MIRA INFORM REPORT
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Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
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Name : |
MEIWA GRAVURE CO LTD |
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Registered Office : |
12-28 Kashita Higashimachi Higashi-Osaka
Osaka—Pref 577-8510 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
February 1953 |
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Com. Reg. No.: |
(Osaka-Higashiosaka) 007426 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of table cloths, window film, gravure printed
industrial materials, key sheets |
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 258.2 Million |
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Status : |
Moderate |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
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
MEIWA GRAVURE CO
LTD
REGD NAME
Meiwa Gravure KK
MAIN OFFICE
12-28 Kashita
Higashimachi Higashi-Osaka Osaka—Pref 577-8510 JAPAN
Tel:
06-6722-1131 Fax: 06-6736-1855
URL: http//:www.mggn.co.jp
E-mail: info@mggn.co.jp
ACTIVITIES
Mfg of
table cloths, window film, gravure printed industrial materials, key sheets
BRANCHES
Tokyo,
Sapporo, Osaka, Nagoya, Fukuoka, Aomori, other (Tot 11)
FACTORIES
At the
caption address, Gyoda (Saitama)
OVERSEAS
Indonesia
(PT Meiwa Indonesia)
OFFICER(S)
Yasuhiro
Oshima, ch NORIHIRO
OSHIMA, PRES
Hirohisa
Oshima, mgn dir Yoshio Minakami,
dir
Kazuo
Kondoh, dir Takeshi
Iwakura, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,474 M
PAYMENTS REGULAR CAPITAL Yen
320 M
TREND SLOW WORTH Yen
3,164 M
STARTED 1953 EMPLOYES 444
COMMENT
MFR OF TABLE CLOTHS, WINDOW FILM, GRAVURE PRINTED INDUSTRIAL MATERIALS,
KEY SHEETS, OTHER
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY MODERATE
BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN 258.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Yasuhiro Ohshima in order to make
most of his experience in the subject line of business. Norihiro is his son. This is a specialized mfr of interior goods:
table cloths, window film & sheets, gravure printed industrial materials,
key sheets, medical products, other.
Pioneer of commercialized gravure printing on plastics in Japan.
Window sheets function as: creative privacy, UV protection (blocking 99%
of UV ray), reduce heat, reduce glare, reduce fading, energy saving,
other. Clients include major printing
houses. Has a factory in Indonesia,
employing 2,500 workers.
FINANCIAL INFORMATION
The sales volume for Sept/2010 fiscal term amounted to Yen 14,474
million, a 2% down from Yen 14,776 million in the previous term, as affected by
the global economic downturn, particularly in the first half of the term. Consumer spending was sluggish The recurring profit was posted at Yen 1,151
million and the net profit at Yen 681 million, respectively, compared with Yen
528 million recurring profit and Yen 186 million net profit, respectively, a
year ago. Cost-cutting efforts,
including sales/administration costs (reducing 4% from previously), contributed
to the profit improvement.
For the current term ending Sept 2011 the recurring profit is projected
at Yen 1,200 million and the net profit at Yen 700 million, respectively, on a
7% rise in turnover, to Yen 15,500 million.
Sales of window film & sheets will grow as affected by electricity
shortage after the recent Earthquake damage of N-power plant. Government set the rate of electricity
usage/saving at 15% decrease for all corporations/makers and household.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 258.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1953
Regd No.: (Osaka-Higashiosaka)
007426
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,560,000
shares
Issued: 640,000
shares
Sum: Yen 320 million
Major shareholders (%): Norihiro Ohshima (43), Osaka Small/Medium
Business Promotion & Investment Assn (21), Employees’ S/Holding Assn (12),
Executives’ S/Holding Assn (5), Resona Bank (5)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
gravure printed plastic products (70%), table cloths, key sheets for electric
equipment, medical operation sheets, numbered dental X-ray films, window film
& sheets (25%), plastic floorings (3%), other (2%)
Exports (18%)
Clients: [Mfrs, wholesalers]
Kohnan Shoji, DCM Holding, Aeon Co, Dai Nippon Printing, Toppan Printing, Sharp
Corp, Beisha, Keiyo Co, Mitsumi Electric Co, Nabtesco Corp, Keiyo Co, Shimachu
Co, Nitto Denko Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] CBC, Achilles Corp, Fuji Corp, Okamoto, Panac Co, Toli Corp, other
Payment record: Regular
Location:
Business area in Higashi-Osaka City, adjacent to Osaka City. Office premises at the caption address are owned
and maintained satisfactorily.
Bank References:
Resona
Bank (Osaka)
MUFG
(Higashi-Osaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
30/09/2011 |
30/09/2010 |
30/09/2009 |
30/09/2008 |
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Annual
Sales |
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15,500 |
14,474 |
14,776 |
16,718 |
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Recur.
Profit |
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1,200 |
1,151 |
528 |
523 |
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Net
Profit |
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700 |
681 |
186 |
258 |
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Total
Assets |
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10,888 |
11,463 |
10,824 |
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Current
Assets |
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6,442 |
6,575 |
6,120 |
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Current
Liabs |
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4,526 |
4,863 |
5,388 |
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Net
Worth |
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|
3,164 |
2,529 |
2,393 |
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Capital,
Paid-Up |
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|
320 |
320 |
320 |
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Div.P.Share(¥) |
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|
50.00 |
50.00 |
50.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
3.88 |
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S.Growth Rate |
7.09 |
-2.04 |
-11.62 |
207.03 |
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Current Ratio |
|
.. |
142.33 |
135.20 |
113.59 |
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N.Worth Ratio |
.. |
29.06 |
22.06 |
22.11 |
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R.Profit/Sales |
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7.74 |
7.95 |
3.57 |
3.13 |
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N.Profit/Sales |
4.52 |
4.70 |
1.26 |
1.54 |
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Return On Equity |
.. |
21.52 |
7.35 |
10.78 |
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Notes:
Forecast (or estimated) figures for the 30/09/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
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UK Pound |
1 |
Rs.63.57 |
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Euro |
1 |
Rs.72.97 |
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.