Revised report
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Report Date : |
30.05.2012 |
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) : |
31.03.2012 |
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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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MIRA’s 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
Flair Nagao KK
4010 Nakatsu
Aikawamachi Aikohgun Kanagawa-Pref 243-0303 JAPAN
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
GEN’ICHI
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.
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: Yen69.02 million
Major shareholders (%): Employees’ S/Holding Assn (53),
Gen’ichi 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 |
|
3,300 |
3,227 |
2,468 |
3,384 |
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Recur.
Profit |
|
25 |
24 |
10 |
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Net
Profit |
|
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.58 |
|
UK Pound |
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.