MIRA INFORM REPORT
|
Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRECISION FUKUHARA WORKS LTD |
|
|
|
|
Registered Office : |
7-3-5 Ibukidai-Higashimachi Nishiku Kobe
651-2242 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2011 |
|
|
|
|
Date of Incorporation : |
October 1956 |
|
|
|
|
Com. Reg. No.: |
(Kobe-Nishiku) 002393 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of knitting
machines |
|
|
|
|
No. of Employees
: |
219 Persons |
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 177.1 Million |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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
PRECISION FUKUHARA WORKS LTD
REGD NAME
KK Fukuhara Seiki
Seisakusho
MAIN OFFICE
7-3-5
Ibukidai-Higashimachi Nishiku Kobe 651-2242 JAPAN
Tel:
078-997-9800 Fax: 078-997-6806
URL: http://www.pfw.co.jp
E-Mail address: info@pfw.co.jp
ACTIVITIES
Mfg of
knitting machines
BRANCHES
Osaka
OFFICERS
TOSHIKATSU
HANYU, PRES Hideo Tanaka,
ch
Koji
Fujioka, dir Yoshitaka
Okamoto, dir
Kosaku
Iida, dir Yoshimasa
Arai, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen
3,375 M
PAYMENTS REGULAR CAPITAL Yen 96 M
TREND SLOW WORTH Yen
5,287 M
STARTED 1956 EMPLOYES 219
COMMENT
MFR OF KNITTING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 177.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of mfg division
separated from Fukuhara Industrial & Trading Co Ltd, Osaka (See REGISTRATION). This is a specialized mfr of circular
knitting machines & attachments.
Goods are shipped to the parent for export to Asia, USA and Europe. Overseas sales account for 95% (80% in Asia,
15% in USA/Europe).
FINANCIAL INFORMATION
The sales volume for May/2011 fiscal term amounted to Yen 3,375 million,
a 4% down from Yen 3,526 million in the previous term. Exports were hurt by the high Yen, reducing
earnings & profits in Yen terms. The
operations continued in the red to register Yen 130 million net losses,
compared with Yen 873 million net losses a year ago.
For the current term ending May 2012 the operations are projected to
come back to profitability but still limited to a minimum amount post-taxes, on
a 2% rise in turnover, to Yen 3,450 million.
Strong Yen may erode earnings & profits in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 177.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1956
Regd No.: (Kobe-Nishiku) 002393
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
760,000 shares
Issued:
192,000 shares
Sum: Yen 96 million
Major shareholders (%): Fukuhara Industrial &
Trading Co Ltd* (100)
*.. Importer, exporter
& wholesaler, Osaka, founded 1938, capital Yen 72 million, sales Yen 5,708
million, net profit Yen 72 million, employees 50, pres Satoshi Uemura
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures
circular knitting machines & attachments (--100%).
Clients: [Wholesaler]
Supplied wholly to the parent, Fukuhara Industrial & Trading Co Ltd.
No. of accounts: 1
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsu Seiki Co, Fukuhara Industrial & Trading Co, Glory AZ
System, Panasonic Industry Sales, Yutaka Trading Co, other
Payment record: Regular
Location: Business area in
Kobe. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
·
SMBC (Nishishin-Chuo)
·
MUFG (Kobe)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/05/2012 |
31/05/2011 |
31/05/2010 |
31/05/2009 |
|
|
Annual
Sales |
|
3,450 |
3,375 |
3,526 |
2,586 |
|
Recur.
Profit |
|
|
|
-993 |
-1,308 |
|
Net Profit |
|
0 |
-130 |
-873 |
-1,252 |
|
Total
Assets |
|
|
6,007 |
6,876 |
7,169 |
|
Current
Assets |
|
|
2,776 |
3,074 |
|
|
Current
Liabs |
|
|
662 |
1,342 |
|
|
Net
Worth |
|
|
5,287 |
5,418 |
|
|
Capital,
Paid-Up |
|
|
96 |
96 |
96 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.22 |
-4.28 |
36.35 |
-65.67 |
|
|
Current Ratio |
|
.. |
419.34 |
229.06 |
.. |
|
N.Worth Ratio |
.. |
88.01 |
78.80 |
0.00 |
|
|
R.Profit/Sales |
|
.. |
.. |
-28.16 |
-50.58 |
|
N.Profit/Sales |
0.00 |
-3.85 |
-24.76 |
-48.41 |
|
|
Return On Equity |
.. |
-2.46 |
-16.11 |
.. |
|
Notes:
Forecast (or estimated) figures for the 31/05/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.10 |
|
UK Pound |
1 |
Rs.81.30 |
|
Euro |
1 |
Rs.70.07 |
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.