF THE TOP
PARENT, CHISSO CORPORATION
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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245,958 |
261,170 |
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Cost of Sales |
189,944 |
209,876 |
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GROSS PROFIT |
56,013 |
51,294 |
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Selling & Adm Costs |
26,676 |
24,753 |
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OPERATING PROFIT |
29,337 |
26,540 |
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Non-Operating P/L |
-4,527 |
-4,476 |
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RECURRING PROFIT |
24,810 |
22,064 |
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NET PROFIT |
-26,316 |
10,502 |
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BALANCE SHEET |
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Cash |
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45,441 |
35,319 |
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Receivables |
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42,727 |
53,601 |
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Inventory |
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33,056 |
40,446 |
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Securities, Marketable |
7,000 |
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Other Current Assets |
7,784 |
19,128 |
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TOTAL CURRENT ASSETS |
136,008 |
148,494 |
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Property & Equipment |
68,134 |
70,139 |
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Intangibles |
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4,088 |
4,456 |
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Investments, Other Fixed Assets |
21,156 |
22,206 |
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TOTAL ASSETS |
229,386 |
245,295 |
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Payables |
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36,710 |
53,443 |
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Short-Term Bank Loans |
33,783 |
41,058 |
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Other Current Liabs |
31,278 |
29,632 |
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TOTAL CURRENT LIABS |
101,771 |
124,133 |
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Debentures |
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300 |
300 |
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Long-Term Bank Loans |
183,011 |
147,076 |
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Reserve for Retirement Allw |
13,470 |
13,109 |
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Other Debts |
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39,179 |
41,412 |
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TOTAL LIABILITIES |
337,731 |
326,030 |
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MINORITY INTERESTS |
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Common
stock |
7,813 |
7,813 |
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Additional
paid-in capital |
472 |
472 |
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Retained
earnings |
(129,930) |
(103,400) |
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Evaluation
p/l on investments/securities |
260 |
232 |
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Others |
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13,061 |
14,169 |
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Treasury
stock, at cost |
(21) |
(20) |
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TOTAL S/HOLDERS` EQUITY |
(108,345) |
(80,734) |
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TOTAL EQUITIES |
229,386 |
245,295 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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23,628 |
43,303 |
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Cash
Flows from Investment Activities |
-10,190 |
-10,215 |
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Cash
Flows from Financing Activities |
-3,985 |
1,454 |
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Cash,
Bank Deposits at the Term End |
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44,807 |
41,675 |
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ANALYTICAL RATIOS Terms
ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
(108,345) |
(80,734) |
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Current
Ratio (%) |
133.64 |
119.62 |
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Net
Worth Ratio (%) |
-47.23 |
-32.91 |
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Recurring
Profit Ratio (%) |
10.09 |
8.45 |
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Net
Profit Ratio (%) |
-10.70 |
4.02 |
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Return
On Equity (%) |
24.29 |
-13.01 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.95 |
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UK Pound |
1 |
Rs.72.12 |
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Euro |
1 |
Rs.63.67 |
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 |
---- |
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.