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Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CASHEW CO LTD |
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Registered Office : |
1-407-1
Yoshinocho Kitaku Saitama 331-0811 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
November 1948 |
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Com. Reg. No.: |
0399-01-001964 (Saitama-Kitaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of paints, resins, painting equipment |
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No. of Employees : |
286 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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 |
CASHEW CO LTD
Cashew KK
1-407-1 Yoshinocho
Kitaku Saitama 331-0811
Tel: 048-653-1115 Fax:
048-653-2770
E-Mail address: (thru the URL)
Mfg of
paints, resins, painting equipment
Tokyo,
Nagoya, Fukuoka
China
(4), Indonesia, Malaysia, Thailand, Singapore, Korea, Poland, other
At the
caption address, Kuki, Osaka
RYU
SHIMIZU, PRES Shunichiro
Shimizu, s/mgn dir
Yoshiaki
Onoda, mgn dir Tsuyoshi
Totsugi, dir
Satoru
Nawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 8,492 M
PAYMENTS No
Complaints CAPITAL Yen
145 M
TREND SLOW WORTH Yen 1,605 M
STARTED 1948 EMPLOYES 286
MFR OF PAINTS & RESINS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as Japan Lacquer Paint Co
Ltd for mfg patented oil paints, and in 1953 renamed as captioned. This is a specialized mfr of paints and
synthetic resins. Has 10 overseas
offices: China 84), Malaysia, Indonesia, Singapore, Korea, Germany Poland,
other. Also agents in Italy, UK, Germany,
USA, other. Produces are widely
exported. Clients include car makers,
paint mfrs, other, nationwide
The sales volume for Mar/2012 fiscal term amounted to Yen 8,492 million,
a 6% down from Yen 8,993 million in the previous term. High Yen hurt export revenues & profits
in Yen terms, despite the volume of exports exceeded the previous year. The recurring profit was posted at Yen 187
million and the net profit at Yen 86 million, respectively, compared with Yen
371 million recurring profit and Yen 155 million net profit, respectively, a
year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 190 million and the net profit at Yen 90 million, respectively, on a 3%
rise in turnover, to Yen 8,750 million.
Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Nov 1948
Regd
No.: 0399-01-001964 (Saitama-Kitaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.16 million shares
Issued:
290,000 shares
Sum: Yen 145 million
Major shareholders (%): Shunichiro Shimizu (26), Hideo
Shimizu (25), Reiko Itoh (11), Yoko Shimizu (10), Akebono Brake Ind (7)
No. of shareholders: 42
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
paints, synthetic resins, painting equipment, others (--100%)
Clients: [Mfrs, wholesalers]
CMW, Akebono Brake Ind, TBK, SGI, Cashew-U-made, Tokai Materials, Japan Brake
Ind, Bronze Japan, O-Well Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Marubeni Chemix Corp, DIC, CBC, Nagase Chemical, Shoei Chemical,
Chuo Kaseihin Co, Inabata & Co, Miki & Co, Rokko Shokai Co, other
Payment record: No Complaints
Location: Business area in
Saitama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Resona
Bank (Nippori)
Saitama
Resona Bank (Omiya)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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8,750 |
8,492 |
8,993 |
8,733 |
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Recur.
Profit |
|
190 |
187 |
371 |
380 |
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Net
Profit |
|
90 |
86 |
155 |
136 |
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Total
Assets |
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6,031 |
5,924 |
5,903 |
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Current
Assets |
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4,509 |
4,444 |
1,399 |
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Current
Liabs |
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3,231 |
3,291 |
3,475 |
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Net
Worth |
|
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1,605 |
1,537 |
1,400 |
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Capital,
Paid-Up |
|
|
145 |
145 |
145 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.04 |
-5.57 |
2.98 |
-10.61 |
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Current Ratio |
|
.. |
139.55 |
135.03 |
40.26 |
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N.Worth Ratio |
.. |
26.61 |
25.95 |
23.72 |
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R.Profit/Sales |
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2.17 |
2.20 |
4.13 |
4.35 |
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N.Profit/Sales |
1.03 |
1.01 |
1.72 |
1.56 |
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Return On Equity |
.. |
5.36 |
10.08 |
9.71 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
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UK Pound |
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.