MIRA INFORM REPORT
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Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SHIGA WOOD CO LTD |
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Registered Office : |
151 Ootatsumicho Nagahama Shiga-Pref
526-0834 |
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Country : |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
June 1997 |
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Com. Reg. No.: |
1600-01-006708
(Shiga-Nagahama) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of 2x4 housing panels, pallets, plywood,
resin pallets; house building works |
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No. of Employees
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28 |
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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Maximum Credit Limit : |
Yen 56.2 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
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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 |
SHIGA WOOD CO LTD
KK Shiga Wood
151 Ootatsumicho
Nagahama Shiga-Pref 526-0834 JAPAN
Tel:
0749-62-1517 Fax: 0749-63-8817
URL: http://www.shigawood.com/
E-Mail address: info@shigawood.com
Mfg of
2x4 housing panels, pallets, plywood, resin pallets; house building works
Nil
At the
caption address
FUMIO
TAKAHASHI, PRES
Masaru
Hashimoto, dir
Hideyuki
Matsubara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCE FAIR A/SALES Yen 1,712 M
PAYMENTS o Complaints CAPITAL Yen
36 M
TREND UP WORTH Yen 241 M
STARTED 997 EMPLOYES 28
MFR
SPECIALIZING IN 2X4 HOUSING PANELS & PALLETS, OTHER BUILDING
MATERIALS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINRY
BUSINESS
ENGAGEMENTS AND GOOD FOR CREDIT ENGAGEMENTS:
CD$595,090.
MAX
CREDIT LIMIT: YEN 56.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1971 by 4 local
building makers to form a cooperative named Shiga Builders’ Coop. In 1997, the building materials mfg division
was separated to be an independent entity named as captioned. This is a specialized mfr of 2x4 housing
panels, pallets, pre-cut timbers, plywood, and other housing materials. Ranked top three mfrs in Kyoto/Shiga/Hokuriku/Tokai
areas. Material woods are imported. Clients are local house builders,
construction firms, other.
The sales volume for Jun/2011 fiscal term amounted to Yen 1,712 million,
a 15% up from Yen 1,490 million in the previous term. The housing starts revived sharply from the global
economic downturn in the last term, when the market was substantially and
negatively affected. The recurring
profit was posted at Yen 17 million and the net profit at Yen 9 million,
respectively, compared with Yen 44 million recurring profit and Yen 7 million
net profit, respectively, a year ago.
For the current term ending Jun 2012 the recurring profit is projected
at Yen 20 million and the net profit at Yen 10 million, respectively, on a 5%
rise in turnover, to Yen 1,800 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Max credit limit is estimated at Yen 56.2 million, on 30 days normal
terms. The proposed amount is considered
within the firm’s financial capacities.
Date Registered: Jun 1997
Regd No.: 1600-01-006708 (Shiga-Nagahama)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,800 shares
Issued: 721 shares
Sum: Yen 36.05 million
Major shareholders (%):
Fumio Takahashi (28), Hiroshi Kumakawa (28), Hideyuki Matsubara
(28), Yoshizo Takahashi (14),
Mitsuoki Kumakawa (2)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures 2x4
hosing panels, pallets, pre-cut timber, packaging materials, plywood, resin panels, steel pallets, other
housing & building materials (--100%).
Executes housing/building works, too.
(Handling Items):
Housing panels: 2x4 housing
panels, 2x4 housing pre-cut units, 2x4 housing lumber, other;
Housing pallets: South-Sea wood
pallets, turpentine wood pallets, resin pallets, steel racks, steel supporters,
plywood, wooden boxes, other.
Clients: [House builders,
construction companies, wholesalers] Sumitomo Realty & Develop-ment,
Produce TMY Architect, MK Builder, Barrier Free Homes, Yokohama Reito, Dainichi
Construction, Nabrane, Ikoh Ryutsu Center, Nishino Pallet Kogyo, Seiwa
Corporation, Panasonic Logistics, Sojitz Building Materials, Hattori Sangyo Co,
Token Corp, other.
No. of accounts: 500
Domestic areas of
activities: Centered in greater-Nagoya
Suppliers: [Mfrs,
wholesalers] Sumitomo Forestry, Ishii Shoten, Dainihon Wood-Preserving, Eguchi
Lumber, Orvis Corp, Yokouchi Ringyo, Marutama Ind, Dai Lumber, Gifu Plastic
Inc,
Xyence Co, Kaneka KENTEC Co, Sojitz Building Materials, other.
Payment record: No Complaints
Location: Business area in
Nagahama City, Shiga-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Shiga
Bank (Nagahama)
Shoko
Chukin Bank (Hikone)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/06/2012 |
30/06/2011 |
30/06/2010 |
30/06/2009 |
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Annual
Sales |
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1,800 |
1,712 |
1,490 |
1,709 |
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Recur.
Profit |
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20 |
17 |
44 |
47 |
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Net
Profit |
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10 |
9 |
7 |
1 |
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Total
Assets |
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558 |
643 |
594 |
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Current
Assets |
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471 |
511 |
477 |
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Current
Liabs |
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202 |
214 |
122 |
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Net
Worth |
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241 |
233 |
228 |
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Capital,
Paid-Up |
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36 |
36 |
36 |
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Div.P.Share(¥) |
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25.00 |
25.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.14 |
14.90 |
-12.81 |
-10.01 |
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Current Ratio |
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.. |
233.17 |
238.79 |
390.98 |
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N.Worth Ratio |
.. |
43.19 |
36.24 |
38.38 |
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R.Profit/Sales |
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1.11 |
0.99 |
2.95 |
2.75 |
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N.Profit/Sales |
0.56 |
0.53 |
0.47 |
0.06 |
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Return On Equity |
.. |
3.73 |
3.00 |
0.44 |
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Notes:
Forecast (or estimated) figures for the 30/06/2012 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.