MIRA
INFORM REPORT
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Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
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Name : |
CHUGOKU ELECTRICAL INSTRUMENTS CO LTD |
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Registered Office : |
2-4-6 Tsurue Fuchucho Akigun
Hiroshima-Pref 735-0008 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
June 1954 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Engineering of electric works,
manufacturer of electric measuring instruments |
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No. of Employees : |
350 |
RATING & COMMENTS
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MIRAs 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 372.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 30, 2011
|
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 and address
CHUGOKU ELECTRICAL INSTRUMENTS CO LTD
REGD NAME: Chugoku
Keiki Kogyo KK
MAIN OFFICE: 2-4-6
Tsurue Fuchucho Akigun Hiroshima-Pref 735-0008 JAPAN
Tel:
082-890-8210 Fax: 082-890-8230
URL: http://www.chukeiko.co.jp
E-Mail address: info@chukeiko.co.jp
ACTIVITIES
Engineering of electric
works, mfg of electric measuring instruments
BRANCHES
Matsue, Okayama,
Tottori, Yamaguchi
FACTORIES
At the caption
address
OFFICERS
KIYOSHI OCHI, PRES Noboru Takayama, mgn
dir
Kenji Omori, dir Takashi
Tamano, dir
Katsunori Otsubo,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,014 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen 3,475 M
STARTED 1954 EMPLOYES 350
COMMENT
ENGINEERING WORKS, WHOLLY OWNED BY CHUGOKU ELECTRIC
POWER INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$150,000.00 / O/A 60 DAYSORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 372.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
on the basis of an engineering division separated from Chugoku Electric Power
Co Inc, Hiroshima (See REGISTRATION). This is an engineering firm specializing in
electrical woks. Also manufactures
electrical measuring instruments.
Clients include electric firms, other, nationwide
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 7,014 million, a 1% down from Yen 7,178 million in the
previous term. This is referred to the electric
shortage as affected by the Great North Japan Earthquake which occurred in
March 2011. Electric saving was in
effect. The recurring profit was posted
at Yen 199 million and the net profit at Yen 15 million, respectively, compared
with Yen 160 million recurring profit and Yen 6 million net profit,
respectively, a year ago.
For the current term ending Mar 2012
the recurring profit is projected at Yen 200 million and the net profit at Yen
16 million, respectively, on a 4% rise in turnover, to Yen 7,300 million. Energy saving still continues.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 372.4 million, on 30 days normal
terms. The proposed amount for 60 days
terms is considered well within the firms financial capacities.
REGISTRATION
Date Registered: Jun
1954
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major
shareholders (%): Chugoku Electric Power Co Ind* (100)
*.. Medium scale electric power firm serving
Chugoku area, founded 1951, listed Tokyo, Osaka S/Es, capital Yen 185,527
million, sales Yen 1,094,299 million, operating profit Yen 48,480 million, recurring profit Yen 23,863
million, net profit Yen 1,792 million, total assets Yen 2,857,172 million, net
worth Yen642,413 million, employees 14,518, pres Tomohide Karita
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Engineering firm
owned by Chugoku Electric Power Co Inc, specializing in electrical works, mfg
of electric measuring instruments, other (--100%)
Clients: [Mfrs,
wholesalers] Chugoku Electric Power Co, Energia Communications, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Corp, Mitsubishi Electric, Saiko Engineering, other
Payment record: Regular
Location: Business area in
Hiroshima. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of Hiroshima
(H/O)
Momiji Bank
(Sanjo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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7,300 |
7,014 |
7,078 |
6,404 |
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Recur.
Profit |
|
200 |
199 |
160 |
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Net
Profit |
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16 |
15 |
7 |
63 |
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Total
Assets |
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5,210 |
5,108 |
4,997 |
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Current
Assets |
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2,722 |
3,488 |
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Current
Liabs |
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1,192 |
1,094 |
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Net
Worth |
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3,475 |
3,462 |
3,469 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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Div.P.Share(₯) |
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1.30 |
13.20 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.08 |
-0.90 |
10.52 |
4.13 |
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Current Ratio |
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.. |
228.36 |
318.83 |
.. |
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N.Worth Ratio |
.. |
66.70 |
67.78 |
69.42 |
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R.Profit/Sales |
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2.74 |
2.84 |
2.26 |
.. |
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N.Profit/Sales |
0.22 |
0.21 |
0.10 |
0.98 |
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Return On Equity |
.. |
0.43 |
0.20 |
1.82 |
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Notes: Forecast
(or estimated) figures for the 31/03/1012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.23 |
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|
1 |
Rs.82.87 |
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Euro |
1 |
Rs.69.13 |
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 SCs 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.