MIRA INFORM
REPORT
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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
DIO CHEMICALS LTD |
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Registered Office : |
St Luke’s Tower 13F,
6-1 Akashicho Chuoku |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
June
1956 |
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Com. Reg. No.: |
0100-01-049706 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of insect nets, agricultural nets,
construction nets, window screens |
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No. of Employees
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170 |
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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Maximum Credit Limit : |
Yen 2353.3 Million |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
DIO CHEMICALS LTD
Daio Kasei KK
St Luke’s Tower
13F, 6-1 Akashicho Chuoku Tokyo 104-0044 JAPAN
Tel:
03-6830-3000 Fax: 03-6830-3001
E-Mail address: info@dionet.jp
Mfg of
insect nets, agricultural nets, construction nets, window screens
Osaka,
Fukuoka
Fukuroi,
Kakegawa (--Shizuoka)
Sadamu
Konishi, ch
TAKASHI AOKI, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,193 M
PAYMENTS REGULAR CAPITAL Yen 1,287 M
TREND STEADY WORTH Yen
8,003 M
STARTED 1956 EMPLOYES 170
MFR SPECIALIZING IN AGRICULTURAL & INSECT NETS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS: US$125,000.00.
MAX
CREDIT LIMIT: YEN 2353.3 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established originally as Tokai Henshoku KK by Kakiuchi KK & Matsuya Omori as a specialized mfr of insect netting. This is a specialized mfg of insect netting, agricultural netting, construction-use netting & sheets, made of polypropylene. Also mfrs window screens. In Oct 1970, changed the name to the captioned. In Apr 2005, became a wholly owned consolidated subsidiary of Wavelock Holdings Co Ltd (see REGISTRATION) through capital exchange.
The sales volume for Mar/2012 fiscal term amounted to Yen 7,193 million, a 3% up from Yen 6,986 million in the previous term. Agricultural nets and construction nets rose as the construction industry revived. The recurring profit was posted at Yen 838 million and the net profit at Yen 399 million, respectively, compared with Yen 719 million recurring profit and Yen 393 million net profits, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 840 million and the net profit at Yen 410 million, respectively, on a 3% rise in turnover, to Yen 7,400 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 353.3 million, on 30 days normal terms.
Date Registered: Jun 1956
Regd No.: 0100-01-049706 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
40 million shares
Issued:
10,253,562 shares
Sum: Yen 1,287.47 million
Major shareholders (%): Wavelock Holdings Co Ltd*
(100)
*.. Holding Company of 12 group firms, at the caption address, founded 1964, capital Yen 2,185 million, turnover Yen 23,448 million, operating profit Yen 112 million, recurring profit Yen 327 million, net profit Yen 145 million, total assets Yen 23,401 million, net worth Yen 9,714 million, employees 655, pres Jun Kinebuchi.
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures insect nets, garden nets, agricultural nets to protect against insects, sunlight, wind, birds, etc, construction nets & sheets used in home remodeling, various types of nets used in landscaping, window screens, others (--100%).
Products are branded as “Wavelock” sheets.
Clients: [Mfrs, DIY goods stores, wholesalers] Tostem, Taiyo Kogyo, Tontai Co, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Dainichiseika Color & Chemicals Mfg, Japan
Polyethylene Corp, Japan Polypropylene Corp, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Nihombashi)
Shizuoka
Bank (Tokyo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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7,400 |
7,193 |
6,986 |
6,530 |
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Recur.
Profit |
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840 |
838 |
719 |
526 |
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Net Profit |
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410 |
399 |
393 |
225 |
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Total
Assets |
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9,777 |
10,194 |
10,004 |
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Current
Assets |
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5,422 |
5,492 |
5,403 |
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Current
Liabs |
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1,518 |
1,913 |
2,044 |
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Net
Worth |
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8,003 |
7,810 |
7,567 |
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Capital,
Paid-Up |
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1,287 |
1,287 |
1,287 |
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Div.P.Share(¥) |
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75.00 |
75.00 |
75.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.88 |
2.96 |
6.98 |
0.00 |
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Current Ratio |
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.. |
357.18 |
287.09 |
264.33 |
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N.Worth Ratio |
.. |
81.86 |
76.61 |
75.64 |
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R.Profit/Sales |
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11.35 |
11.65 |
10.29 |
8.06 |
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N.Profit/Sales |
5.54 |
5.55 |
5.63 |
3.45 |
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Return On Equity |
.. |
4.99 |
5.03 |
2.97 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 Fiscal Term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.91 |
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UK Pound |
1 |
Rs.80.77 |
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Euro |
1 |
Rs.67.40 |
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 |
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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.