MIRA INFORM REPORT

 

 

Report Date :

15.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SEKIYAMA CO LTD

 

 

Registered Office :

2-27 Shinkatanaike Chita City Aichi-Pref 478-0069

 

 

Country :

Japan

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

October 1976

 

 

Com. Reg. No.:

1800-01-094721

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of specialty steel, stainless steel, metal products, cutting saw

 

 

No. of Employees :

38

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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

 

SEKIYAMA CO LTD

 

 

REGD NAME 

 

KK Sekiyama

 

 

MAIN OFFICE

 

2-27 Shinkatanaike Chita City Aichi-Pref 478-0069 JAPAN

Tel: 0562-56-5929      Fax: 0562-56-5931

                                               

URL:                 http://www.sekiyama-8.co.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES

 

Mfg of specialty steel, stainless steel, metal products, cutting saw

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address, Kariya, Tobishima, Kasuga (--Aichi-Pref)

 

 

OFFICERS

 

SHIN’ICHI SEKIYAMA, PRES    

Yasuhiro Sekiyama, ch

Yoshiharu Nishihara, dir                                                                         

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 1,400 M

PAYMENTS No Complaints   CAPITAL           Yen 10 M

TREND SLOW                          WORTH            Yen 1,276 M

STARTED         1976                             EMPLOYES      38

 

 

COMMENT    

 

MFR OF STEEL, STAINLESS, METAL PRODUCTS, CUTTING SAW.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established by Yasuhiro Sekiyama in order to make most of his experience in the subject line of business.  Shin’ichi is his son, who took the pres office in Apr 2008.  This is a specialized mfr of steel, stainless steel, nonferrous metal products: sheet, plate, bar, tubing, strip, wire, cable, forging, casting, other.  Also makes cutting tools and band saws.  Goods are exported.  Clients include major heavy machinery mfrs, other makers, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Sept/2011 fiscal term amounted to Yen 1,342 million, a 4% up from Yen 1,342 million in the previous term.  Exports increased into China and other S/E Asian countries.  The recurring profit was posted at Yen 122 million and the net profit at Yen 83 million, respectively, compared with Yen 113 million net profit a year ago.  Foreign currency exchange losses were incurred.

 

For the current term ending Sept 2012 the recurring profit is projected at Yen 150 million and the net profit at Yen 85 million, respectively, on a 4% rise in turnover, to Yen 145 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Oct 1976

Regd No.:         1800-01-094721

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         80,000 shares

Issued:             20,000 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Shin’ichi Sekiyama (40), Yasuhiro Sekiyama (35), Kazuyo Sekiyama (25)

 

No. of shareholders: 3

 

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

 

 

OPERATION

           

Activities: Manufactures steel, stainless steel, nonferrous metal products, cutting tools, cutting saw, NC lathes, machining center, surface treatment, molds & dyes, jigs, other (--100%)

 

(Materials): aluminum, stainless steel, titanium, carbon steel, nickel, nonferrous metals, other;

 

(Products): sheet, plate, bar, tubes, strip, wire, cable shim, forging , casting, spring, cutting tools, band saw, NC lathes, machining center, other.

 

Clients: [Mfrs, wholesalers] Mitsubishi Heavy Ind (35%), Caterpillar Japan, Asahi Forge, Tokai Carbon, Musashi Seimitsu Ind, MHI Aerospace Logetem, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Nittetsu Steel Trading, Yamaichi Special Steel, Yohkoh Bussan Co, Sanyo Special Steel, Hi-Tech Enterprise Inc, Fujikoshi Corp, other.

 

Payment record: No Complaints

 

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

 

Bank References:

Mie Bank (Narumi)

Aichi Bank (Chita)

Relations: Satisfactory

 

FINANCES

 (In Million Yen)

 

Terms Ending:

　

30/09/2012

30/09/2011

30/09/2010

30/09/2009

Annual Sales

　

1,450

1,400

1,342

1,391

Recur. Profit

　

130

122

　

　

Net Profit

　

85

83

113

42

Total Assets

　

　

1,645

N/A

N/A

Net Worth

　

　

1,276

1,193

1,080

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.57

4.32

-3.52

-39.52

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

77.57

..

..

    N.Profit/Sales

5.86

5.93

8.42

3.02

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 30/09/2012 fiscal term.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.71

UK Pound

1

Rs.86.34

Euro

1

Rs.69.23

 

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.