MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

NAITO TORYO KK

 

 

Registered Office :

212 Ibarasawa Joetsu City Niigata-Pref 943-0129

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2012

 

 

Date of Incorporation :

March, 1950

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Wholesale of paints, painting tools, adhesives

 

 

No. of Employees :

17

 

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 :

Slow

 

 

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 31, 2012

 

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

 

NAITO TORYO KK

 

 

REGD NAME    

 

Naito Toryo KK

 

 

MAIN OFFICE

 

212 Ibarasawa Joetsu City Niigata-Pref 943-0129 JAPAN

Tel: 025-523-5174    

Fax: 025-522-3855

URL: htpp://www.naito-paint.co.jp

E-mail address: (thru the URL)

 

 

ACTIVITIES       

 

Wholesale of paints, painting tools, adhesives

 

 

BRANCHES   

 

Nagaoka

 

 

OFFICERS

 

YUTAKA NAITO, PRES

Keiichi Tanaka, s/mgn dir

 

 

Yen Amount           

 

In million Yen, unless otherwise stated

 

 

SUMMARY          

 

FINANCES        FAIR                             A/SALES          Yen 546 M

PAYMENTS      SLOW                          CAPITAL           Yen 10 M

TREND             STEADY                       WORTH            Yen 115 M

STARTED         1950                             EMPLOYES      17

 

 

COMMENT

 

WHOLESALER SPECIALIZING IN PAINT AND PAINTING TOOLS. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1878 and was incorporated in 1950 by Kazuyoshi Naito, the founder’s son.  This is a wholesaler specializing in paints & painting tools.  Industrial paints are the mainstay.  Paints are supplied from major paint makers.  Clients include car makers, car painters, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2012 fiscal term amounted to Yen 546 million, a 7% up from Yen 512 million in the previous term.  The operations dipped into the red to register Yen 1 million recurring loss and Yen 8 million net losses, respectively, compared with Yen 1 million recurring profit and Yen 1 million net profit, respectively, a year ago.  Price competition among the trade is harder.

 

For the current term ending Jan 2013 the recurring profit is projected at Yen 5 million and the net profit at Yen 5 million, respectively, on a 3% rise in turnover, to Yen 560 million.  The operations are expected to come back to profitability.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 11.7 million, on 30 days normal terms. 

 

 

REGISTRATION

 

Date Registered:                        Mar 1950

Legal Status:                            Limited Company (Kabushiki Kaisha)

Authorized:                               80,000 shares

Issued:                                     20,000 shares

Sum:                                        Yen 10 million

Major shareholders (%): Yutaka Naito & families (100)

No. of shareholders:                   5

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

 

 

OPERATION

 

Activities: Wholesales paints & coatings for industrial use (80%), painting tools such as painting brushes, rollers, brushes, spray guns, others (15%), adhesives, others (5%).

Clients: [Mfrs, wholesalers] Taiyo Jidosha Kogyosho, Hirabayashi Paints, Daicel Chemical Ind, Tsuchida Paints, other.

No. of accounts: 200

Domestic areas of activities: Centered in greater-Tokyo.

Suppliers: [Mfrs, wholesalers] Kansai Paints, Otsuka Brush Mfg, Otani Paint Co, Mikasa Paint, Daiwa Paints Co, Mizutani Paints, Kikusui Chemical Ind, SK Kaken Co, Suzuka Fine Co, other.

 

 

Payment record

 

Slow

 

Location: Business area in Niigata.  Office premises at the caption address are owned by Akihiko Naito as his private residence and maintained satisfactorily.

 

 

Bank References

 

                        Joetsu Bank (Takada)

                        Hachijuni Bank (Takada)

                        Relations: Satisfactory

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/01/2013

31/01/2012

31/01/2011

31/01/2010

Annual Sales

　

560

546

512

522

Recur. Profit

　

5

-1

1

7

Net Profit

　

5

-8

1

6

Total Assets

　

　

356

372

366

Current Assets

　

　

163

189

189

Current Liabs

　

　

188

219

210

Net Worth

　

　

115

122

120

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.56

6.64

-1.92

1.56

    Current Ratio

 

..

86.70

86.30

90.00

    N.Worth Ratio

..

32.30

32.80

32.79

    R.Profit/Sales

 

0.89

-0.18

0.20

1.34

    N.Profit/Sales

0.89

-1.47

0.20

1.15

    Return On Equity

..

-6.96

0.82

5.00

 

Notes: Forecast (or estimated) figures for 31/01/2013 fiscal term.

 

           


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.55

Euro

1

Rs.68.85

 

INFORMATION DETAILS

 

Report Prepared by :

SHG

 

 

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.