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Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SEIWA
CORPORATION |
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Registered Office : |
2139-5 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
1969 |
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Com. Reg. No.: |
1200-01-124741
(Osaka-Yodogawaku) |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg
of gear cutting machines |
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No. of Employees : |
63 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Usually correct |
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Litigation : |
Clear |
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 30, 2011
|
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 |
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Restricted |
C2 |
|
Off-credit |
D |
SEIWA
CORPORATION
REGD NAME: Seiwa Tekko KK
MAIN OFFICE: 2139-5 Kaminaoe Hikawacho Izumo City Shimane-Pref
699-0624 JAPAN
Tel: 0853-72-0306 Fax: 0853-72-0343
*.. The given address is
its Osaka Branch Office
URL: http://www.segtec.jp
E-Mail
address: (thru the URL)
Mfg of
gear cutting machines
Tokyo,
Osaka (as given)
China
At the
caption address
TOSHIHIKO
TATSU, PRES Tetsuo Tanabe, s/mgn
dir
Kenji
Kawamoto, dir Yoshinobu
Sawamura, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES R/WEAK A/SALES Yen 1,169 M
PAYMENTS REGULAR CAPITAL Yen 92 M
TREND SLOW WORTH Yen 189 M
STARTED 1969 EMPLOYES 63
MFR OF GEAR CUTTING MACHINES.
FINANCIAL SITUATION CONSIDERED RATHER
WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by father of Toshihiko
Tatsu in order to make most of his experience in the subject line of
business. This is a specialized mfr of
various gear cutting machines, tool grinder machines, other (See OPERATION). Goods are exported. Clients include specialized machine mfrs,
other.
The sales
volume for Mar/2011 fiscal term amounted to Yen 1,169 million, a 36% recovery
from Yen 862 million in the previous term.
Market recovered substantially from the global economic downturn in the
last term. Exports were robust. The operations came back to profitability to
post Yen 16 million recurring profit and Yen 5 million net profit,
respectively, compared with Yen 6 million recurring loss and Yen 6 million net
losses, respectively, a year ago.
For the
term that ended Mar 2012 the recurring profit was projected at Yen 20 million and
the net profit at Yen 10 million, respectively, on a 7% rise in turnover, to
Yen 1,250 million. Final results are yet
to be released.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 11.5 million, on 30 days normal terms.
Date Registered: Jun
1969
Regd No.: 1200-01-124741
(Osaka-Yodogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 740,000 shares
Issued:
185,000 shares
Sum: Yen
92.5 million
Major shareholders (%): Toshihiko Tatsu (95), other
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures various gear cutting
machines: gear hobbling machines, gear grinding machines, gear honing machines,
tool grinder machines, hob sharpener, other (--100%)
Clients: [Mfrs, wholesalers] Hanjin Trading (Korea)
(40%), Seiwa Nanking (China) (25%), Fuji Co (25%), Toyama Kikai, Mitsui Bussan
Machine Tech, Ohno Seiko Co, Fuji Machine Mfg Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aoi Seiki Co,
Fanuc Mechatronix, OM Metal Ind, Tamura Giken Kogyo, Suda Kosakusho, Shigiya
Machinery Works, Hama Electric Ind, Fuji Electric Co, other
Payment record: Regular
Location:
Business area in Izumo City, Shimane-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Sanin
Godo Bank (Naoe)
Shoko
Chukin Bank (Matsue)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual Sales |
|
1,250 |
1,169 |
862 |
1,444 |
|
Recur. Profit |
|
20 |
16 |
-6 |
|
|
Net Profit |
|
10 |
5 |
-6 |
21 |
|
Total Assets |
|
|
1,369 |
1,381 |
1,294 |
|
Current Assets |
|
|
796 |
785 |
|
|
Current Liabs |
|
|
258 |
161 |
|
|
Net Worth |
|
|
189 |
184 |
191 |
|
Capital, Paid-Up |
|
|
92 |
92 |
92 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.93 |
35.61 |
-40.30 |
-11.41 |
|
|
Current Ratio |
|
.. |
308.53 |
487.58 |
.. |
|
N.Worth Ratio |
.. |
13.81 |
13.32 |
14.76 |
|
|
R.Profit/Sales |
|
1.60 |
1.37 |
-0.70 |
.. |
|
N.Profit/Sales |
0.80 |
0.43 |
-0.70 |
1.45 |
|
|
Return On Equity |
.. |
2.65 |
-3.26 |
10.99 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.51 |
|
|
1 |
Rs.85.49 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.