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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
FLAIR NAGAO INC |
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Registered Office : |
4010 Nakatsu Aikawamachi Aikohgun Kanagawa-Pref 243-0303 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
June 1949 |
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Com. Reg. No.: |
0210-01-021797 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Heat Exchangers, Air Dryers |
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No. of Employees : |
130 |
RATING & COMMENTS
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MIRAs 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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
FLAIR NAGAO INC
REGD NAME: Flair
Nagao KK
MAIN OFFICE: 4010
Nakatsu Aikawamachi Aikohgun Kanagawa-Pref 243-0303
Tel:
0462-285-0487 Fax: 046-285-5011
URL: http://www.flair-nagao.co.jp
E-Mail address: sales@flair-nagao.co.jp
Mfg of heat
exchangers, air dryers
Tokyo
At the caption
address
GENICHI NAGAO,
PRES Jiro Imaeda, dir
Nagamitsu
Taketani, dir Ichiro
Kusayanagi, dir
Hirotake Ohno, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,227 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 69 M
TREND UP WORTH Yen 386 M
STARTED 1949 EMPLOYES 130
MFR OF HEAT EXCHANGERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$15,000 / O/A 60 DAYS.
The subject company was established
originally as KK Nagao Seisakusho for making automobile parts. In Oct 2004, the subject merged with Flair Japan
Inc and renamed as captioned. This is a
specialized mfr of heat exchangers, air dryers, other. Goods are exported.
The sales volume for Mar/2011 fiscal
term amounted to Yen 3,227 million, a 31% up from Yen 2,468 million in the
previous term. Exports were robust,
particularly into China and other s/E Asian countries. The recurring profit was posted at Yen 24
million and the net profit at Yen 18 million, respectively, compared with Yen
10 million recurring profit and Yen 7 million net profit, respectively, a year
ago.
For the term that ended Mar 2012 the
recurring profit was projected at Yen 25 million and the net profit at Yen 20
million, respectively, on a 2% rise in turnover, to 3,300 million. Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements. The proposed amount for 60 days
terms is considered well within the firms financial capacities.
Date Registered: Jun 1949
Regd No.: 0210-01-021797
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.9 million shares
Issued: 980,040 shares
Sum: Yen 49.02 million
Major
shareholders (%): Employees S/Holding Assn (53), Genichi Nagao (37),
Mitsue Nagao (17)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
heat exchangers, air dryers, air-conditioners parts & components, freezers,
other (--100%)
Clients: [Mfrs, wholesalers]
Hitachi Appliance, Toshiba Carrie Engineering, Hitachi Ltd, Hitachi Industrial
Systems, Hitachi Medico, Hitachi-Kucho SE Ltd, IHI Compressor & Machinery
Co, Mitsui Seiki Kogyo, Toyo Engineering Works, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Appliance, Hitachi High Technologies, Hitachi Industrial
Systems, Japan Light Metal, Panasonic Industry Sales, Toshiba Carrier
Engineering, other
Payment record: No Complaints
Location: Business area in
Aikogun, Kanagawa-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Shoko Chukin Bank
(Yokohama-Nishiguchi)
Jonan Shinkin Bank
(Atsugi)
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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3,300 |
3,227 |
2,468 |
3,384 |
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Recur.
Profit |
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25 |
24 |
10 |
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Net
Profit |
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20 |
18 |
7 |
7 |
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Total
Assets |
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3,046 |
3,086 |
3,042 |
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Current
Assets |
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1,538 |
1,506 |
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Current
Liabs |
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|
632 |
464 |
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Net
Worth |
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|
386 |
371 |
366 |
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Capital,
Paid-Up |
|
|
69 |
69 |
69 |
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Div.P.Share(₯) |
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|
9.00 |
9.00 |
9.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.26 |
30.75 |
-27.07 |
-0.47 |
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Current Ratio |
|
.. |
243.35 |
324.57 |
.. |
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N.Worth Ratio |
.. |
12.67 |
12.02 |
12.03 |
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R.Profit/Sales |
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0.76 |
0.74 |
0.41 |
.. |
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N.Profit/Sales |
0.61 |
0.56 |
0.28 |
0.21 |
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Return On Equity |
.. |
4.66 |
1.89 |
1.91 |
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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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
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|
1 |
Rs.86.42 |
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Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
-- |
This score serves as a reference to assess SCs 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.