MIRA INFORM
REPORT
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Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
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Name : |
DAIEI PAPERS INTERNATIONAL CORPORATION |
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Registered Office : |
6-24 Akashicho Chuoku Tokyo 104-0044 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
April 2002 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 078028 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of
pulp & paper |
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 298.2 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
DAIEI PAPERS
INTERNATIONAL CORPORATION
REGD NAME
KK Daiei Papers International
Corporation
MAIN OFFICE
6-24 Akashicho
Chuoku Tokyo 104-0044 JAPAN
Tel:
03-5550-7397 Fax: 03-5550-7382
E-mail: info@dpic-jp.com
ACTIVITIES
Import,
export, wholesale of pulp & paper
BRANCHES
Osaka
OVERSEAS
USA,
Brazil, Hong Kong, Taipei, Singapore
OFFICER(S)
TAKAO
TOMIOKA, PRES Mitsuru
Suzuki, ch
Hidehiro
Adachi, mgn dir Takahiko
Kodera, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 42,527 M
PAYMENTS REGULAR CAPITAL Yen 450 M
TREND STEADY WORTH Yen
997 M
STARTED 2002 EMPLOYES 50
COMMENT
TRADING
FIRM SPECIALIZING IN PULP & PAPER
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$800,000 / O/A 90 DAYS
MAX
CREDIT LIMIT: YEN 298.2 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was
established on the basis of an international trading division separated from
Kokusai Pulp & Paper Ltd, wholesaler of pulp & paper, at the caption
address (See REGISTRATION). This is a trading firm for import, export and
wholesale of printing paper, newsprint, packaging board, plastic film, pulp
& paper, other. Have 5 overseas
offices to expand overseas operations.
FINANCIAL INFORMATION
The sales volume for
Dec 2010 fiscal term amounted to Yen 42,527 million, a 37% up from Yen 31,005
million in the previous term. Demand
recovered. Sales of packaging paper rose
due to steady demand in Asian market.
Exports grew. The operations came
back to profitability to post Yen 212 million recurring profit and Yen 280
million net profit, respectively, compared with Yen 408 million recurring
profit and Yen 1,546 million net losses, respectively, a year ago.
For the current term
ending Dec 2011 the recurring profit is projected at Yen 220 million and the
net profit at Yen 300 million, respectively, on a 5% rise in turnover, to Yen
44,500 million. Pulp sales should
benefit from export growth.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 298.2
million, on 30 days normal terms. The
proposed amount for 90 days terms is considered well within the firm’s
financial capacities.
REGISTRATION
Date Registered: Apr 2002
Regd No.: (Tokyo-Chuoku) 078028
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 36,000
shares
Issued: 9,000 shares
Sum: Yen 450 million
Major shareholders (%):
Kokusai Pulp & Paper Ltd* (100)
*.. Wholesaler of pulp & paper, at the caption address, founded 1924,
capital Yen 3,442 million, sales Yen 351,981 million, operating profit Yen 2,118
million, recurring profit Yen 2,456 million, net profit Yen 763 million, total
assets Yen 172,378 million, net worth Yen 29,393 million, employees 902, pres
Yasuo Akamatsu
Consolidated Financials are
attached (See SUPPLEMENTS)
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales pulp & paper, printing machines
(--100%).
(Handling items):-
Printing & writing paper: newsprint, telephone directory paper, drawing
paper, coated & uncoated paper & boards;
Packaging Paper: packaging paper & boards, container
boards;
Plastic Film: PET, PVC, water soluble films, metalized
PET;
Raw Materials: pulp & paper;
Machinery: offset printing machine, corrugated machines, labeling machines,
other.
Clients: [Mfrs, wholesalers] Exports to Daiei Australia, Daiei Papers Hong
Kong, Daiei Papers Singapore, Daiei Papers USA, other.
Domestically,
Kokusai Pulp & Paper, Nippon Paper-Pak Co, other
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Oji Paper, Nippon Paper Group Inc, Chuetsu Pulp
& Paper, Asahi Kasei Corp, Mitsubishi Heavy Ind, April Fine Papers, Oji Tac
Co, Stora Enso Japan, UPM Japan, Stora Enso Japan, other.
Payment record: Regular
Location: Business area in Tokyo. Office
premises at the caption address are owned by the parent, Kokusai Pulp &
Paper, and maintained satisfactorily.
Bank References:
Mizuho Corporate Bank (Ohtemachi)
SMBC (Kyobashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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44,500 |
42,527 |
31,005 |
48,897 |
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Recur.
Profit |
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220 |
212 |
408 |
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Net
Profit |
|
300 |
280 |
-1,546 |
-585 |
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Total
Assets |
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12,096 |
10,358 |
13,149 |
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Current
Assets |
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8,623 |
7,334 |
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Current
Liabs |
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9,089 |
8,913 |
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Net
Worth |
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997 |
-615 |
939 |
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Capital,
Paid-Up |
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450 |
450 |
450 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.64 |
37.16 |
-36.59 |
-20.44 |
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Current Ratio |
|
.. |
94.87 |
82.28 |
.. |
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N.Worth Ratio |
.. |
8.24 |
-5.94 |
7.14 |
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R.Profit/Sales |
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0.49 |
0.50 |
1.32 |
.. |
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N.Profit/Sales |
0.67 |
0.66 |
-4.99 |
-1.20 |
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Return On Equity |
.. |
28.08 |
.. |
-62.30 |
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Notes: Forecast (or estimated) figures for the 31/12/2011 fiscal
term
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
KOKUSAI PULP & PAPER LTD
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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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351,981 |
356,242 |
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Cost of Sales |
331,505 |
335,065 |
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GROSS PROFIT |
20,475 |
21,176 |
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Selling & Adm Costs |
18,357 |
19,046 |
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OPERATING PROFIT |
2,118 |
2,130 |
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Non-Operating P/L |
338 |
36 |
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RECURRING PROFIT |
2,456 |
2,166 |
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NET PROFIT |
763 |
425 |
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BALANCE SHEET |
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Cash |
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4,699 |
5,106 |
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Receivables |
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108,062 |
108,560 |
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Inventory |
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14,221 |
15,179 |
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Securities, Marketable |
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Other Current Assets |
3,070 |
1,873 |
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TOTAL CURRENT ASSETS |
130,052 |
130,718 |
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Property & Equipment |
26,239 |
25,729 |
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Intangibles |
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260 |
291 |
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Investments, Other Fixed Assets |
15,827 |
18,435 |
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TOTAL ASSETS |
172,378 |
175,173 |
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Payables |
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83,792 |
85,224 |
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Short-Term Bank Loans |
29,952 |
33,334 |
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Other Current Liabs |
9,392 |
9,078 |
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TOTAL CURRENT LIABS |
123,136 |
127,636 |
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Debentures |
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100 |
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Long-Term Bank Loans |
14,000 |
10,356 |
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Reserve for Retirement Allw |
678 |
664 |
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Other Debts |
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5,171 |
5,924 |
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TOTAL LIABILITIES |
142,985 |
144,680 |
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MINORITY INTERESTS |
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Common
stock |
3,442 |
3,442 |
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Additional
paid-in capital |
7,752 |
7,752 |
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Retained
earnings |
21,928 |
21,554 |
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Evaluation
p/l on investments/securities |
(2,311) |
(1,017) |
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Others |
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(709) |
(542) |
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Treasury
stock, at cost |
(709) |
(697) |
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TOTAL S/HOLDERS` EQUITY |
29,393 |
30,492 |
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TOTAL EQUITIES |
172,378 |
175,173 |
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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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-460 |
7,099 |
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Cash
Flows from Investment Activities |
-235 |
-1,544 |
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Cash Flows
from Financing Activities |
1,376 |
-6,966 |
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Cash,
Bank Deposits at the Term End |
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3,661 |
3,068 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
29,393 |
30,492 |
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Current
Ratio (%) |
105.62 |
102.41 |
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Net
Worth Ratio (%) |
17.05 |
17.41 |
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Recurring
Profit Ratio (%) |
0.70 |
0.61 |
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Net
Profit Ratio (%) |
0.22 |
0.12 |
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Return
On Equity (%) |
2.60 |
1.39 |
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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.44.85 |
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UK Pound |
1 |
Rs.73.29 |
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Euro |
1 |
Rs.64.89 |
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.