MIRA INFORM REPORT
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Report Date : |
04.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KENSETSU RUBBER CO LTD |
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Registered Office : |
4-18-4 Ayuchi-dori Showaku Nagoya 466-0027 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
June 1958 |
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Com. Reg. No.: |
(Nagoya-Showaku) 008226 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale
of industrial rubber/plastic parts & components |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 458.2 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
KENSETSU RUBBER CO
LTD
REGD NAME
Kensetsu Gomu KK
MAIN OFFICE
4-18-4 Ayuchi-dori
Showaku Nagoya 466-0027JAPAN
Tel:
052-851-7211 Fax: 052-851-7219
URL: www.kengomu.co.jp
E-mail: info@kengomu.co.jp
ACTIVITIES
Import,
wholesale of industrial rubber/plastic parts & components
BRANCHES
Aichi
(3), Shiga, Yokohama, Saga, Oita
OVERSEAS
Thailand,
Shanghai, Hong Kong
FACTORIES
China
(3), Thailand, Hong Kong (--subcontracted)
OFFICER(S)
Akemi
Inaki, ch SANSHIRO
INAKI, PRES
Takashi Asahina, s/mgn dir Koichi Ishida, mgn dir
Yoshihisa Yamada, dir Hiroshi Inaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 17,127 M
PAYMENTS REGULAR CAPITAL Yen 40 M
TREND SLOW WORTH Yen 4,399 M
STARTED 1958 EMPLOYES 192
COMMENT
WHOLESALER
OF INDUSTRIAL RUBBER/PLASTIC PARTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 458.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of adhesive mfg
division separated from Gomuno Inaki Co Ltd, mfg of industrial rubber, Nagoya
(See REGISTRATION). This is a trading company, with mfg division,
for import, export and wholesale of industrial rubber/plastic parts &
components principally for industries: automobile, OA equipment and home
electric appliance mfrs. Products are
subcontracted mfg to three overseas mfrs: Shanghai, Hong Kong &
Thailand. Major clients include Toyota
Motor group car interior parts makers.
FINANCIAL INFORMATION
The sales volume for Apr/2011 fiscal term amounted to Yen 17,127
million, a 10% down from Yen 19,036 million in the previous term. The North Japan Earthquake & Tsunami that
hit the northern Japan in Mar 2011 affected the sales, particularly the auto
industries, the firm’s mainstay client, were hit hard by supply shortage or
derailed supply, and other negative factors that led Toyota to decrease
production. The recurring profit was
posted at Yen 376 million and the net profit at Yen 220 million, respectively,
compared with Yen 478 million recurring profit and Yen 283 million net profit,
respectively, a year ago.
For the current term ending Apr 2012 the recurring profit is projected
at Yen 400 million and the net profit at Yen 240 million, respectively, on a 5%
rise in turnover, to Yen 18,000 million.
Toyota Motor resumed production to normal level from Jun 2011.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 458.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jun 1958
Regd No.: (Nagoya-Showaku) 008226
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 3.2
million shares
Issued: 800,000 shares
Sum: Yen 40 million
Major shareholders (%): Gomu No Inaki* (3), Sanshiro
Inaki (2.9), Daiichi Shokusan** (0.4)
* Holding company
& mfr of industrial rubber, Nagoya, founded 1946, capital Yen 90 million, sales
Yen 38,405 million, net profit Yen 552 million, employees 371, pres Hiroshi
Inaki
No. of shareholders: 63
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales
industrial rubber/plastic parts & components for car industry (for seat,
doors, other car interior parts), for OA equipment makers and home electric
appliance makers (--100%).
Products are subcontracted mfg to three overseas makers: Shanghai,
Thailand & Hong Kong.
Clients: [Mfrs, wholesalers]
Toyota Boshoku (25%), Toyota Boshoku Kyushu, T Estec, Ricoh Elemex, Takehiro
Kyushu, Howa Textile Ind, NHK Spring, Toyota Auto Body, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Yamaso, Misugi Kogyo, Meihoku Gomu, Sanwa Light Kogyosho, Marubeni
Techno Rubber, Katsuzai Chemicals Corp, Kowa Kasei, Gotoh & Co, Fujiwara
Sangyo, Meihoku Rubber, other.
Payment record:
Regular
Location:
Business area in Nagoya. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Nagoya-Chuo)
MUFG
(Kami-Maezu)
Relations:
Satisfactory
FINANCES
(in Million Yen)
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Terms Ending: |
30/04/2012 |
30/04/2011 |
30/04/2010 |
30/04/2009 |
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Annual
Sales |
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18,000 |
17,127 |
19,036 |
21,453 |
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Recur.
Profit |
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400 |
376 |
478 |
357 |
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Net
Profit |
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240 |
220 |
283 |
220 |
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Total
Assets |
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11,110 |
12,918 |
12,058 |
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Current
Assets |
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5,647 |
7,356 |
6,195 |
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Current
Liabs |
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4,855 |
6,997 |
6,841 |
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Net
Worth |
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4,399 |
4,199 |
3,935 |
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Capital,
Paid-Up |
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40 |
40 |
40 |
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Div.P.Share(¥) |
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250.00 |
250.00 |
250.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.10 |
-10.03 |
-11.27 |
-23.52 |
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Current Ratio |
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.. |
116.31 |
105.13 |
90.56 |
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N.Worth Ratio |
.. |
39.59 |
32.51 |
32.63 |
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R.Profit/Sales |
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2.22 |
2.20 |
2.51 |
1.66 |
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N.Profit/Sales |
1.33 |
1.28 |
1.49 |
1.03 |
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Return On Equity |
.. |
5.00 |
6.74 |
5.59 |
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Notes:
Forecast (or estimated) figures for the 30/04/2012 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.90 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.65.41 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.