MIRA
INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
NAKAGAWA BUSSAN CO LTD |
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Registered Office : |
37-23 Shiomicho Minatoku Nagoya 455-0028 |
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Country : |
Japan |
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Financials (as on) : |
31.10.2010 |
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Date of Incorporation : |
Dec 1971 |
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Com. Reg. No.: |
(Nagoya-Minatoku) 047999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale
of gasoline, fuel oils; operation of gas stations |
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No. of Employees : |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 1,653.6 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 (30.06.2011) |
Current Rating (30.09.2011) |
|
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
NAKAGAWA BUSSAN CO LTD
REGD NAME: Nakagawa
Bussan KK
MAIN OFFICE
37-23 Shiomicho
Minatoku Nagoya 455-0028 JAPAN
Tel:
052-612-1711 Fax: 052-612-2345
URL
ACTIVITIES
Wholesale
of gasoline, fuel oils; operation of gas stations
BRANCHES
Tokyo,
Osaka Nagoya, Fukuoka
FACTORIES
13 gas
stations
OFFICER(S)
HIDENOBU NAKAGAWA, PRES
Toshihiro
Nakane, mgn dir
Chizuko Nakagawa, dir
Yen
Amount: In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 175,487 M
PAYMENTS No
complaints CAPITAL Yen 12 M
TREND SLOW WORTH Yen
4,545 M
STARTED 1971 EMPLOYES 52
COMMENT
WHOLESALER
OF FUEL OIL, GASOLINE; OPERATES GAS STATIONS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,653.6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by father of Hidenobu
Nakagawa, who took the office of pres in Dec 2006. This is a wholesaler of fuel oils, gasoline,
kerosene, and other oil products. Also
operates 13 gas stations in Aichi-Pref.
Clients include government agencies, municipal offices, oil traders,
other.
FINANCIAL INFORMATION
The sales volume for Oct/2010 fiscal term amounted to Yen
175,487 million, a 16% up from Yen 151,644 million in the previous term. This is primarily referred to the hike in
petroleum/oil prices. Overall demand was
weak. The operations plunged into the red
to register Yen 4,011 million recurring loss and Yen 2,376 million net losses,
respectively, compared with Yen 187 million recurring profit and Yen 462
million net profit, respectively, a year ago.
For the term that ended Oct 2011 the operations were projected
to come back to profitability to post Yen 200 million recurring profit and Yen
100 million net profit, respectively, on a 5% rise in turnover, to Yen 184,000
million. Final results are yet to be
released.
The financial situation is considered FAIR to GOOD and
responsible for ORDINARY business engagements.
Max credit limit is estimated at Yen 1,653.6 million, on 30 days normal
terms.
.
REGISTRATION
Date Registered: Dec 1971
Regd No.: (Nagoya-Minatoku) 047999
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
24,000 shares
Sum: Yen 12
million
Major shareholders (%): N Holdings*(25), Hidenobu
Nakagawa (20), Shin’ichiro Nakagawa (20), Nobuo Nakagawa (15)
*` Holding company owned by the
Nakagawa family
No. of shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales fuel oil, gasoline,
kerosene, other petroleum products; operates 13 gas stations in Aichi-Pref
(--100%).
Clients: [Governments, municipal offices,
business firms] Ministry of Defense, Handa City Office, Nagoya City Office,
Mitsubishi Corp, Sumitomo Corp, Oji Paper, Teijin Ltd, Toyo Energy, JFE
Trading, SI Energy, Toyota Tsusho Corp, other.
No. of
accounts: 800
Domestic
areas of activities: Centered in greater-Nagoya
Suppliers: [Oil refineries, wholesalers] Taiyo
Oil, Cosmo Oil, Mitsubishi Corp, Sumitomo
Corp, Toyota Tsusho Corp, S Oil,
C&S Energy, other.
Payment record: No
complaints
Location:
Business area in Nagoya. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Nagoya)
Mizuho
Bank (Nagoya-Chuo)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
|
Terms Ending: |
31/10/2011 |
31/10/2010 |
31/10/2009 |
31/10/2008 |
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Annual
Sales |
|
184,000 |
175,487 |
151,644 |
261,750 |
|
Recur.
Profit |
|
200 |
-4,011 |
187 |
-3,595 |
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Net
Profit |
|
100 |
-2,376 |
462 |
-2,071 |
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Total
Assets |
|
|
41,897 |
43,309 |
50,600 |
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Current
Assets |
|
|
28,514 |
29,215 |
35,267 |
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Current
Liabs |
|
|
32,752 |
30,872 |
35,945 |
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Net
Worth |
|
|
4,545 |
7,046 |
6,926 |
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Capital,
Paid-Up |
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|
12 |
12 |
12 |
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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 |
4.85 |
15.72 |
-42.07 |
23.84 |
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Current Ratio |
|
.. |
87.06 |
94.63 |
98.11 |
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N.Worth Ratio |
.. |
10.85 |
16.27 |
13.69 |
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R.Profit/Sales |
|
0.11 |
-2.29 |
0.12 |
-1.37 |
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N.Profit/Sales |
0.05 |
-1.35 |
0.30 |
-0.79 |
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|
Return On Equity |
.. |
-52.28 |
6.56 |
-29.90 |
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Notes:
Forecast (or estimated) figures for the 31/10/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.64.54 |
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 |
-- |
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.