MIRA INFORM REPORT

 

 

Report Date :

30.10.2012

 

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)

(Breakdown of Tokyo Offices): Chuoku (near International Airport Bus Terminal), Edogawaku, Suginamiku (--residential areas); Ohtaku (Flower markets, stores, other); Toda (Saitama) (the only branch office in Saitama-Pref)

 

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.53.81

UK Pound

1

Rs.86.52

Euro

1

Rs.69.50

 

 

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%)

 

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.