MIRA INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
MIKAWAYA LUMBER CO LTD |
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Registered Office : |
202 Kamimanno Iwata Shizuoka-Pref 438-0817
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
January 1974 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of lumber |
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 39.9 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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
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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
MIKAWAYA LUMBER CO LTD
REGD NAME
Mikawaya Mokuzai
KK
MAIN OFFICE
202 Kamimanno
Iwata Shizuoka-Pref 438-0817 JAPAN
Tel:
0538-34-5528 Fax: 0538-34-5527
URL: www.mikawayalumber.com (now under reconstruction)
E-mail: info@mikawayalumber.com
ACTIVITIES
Import,
wholesale of lumber
BRANCHES
Setouchi
FACTORIES
(subcontracted)
OFFICER(S)
Hiroaki
Fujiwara, ch
KOJI FUJIWARA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,213 M
PAYMENTS REGULAR CAPITAL Yen
40 M
TREND SLOW WORTH Yen
276 M
STARTED 1974 EMPLOYES 8
COMMENT
TRADING
FIRM SPECIALIZING IN LUMBER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 39.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Hiroaki Fujiwara (now ch at the
firm) in order to make most of his experience in the subject line of
business. Koji is his son. This is a trading firm, wholly owned and
operated by the Fujiwara family, specializing in import and wholesale of logs,
lumber, sawn timber, housing members, other.
Goods are imported from USA, Canada, S/E Asia, other. Goods are wholly supplied to Nice Corp, importer
& wholesaler of housing materials, Yokohama.
FINANCIAL INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Dec/2010 fiscal term amounted to Yen 2,213 million,
a 2% down from Yen 2,164 million in the previous term. Housing industry was slow to recover. Newbuilding orders were still limited. Condo market was weak. The operations plunged into the red to
register Yen 34 million net losses for the term, compared with Yen 16 million
net profit a year ago. High Yen ate into
profits in Yen terms. .
For the current term ending Dec 2011 the operations are projected to
come back profitability to post Yen 15 million net profit, on a 3% rise in
turnover, to Yen 2,280 million. The
condo markets revived. Sales of housing
materials have also revived.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 39.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1974
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 320,000
shares
Issued: 80,000
shares
Sum: Yen 40 million
Major shareholders (%):
Hiroaki Fujiwara (24), Koji Fujiwara (24) and families
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales logs, lumber, sawn timber, housing members & materials, other
(--100%)
Clients: [Lumber dealer]
Supplied wholly to Nice Corp
No. of accounts: 1
Domestic areas of
activities: Centered in Shizuoka-Pref
Suppliers: [Mfrs,
wholesalers] Vanport International, Abex International, KP Wood, Innsyo Ringyo,
Kuma-Kouiki Shinrin Kumiai, Itoh Seizaisho, Mochinaga Mokuzai, Emori & Co,
Nice Corp, other.
Payment record: Regular
Location: Business area in
Iwata City, Shizuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
· MUFG (Hamamatsu)
· Mizuho Bank (Hamamatsu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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2,280 |
2,213 |
2,164 |
2,273 |
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Recur.
Profit |
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Net
Profit |
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15 |
-34 |
16 |
32 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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276 |
310 |
294 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.03 |
2.26 |
-4.80 |
4.27 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.66 |
-1.54 |
0.74 |
1.41 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.78 |
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UK Pound |
1 |
Rs.80.11 |
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Euro |
1 |
Rs.68.82 |
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.