MIRA
INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
KATOLEC CORPORATION |
|
|
|
|
Registered Office : |
2-8-7 Edagawa Kotoku Tokyo 135-0051 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
April 1967 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Trucking, warehousing, EMS |
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 1,283.9 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 – 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
KATOLEC CORPORATION
REGD NAME: Katolec
KK
MAIN OFFICE: 2-8-7
Edagawa Kotoku Tokyo 135-0051 JAPAN
Tel: 03-5683-7000 Fax: 03-5683-7010
E-Mail address: info@katolec.com
ACTIVITIES
Trucking,
warehousing, EMS
BRANCHES
Nationwide (41)
OVERSEAS
Indonesia,
Thailand, Philippines, China, Hong Kong, Vietnam, USA (--EMS)
FACTORIES
Matsuyama (EMS)
OFFICERS
EISUKE KATO, PRES Kazuo Takeshita,
s/mgn dir
Masakatsu Takagi,
mgn dir Yoshitada
Nakai, mgn dir
Naohisa Shirai,
dir Takuya
Honjo, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 31,361 M
PAYMENTS REGULAR CAPITAL Yen 76 M
TREND STEADY WORTH Yen
16,852 M
STARTED 1967 EMPLOYES 1,820
COMMENT
LOGISTICS, WAREHOUSING, EMS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 1,283.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
originally in 1877 as an inland freight forwarder as Kato Rikuun Co. Incorporated in 1967, the firm switched
operation to inland trucking services.
Renamed as captioned in 1992. The
operations have two pillars: logistics (trucking, warehousing, customs
clearance, other) and EMS (Electronics Mfg Services). Operates EMS centers in 6 overseas
countries. Clients include electronics
mfrs, housing industries, other, nationwide.
FINANCIAL INFORMATION
The sales volume for 2011 fiscal
term amounted to Yen 31,361 million, a 5% up from Yen 29,738 million in the
previous term. EMS works were robust in
China and S/E Asia. The recurring profit
was posted at Yen 603 million and the net profit at Yen 406 million,
respectively, compared with Yen 765 million recurring profit and Yen 424
million net profit, respectively, a year ago.
For the current term ending Mar 2012
the recurring profit is projected at Yen 610 and the net profit at Yen 410
million, respectively, on a 5% rise in turnover, to Yen 33,000 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 1,283.9 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Apr
1967
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 600,000 shares
Issued: 152,000 shares
Sum: Yen 76 million
Major
shareholders (%): Tokyo Small & Medium Business Promotion & Investment Co
(30.9), Kyoei Kosan (14.5), Company’s
Treasury Stock (9.2)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Specializes in logistics,
warehousing, EMS, other (--100%)
(Operations
breakdown):
Logistics: inland trucking,
warehousing, customs clearance, centrally of artworks;
EMS: AV products
(VTR, video camera, TV monitor, plasma display, audio equipment, digital
camera, car audio); home electric appliances (electric ovens, pumps, laundry
machines, kitchen units); office equipment (printers, Fax machines, copying
machines); IT-related (hard disks, disk drives, mobile phones (backlight
inverter); others (medical equipment, auto dispensers, amusement equipment,
other)
Clients: [Mfrs,
wholesalers] Panasonic Healthcare, Panasonic Corp, Kubota Corp, Daiwa House
Ind, Nippon Meat Packers, Sanyo Electric Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] ENEOS Frontier, UD Trucks, Hino Diesel, Shikoku Kiki Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Corporate Bank
(Nihombashi)
Hyakujushi Bank (Tokyo)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
33,000 |
31,361 |
29,738 |
33,680 |
|
Recur.
Profit |
|
610 |
603 |
765 |
|
|
Net
Profit |
|
410 |
406 |
424 |
389 |
|
Total
Assets |
|
|
33,811 |
32,175 |
30,731 |
|
Current
Assets |
|
|
12,182 |
11,449 |
|
|
Current
Liabs |
|
|
15,426 |
15,370 |
|
|
Net Worth |
|
|
16,852 |
16,449 |
16,026 |
|
Capital,
Paid-Up |
|
|
76 |
76 |
76 |
|
Div.P.Share(¥) |
|
|
18.00 |
18.00 |
18.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.23 |
5.46 |
-11.70 |
-1.84 |
|
|
Current Ratio |
|
.. |
78.97 |
74.49 |
.. |
|
N.Worth Ratio |
.. |
49.84 |
51.12 |
52.15 |
|
|
R.Profit/Sales |
|
1.85 |
1.92 |
2.57 |
.. |
|
N.Profit/Sales |
1.24 |
1.29 |
1.43 |
1.15 |
|
|
Return On Equity |
.. |
2.41 |
2.58 |
2.43 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.67 |
|
|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
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.