MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

NITTOH KOGAKU KK

 

 

Registered Office :

4529 Konami Suwa City Nagano-Pref 392-3131

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

October 1951

 

 

Com. Reg. No.:

(Nagano-Suwa) 022047

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of optical lenses

 

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 610.4 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 30th, 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

 

NITTOH KOGAKU KK

 

 

REGD NAME

 

Nittoh Kogaku KK

 

 

MAIN OFFICE

 

4529 Konami Suwa City Nagano-Pref 392-3131 JAPAN

Tel: 0266-57-4801      Fax: 0266-57-5030

 

*.. The given address is its Kami-Suwa Factory

                                               

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

E-Mail address:                        takumi.ishifo@nittohkogaku.co.jp

 

 

ACTIVITIES

 

Mfg of optical lenses

 

 

BRANCHES

 

Tokyo

 

 

OVERSEAS

 

Indonesia

 

 

FACTORIES

 

At the caption address, Kami-Suwa (as given)

 

OVERSEAS

 

Indonesia, China

 

 

OFFICERS

 

MUTSUOMI KANEKO, PRES     Yoshinobu Asakura, dir

Sueo Tojo, dir                            Kazuo Miyasaka, dir                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 12,733 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 80 M

TREND             SLOW                          WORTH            Yen 6,772 M

STARTED                     1951                             EMPLOYES      370

 

 

COMMENT    

 

MFR OF OPTICAL LENSES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 610.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by father of Mutsuomi Kaneko in order to make most of his experience in the subject line of business.  This is a specialized mfr of optical lenses, molds for plastic lenses, other.  Has mfg factories in China and Indonesia.  Clients include major electronics makers nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 12,733 million, a 22% down from Yen 16,345 million in the previous term.  Consumer spending was sluggish, as lingered from the global economic downturn, particularly in the first half of the term.  The recurring profit was posted at Yen 661 million and the net profit at Yen 373 million, respectively, compared with Yen 1,297 million recurring profit and Yen 506 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 670 million and the net profit at Yen 380 million, respectively, on a 6% rise in turnover, to Yen 13,500 million.  Production in China and Indonesia is increasing for export to S/E Asian countries.  Demand revived.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 610.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1951

Regd No.:         (Nagano-Suwa) 022047

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         640,000 shares

Issued:              160,000 shares

Sum:                   Yen 80 million

 

Major shareholders (%): Mutsuomi Kaneko (95)

 

No. of shareholders: 7

 

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

 

 

OPERATION

           

Activities: Manufactures optical goods: lens modules for DSCs (digital still cameras), lens for projectors, optical elements, molds for plastic lenses, other (--100%)

 

Clients: [Mfrs, wholesalers] Altech Co, Oita Canon Inc, Tochigi Canon Inc, Flextronics Int’l, Sigma Corp, Sanyo Electric Co, Olympus Corp, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sintai Optical (Shenzhen) Co, Phenix Co, Canon Electronics Inc, Nidec Copal Corp, Ohara Inc, other

 

Payment record: Regular

 

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

 

Bank References:

·         Hachijuni Bank (Suwa)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

13,500

12,733

16,345

26,983

Recur. Profit

　

670

661

1,297

　

Net Profit

　

380

373

506

748

Total Assets

　

　

10,990

10,571

10,454

Current Assets

　

　

5,433

4,844

　

Current Liabs

　

　

3,918

3,832

　

Net Worth

　

　

6,772

6,438

5,971

Capital, Paid-Up

　

　

80

80

80

Div.P.Share(¥)

　

　

2.00

2.00

2.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.02

-22.10

-39.42

21.10

    Current Ratio

 

..

138.67

126.41

..

    N.Worth Ratio

..

61.62

60.90

57.12

    R.Profit/Sales

 

4.96

5.19

7.94

..

    N.Profit/Sales

2.81

2.93

3.10

2.77

    Return On Equity

..

5.51

7.86

12.53

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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