MIRA INFORM REPORT

 

 

Report Date :           

27.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KIJI REED CO LTD

 

 

Registered Office :

3-21 Asahigaoka Hakusan Ishikawa-Pref 924-0024

 

 

Country :

Japan

 

 

Financials (as on) :

30.11.2010

 

 

Date of Incorporation :

July 1948  

 

 

Com. Reg. No.:

(Ishikawa-Hakusan) 007076

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of textile machinery parts & components

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 19.2 Million

Status :

Small Company 

Payment Behaviour :

Regular

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)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

KIJI REED CO LTD

 

 

REGD NAME

 

KK Kiji Reed

 

 

MAIN OFFICE

 

3-21 Asahigaoka Hakusan Ishikawa-Pref 924-0024

Tel: 076-275-6656     Fax: 076-275-2268

                                               

URL:                             http://www.kiji.co.jp

E-Mail address:                        ktsuda@kiji.co.jp

 

 

ACTIVITIES

 

Mfg of textile machinery parts & components

 

 

BRANCHES   

 

Nil

 

 

FACTORIES  

 

At the caption address

 

 

OFFICERS

 

TSUYOSHI TSUDA, PRES                    

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 1,000 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 82 M

TREND             SLOW                          WORTH            Yen 826 M

STARTED                     1948                             EMPLOYES      46

 

 

COMMENT

 

MFR OF TEXTILE MACHINERY PARTS & COMPONENTS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 19.2 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Jisaburo Kiji in order to make most of his experience in the subject line of business.  This is a specialized mfr of textile machinery parts & components.  Goods are exported mainly to China.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed.

           

The sales volume for Nov/2010 fiscal term amounted to Yen 1,000 million, a 46% up from Yen 685 million in the previous term.  Exports revived into China and other S/E Asian counties.  The operations came back to profitability but limited to a minimum amount post-taxes, compared with Yen 132 million net losses a year ago.

 

For the current term ending Nov 2011 the net profit is projected at Yen 35 million, on a 35% rise in turnover, to Yen 1,100 million. 

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 19.2 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  July 1948

Regd No.:           (Ishikawa-Hakusan) 007076

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         650,000 shares

Issued:                164,800 shares

Sum:                   Yen 82.4 million

Major shareholders (%): Tsuyoshi Hirota & families (--100)

 

No. of shareholders: 5

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures textile machinery parts & components (--100%)

 

Clients: [Mfrs, wholesalers] SKR, Miyakome Orimono, Tsudakoma Ind, Kiji Haruyama Reed, other

            No. of accounts: 300

            Domestic areas of activities: Centered in Ishikawa-Pref and vicinities

 

Suppliers: [Mfrs, wholesalers] Kiji Haruyama Reed, Uno Reed, Toyotsu Tekko Hambai, Hanna Kagaku, other.

 

Payment record: Regular

Location: Business area in Hakusan City, Ishikawa-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Kanazawa Shinkin Bank (H/O)

Hokuriku Bank (Kanazawa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

30/11/2011

30/11/2010

30/11/2009

30/11/2008

Annual Sales

　

1,100

1,000

685

1,300

Recur. Profit

　

　

　

　

　

Net Profit

　

35

0

-132

-100

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

826

826

958

Capital, Paid-Up

　

　

82

82

82

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

10.00

45.99

-47.31

-20.39

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

3.18

0.00

-19.27

-7.69

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/11/2011 fiscal term.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.