MIRA INFORM REPORT
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Report Date : |
02.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
MDI CORPORATION |
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Registered Office : |
2-13-1 Watarida Higashicho Kawasaki City |
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Country : |
Japan |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
December 2005 |
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Com. Reg. No.: |
(Kawasaki-Kawasakiku) 077359 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of heat exchangers, cooling towers, liquid coolant,
other |
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No. of Employees
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08 |
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 5.6 Million |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
MDI CORPORATION
REGD NAME
MDI KK
MAIN OFFICE
Cosmo Kawasaki
503, 1-4-13 Kaizuka Kawasakiku Kawasaki Kanagawa-Pref, 210-0014 JAPAN
Tel:
044-220-6550 Fax: 044-222-6553
*.. Registered at: 2-13-1 Watarida Higashicho Kawasaki City, as given
URL: www.mdirect.jp
E-mail: accept@mdirect.jp
ACTIVITIES
Mfg of
heat exchangers, cooling towers, liquid coolant, other
BRANCHES
Nil
FACTORIES
At the
caption address
OFFICER(S)
KENJI
IWASAWA, PRES
Hideo
Iwasawa, dir
Atsushi
Adachi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 260 M
PAYMENTS No Complaints CAPITAL Yen
10 M
TREND STEADY WORTH Yen 85 M
STARTED 2005 EMPLOYES 8
COMMENt
MFR SPECIALIZING IN HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
MAX CREDIT LIMIT: YEN 5.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kenji Iwasawa in order to make most
of his experience in the subject line of business. This is a specialized mfg of heat exchangers,
cooling towers, liquid coolant, heat pump chillers, other. Goods are exported. Clients include major steel mfrs, chemical
mfrs, other, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Aug/2011 fiscal term amounted to Yen 260 million,
an 18% up from Yen 220 million in the previous term. Exports were robust. New clients of Hitachi Ltd group firms
contributed to the sales growth. The net
profit was posted at Yen 5 million, compared with Yen 4 million a year
ago.
For the current term ending Aug 2012 the net profit is projected at Yen
5 million, on a 4% rise in turnover, to Yen 270 million. Business is seen steadily expanding.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 5.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Dec 2005
Regd No.: (Kawasaki-Kawasakiku) 077359
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%):
Kenji Iwasawa (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures: plate heat exchangers, cooling towers, heat pump chillers, dynamic descalers, scale/titanium/aluminum liquid coolants, other (--100%)
Clients: [Steel mfrs, chemical mfrs, wholesalers] Nippon Steel Corp, Nippon Steel Chemicals, Mitsui Chemical, Hitachi Appliance, IHI, Mitsubishi Heavy Ind, Hitachi-Kucho SE Ltd, Hachiyo Engineering Corp, other
Goods are exported to China, other S/E Asian countries
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Precision Dynamics Corp, TERRA Cooling Tower, Tokyo Titanium Co, Hamada Kogyo Co, Hachiyo Engineering Corp, other
Payment record: Regular
Location: Business area in Kawasaki. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
· SMBC (Kawasaki)
· Bank of Yokohama (Oshima)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/08/2012 |
31/08/2011 |
31/08/2010 |
31/08/2009 |
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Annual
Sales |
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270 |
260 |
220 |
215 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
4 |
1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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85 |
80 |
75 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.85 |
18.18 |
2.33 |
19.44 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.85 |
1.92 |
1.82 |
0.47 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2012 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.49.53 |
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UK Pound |
1 |
Rs.77.95 |
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Euro |
1 |
Rs.64.66 |
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.