MIRA INFORM REPORT
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Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
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Name : |
IDAKA & CO LTD |
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Registered Office : |
1-6-3 Kamimaezu Nakaku Nagoya 460-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
November 1950 |
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Com. Reg. No.: |
(Nagoya-Nakaku) 034174 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of machine tools, measuring instruments,
hydraulic equipment, other industrial
equipment |
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No. of Employees
: |
231 |
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 1,151.9 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
|
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
IDAKA & CO LTD
REGD NAME
KK Idaka
MAIN OFFICE
1-6-3 Kamimaezu
Nakaku Nagoya 460-0013 JAPAN
Tel:
052-321-9251 Fax: 052-339-0936
E-Mail address: info@idaka.co.jp
ACTIVITIES
Import, export, wholesale of machine tools, measuring instruments,
hydraulic equipment, other industrial
equipment
BRANCHES
Kariya,
Nara, Toyoda, Tomakomai, Komaki, Kitakyushu, Kanazawa, Koga
OVERSEAS
USA
(2), Thailand, China (3), Europe (2), Indonesia (--subsidiaries)
FACTORIES
(subcontracted)
OFFICER(S)
KENJI
TAKADA, PRES Hiroshi Mase,
mgn dir
Hiroshi
Ishikawa, dir Hisayoshi
Kato, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 22,901 M
PAYMENTS No Complaints CAPITAL Yen
313 M
TREND SLOW WORTH Yen
11,121 M
STARTED 1950 EMPLOYES 231
COMMENT
TRADING HOUSE SPECIALIZING IN
MACHINE TOOLS & INDUSTRIAL MACHINERY. & EQUIPMENT
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,151.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Katsuhiko Takada in order to make
most of his experience in the subject line of business. Kenji is the founder’s grandson. This is a trading firm specializing in
import, export and wholesale of machine tools, measuring instruments,
air/hydraulic equipment, cutting tools, other industrial equipment. 50% of business is for Toyota Motor and its
group firms. Overseas subsidiaries are
in USA, China (3), Europe, Thailand and Indonesia (opened in Apr 2011).
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 22,901
million, a 46% up from Yen 15,674 million in the previous term. Automobile industries revived. The sales in the previous term were
substantially affected by the global economic downturn, particularly car
industries were the most. Now car
industries came back to normal. The
recurring profit was posted at Yen 309 million and the net profit at yen 197 million,
respectively, compared with Yen 568 million recurring loss and Yen 474 million
net losses, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 330 million and the net profit at Yen 200 million, respectively, on a 9%
rise in turnover, to Yen 25,000 million.
Newly opened Indonesian subsidiary will contribute. Exports continue robust.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen
11,121 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1950
Regd No.: (Nagoya-Nakaku) 034174
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12 million shares
Issued: 3 million shares
Sum: Yen 313
million
Major shareholders (%): Employees’ S/Holding Assn (26.9),
Kenji Takada (23.9), Idaka Kosan (17.6), Kahoko Takada (10.0), Yoko Hayashi
(2.6)
No. of shareholders: 56
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Trading house for
import, export and wholesale of: Machine tools (32%, auxiliary & peripheral
equipment (17%), measuring instruments & tools (9%), cutting tools (16%),
air/hydraulic equipment (12%), environmental-related machinery & equipment
(14%).
Exports (13%)
Clients: [Automakers,
other mfrs] Toyota Motor, Mitsubishi Heavy Ind, Brother Ind, Denso
Corp, Aisan Ind, Toyota Kohki, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui Seiki Kogyo, Tungaloy Corp, Mori Seiki Co, Tsugami Corp, Mitsutoyo
Corp, Koganei Corp, other.
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
·
SMBC (Kamimaezu)
·
MUFG (Kamimaezu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
|
25,000 |
22,901 |
15,674 |
33,527 |
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Recur.
Profit |
|
330 |
309 |
-568 |
624 |
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Net
Profit |
|
200 |
197 |
-474 |
337 |
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Total
Assets |
|
|
18,340 |
15,885 |
18,047 |
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Current
Assets |
|
|
7,190 |
4,893 |
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Current
Liabs |
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|
2,845 |
2,799 |
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Net
Worth |
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11,121 |
10,952 |
11,456 |
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Capital,
Paid-Up |
|
|
313 |
313 |
313 |
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Div.P.Share(¥) |
|
|
10.00 |
10.00 |
10.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.17 |
46.11 |
-53.25 |
-6.98 |
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Current Ratio |
|
.. |
252.72 |
174.81 |
.. |
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N.Worth Ratio |
.. |
60.64 |
68.95 |
63.48 |
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R.Profit/Sales |
|
1.32 |
1.35 |
-3.62 |
1.86 |
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N.Profit/Sales |
0.80 |
0.86 |
-3.02 |
1.01 |
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Return On Equity |
.. |
1.77 |
-4.33 |
2.94 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
|
UK Pound |
1 |
Rs.77.74 |
|
Euro |
1 |
Rs.65.19 |
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.