MIRA INFORM REPORT
|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL ENGEISHA CO LTD |
|
|
Registered Office : |
193-2 Sabo Ibaragi Osaka-Pref 568-0095 |
|
|
|
|
|
|
Country : |
Japan |
|
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
|
|
Date of Incorporation : |
February 1974 |
|
|
|
|
|
|
Com. Reg. No.: |
1209-01-002294 (Osaka-Ibaragi) |
|
|
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
|
|
Line of Business : |
Rental of foliage potted plants & flowers, gardening supplies, gardening works |
|
|
|
|
|
|
No. of Employees : |
170 |
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 : |
Clear |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War
II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s that
required a protracted period of time for firms to reduce excess debt, capital,
and labor. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2011 stood as the fourth-largest economy in the
world after second-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2011. A sharp downturn in business investment
and global demand for Japan's exports in late 2008 pushed Japan further into
recession. Government stimulus spending helped the economy recover in late 2009
and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude
earthquake in March disrupted manufacturing. Electricity supplies remain tight
because Japan has temporarily shut down almost all of its nuclear power plants
after the Fukushima Daiichi nuclear reactors were crippled by the earthquake
and resulting tsunami. Estimates of the direct costs of the damage - rebuilding
homes, factories, and infrastructure - range from $235 billion to $310 billion,
and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has
proposed opening the agricultural and services sectors to greater foreign
competition and boosting exports through membership in the US-led Trans-Pacific
Partnership trade talks and by pursuing free-trade agreements with the EU and
others, but debate continues on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
Source : CIA
Company
name and address
UNIVERSAL ENGEISHA CO LTD
REGD NAME: KK
Universal Engeisha
MAIN OFFICE: 193-2
Sabo Ibaragi Osaka-Pref 568-0095 JAPAN
Tel: 072-649-2266
Fax: 072-649-1062
URL: http://www.uni-green.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Rental of foliage
potted plants & flowers, gardening supplies, gardening works
BRANCHES
Tokyo (5), Osaka,
Nagoya, Shiga, other (Tot 10)
OVERSEAS
Shanghai
(subsidiary)
FACTORIES
At the caption
address (nursery)
CHIEF
EXEC
TAKUMI MORISAKA,
PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,824 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 172 M
TREND UP WORTH Yen 4,411 M
STARTED 1974 EMPLOYES 170
COMMENT
RENTAL OF FOLIAGE POTTED PLANTS & FLOWERS
FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
Unit: In Million Yen
Forecast figures for the 30/06/2013 fiscal term.
HIGHLIGHTS
This is a rental provider of foliage potted
plants & flowers, established by Takumi Morisaka. It also offers gardening works,
landscaping works, gardening supplies, wholesales of flowers & plants,
other. Active in expanding business in
the greater-Tokyo region and around.
Listed on the JASDAQ in Apr 2012.
Eager about M&A. Clients are
government offices, municipal offices, business firms, other.
FINANCIAL
INFORMATION
The sales volume for Jun/2012 fiscal
term amounted to Yen 2,824 million, a 9.3% up from Yen 2,584 million in the
previous term. Opened additional
offices in Tokyo/Osaka and expanded clients.
By Divisions; Green business up 11.0% to Yen 2,392 million; Wholesaling
up 1.8% to Yen 257 million; Internet sales down 16.7% to Yen 57 million, due to
harder competition among the trade; Landscaping/gardening down 38.8% to Yen 3
million. The recurring profit was posted
at Yen 510 million and the net profit at Yen 194 million, respectively,
compared with Yen 434 million recurring profit and Yen 219 million net profit,
respectively, a year ago.
For the current term ending Jun 2013
the recurring profit is projected at Yen 541 million and the net profit at Yen
305 million, on an 8.5% rise in turnover, to Yen 3,065 million. Actively expanding into the greater-Tokyo
region.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Feb 1974
Regd
No.: 1209-01-002294
(Osaka-Ibaragi)
Legal Status: Limited Company (Kabushiki Kaisha
Authorized: 4
million shares
Issued: 1,256,200 shares
Sum: Yen 172 million
Major
shareholders (%): Takumi Morisaka (43.4), Sachiko Morisaka (14.0), Sonoko Ohtahara
(12.4), Employees’ S/Holding Assn (8.0), Yuko Morisaka (8.0), Universal Shoji
(5.3), Daiwa Lease (4.3), Takasho Co (0.9), Toho Leo (0.9), Sato Hanamise (0.4)
No.
of shareholders: 18
Listed on the S/Exchange (s) of: JASDAQ
Managements: Takumi Morisaka,
pres; Shigetaka Nakamura, dir; Masumi Nakabayashi, dir; Michihiro Nishikawa,
dir; Yoshio Kataoka, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies: Viva Industrial Arts, Aoyama Zoen
(Gardening) Co, HM Works, other.
OPERATION
Activities: Rental provider
of foliage potted plants & flowers (83%), wholesales flowers, plants,
seeds, others (9%), net shops (2%), landscaping, gardening, gardening tools
& supplies (5%).
Clients: Government
offices, municipal offices, business firms, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: Nursery, plant/flower growers, flower
markets, other
Payment record: No Complaints
Location: Business area in
Ibaragi City, Osaka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank
(Ibaragi)
Resona Bank
(Ibaragi)
Relations:
Satisfactory
FINANCES
(In Million
Yen)
|
FINANCES: (Consolidated
in million yen) |
||||||
|
|
|
Terms Ending: |
30/06/2012 |
30/06/2011 |
||
|
INCOME STATEMENT |
||||||
|
Annual Sales |
|
2,824 |
2,584 |
|||
|
Cost of Sales |
1,040 |
907 |
||||
|
GROSS PROFIT |
1,784 |
1,677 |
||||
|
Selling & Adm Costs |
1,299 |
1,276 |
||||
|
OPERATING PROFIT |
484 |
400 |
||||
|
Non-Operating P/L |
26 |
34 |
||||
|
RECURRING PROFIT |
510 |
434 |
||||
|
|
NET PROFIT |
194 |
219 |
|||
|
BALANCE SHEET |
||||||
|
Cash |
|
1,563 |
1,058 |
|||
|
Receivables |
321 |
271 |
||||
|
Inventory |
99 |
98 |
||||
|
Securities, Marketable |
509 |
252 |
||||
|
Other Current Assets |
48 |
48 |
||||
|
TOTAL CURRENT ASSETS |
2,540 |
1,727 |
||||
|
Property & Equipment |
1,006 |
1,043 |
||||
|
Intangibles |
67 |
85 |
||||
|
Investments, Other Fixed Assets |
1,556 |
1,791 |
||||
|
TOTAL ASSETS |
5,169 |
4,646 |
||||
|
Payables |
79 |
64 |
||||
|
Short-Term Bank Loans |
|
|
||||
|
|
|
|
||||
|
Other Current Liabs |
283 |
205 |
||||
|
TOTAL CURRENT LIABS |
362 |
269 |
||||
|
Debentures |
|
|
||||
|
Long-Term Bank Loans |
|
|
||||
|
Reserve for Retirement Allw |
143 |
132 |
||||
|
Other Debts |
|
252 |
248 |
|||
|
TOTAL LIABILITIES |
757 |
649 |
||||
|
MINORITY INTERESTS |
||||||
|
Common
stock |
172 |
52 |
||||
|
Additional
paid-in capital |
122 |
1 |
||||
|
Retained
earnings |
4,118 |
3,945 |
||||
|
Evaluation
p/l on investments/securities |
(1) |
(1) |
||||
|
Others |
1,636 |
1,490 |
||||
|
Treasury
stock, at cost |
(1,636) |
(1,490) |
||||
|
TOTAL S/HOLDERS` EQUITY |
4,411 |
3,997 |
||||
|
|
TOTAL EQUITIES |
5,169 |
4,646 |
|||
|
CONSOLIDATED CASH FLOWS |
||||||
|
Terms ending: |
30/06/2012 |
30/06/2011 |
||||
|
Cash
Flows from Operating Activities |
|
403 |
242 |
|||
|
Cash
Flows from Investment Activities |
-227 |
101 |
||||
|
Cash
Flows from Financing Activities |
216 |
-14 |
||||
|
|
Cash,
Bank Deposits at the Term End |
|
982 |
589 |
||
|
ANALYTICAL RATIOS Terms ending: |
30/06/2012 |
30/06/2011 |
||||
|
Net
Worth (S/Holders' Equity) |
4,411 |
3,997 |
||||
|
Current
Ratio (%) |
701.66 |
642.01 |
||||
|
Net
Worth Ratio (%) |
85.34 |
86.03 |
||||
|
Recurring
Profit Ratio (%) |
18.06 |
16.80 |
||||
|
Net
Profit Ratio (%) |
6.87 |
8.48 |
||||
|
Return
On Equity (%) |
4.40 |
5.48 |
||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
|
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.