MIRA INFORM
REPORT
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Report Date : |
14.01.2012 |
IDENTIFICATION DETAILS
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Name : |
NIPPON PARISON CO LTD |
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Registered Office : |
880 Shimokobashi Sakaicho Sarushimagun
Ibaraki-Pref 306-0432 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
January 1997 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of PET bottles |
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No. of Employees : |
80 |
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 283.3 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 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
NIPPON PARISON CO
LTD
REGD NAME
Nippon Parison KK
MAIN OFFICE
880 Shimokobashi Sakaicho
Sarushimagun Ibaraki-Pref 306-0432 JAPAN
Tel:
0280-87-8404 Fax: 0280-86-6887
URL: www.importgenius.com
E-mail: (not specified)
ACTIVITIES
Mfg of
PET bottles
BRANCHES
Nil
FACTORIES
Ibaraki,
Aichi, Gunma
OFFICER(S)
NOBUYUKI
NAGASHIMA, PRES
Norio
Nukada, dir Takahiro
Mori, dir
Naomi
Shimomiya, dir Akihiro
Nakamiya, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 15,691 M
PAYMENTS REGULAR CAPITAL Yen 1,530 M
TREND UP WORTH Yen 2,764 M
STARTED 1997 EMPLOYES 80
COMMENT
MFR OF
PET BOTTLES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$3,000,000 / O/A 45 DAYS
MAX
CREDIT LIMIT: YEN 283.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Ishihara Glass Co Ltd (See
REGISTRATION) as its mfg division for making PET bottles & containers. Has mfg bases in three areas centrally mfg
PET bottles & containers. Clients include
Coca Cola Japan.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 15,691
million, a 10% up from Yen 14,206 million in the previous term. Demand for PET bottles & containers
continued brisk in the second half, following demand rush due to torrid summer
in the first half. Exports to China
grew. The recurring profit was posted at
Yen 123 million and the net profit at Yen 26 million, respectively, compared
with Yen 78 million recurring profit and Yen 14 million net profit,
respectively, a year ago. .
For the current term ending Mar 2012 the recurring profit is projected
at Yen 125 million and he net profit at Yen 30 million, respectively, on a 2%
rise in turnover, to Yen 16,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 283.3 million, on 30 days normal terms. The proposed amount for 45 days is considered
well within the firm’s financial capacities.
REGISTRATION
Date Registered: Jan 1997
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 30,600 shares
Issued:
30,600 shares
Sum: Yen
1,530 million
Major shareholders (%):
Ishihara Glass Co Ltd* (89.8), other
No. of shareholders: 3
*.. Ishizuka Glass Co Ltd, mfr of glass bottles & tableware, founded
1941, listed Tokyo, Nagoya S/E’s, capital Yen 5,911 million, sales Yen 56,006
million, operating profit Yen 1,260 million, recurring profit Yen 1,007
million, net loss Yen 671 million, total assets Yen 67,123 million, net worth
Yen 18,461 million, employees 1,342, pres Akihiro Yamanaka
Consolidated Financials are
attached (See ATTACHMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures PET
bottles & containers (--100%).
Clients: [Mfrs,
wholesalers] Ishizuka Glass, Coca Cola Japan, other
No. of accounts:
Limited
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ishizuka Glass, Coca Cola Business Service, other.
Exports to China, other.
Payment record: Regular
Location: Business area in
Ibaraki-Pref. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Nagoya-Chuo)
MUFG
(Nagoya)
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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16,000 |
15,691 |
14,206 |
15,766 |
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Recur.
Profit |
|
125 |
123 |
78 |
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Net
Profit |
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30 |
26 |
14 |
-176 |
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Total
Assets |
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11,688 |
10,986 |
11,238 |
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Current
Assets |
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8,020 |
6,975 |
7,076 |
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Current
Liabs |
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6,162 |
5,846 |
5,373 |
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Net
Worth |
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2,764 |
2,726 |
2,719 |
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Capital,
Paid-Up |
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1,530 |
1,530 |
1,530 |
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Div.P.Share(¥) |
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147.00 |
264.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
1.97 |
10.45 |
-9.89 |
5.11 |
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Current Ratio |
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.. |
130.15 |
119.31 |
131.70 |
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N.Worth Ratio |
.. |
23.65 |
24.81 |
24.19 |
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R.Profit/Sales |
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0.78 |
0.78 |
0.55 |
.. |
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N.Profit/Sales |
0.19 |
0.17 |
0.10 |
-1.12 |
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Return On Equity |
.. |
0.94 |
0.51 |
-6.47 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT,
ISHIZUKA GLASS CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
20/03/2011 |
20/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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56,006 |
54,099 |
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Cost of Sales |
45,117 |
43,345 |
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GROSS PROFIT |
10,889 |
10,754 |
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Selling & Adm Costs |
9,629 |
9,402 |
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OPERATING PROFIT |
1,260 |
1,351 |
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Non-Operating P/L |
-253 |
-254 |
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RECURRING PROFIT |
1,007 |
1,097 |
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NET PROFIT |
-671 |
543 |
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BALANCE SHEET |
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Cash |
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1,763 |
1,744 |
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Receivables |
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11,416 |
8,621 |
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Inventory |
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12,557 |
13,705 |
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Securities, Marketable |
100 |
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Other Current Assets |
1,235 |
3,049 |
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TOTAL CURRENT ASSETS |
27,071 |
27,119 |
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Property & Equipment |
31,459 |
32,572 |
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Intangibles |
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26 |
38 |
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Investments, Other Fixed Assets |
8,567 |
8,437 |
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TOTAL ASSETS |
67,123 |
68,166 |
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Payables |
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6,684 |
4,783 |
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Short-Term Bank Loans |
11,883 |
14,137 |
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Other Current Liabs |
5,981 |
6,417 |
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TOTAL CURRENT LIABS |
24,548 |
25,337 |
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Debentures |
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9,259 |
9,136 |
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Long-Term Bank Loans |
4,595 |
4,631 |
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Reserve for Retirement Allw |
3,972 |
3,865 |
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Other Debts |
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6,288 |
5,993 |
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TOTAL LIABILITIES |
48,662 |
48,962 |
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MINORITY INTERESTS |
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Common
stock |
5,911 |
5,911 |
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Additional
paid-in capital |
4,149 |
4,149 |
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Retained
earnings |
1,508 |
2,285 |
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Evaluation
p/l on investments/securities |
550 |
503 |
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Others |
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6,610 |
6,622 |
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Treasury
stock, at cost |
(267) |
(267) |
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TOTAL S/HOLDERS` EQUITY |
18,461 |
19,203 |
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TOTAL EQUITIES |
67,123 |
68,166 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
20/03/2011 |
20/03/2010 |
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Cash
Flows from Operating Activities |
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5,902 |
3,594 |
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Cash
Flows from Investment Activities |
-3,808 |
-4,854 |
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Cash
Flows from Financing Activities |
-2,774 |
1,477 |
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Cash,
Bank Deposits at the Term End |
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963 |
1,644 |
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ANALYTICAL RATIOS Terms ending: |
20/03/2011 |
20/03/2010 |
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Net
Worth (S/Holders' Equity) |
18,461 |
19,203 |
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Current
Ratio (%) |
110.28 |
107.03 |
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Net
Worth Ratio (%) |
27.50 |
28.17 |
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Recurring
Profit Ratio (%) |
1.80 |
2.03 |
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Net
Profit Ratio (%) |
-1.20 |
1.00 |
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Return
On Equity (%) |
-3.63 |
2.83 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.43 |
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UK Pound |
1 |
Rs.79.10 |
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Euro |
1 |
Rs.66.17 |
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.