MIRA INFORM REPORT

 

 

Report Date :           

08.10.2011

 

IDENTIFICATION DETAILS

 

Name :

KAMOME PROPELLER CO LTD

 

 

Registered Office :

690 Kamiyabecho Totsukaku Yokohama 245-0053

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

March 1943

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of ship propellers, control systems

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

KAMOME PROPELLER CO LTD

 

 

REGD NAME 

 

Kamome Propeller KK

 

 

MAIN OFFICE

 

690 Kamiyabecho Totsukaku Yokohama 245-0053 JAPAN

Tel: 045-811-2461      Fax: 045-811-9444

                                               

URL:                             http://www.kmome-propellerc.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of ship propellers, control systems, other

 

 

BRANCHES   

 

Osaka, Fukuoka, Ishinomaki

 

 

FACTORIES  

 

At the caption address

 

 

OFFICERS

 

HIROSHI ITAZAWA, PRES                     Toshio Itazawa, ch

Tsuneharu Aiuchi, s/mgn dir                    Kiyoshi Ishino, mgn dir

Kunihiko Fukuyo, dir                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 5,856 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 100 M

TREND             SLOW                          WORTH            Yen 2,501 M

STARTED                     1943                             EMPLOYES      158

 

 

COMMENT    

 

MFR OF SHIP’S PROPELLERS AND ATTACHMENTS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established by father of Toshio Itazawa for mfg ship’s propellers, on his account.  Incorporated in 1943 the firm has been succeeded by his descendants.  This is a specialized mfr of propellers, control systems & power saving equipment for ships, offering repairing and maintenance services for these products delivered.  Clients are major ship builders nationwide.  Products are also exported.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 5,856 million, a 9% down from Yen 6,460 million in the previous term, affected by the global economic downturn.  New ship construction rapidly declined with slow shipping demand.  The recurring profit was posted at Yen 491 million and the net profit at Yen 294 million, respectively, compared with Yen 605 million recurring profit and Yen 358 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 500 million and the net profit at Yen 300 million, respectively, on a 6% rise in turnover, to Yen 6,200 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Mar 1943

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800,000 shares

Issued:                200,000 shares

Sum:                   Yen 100 million

Major shareholders (%): Hiroshi Itazawa (30), Employees’ S/Holding Assn (24), Toshio Itazawa (20)

No. of shareholders: 14

 

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

 

 

OPERATION

           

Activities: Manufactures propellers, control systems & power saving equipment for ships, offering repairing & maintenance services (--100%).

 

(Mfg Items): Propellers, flap rudders, shafting arrangement, side thrusters, control systems, other

 

Clients: [Ship builders] Universal Shipbuilding Corp, Mitsubishi Heavy Ind, Niigata Shipbuilding & Repair Inc, Niigata Power Systems, Akasaka Diesels Co, Kawasaki Heavy Ind, Mitsui Engineering & Shipbuilding Ind, Yanmar Co, Kanax Corp, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sojitz Marine & Engineering Corp, Sojitz Kyushu, Kurotani Corp, Ishikawa Metal Finishing Co, Morita Electric Ind, Tokyo Keiki Inc, Isuzu Marine Engine Inc, other

 

Payment record: Regular

 

Location: Business area in Yokohama.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         Mizuho Bank (Totsuka)

·         SMBC (Totsuka)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

6,200

5,856

6,460

7,729

Recur. Profit

　

500

491

605

　

Net Profit

　

300

294

358

271

Total Assets

　

　

7,999

8,336

　

Current Assets

　

　

5,227

5,422

　

Current Liabs

　

　

2,569

2,851

　

Net Worth

　

　

2,501

2,224

1,974

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.87

-9.35

-16.42

12.95

    Current Ratio

 

..

203.46

190.18

..

    N.Worth Ratio

..

31.27

26.68

..

    R.Profit/Sales

 

8.06

8.38

9.37

..

    N.Profit/Sales

4.84

5.02

5.54

3.51

    Return On Equity

..

11.76

16.10

13.73

 

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.