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Dun & Bradstreet
5A1 Rating |
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To whom it may concern:
Nikken Inc. was incorporated in California during 1989
and is a subsidiary of a Japanese company doing business
since 1975. At fiscal year, ended Feb. 28, 1998, Nikken
Inc. received a 5A1 Dun & Bradstreet rating; which is
the highest rating assigned to any company. This rating
is assigned based on equity and strong financial ratios
combined with a prompt payment record. Cash is more than
adequate to retire total liabilities which consist only
of accounts payable and accruals. The current ratio 2.45
to 1, indicates an abundance of working capital to fund
the company's operating cycle. The operating cycle is
also enhanced by an inventory turnover of five times
annually. An equity position of $128,220,000 at Feb. 28,
1999, has been built through retained earnings excluding
initial capital stock of $3,500,000. Capital
requirements which include global expansion;
construction of a worldwide headquarters at Irvine, CA;
and extensive research and development have been funded
through retained profits. The company has no borrowings
nor investor contributions to fund capital requirements.
Total liabilities to net equity were .34 to 1 at fiscal
year ended Feb. 28, 1999.
Never have I seen in my 24 years as a Sr. Business
Consultant for Dun & Bradstreet, a company build such a
strong financial base in such a short period of time.
During this tenure I have read mission statements on
board room walls all over the region that all give lip
service to the customer. Nikken's mission statement
describes the five pillars of success as a healthy mind,
body, family, society, and finances. This statement
provides clear balance and focus to fulfill the
company's 100 year business plan.
Sincerely,
Darrell Petersen
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