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Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
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Name : |
FURUKAWA MFG CO LTD |
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Registered Office : |
6-19-12 O’I Shinagawaku |
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Country : |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
March
1962 |
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Com. Reg. No.: |
0107-01-008575
(Tokyo-Shinagawaku) |
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Legal Form : |
Limited
Company |
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Line of Business : |
Manufacturer
of packaging machines |
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No. of Employees : |
268 |
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 : |
Regular |
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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 |
FURUKAWA MFG CO LTD
KK Furukawa
Seisakusho
200-65 Obara
Numata-Nishicho Mihara Hiroshima-Pref 729-0492 JAPAN
Tel:
0848-86-2100 Fax: 0848-86-6340
*.. Registered at: 6-19-12 O’I Shinagawaku Tokyo
URL: http://www.furukawa-mfg.co.jp/
E-Mail address: (thru the URL)
Mfg of
packaging machines
Tokyo,
Sapporo, Sendai, Osaka, Nagoya, Fukuoka, Chiba, other (Tot 17)
At the
caption address
MASAAKI
FURUKAWA, PRES Hiroshi Kondo, mgn dir
Tadamichi
Takeda, dir Mitsuo
Yoshimura, dir
Masahiro
Okada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,669 M
PAYMENTS REGULAR CAPITAL Yen 1,600 M
TREND UP WORTH Yen 16,456 M
STARTED 1962 EMPLOYES 268
MFR OF PACKAGING MACHINES
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1952 by Takao Furukawa for mfg plastic food packaging machines, on his account. Masaaki is the founder’s son. This is a specialized mfr of automatic vacuum packaging machines, automatic filling-sealing machines, tray-sealing machine, automatic sterilizing/cooling/drying machinery, and other food packaging machinery catering to food industry. Top mf of vacuum packaging machines, controlling about 45% market share in the domestic market. About 30% of the goods are exported to over 50 countries. Has offices in Taipei and Qingdao (China). Clients include meat packers, electronics makers, other, nationwide
The sales volume for Jan/2012 fiscal term amounted to Yen 6,669 million, a 9% up from Yen 6,143 million in the previous term. Exports rose into China and Taiwan. Export volumes compensated the loss from the high Yen. The recurring profit was posted at Yen 787 million and the net profit at Yen 402 million, respectively, compared with Yen 783 million recurring profit and Yen 412 million net profit, respectively, a year ago.
For the current term ending Jan 2013 the recurring profit is projected at Yen 800 million and the net profit at Yen 420 million, respectively, on a 5% rise in turnover, to Yen 7,000 million. Exports continues rising.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Mar
1962
Regd No.: 0107-01-008575 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
128 million shares
Issued:
32 million shares
Sum: Yen 1,600 million
Major shareholders (%): Hi-Pack (23.4), Osaka Small
& Medium Business Investment & Consultation (12.4), Employees’
S/Holding Assn (7.5)
No. of shareholders: 27
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures full automatic vacuum packaging
machines (19%), rotary-chamber type vacuum packaging machines (12%),
tray-sealing machines, automatic sterilizing/cooling/drying machines, other
packaging machines catering to food, pharmaceutical, medical industries (69%).
Exports (30%).
Clients: [Food mfrs, wholesalers] Nippon Meat
Packers, Itoham Foods, QP Corp, Sealed Air Corp Japan, Seiko Epson, CryoVac Co,
other.
No. of accounts: 800
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Nippon Bush,
Shinko Seiki, Pleco Giken Kougyou Co, Shinei Kikou Co, other.
Payment record:
Regular
Location:
Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Chugoku
Bank (Mihara)
Hiroshima
Bank (Mihara)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
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Annual
Sales |
|
7,000 |
6,669 |
6,143 |
5,491 |
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Recur.
Profit |
|
800 |
787 |
733 |
491 |
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Net
Profit |
|
420 |
402 |
412 |
145 |
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Total
Assets |
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18,543 |
17,973 |
17,376 |
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Current
Assets |
|
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14,405 |
12,329 |
12,007 |
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Current
Liabs |
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1,773 |
1,521 |
1,230 |
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Net
Worth |
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16,456 |
16,145 |
15,832 |
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Capital,
Paid-Up |
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|
1,600 |
1,600 |
1,600 |
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Div.P.Share(¥) |
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|
20.00 |
20.00 |
20.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.96 |
8.56 |
11.87 |
-13.23 |
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Current Ratio |
|
.. |
812.46 |
810.59 |
976.18 |
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N.Worth Ratio |
.. |
88.75 |
89.83 |
91.11 |
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R.Profit/Sales |
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11.43 |
11.80 |
11.93 |
8.94 |
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N.Profit/Sales |
6.00 |
6.03 |
6.71 |
2.64 |
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Return On Equity |
.. |
2.44 |
2.55 |
0.92 |
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Notes:
Forecast (or estimated) figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
|
UK Pound |
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.