MIRA INFORM REPORT

 

 

Report Date :           

01.03.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

IBIKO CO LTD

 

 

Registered Office :

2-31 Mangoku Ogaki City Gifu-Pref 503-8552

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

March 1945

 

 

Com. Reg. No.:

2000-01-0132224

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of construction materials, agricultural materials

 

 

No. of Employees :

452

 

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

 

Maximum Credit Limit :

Yen 361.7 Million

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

IBIKO CO LTD

 

 

REGD NAME

 

Ibigawa Kogyo KK

 

 

MAIN OFFICE

 

2-31 Mangoku Ogaki City Gifu-Pref 503-8552 JAPAN

Tel: 0584-81-6171     

                                               

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

E-Mail address:                        try@ibiko.co.jp

 

 

ACTIVITIES  

 

Mfg of construction materials, agricultural materials, other

 

 

BRANCHES

 

Nagoya, Yokkaichi, Toyokawa, Osaka

 

 

FACTORIES

 

At the caption address, Kobe, Kagamihara, other

 

 

OFFICERS

 

TOYOAKI INOUE, PRES                        Toshio Tanabe, s/mgn dir

Yasushi Hayano, mgn dir                        Masahiro Koyasu, mgn dir

Hiroshi Kondoh, dir                                 Kazumichi Otsuka, dir                           

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 8,744 M

PAYMENTS                  No Complaints          CAPITAL           Yen 518 M

TREND             UP                                WORTH            Yen 5,249 M

STARTED                     1945                             EMPLOYES      452

 

 

COMMENT

 

MFR OF CONSTRUCTION MATEIALS, OTHER.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 361.7 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Y Inoue in order to make most of his experience in the subject line of business.  Toyoaki is his son.  This is a specialized mfg of construction materials, agro materials, other (See OPERATION).  Goods are imported & exported.  Clients include construction firms, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jul/2011 fiscal term amounted to Yen 8,744 million, a 12% down from Yen 9,917 million in the previous term, as affected by the sluggish construction industry.  The recurring profit was posted at Yen 274 million and the net profit at Yen 139 million, respectively, compared with Yen 350 million recurring profit and Yen 153 million net profit, respectively, a year ago.

 

For the current term ending Jul 2012 the recurring profit is projected at Yen 280 million and the net profit at Yen 140 million, respectively, on a 1.4% rise in turnover, to Yen 8,900 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 361.7 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Mar 1945

Regd No.:           2000-01-0132224

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         21 million shares

Issued:             7.36 million shares

Sum:                   Yen 518 million

 

Major shareholders (%): IK Sangyo (17.7), Toyoaki Inoue (11.8), Employees’ S/Holding Assn (7.0), Juroku Bank (4.9), Ogaki Bank (4.9)

 

No. of shareholders: 203

 

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

 

 

OPERATION

           

Activities: Manufactures & imports construction materials (concrete, peat litter, peat moss, other) for construction industry (55%), for hotels-related (14%), for agriculture-related (13%), physical distribution (14%), others (4%)

 

Clients: Construction industries, hotels, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Taiheiyo Cement, Clion Co, Furusato Kiyomi KK, other

 

Payment record: No Complaints

 

Location: Business area in Ogaki city.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Ogaki Kyoritsu Bank (H/O)

Juroku Bank (Ogaki)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/07/2012

31/07/2011

31/07/2010

31/07/2009

Annual Sales

　

8,900

8,744

9,917

10,631

Recur. Profit

　

280

274

350

　

Net Profit

　

140

139

153

43

Total Assets

　

　

8,534

8,557

9,588

Current Assets

　

　

4,411

4,161

　

Current Liabs

　

　

2,631

2,341

　

Net Worth

　

　

5,249

5,158

5,101

Capital, Paid-Up

　

　

518

518

518

Div.P.Share(¥)

　

　

7.50

7.50

7.50

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.78

-11.83

-6.72

-1.12

    Current Ratio

 

..

167.65

177.74

..

    N.Worth Ratio

..

61.51

60.28

53.20

    R.Profit/Sales

 

3.15

3.13

3.53

..

    N.Profit/Sales

1.57

1.59

1.54

0.40

    Return On Equity

..

2.65

2.97

0.84

 

Notes: Forecast (or estimated) figures for the 31/07/2012 fiscal term.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.94

UK Pound

1

Rs.77.95

Euro

1

Rs.65.94

 

 

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.