MIRA INFORM REPORT
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Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KOA REFRACTORIES CO LTD |
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Registered Office : |
3904-7 Honami Bizen Okayama-Pref 705-0033 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 1987 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of refractory
materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 223.9 Million |
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Status : |
Satisfactory |
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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) |
|
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 |
Companu
name
KOA REFRACTORIES CO LTD
REGD NAME
Koa Taika Kogyo KK
MAIN OFFICE
3904-7 Honami
Bizen Okayama-Pref 705-0033 JAPAN
Tel:
0869-67-0231 Fax: 0869-67-3312
*.. The given address is its Tokyo Branch
at: Uchida Bldg 4F, 1-8 Nihombashi-Hakozakicho Chuoku Tokyo 103-0015, as given.
URL: http://www.optic.or.jp/koua/koua.html
E-Mail address: okayama@koa-ref.co.jp
ACTIVITIES
Mfg of
refractory materials
BRANCHES
Tokyo
(as given)
FACTORIE
At the
caption address
OFFICERS
MINORU
OHI, PRES Tsutomu
Watanabe, s/mgn dir
Toshio
Korenobu, dir Manabu
Kanai, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,802 M
PAYMENTS REGULAR CAPITAL Yen 92 M
TREND SLOW WORTH Yen 3,088 M
STARTED 1948 EMPLOYES 64
COMMENT
MFR SPECIALIZING IN FIREPROOFING PRODUCTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 223.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Masahiro Takada in order to make most
of his experience in manufacturing silica bricks originally and has since
expanded its handling items to cover a wide range of fire-proofing products and
materials. Major products are fireproof
products for electric & steel mfg furnaces, including magnesia carbon
bricks, base bricks, high alumina bricks, special clay bricks, etc. The factory is equipped with high-pressure
mold oil press for mfg. Clients include
steel makers, metal ind, other
fINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 6,802 million,
a 5% down from Yen 7,122 million in the previous term. The recurring profit was posted at Yen 498
million and the net profit at Yen 237 million, respectively, compared with Yen
722 million recurring profit and Yen 346 million net profit, respectively, a
year ago.
For the term that ended Mar 2011 the recurring profit was projected at
Yen 500 million and the net profit at Yen 240 million, respectively, on a 3%
rise in turnover, to Yen 7,000 million.
Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 223.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 739,000 shares
Issued: 184.800 shares
Sum: Yen 92.4 million
Major shareholders (%): Shigeo Okusawa, Minoru O’I,
Tsutomu Watanabe, Manabu Kanai, Hiroyoshi Iwaya, other (Breakdown unavailable)
No. of
shareholders: 85
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
fireproofing products & materials for electric furnaces & steel mfg furnaces, such as pre-cast blocks for
roof, wall bricks, ramming materials for bottom, pre-cast tapping sprout,
bottom electrode, gunning materials, etc; refractories for special refining ladle, such as various bricks,
ramming materials, other; magnesia carbon bricks, base bricks, high alumina
bricks, special clay bricks, etc (--100%).
Clients: [Steel mfrs,
other mfrs] Daido Special Metal (8%), Hitachi Metal (8%), Steel Co (8%), Tokyo
Godo Steel (4%), Topy Ind (4%), other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Sojitz Corp (5%), Fuji Kozai (2%), Ohara & Co (2%), Sumitomo Corp, Tanisho
Co, other.
Payment record: Regular
Location: Light industrial
area in Bizen City, Okayama-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Chugoku
Bank (Katagami)
Shoko
Chukin Bank (Okayama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual Sales |
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7,000 |
6,802 |
7,122 |
6,473 |
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Recur. Profit |
|
500 |
498 |
722 |
722 |
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Net Profit |
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240 |
237 |
346 |
138 |
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Total Assets |
|
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6,503 |
5,914 |
4,988 |
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Current Assets |
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5,613 |
4,978 |
3,709 |
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Current Liabs |
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3,006 |
2,605 |
1,738 |
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Net Worth |
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3,088 |
2,859 |
2,522 |
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Capital, Paid-Up |
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|
92 |
92 |
92 |
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Div.P.Share(¥) |
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8.00 |
8.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.91 |
-4.49 |
10.03 |
13.22 |
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Current
Ratio |
|
.. |
186.73 |
191.09 |
213.41 |
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N.Worth
Ratio |
.. |
47.49 |
48.34 |
50.56 |
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R.Profit/Sales |
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7.14 |
7.32 |
10.14 |
11.15 |
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N.Profit/Sales |
3.43 |
3.48 |
4.86 |
2.13 |
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Return
On Equity |
.. |
7.67 |
12.10 |
5.47 |
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Note:
Forecast (or estimated) for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
|
UK Pound |
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.64.40 |
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.