MIRA INFORM REPORT

 

 

Report Date :

05.07.2012

 

IDENTIFICATION DETAILS

 

Name :

MIYAZAKI ENGINEERING CO LTD

 

 

Registered Office :

1-1 Marugomecho Nakagawaku Nagoya 454-0834

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

Aug 1974

 

 

Com. Reg. No.:

1800-01-021019 (Nagoya-Nakagawaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Mfg of mechanical descaling machines, bars/wire production machines

 

 

No. of Employees :

8

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small company

Payment Behaviour :

Slow

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Japan

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

MIYAZAKI ENGINEERING CO LTD

REGD NAME:    Miyazaki Engineering KK

MAIN OFFICE:  1-1 Marugomecho Nakagawaku Nagoya 454-0834 JAPAN

Tel: 052-361-5011      Fax: 052-361-3046

 

URL:                 http://www.miyazaki-seiko.co.jp (Of the parent, Miyazaki Seiko Co)

E-Mail address: (thru the URL)

 

 

ACTIVITIES  

 

Mfg of mechanical descaling machines, bars/wire production machines

 

 

BRANCHES   

 

Nil

 

 

 

FACTORIES

 

At the caption address

 

 

OFFICERS

           

KAZUNAO SUZUKI, PRES

Kaoru Miyazaki, ch

Yoshihiro Wattenberg, dir                      

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          Yen 511 M

PAYMENTS REGULAR  CAPITAL           Yen 30 M

TREND SLOW              WORTH            Yen 135 M

STARTED         1974                 EMPLOYES      8

 

COMMENT    

 

MFR OF STEEL PRODUCTS MAKING MACHINES, OWNED BY MIYAZAKI

SEIKO CO LTD.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

           

 

HIGHLIGHTS

           

            The subject company was established on the basis of a division separated from Miyazaki Seiko Co Ltd, mfr of steel bars/wire, at the caption address (See REGISTRATION).  This is a specialized mfr o mechanical descaling machines, CD bars CHQ wire production machines, other.

 

 

FINANCIAL INFORMATION

           

            Financials are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 511 million, a 22% down from Yen 657 million in the previous term.  Exports were substantially hurt by the high Yen.  The net profit was posted at Yen 3 million, compared with Yen 5 million a year ago.

 

            For the term that ended Mar 2012 the net profit was projected at Yen 3 million, on a 3% rise in turnover, to Yen 525 million.   Final results are yet to be released. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:          Aug 1974

Regd No.:                     1800-01-021019 (Nagoya-Nakagawaku)

Legal Status:               Limited Company (Kabushiki Kaisha)

Authorized:                  240,000 shares

Issued:                         60,000 shares

Sum:                            Yen 30 million

Major shareholders (%): Miyazaki Seiko Co Ltd* (100)

 

*.. Mfr of steel bars/wires/coils, at the caption address, founded 1959, capital Yen 147

Million, sales Yen 25,660 million, net profit Yen 184 million, employees 245, pres Kaoru Miyazaki

 

Nothing detrimental is known as to the commercial morality of executives.

 

OPERATION

           

Activities: Manufactures mechanical descaling machines, CD bars CHQ wire production machines, others (--100%)

 

Clients: [Mfrs, wholesalers] Miyazaki Seiko Co, Toyo Seiko, Shimomura Tokushu Seiko, Akiyama Seiko, Suzutoyo Seiko, Matsubishi Metal Ind, Daido Special Steel, other 

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Toyo Seikan Kaisha, Taenaka Kogyo, Nippon Hyomen Kagaku, other

 

Payment record: Regular

 

Location: Business area in Nagoya.  Office premises at the caption address are owned by the parent, Miyazaki Seiko Co, and maintained satisfactorily.

 

Bank References:

Bank of Nagoya (Rokubancho)

Mizuho Bank (Nagoya-Ekimae)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

　

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

525

511

657

692

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

5

16

Total Assets

　

　

N/A

N/A

376

Net Worth

　

　

135

132

127

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.74

-22.22

-5.06

-8.95

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

33.78

    N.Profit/Sales

0.57

0.59

0.76

2.31

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.

UK Pound

1

Rs.

Euro

1

Rs.

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.