MIRA
INFORM REPORT
|
Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
O-WELL CORPORATION |
|
|
|
|
Registered Office : |
5-13-9 Mitejima Nishiyodogawaku Osaka 555-0012 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
November 1943 |
|
|
|
|
Com. Reg. No.: |
(Osaka-Nishiyodogawaku) 049291 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, export, wholesale of paints & coatings, chemicals, electronics |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 908.3 Million |
|
Status : |
Satisfactory |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 and address
O-WELL CORPORATION
REGD NAME: O-Well
KK
MAIN OFFICE: 5-13-9
Mitejima Nishiyodogawaku Osaka 555-0012 JAPAN
Tel: 06-6473-0138 Fax: 06-6476-2200
*.. The given address is
its Kudamatsu branch Office in Yamaguchi-Pref
E-Mail address: (thru the URL)
ACTIVITIES
Import, export,
wholesale of paints & coatings, chemicals, electronics
BRANCHES
Tokyo, Osaka,
Nagoya, Sendai, Fukushima, other (Tot 38)
OVERSEAS
Vietnam, Korea,
China (2)
FACTORIES
(subcontracted)
OFFICERS
FUMIYOSHI
MIYAMOTO, PRES Katsuji Tobito, s/mgn dir
Shigenobu Yabuno,
mgn dir Shin’ya Tanaka,
dir
Yasuo Kawano, dir Makoto Tega,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 48,194 M
PAYMENTS REGULAR CAPITAL Yen 784 M
TREND SLOW WORTH Yen
6,363 M
STARTED 1943 EMPLOYES 452
COMMENT
TRADING FIRM SPECIALIZING IN PAINTS & COATINGS, CHEMICALS,
ELECTRONICS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 908.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
by father of Fumiyoshi Miyamoto in order to make most of his experience in the
subject line of business. This is a
trading firm specializing for import, export and wholesale of paints &
coatings, chemicals, electronics products, other. Operates 4 overseas offices: China (2), Korea
and Vietnam. Goods are exported to
China, Thailand, Korea, India, other S/E Asian markets. Local clients include major car makers,
electronics makers, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 48,194 million, a 5% up from Yen 45,815 million in the
previous term. This is attributed to the
robust exports into China, Vietnam, India, Korea, other S/E Asian countries. The recurring profit was posted at Yen 490
million and the net profit at Yen 321 million, respectively, compared with Yen
175 million recurring profit and Yen 86 million net profit, respectively, a
year ago.
For the current term ending Mar 2012
the recurring profit is projected at Yen 330 million and the net profit at Yen
330 million, respectively, on a 6% rise in turnover, to Yen 51,000
million. Exports continue rising
steadily. High Yen may eat into profits
in yen terms.
The financial situation is considered FAIR
and good for ORDINARY business engagements. Max credit limit is estimated at Yen 908.3
million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov
1943
Regd No.:
(Osaka-Nishiyodogawaku) 049291
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 40 million shares
Issued: 10.5 million shares
Sum: Yen 857 million
Major
shareholders (%): Employees’ S/Holding Assn (15.5), Nippon Paint (9.3), Kansai Paint
(7.2), Dai Nippon Toryo Co (5.7), MUFG (4.3)
No. of shareholders: 194
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: A trading firm
for import, export and wholesale of paints & coatings, chemicals,
electronics products, other:
(Sales
Breakdown by Divisions):
Paints
& Coatings Div (59%): paints & coatings, coating equipment &
materials, surface treatment agents, other;
Chemicals
Div (19%): adhesives, sealants, tapes, films, resins, filters, heat resistant
materials, other;
Electronics
Div (16%): Hall IC, microcontroller, motor driver, magnetic circuit, other
semiconductor-related materials;
Others
(6%).
Clients: [Mfrs,
wholesalers] Denso Corp, Nissan Motors, Fuji Heavy Ind, LIXIL, Mitsubishi
Motors, Panasonic Corp, Nippon Steel & Sumikin Coating Steel Corp, Yutaka
Giken, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Nippon Paint Co, Kansai Paint Co, Sumitomo 3M, Dai Nippon Toryo
Co, Nippon Fine Coatings, Micronas, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Semba-Chuo)
SMBC (Midosuji)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
51,000 |
48,194 |
45,815 |
55,587 |
|
Recur.
Profit |
|
500 |
490 |
175 |
653 |
|
Net
Profit |
|
330 |
321 |
86 |
285 |
|
Total
Assets |
|
|
26,434 |
26,979 |
27,934 |
|
Current
Assets |
|
|
19,247 |
19,567 |
|
|
Current
Liabs |
|
|
17,137 |
16,925 |
|
|
Net
Worth |
|
|
6,363 |
6,182 |
5,743 |
|
Capital,
Paid-Up |
|
|
857 |
857 |
857 |
|
Div.P.Share(¥) |
|
|
6.00 |
6.00 |
6.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.82 |
5.19 |
-17.58 |
-12.23 |
|
|
Current Ratio |
|
.. |
112.31 |
115.61 |
.. |
|
N.Worth Ratio |
.. |
24.07 |
22.91 |
20.56 |
|
|
R.Profit/Sales |
|
0.98 |
1.02 |
0.38 |
1.17 |
|
N.Profit/Sales |
0.65 |
0.67 |
0.19 |
0.51 |
|
|
Return On Equity |
.. |
5.04 |
1.39 |
4.96 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.78 |
|
|
1 |
Rs.80.10 |
|
Euro |
1 |
Rs.68.82 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.