MIRA INFORM REPORT

 

Report Date :

20.04.2012

                                           

IDENTIFICATION DETAILS

 

Name :

MAC CO LTD

 

 

Registered Office :

Chiba Higashi Techno Green Park, 1-12-5 Okayamadai Togane Chiba-Pref, 283-0826

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

April, 1974

 

 

Com. Reg. No.:

(Chiba-Togane) 000703

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Manufactures commercial & industrial-use refrigerators, cooling systems, oil controllers.

 

 

No. of Employees :

35

 

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 17.4 Million

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

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 30, 2011

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

MAC CO LTD

 

 

REGD NAME

 

KK Mac

 

 

MAIN OFFICE

           

Chiba Higashi Techno Green Park, 1-12-5 Okayamadai Togane Chiba-Pref, 283-0826 JAPAN

Tel: 0475-50-1881     Fax: 0475-50-1880

 

URL:                 http//:www.macthelife.jp

E-mail:             macthelife@nifty.com    

 

 

ACTIVITIES

 

Mfg of commercial/industrial-use refrigerators, cooling system, oil controllers

 

 

BRANCHES   

 

Nil

 

 

FACTORIES

 

At the caption address (2)

 

 

OFFICER(S)  

 

HIROAKI MATSUSHITA, PRES

Kazuo Furukawa, s/mgn dir

 

 

Yen Amount

 

In million Yen, unless otherwise stated

 

 

SUMMARY

           

FINANCES        FAIR                             A/SALES          Yen 505 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 60 M

TREND             UP                                WORTH            Yen 157 M

STARTED         1974                             EMPLOYES      35

 

 

COMMENT    

 

MFR OF REFRIGERATORS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$25,000.00 / O/A 60 DAYS

 

MAX CREDIT LIMIT: YEN 17.4 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Yoichi Hirai, now ch, in order to make most of his experience in the subject line of business.  This business manufactures commercial & industrial-use refrigerators, cooling systems, control boilers, other.  Clients include major heavy machinery makers, other, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2011 fiscal term amounted to Yen 505 million, a 58% up from Yen 320 million in the previous term.  Large lot orders were received from heavy machinery makers, says the firm.  The recurring profit was posted at Yen 9 million and the net profit at Yen 4 million, respectively, compared with Yen 1 million recurring profit and Yen 1 million net profit, respectively, a year ago.  .

 

For the current term ending Dec 2012 the recurring profit is projected at Yen 10 million and the net profit at Yen 5 million, respectively, on a 4% rise in turnover, to Yen 520 million. 

           

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 17.4 million, on 30 days normal terms.  The proposed amount for 60 days terms is considered well within the firm’s financial capacities.

 

 

 

REGISTRATION

 

Date Registered:          Apr 1974

Regd No.:                     (Chiba-Togane) 000703

Legal Status:   　         Limited Company (Kabushiki Kaisha)

Authorized:      　         48,000 shares

Issued:             　         12,000 shares

Sum:                　         Yen 60 million

Major shareholders (%): Hiroaki Matsushita (50), Sachiko Matsushata (20), other

No. of shareholders:      10

           

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

 

 

OPERATION

 

Activities: Manufactures commercial & industrial-use refrigerators, cooling systems, oil controllers, other (--100%)

 

Clients: [Mfrs, wholesalers] Mitsubishi Heavy Industries, Asahi Glass Co, Okuma Corp, Sojitz Machinery Corp, Tsuda Industries Co, Yamazaki Mazak Corp, Ulvac Inc, Japan Viline Co, other

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Sunrise Ind, Toshiba Carrier Transicold Corp, Emerson Japan, Japan Oil Pump, other

 

Payment record: No Complaints

 

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

 

Bank References:

 

Chiba Bank (Togane)

Keiyo Bank (Togane)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

520

505

320

290

Recur. Profit

　

10

9

1

1

Net Profit

　

5

4

1

1

Total Assets

　

　

575

679

633

Current Assets

　

　

202

298

　

Current Liabs

　

　

66

70

　

Net Worth

　

　

157

156

156

Capital, Paid-Up

　

　

60

60

60

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.97

57.81

10.34

-68.88

    Current Ratio

 

..

306.06

425.71

..

    N.Worth Ratio

..

27.30

22.97

24.64

    R.Profit/Sales

 

1.92

1.78

0.31

0.34

    N.Profit/Sales

0.96

0.79

0.31

0.34

    Return On Equity

..

2.55

0.64

0.64

 

Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term. 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.