MIRA INFORM REPORT

 

 

Report Date :

03.05.2012

 

IDENTIFICATION DETAILS

 

Name :

KADOWAKI COLOR WORKS, KK

 

 

Registered Office :

2-17-30 Komaoka Tsurumiku Yokohama 230-0071

 

 

Country :

Japan

 

 

Financials (as on) :

31.10.2011

 

 

Date of Incorporation :

November 1964

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Powder Coating Works

 

 

No. of Employees :

35

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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)

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

 

KADOWAKI COLOR WORKS, KK

 

 

REGD NAME

 

KK Kadowaki Color Works

 

 

MAIN OFFICE

 

2-17-30 Komaoka Tsurumiku Yokohama 230-0071 JAPAN

Tel: 045-572-1622      Fax: 045-572-1097

                                               

URL:                             http://www.kadowakicoating.com

E-Mail address:            powder@kadowakicoating.com

 

 

ACTIVITIES  

 

Powder coating works

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address (2)

 

 

OFFICERS

 

MASAKI KADOWAKI, PRES

Masao Kadowaki, ch

Maki Kadowaki, dir                                                        

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY    

 

FINANCES        R/WEAK           A/SALES          Yen 607 M

PAYMENTS      REGULAR         CAPITAL           Yen 10 M

TREND UP                    WORTH            Yen 32 M

STARTED         1964                 EMPLOYES      35

 

 

COMMENT    

 

POWDER COATING WORKS.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: JPY 3,000,000.00.

 

 

HIGHLIGHTS

           

The subject company was established by Masao Kadowaki in order to make most of his experience in the subject line of business.  Masaki is his son.  This is a family-based specialized powder coating works company.  Owned and operated by the Kadowaki family.  Clients include major building firms, mfrs, other, centering in greater-Tokyo region.

 

 

FINANCIAL INFORMATION

           

The sales volume for Oct/2011 fiscal term amounted to Yen 607 million, a 19% up from Yen 508 million in the previous term.  Economic & mfg activities recovered from the global economic downturn the previous year.  The recurring profit was posted at Yen 6 million and the net profit at Yen 5 million, respectively, compared with Yen 1 million recurring profit and yen 1 million net profit, respectively, a year ago.

 

For the current term ending Oct 2012 the recurring profit is projected at Yen 10 million and the net profit at Yen 7 million, respectively, on a 7% rise in turnover, to Yen 650 million.  Business is seen expanding steadily.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  The proposed amount, however, is considered TOO HIGH from the recent financial status. 

 

 

REGISTRATION

 

Date Registered:  Nov 1964

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:             20,000 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Masaki Kadowaki (49), Maki Kadowaki (35), Mitsuyo Kadowaki (16)

No. of shareholders: 3

 

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

 

 

OPERATION

           

Activities: Powder coating works (100%)

 

Clients: [Mfrs, wholesalers] Amano Corp, Koito Electric Works, SPC Electronics Corp, Ryoden Shonan Electronics Corp, Shinpo Electronics Co, other

 

No. of accounts: 300

 

Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Tiger Dry Rack Japan, Fuji Kagaku Toryo (Chemical coating), San-Oh Co, Yokohama Chemicals Co, other

 

Payment record: Regular

 

Location: Business area in Yokohama.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Jonan Shinkin Bank (Tsunashima)

Resona Bank (Kawasaki)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/10/2012

31/10/2011

31/10/2010

31/10/2009

Annual Sales

　

650

607

508

405

Recur. Profit

　

10

6

1

　

Net Profit

　

7

5

1

-33

Total Assets

　

　

559

521

432

Current Assets

　

　

335

235

　

Current Liabs

　

　

168

151

　

Net Worth

　

　

32

27

26

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

7.08

19.49

25.43

..

    Current Ratio

 

..

199.40

155.63

..

    N.Worth Ratio

..

5.72

5.18

6.02

    R.Profit/Sales

 

1.54

0.99

0.20

..

    N.Profit/Sales

1.08

0.82

0.20

-8.15

    Return On Equity

..

15.63

3.70

-126.92

 

Notes: Forecast (or estimated) figures for the 31/10/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.93

UK Pound

1

Rs.85.85

Euro

1

Rs.69.94

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.