MIRA INFORM REPORT
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Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
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Name : |
OKABE KAMIKON CO LTD |
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Registered Office : |
2-14-28 Naeshiro Moriyamaku Nagoya
463-0046 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
May 1967 |
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Com. Reg. No.: |
(Nagoya-Moriyamaku) 054402 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of corrugated cardboard, packaging materials |
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No. of Employees
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45 |
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 19.2 Million |
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Status : |
Satisfactory |
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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
OKABE KAMIKON CO LTD
REGD NAME
KK Okabe Kamikon
(Kamicon means Paper Containers)
MAIN OFFICE
2-14-28 Naeshiro
Moriyamaku Nagoya 463-0046 JAPAN
Tel:
052-793-3113 Fax: 052-795-0861
URL: http://www.okabekamicon.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
corrugated cardboard, packaging materials
BRANCHES
Nil
FACTORIES
At the
caption address, Seto, Aichi; China
OFFICERS
SATORU
OKABE, PRES Norio
Okada, mgn dir
Miyako
Okabe, dir Keiko
Okada, dir
Hitomi
Okabe, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,000 M
PAYMENTS No
Complaints CAPITAL Yen 30 M
TREND SLOW WORTH Yen
924 M
STARTED 1967 EMPLOYES 45
COMMENT
MFR OF CORRUGATED CARTON, PACKAGING MATERIALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 19.2 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Masaaki Okabe in order to make most of his experience in the subject line of business. Satoru is his son, who took the pres office in Mar 2011. This is a specialized mfr, wholly owned by the Okabe families, of packaging materials: corrugated cardboard & cartons, other. Operates an mfg factory in China, which supplies the materials to the local market as well as exports to Japan. Clients include electronics makers, other.
FINANCIAL INFORMATION
Financial are only partially disclosed as is the case with family-based companies.
The sales volume for Mar/2011 fiscal term amounted to Yen 1,000 million, a 5% up from Yen 950 million in the previous term. The operations incurred a deficit to post Yen 64 million net losses for the term, compared with Yen 70 million net profit a year ago. The losses are referred to the retirement allowances paid to the ex-president, Masaaki Okabe, and other retirees.
For the current term ending Mar 2012 the operations are projected to come back to profitability to post Yen 60 million net profit, on a 10% rise in turnover, to Yen 1,100 million. Demand is increasing from pharmaceutical makers & electronics mfrs.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 19.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: May 1967
Regd No.: (Nagoya-Moriyamaku) 054402
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Masaaki Okabe, Satoru Okabe
& families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures packaging materials:
corrugated cardboard & cartons, other (--100%).
Clients: [Mfrs, wholesalers] Maruei Co (Dept store) (20%), Epson Logistics, Omron Corp, NSP, Panasonic, Toshiba Logistics, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Maruei Co, NP Trading Co, NSP, Suzuki Shikojo, Stora Enso Japan, other.
Imports from China, other.
Payment record: No Complaints
Location: Business area in Nagoya. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
· Seto Shinkin Bank (Omori)
· Aichi Bank (Murayama)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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1,100 |
1,000 |
950 |
1,000 |
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Recur.
Profit |
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Net
Profit |
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60 |
-64 |
70 |
65 |
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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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924 |
988 |
918 |
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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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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.00 |
5.26 |
-5.00 |
9.17 |
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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 |
5.45 |
-6.40 |
7.37 |
6.50 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2012 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.49.65 |
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UK Pound |
1 |
Rs.77.80 |
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Euro |
1 |
Rs.65.05 |
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.