MIRA INFORM REPORT
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Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
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Name : |
POWREX CORPORATION |
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Registered Office : |
8-121-1 Kitaitami Itami Hyogo-Pref
664-0831 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
January 1955 |
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Com. Reg. No.: |
(Hyogo-Itami) 002627 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of powder processing systems |
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 87.1 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
POWREX CORPORATION
REGD NAME
KK Powrex
MAIN OFFICE
8-121-1 Kitaitami
Itami Hyogo-Pref 664-0831 JAPAN
Tel:
072-778-7303 Fax: 072-778-7313
E-Mail address: info@powrex.co.jp
ACTIVITIES
Mfg of
powder processing systems
BRANCHES
Tokyo
FACTORIES
At the
caption address, Saitama
OFFICERS
TAKESHI
TAKASHIMA, PRES Susumu
Kayama, s/mgn dir
Akihiko
Inaoka, mgn dir Fujio
Isemoto, mgn dir
Yazu
Matsuura, dir Tsutomu
Honda, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,709 M
PAYMENTS REGULAR CAPITAL Yen 75 M
TREND STEADY WORTH Yen
904 M
STARTED 1955 EMPLOYES 110
COMMENT
MFR OF POWDER PROCESSING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 87.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Tomotake Takashima in order to
make most of his experience in the subject line of business. This is a specialized mfr of powder processing
equipment for pharmaceutical, food, electronics parts, chemical
industries. Goods are mfr’d at its own
yard on business/technical tie-ups with overseas makers (See OPERATION). Acts as their agent, too. Domestic clients include major pharmaceutical,
chemical, food processors, cosmetics, other industries.
FINANCIAL INFORMATION
The sales volume for Sept/2010/2010 fiscal term amounted to Yen 5,709
million, a 5% up from Yen 5,432 million in the previous term. Demand rose after the global economic
downturn, particularly from pharmaceutical and food industries. The recurring profit was posted at Yen 151
million and the net profit at Yen 92 million, respectively, compared with Yen
274 million recurring profit and Yen 56 million net profit, respectively, a
year ago.
For the term that just ended Sept 2011 the recurring profit was
projected at Yen 160 million and the net profit at Yen 100 million,
respectively, on a 5% rise in turnover, to Yen 6,000 million. Business is seen expanding steadily. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 87.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1955
Regd No.: (Hyogo-Itami) 002627
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
600,000 shares
Issued:
150,100 shares
Sum: Yen 75.05 million
Major shareholders (%): Takeshi Takashima (37), Masako Enomoto
(17), Employees’ S/Holding Assn (15), Heiji Enomoto (3)
No. of shareholders: 50
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
powder processing equipment, attachment, accessories, other, bound for
pharmaceutical, food, electronics parts, chemical, other industries (--100%)
(Overseas business
partners): Maschinpex Maschinenbau GmbH, DRIAM Anlagenbau GmbH (--Germany), Glatt
AG (Switz), DCE Donaldson Limited (UK), QUADRO Engineering Inc (Canada), Glatt
Air Techniques Inc (USA)
Clients: [Mfrs,
wholesalers] Takeda Pharmaceutical Co, Taisho Pharmaceutical Co, Mitsubishi
Tanabe Pharma Corp, Daiichi Sankyo Co, Astellas Pharma Inc, Chugai
Pharmaceutical Co, Dainippon Sumitomo Pharma Co, Shionogi & Co, Sawai
Pharmaceutical Co, Towa Pharmaceutical Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nihon Teppan Co, Inoue Tekkosho, Tokyo Stainless Ind, Daikin
Applied Systems, Koyo Electric Co, Kongo Koki Co, other
Payment record: Regular
Location: Business area in
Itami City, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Semba)
SMBC
(Midosuji)
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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6,000 |
5,709 |
5,432 |
5,105 |
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Recur.
Profit |
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160 |
151 |
274 |
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Net
Profit |
|
100 |
92 |
157 |
112 |
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Total
Assets |
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3,922 |
4,099 |
4,149 |
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Current
Assets |
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3,325 |
3,504 |
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Current
Liabs |
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2,851 |
2,989 |
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Net
Worth |
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904 |
826 |
679 |
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Capital,
Paid-Up |
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75 |
75 |
75 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.10 |
5.10 |
6.41 |
1.09 |
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Current Ratio |
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.. |
116.63 |
117.23 |
.. |
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N.Worth Ratio |
.. |
23.05 |
20.15 |
16.37 |
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R.Profit/Sales |
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2.67 |
2.64 |
5.04 |
.. |
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N.Profit/Sales |
1.67 |
1.61 |
2.89 |
2.19 |
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Return On Equity |
.. |
10.18 |
19.01 |
16.49 |
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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.49.08 |
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UK Pound |
1 |
Rs.78.78 |
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Euro |
1 |
Rs.67.76 |
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.