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Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
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Name : |
DAISHIN INDUSTRIES LTD |
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Registered Office : |
1520-1 Funatsuke Yorocho Yorogun |
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Country : |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
August 1971 |
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Com. Reg. No.: |
2000-01-013851 (Gifu-Yorogun) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of generators, pumps, sprayers, brush cutters, tillers |
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No. of Employees : |
61 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 |
DAISHIN INDUSTRIES LTD
REGD NAME: KK
Daishin
MAIN OFFICE: 1520-1
Funatsuke Yorocho Yorogun Gifu-Pref 503-1382
Tel:
0584-36-0501 Fax: 0584-36-0504
URL: http://www.daishin-japan.co.jp/
E-Mail address: overseas@daishin-japan.co.jp
Mfg of generators,
pumps, sprayers, brush cutters, tillers
Nil
At the caption
address (site area 33,800 m2)
SHIGENORI
SOBAJIMA, PRES Mamoru Shinoda, s/mgn dir
Yoshifumi Sataka,
mgn dir Minoru
Yamada, dir
Takeshi Minowa,
dir Hironori
Yoshida, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,788 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 60 M
TREND UP WORTH Yen 231 M
STARTED 1971 EMPLOYES 61
MFR SPECIALIZING IN GENERATORS & PUMPS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established in order
to produce manual sprayers at the caption address, and in 1972 started
manufacturing power sprayers, followed by pumps in 1980, brush cutters and high
pressure washing plunger pumps in 1987.
In 1993 began producing welding generators, and in 1999 mini tillers for
gardening. The firm’s handling items
include: sprayers, industrial & construction generators, welding
generators, hedge trimmers, brush cutters, other related products used in such
areas as agriculture, civil engineering & construction industries. In 1995 established Korea Daishin Co Ltd and
in 2002 Dalian Daishin Industries Ltd, followed by Shanghai Office in
2005. Clients include heavy machinery
mfrs and specialty wholesalers.
The sales volume for Aug/2012 fiscal
term amounted to Yen 3,788 million, a 14% up from Yen 3,314 million in the
previous term. Business revived after
being affected by the global economic downturn the previous year. Exports rose.
High Yen, however, ate into earnings & profits in Yen terms. The operations came back to profitability to
post Yen 12 million recurring profit and Yen 7 million net profit,
respectively, compared with Yen 58 million recurring loss and Yen 66 million
net losses, respectively, a year ago.
For the current term ending Aug 2012 the
recurring profit is projected at Yen 15 million and the net profit at Yen 10
million, respectively, on a 4% rise in turnover, to Yen 3,950 million. Business is steadily expanding.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Aug 1971
Regd No.: 2000-01-013851 (Gifu-Yorogun)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 480,000 shares
Issued: 120,000 shares
Sum: Yen 60 million
Major shareholders
(%): Shigenori Sobajima (41), Shigehito Sobajima (6), Shoji
Haginaga (56), Yoshifumi Sataka (5)
No. of shareholders: 26
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures industrial
& construction generators, high pressure plunger pumps (water pumps,
semi-trash pumps, trash pumps, diaphragm pumps, etc), mini tillers for
gardening, brush cutters, hedge trimmers, welding generators, horticultural
pumps, others (--100%).
Clients: [Mfrs,
wholesalers] Tsurumi Mfg, Fuji Heavy Ind, Nagata Seisakusho,
Toshin Technica, other.
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Honda Motors, Mitsubishi Heavy Ind Chubu Hambai, Tokai
Denka Kogyosho, Howa Kikai Kogyo,
Payment
terms: Slow but Correct
Location: Light industrial
area in Yorogun, Gifu-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Ogaki Kyoritsu
Bank (Fujie)
MUFG (Ogaki)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/08/2012 |
31/08/2011 |
31/08/2010 |
31/08/2009 |
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Annual
Sales |
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3,950 |
3,788 |
3,314 |
4,058 |
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Recur.
Profit |
|
15 |
12 |
-58 |
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Net
Profit |
|
10 |
7 |
-66 |
-183 |
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Total
Assets |
|
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3,119 |
3,237 |
3,377 |
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Current
Assets |
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1,412 |
1,450 |
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Current
Liabs |
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1,780 |
1,851 |
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Net
Worth |
|
|
231 |
184 |
247 |
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Capital,
Paid-Up |
|
|
60 |
60 |
60 |
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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 |
4.28 |
14.30 |
-18.33 |
-29.66 |
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Current Ratio |
|
.. |
79.33 |
78.34 |
.. |
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N.Worth Ratio |
.. |
7.41 |
5.68 |
7.31 |
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R.Profit/Sales |
|
0.38 |
0.32 |
-1.75 |
.. |
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N.Profit/Sales |
0.25 |
0.18 |
-1.99 |
-4.51 |
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Return On Equity |
.. |
3.03 |
-35.87 |
-74.09 |
|
Notes:
Forecast figures for the 31/08/2012 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.01 |
|
|
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
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.