MIRA INFORM REPORT

 

 

Report Date :

02.09.2011

 

IDENTIFICATION DETAILS

 

Name :

JUKI DENSHI KOGYO CORPORATION

 

 

Registered Office :

70 Ishigami-Nishi Masuda Masudamachi Yokote Akita-Pref 019-0701

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

September 1971

 

 

Com. Reg. No.:

(Akita-Yokorei) 009144

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer  of chip mounter, industrial robot controllers, industrial sewing machines

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 384.9 Million

Status :

Small Company

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 and address

 

JUKI DENSHI KOGYO CORPORATION

REGD NAME:    Juki Denshi Kogyo KK

MAIN OFFICE:  70 Ishigami-Nishi Masuda Masudamachi Yokote Akita-Pref 019-0701 JAPAN

                        Tel: 0182-45-4341      Fax: 0182-45-2016

                                               

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

E-Mail address: info@jdkc.co.jp

 

 

ACTIVITIES  

 

Mfg of chip mounter, industrial robot controllers, industrial sewing machines

 

BRANCHES

 

Tokyo

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

MINORU WADA, PRES                         Kikuo Takahashi, mgn dir

Kiyoshi Izumi, dir                                   Hisatsugu Kuniyasu, dir

Hiroshi Yamanaka, dir               

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 20,606 M

PAYMENTS      REGULAR                     CAPITAL           Yen 300 M

TREND STEADY                       WORTH            Yen 2,444 M

STARTED         1971                             EMPLOYES      436

 

COMMENT    

 

MFG OF INDUSTRIAL SEWING MACHINES, INDUSTRIAL ROBOTS, OTHER.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 384.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

            The subject company was established on the basis of a division separated from Juki Corp (See REGISTRATION).  This is a specialized mfr of chip mounters, industrial sewing machines, industrial robot controllers, other.  Goods are also exported.

 

 

FINANCIAL INFORMATION

 

            Financial are consolidated by the parent, Juki Corp, and only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 20,606 million, a 130% up from Yen 8,949 million in the previous term.  Exports of industrial sewing machines were robust into China and other S/E Asian countries.  The net profit was posted at Yen 79 million, compared with Yen 19 million a year ago.

 

            For the current term ending Mar 2012 the net profit is projected at Yen 85 million, on a 7% rise in turnover, to Yen 22,000 million.  Business is steadily expanding.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 384.9 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Sept 1971

Regd No.:         (Akita-Yokorei) 009144

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2.4 million shares

Issued:                600,000 shares

Sum:                   Yen 300 million

Major shareholders (%): Juki Corp* (100)

 

*.. Largest producer of industrial sewing machines, Tokyo, founded 1938, listed Tokyo

S/E, capital Yen 15,950 million, sales Yen 85,596 million, operating profit Yen 1,144 million, recurring profit Yen 1,174 million, net profit Yen 2,467 million, total assets Yen 106,593 million, net worth Yen 2,467 million, employees 6,613, pres Akira Kiyoharau

Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

OPERATION

           

Activities: Manufactures industrial sewing machines, industrial robot controllers, chip mounters, other attachments (--100%)

 

Clients: [Mfrs, wholesalers] Juki Corp, Furukawa Electric Ind, Topcon Corp, Daihen Osaka Japan, other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Juki Corp, Nippon Thompson KK, Ryoden Shoji Trading, other

 

Payment record: Regular

 

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

 

Bank References:

            Hokuto Bank (Masuda)

            Akita Bank (Masuda)

            Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

22,000

20,606

8,949

15,118

Recur. Profit

　

　

　

　

　

Net Profit

　

85

79

19

171

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

2,444

2,365

2,346

Capital, Paid-Up

　

　

300

300

300

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.77

130.26

-40.81

-41.62

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.39

0.38

0.21

1.13

Notes: Financials are only partially disclosed.

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

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, JUKI CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2011

31/03/2010

INCOME STATEMENT

 

 

 

  Annual Sales

　

89,596

56,970

 

  Cost of Sales

68,030

47,140

 

      GROSS PROFIT

21,565

9,829

 

  Selling & Adm Costs

20,420

21,017

 

      OPERATING PROFIT

1,144

-11,187

 

  Non-Operating P/L

30

-5

 

      RECURRING PROFIT

1,174

-11,192

　

      NET PROFIT

2,467

-11,233

BALANCE SHEET

 

 

 

 

  Cash

　

7,178

8,348

 

  Receivables

 

17,357

13,153

 

  Inventory

 

36,239

29,296

 

  Securities, Marketable

　

6

 

  Other Current Assets

2,990

5,088

 

      TOTAL CURRENT ASSETS

63,764

55,891

 

  Property & Equipment

30,714

32,911

 

  Intangibles

 

1,855

2,302

 

  Investments, Other Fixed Assets

10,260

9,977

 

      TOTAL ASSETS

106,593

101,081

 

  Payables

 

14,836

11,003

 

  Short-Term Bank Loans

42,643

42,197

 

　

 

　

　

 

  Other Current Liabs

8,638

6,937

 

      TOTAL CURRENT LIABS

66,117

60,137

 

  Debentures

 

80

120

 

  Long-Term Bank Loans

19,958

21,915

 

  Reserve for Retirement Allw

6,336

6,541

 

  Other Debts

　

2,552

1,682

 

      TOTAL LIABILITIES

95,043

90,395

 

      MINORITY INTERESTS

 

 

 

Common stock

15,950

15,950

 

Additional paid-in capital

　

8,976

 

Retained earnings

2,604

(8,839)

 

Evaluation p/l on investments/securities

74

16

 

Others

 

(7,021)

(5,360)

 

Treasury stock, at cost

(58)

(57)

 

      TOTAL S/HOLDERS` EQUITY

11,549

10,686

　

      TOTAL EQUITIES

106,593

101,081

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2011

31/03/2010

 

Cash Flows from Operating Activities

　

-613

1,224

 

Cash Flows from Investment Activities

-119

-10,440

 

Cash Flows from Financing Activities

7

8,574

　

Cash, Bank Deposits at the Term End

　

7,077

8,291

ANALYTICAL RATIOS            Terms ending:

31/03/2011

31/03/2010

 

 

Net Worth (S/Holders' Equity)

11,549

10,686

 

 

Current Ratio (%)

96.44

92.94

 

 

Net Worth Ratio (%)

10.83

10.57

 

 

Recurring Profit Ratio (%)

1.31

-19.65

 

 

Net Profit Ratio (%)

2.75

-19.72

 

 

Return On Equity (%)

21.36

-105.12

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.01

UK Pound

1

Rs.75.42

Euro

1

Rs.66.69

 

 

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.