MIRA INFORM REPORT

 

 

Report Date :

29.05.2012.

 

IDENTIFICATION DETAILS

 

Name :

DAIEI PAPERS INTERNATIONAL CORPORATION 

 

 

Registered Office :

6-24 Akashicho Chuoku Tokyo 104-0044

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

April 2002

 

 

Com. Reg. No.:

(Tokyo-Chuoku) 078028

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of pulp & paper

 

 

No. of Employees :

46

 

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

 

DAIEI PAPERS INTERNATIONAL CORPORATION

 

 

REGD NAME

 

KK Daiei Papers International Corporation

 

 

MAIN OFFICE

 

6-24 Akashicho Chuoku Tokyo 104-0044 JAPAN　

Tel: 03-5550-7397     Fax: 03-5550-7382

 

URL:                 http://www.dpic-jp.com/

E-mail:                         info@dpic-jp.com             

 

 

ACTIVITIES

 

Import, export, wholesale of pulp & paper

 

 

BRANCHES

 

Osaka

 

 

OVERSEAS

 

USA, Brazil, Hong Kong, Taipei, Singapore, China, India, Australia, Philippines, Thailand, Malaysia, UAE

 

 

OFFICER(S)

 

TAKAO TOMIOKA, PRES                      Mitsuru Suzuki, ch

Yasuo Akamatsu, v ch               Hidehiro Adachi, mgn dir            

 

Yen Amount:     In million Yen, unless otherwise stated

SUMMARY

 

FINANCES        FAIR                             A/SALES          Yen 34,445 M

PAYMENTS No Complaints   CAPITAL           Yen 450 M

TREND SLOW                          WORTH            Yen 935 M

STARTED         2002                             EMPLOYES      46

                                   

                                   

COMMENT

 

TRADING FIRM SPECIALIZING IN PULP & PAPER, OWNED BY KOKUSAI PULP & PAPER led 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS

           

The subject company was established on the basis of an international trading division separated from Kokusai Pulp & Paper Ltd, wholesaler of pulp & paper, at the caption address (See REGISTRATION).  This is a trading firm for import, export and wholesale of printing paper, newsprint, packaging board, plastic film, pulp & paper, other.  Have 12 overseas offices/sub offices to expand overseas operations. 

 

 

FINANCIAL INFORMATION

 

The sales volume for Dec 2011 fiscal term amounted to Yen 34,445 million, a 19% down from Yen 42,527 million in the previous term.  Paper shipment volume declined due to damage of plants by the Earthquake.  Exports decreased.  Exports were further hurt by the high Yen, reducing revenues & profits in Yen terms.  Sales of printing paper declined.  The operations plunged into the red to register Yen 59 million recurring loss and Yen 25 million net losses, respectively, compared with Yen 212 million recurring profit and Yen 280 million net profit, respectively, a year ago.

 

For the current term ending Dec 2012 the operations are expected to come back to profitability to post Yen 100 million recurring profit and Yen 100 million net profit, respectively, on a 2% rise in turnover, to Yen 35,000 million.

 

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

 

 

REGISTRATION

 

Date Registered:  Apr 2002

Regd No.:          (Tokyo-Chuoku) 078028

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　36,000 shares

Issued:             　9,000 shares

Sum:                　Yen 450 million

Major shareholders (%): Kokusai Pulp & Paper Ltd* (100)

 

*.. Wholesaler of pulp & paper, at the caption address, founded 1924, capital Yen 3,442 million, sales Yen 340,503 million, operating profit Yen 1,812 million, recurring profit Yen 2,152 million, net profit Yen 1,368 million, total assets Yen 177,659 million, net worth Yen 30,574 million, employees 899, pres Yasuo Akamatsu

Consolidated Financials are attached (See SUPPLEMENTS)

           

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales pulp & paper, printing machines (--100%).

 

(Handling items):

 

Printing & writing paper: newsprint, telephone directory paper, drawing paper, coated & uncoated paper & boards;

 

Packaging Paper: packaging paper & boards, container boards;

 

Plastic Film: PET, PVC, water soluble films, metalized PET;

 

Raw Materials: pulp & paper;

 

Machinery: offset printing machine, corrugated machines, labeling machines, other.

 

Clients: [Mfrs, wholesalers] Exports to Daiei Australia, Daiei Papers Hong Kong, Daiei Papers Singapore, Daiei Papers USA, other.

Domestically, Kokusai Pulp & Paper, Nippon Paper-Pak Co, other           

No. of accounts: Unavailable

            Domestic areas of activities: Nationwide

 

Suppliers [Mfrs, wholesalers] Oji Paper, Nippon Paper Group Inc, Chuetsu Pulp & Paper, Asahi Kasei Corp, Mitsubishi Heavy Ind, April Fine Papers, Oji Tac Co, Stora Enso Japan, UPM Japan, Stora Enso Japan, other.

 

Payment record: No Complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are owned by the parent, Kokusai Pulp & Paper, and maintained satisfactorily.

 

Bank References:

Mizuho Corporate Bank (Ohtemachi)

SMBC (Kyobashi)

Relations: Satisfactory

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

35,000

34,445

42,527

31,005

Recur. Profit

　

100

-59

212

408

Net Profit

　

100

-25

280

-1,546

Total Assets

　

　

10,878

12,096

10,358

Current Assets

　

　

7,675

8,623

7,334

Current Liabs

　

　

8,275

9,098

8,913

Net Worth

　

　

953

997

-615

Capital, Paid-Up

　

　

450

450

450

Div.P.Share(¥)

　

　

　

　

　

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

1.61

-19.00

37.16

-36.59

    Current Ratio

 

..

92.75

94.78

82.28

    N.Worth Ratio

..

8.76

8.24

-5.94

    R.Profit/Sales

 

0.29

-0.17

0.50

1.32

    N.Profit/Sales

0.29

-0.07

0.66

-4.99

    Return On Equity

..

-2.62

28.08

..

 

Notes: Forecast (or estimated) figures for the 31/12/2012 fiscal term

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, KOKUSAI PULP & PAPER LTD

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

340,503

351,981

 

  Cost of Sales

321,103

332,219

 

      GROSS PROFIT

19,400

19,761

 

  Selling & Adm Costs

17,588

17,643

 

      OPERATING PROFIT

1,812

2,118

 

  Non-Operating P/L

340

338

 

      RECURRING PROFIT

2,152

2,456

　

      NET PROFIT

1,368

763

BALANCE SHEET

 

 

 

 

  Cash

　

2,191

4,698

 

  Receivables

 

110,550

108,062

 

  Inventory

 

16,101

14,221

 

  Securities, Marketable

　

　

 

  Other Current Assets

2,578

3,071

 

      TOTAL CURRENT ASSETS

131,420

130,052

 

  Property & Equipment

27,036

26,239

 

  Intangibles

 

209

260

 

  Investments, Other Fixed Assets

18,994

15,827

 

      TOTAL ASSETS

177,659

172,378

 

  Payables

 

84,719

83,732

 

  Short-Term Bank Loans

33,188

29,952

 

　

 

　

　

 

  Other Current Liabs

10,620

9,452

 

      TOTAL CURRENT LIABS

128,527

123,136

 

  Debentures

 

　

　

 

  Long-Term Bank Loans

12,472

14,000

 

  Reserve for Retirement Allw

313

299

 

  Other Debts

　

5,773

5,550

 

      TOTAL LIABILITIES

147,085

142,985

 

      MINORITY INTERESTS

 

 

 

Common stock

3,442

3,442

 

Additional paid-in capital

7,752

7,752

 

Retained earnings

22,896

21,928

 

Evaluation p/l on investments/securities

(2,041)

(2,311)

 

Others

 

(766)

(709)

 

Treasury stock, at cost

(709)

(709)

 

      TOTAL S/HOLDERS` EQUITY

30,574

29,393

　

      TOTAL EQUITIES

177,659

172,378

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

575

-450

 

Cash Flows from Investment Activities

-3,289

-235

 

Cash Flows from Financing Activities

1,166

1,376

　

Cash, Bank Deposits at the Term End

　

2,157

3,661

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

30,574

29,393

 

 

Current Ratio (%)

102.25

105.62

 

 

Net Worth Ratio (%)

17.21

17.05

 

 

Recurring Profit Ratio (%)

0.63

0.70

 

 

Net Profit Ratio (%)

0.40

0.22

 

 

Return On Equity (%)

4.47

2.60

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.26

UK Pound

1

Rs.86.80

Euro

1

Rs.69.63

 

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.