MIRA INFORM REPORT

 

 

Report Date :

10.05.2012

 

IDENTIFICATION DETAILS

 

Name :

MINO CORPORATION

 

 

Registered Office :

1-77 Jinmucho Yao City Osaka-Pref 581-0067

 

 

Country :

Japan

 

 

Financials (as on) :

31.08.2011

 

 

Date of Incorporation :

October 1971

 

 

Com. Reg. No.:

(Osaka-Yao) 020225

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of textile machine parts, components, accessories

 

 

No. of Employees :

50

 

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

 

MINO CORPORATION

 

 

REGD NAME 

 

KK Mino Seisakusho

 

 

MAIN OFFICE

 

1-77 Jinmucho Yao City Osaka-Pref 581-0067

Tel: 072-922-1688    

Fax: 072-922-6311

                                               

URL:                 http://www.age.ne.jp

E-Mail address:            minoco@age.ne.jp

 

 

ACTIVITIES

 

Mfg of textile machine parts, components, accessories

 

 

BRANCHES

 

Yao

 

 

FACTORIES

 

At the caption address, Yao

 

 

OFFICERS

 

NAOTSUGU OOTOKO, PRES

Toshiko Ootoko, rep dir

Atsushi Ootoko, dir                   

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    R/WEAK                       A/SALES          Yen 470 M

PAYMENTS      No Complaints          CAPITAL           Yen 50 M

TREND             SLOW                          WORTH            Yen 249 M

STARTED                     1971                             EMPLOYES      50

 

 

COMMENT

 

MFR SPECIALIZING IN TEXTILE MACHINERY PARTS & COMPONENTS.

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by father of Naotsugu Ootoko in order to make most of his experience in the subject line of business.  Naotsugu assumed the pres office in July 1994.  This is a family-based mfr, owned and operated by the Ootoko family, specializing in mfg textile machine parts, components and accessories.  Aluminum & metal drums are the mainline production.  Clients include textile mills, and other makers.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Aug/2011 fiscal term amounted to Yen 470 million, a 4% up from Yen 450 million in the previous term.  Demand increased.  Exports to China were robust.  The net profit was posted at Yen 15 million, similarly in the previous term.  High Yen ate into profits in Yen terms.

 

For the current term ending Aug 2012 the net profit is projected at Yen 15 million, on a 3% rise in turnover, to Yen 485 million.  Exports continue increasing, says the firm.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 8.4 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Oct 1971

Regd No.:         (Osaka-Yao) 020225

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         400,000 shares

Issued:                100,000 shares

Sum:                   Yen 50 million

 

Major shareholders (%): Naotsugu Ootoko (100)

 

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

 

 

OPERATION

           

Activities: Manufactures textile machine parts, components & accessories (aluminum & metal drums as mainline) (--100%).

 

Clients: [Mfrs, wholesalers] Murata Machinery, Shimadz Corp, Nisshinbo Inc, Mitsubishi Corp, Omikenshi Corp, Howa Machinery Ltd, other

Exports to: USA, Mexico, Pakistan, Korea, Taiwan, China, Indonesia, other.

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Daimaru Kogyo KK, Eiwa Metal Co, Furukawa Chuzosho, other

 

Payment record: No Complaints

 

Location: Business area in Yao City, Osaka-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Osaka Higashi Shinkin Bank (H/O)

Mizuho Bank (Higashi-Osaka)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/08/2012

31/08/2011

31/08/2010

31/08/2009

Annual Sales

　

485

470

450

450

Recur. Profit

　

　

　

　

　

Net Profit

　

15

15

15

18

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

249

234

219

Capital, Paid-Up

　

　

50

50

50

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.19

4.44

0.00

-25.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

3.09

3.19

3.33

4.00

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/08/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.46

UK Pound

1

Rs.86.27

Euro

1

Rs.69.40

 

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.