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Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
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Name : |
MITO KOGYO CO LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
November 1957 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 030387 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of metal working tools, metal cutting machine tools |
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No. of Employees : |
280 |
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 : |
-- |
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) |
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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 |
MITO KOGYO CO LTD
REGD NAME:
MAIN OFFICE:
Tel:
03-3252-1211 Fax: 03-5298-6590
URL: http//:www.mitokogyo.co.jp
E-mail: info@mitokogyo.co.jp
Mfg of metal
working tools, metal cutting machine tools
HIROSHI MARUYAMA,
PRE Masahiro Osawa, rep dir
Yoriko Narita, dir Hisayoshi
Shinohara, dir
Kiyoshi Iwasaka,
dir Masao Maruyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,011 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
48 M
TREND UP WORTH Yen 3,525 M
STARTED 1957 EMPLOYES 280
MFR OF MACHINE
TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established by Shigeyuki Narita in order to make most of his experience in the
subject line of business, and has been succeeded by the present
executives. Hiroshi Maruyama took the
post of presidency in Dec 2009. This is
a specialized mfr of machine tools: metal cutting machine tools, metal working
tools, jig, other. Goods are
subcontracted mfg to factories in China, Taiwan and Korea, in addition to its
own factory in Mito (Ibaraki-Pref). The
Mito Factory was damaged by the Great East Japan Earthquake, but resumed
operations. Clients include Defense
Agency, and such mfrs as automobile, industrial machinery, construction,
aerospace, shipbuilding industries, other.
The sales volume for
Apr/2011 fiscal term amounted to Yen 14.011 million, a 22% up from Yen 11,491
million in the previous term. Market
revived steeply from the global economic downturn in the last term. Sales rose sharply, supported by robust
demand in China, India and other emerging nations. Production in China increased sharply. As a result, the operations came back to
profitability to post Yen 187 million recurring profit and Yen 143 million net
profit, respectively, compared with Yen 439 million recurring loss and Yen 440 million
net losses, respectively, a year ago.
.
For the term that
ended Apr 2012 the recurring profit was projected at Yen 200 million and the
net profit at Yen 155 million, respectively, on a 7% rise in turnover, to Yen
15,000 million. Final results are yet to
be released.
The financial situation
is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 466.9
million, on 30 days normal terms.
Date Registered: Nov
1957
Regd No.:
(Tokyo-Chiyodaku) 030387
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 384,000 shares
Issued: 95,000 shares
Sum: Yen 48 million
Major shareholders (%): Mito Shoji*
(53.5), Yoriko Narita (19.7), Shigeyuki Narita (13.3)
No. of shareholders: 10
*.. Holding company
owned by the Narita family.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
machine tools: metal working tools, metal cutting machine tools; automotive
parts (batteries, solax, other), measuring instruments, other (--100%).
Goods are mostly manufactured in China, Korea and Taiwan and imported.
Clients: [Government
agencies, heavy machinery mfrs, wholesalers] Defense Agency, Mitsubishi Heavy
Ind, Mitsubishi Motor, Kawasaki Heavy Ind, Komatsu Ltd, Yamaha Motor, Hitachi
Ltd, Suzuki Motor, Isuzu Motor, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsubishi Material, Kyocera Corp, Tohnichi Mfg, OSG Corp, Riken Kiki,
Lincoln Ind, Yamaco Co, Lincoln Ind, other.
Imports from China, Taiwan, Korea, other.
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kanda-Ekimae)
MUFG (Kanda-Ekimae)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/04/2012 |
30/04/2011 |
30/04/2010 |
30/04/2009 |
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Annual
Sales |
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15,000 |
14,011 |
11,491 |
15,420 |
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Recur.
Profit |
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200 |
187 |
-439 |
87 |
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Net
Profit |
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155 |
143 |
-440 |
39 |
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Total
Assets |
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9,339 |
8,007 |
8,270 |
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Current
Assets |
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7,229 |
5,876 |
6,054 |
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Current
Liabs |
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5,335 |
3,948 |
3,579 |
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Net
Worth |
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3,525 |
3,382 |
3,822 |
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Capital,
Paid-Up |
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|
48 |
48 |
48 |
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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 |
7.06 |
21.93 |
-25.48 |
-5.68 |
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Current Ratio |
|
.. |
135.50 |
148.83 |
169.15 |
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N.Worth Ratio |
.. |
37.74 |
42.24 |
46.22 |
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R.Profit/Sales |
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1.33 |
1.33 |
-3.82 |
0.56 |
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N.Profit/Sales |
1.03 |
1.02 |
-3.83 |
0.25 |
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Return On Equity |
.. |
4.06 |
-13.01 |
1.02 |
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Notes: Forecast
(or estimated) figures for the 30/04/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.95 |
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|
1 |
Rs.86.56 |
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Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.