MIRA INFORM REPORT

 

 

Report Date :

11.06.2012

 

IDENTIFICATION DETAILS

 

Name :

MEINAN MACHINERY WORKS INC

 

 

Registered Office :

3-130 Kajitacho Obu Aichi-Pref 474-8543

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

June 1953

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of plywood & veneer mfg machinery

 

 

No. of Employees :

105

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Regular

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)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name

 

MEINAN MACHINERY WORKS INC

 

 

REGD NAME

 

KK Meinan Seisakusho

 

 

MAIN OFFICe

 

3-130 Kajitacho Obu Aichi-Pref 474-8543 JAPAN

Tel: 0562-47-2211     Fax: 0562-48-7300

 

URL:                 http://www.meinan.co.jp/

E-Mail address:            sales@meinan.co.jp

 

 

ACTIVITIES  

 

Mfg of plywood & veneer mfg machinery

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address

 

OFFICER(S)  

 

MIKIO TSUTSUI, PRES              Yukio Hattori, ch

Katsuji Hasegawa, dir                             Masaru Koike, dir

Yukinari Yabuki, dir                                           

 

Yen Amount:                             In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 5,322 M

PAYMENTS      REGULAR         CAPITAL           Yen 90 M

TREND STEADY           WORTH            Yen 10,646 M

STARTED         1953                 EMPLOYES      105

 

 

COMMENT    

 

MFR OF PLYWOOD MFG MACHINES. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by father of Katsuji Hasegawa, now ch at the firm, and has been succeeded by his descendants.  This is a specialized mfr of veneer & plywood mfg/processing machines at the caption address.  Clients include major timber traders and wholesalers nationwide.

           

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 5,322 million, a 216% up from Yen 71,683 million in the previous term.  The operations came back to profitability to post Yen 252 million, compared with Yen 814 million net losses a year ago.

 

For the term that ended Mar 2012 the net profit was projected at Yen 260 million, on a 3% rise in turnover, to Yen 5,500 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engage-ments

 

 

REGISTRATION

 

Date Registered:  Jun 1953

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         720,000 shares

Issued:                180,000 shares

Sum:                   Yen 90 million

 

Major shareholders (%): Katsuji Hasegawa (19), Nobuhiko Hasegawa (4), Yukio Hattori (3)

 

No. of shareholders: 95

 

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

 

 

OPERATION

 

Activities: Manufactures plywood & veneer mfg machinery: Arist-lathe veneer production line, production line for peeling veneer from small-diameter logs, others (--100%).

 

           

Clients: [Timber traders, wholesalers] Itochu Corp, Seihoku Plywood, Seihoku Corp, Asai

Plywood Works, Hayashi Plywood Ind, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Hanno Kogyosho, Ito Shokai Corp, Taisei Seisakusho, Hikari Shokai, Shinko Kikai, other

 

Payment record: Regular

 

Location: Business area in Obu City, Aichi-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Nagoya-Chuo)

MUFG (Hotta)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

　

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

5,500

5,322

1,683

8,609

Recur. Profit

　

　

　

　

　

Net Profit

　

260

252

-814

8,609

Total Assets

　

20

20

20

N/A

Net Worth

　

　

10,646

18,470

19,284

Capital, Paid-Up

　

　

90

90

90

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.34

216.22

-80.45

14.79

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

 

 

..

    N.Profit/Sales

4.73

4.74

-48.37

100.00

 

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.55.36

UK Pound

1

Rs.85.64

Euro

1

Rs.69.21

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.