MIRA
INFORM REPORT
|
Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
TMY CORPORATION |
|
|
|
|
Registered Office : |
3-20-15 Shirogane Showaku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
Oct 1947 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, export of automotive parts &
components |
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 |
|
Maximum Credit Limit : |
Yen 1344.6 millions |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
-- |
name
TMY CORPORATION
REGD NAME
Tatsumiya Kogyo KK
MAIN OFFICE
3-20-15 Shirogane
Showaku
Tel : 052-882-8501
Fax : 052-882-8852
*.. The given address
is its Overseas Division at: 2-4-51 Nakajima Nishiyodogawaku Osaka, as given
URL : http://www.tmy-net.co.jp
E-Mail address: tokatsu@tmy-net.co.jp
ACTIVITIES
Import, export of
automotive parts & components
BRANCHES
Domestic 36;
overseas 63
OFFICERS
Yoshiro Haji, ch OTOHIKO
AOKI, PRES
Miyoshi Haji, v
pres Shoji
Nagiri, s/mgn dir
Nobuo Miyata, mgn
dir Katsumi
Takahashi, mgn dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 47,909 M
PAYMENTS REGULAR CAPITAL Yen 150 M
TREND STEADY WORTH Yen
10,892 M
STARTED 1947 EMPLOYES 305
COMMENT
TRADING HOUSE SPECIALIZING IN AUTOMOTIVE PARTS & COMPONETS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 1,344.6 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company is a specialized trader of automotive parts & components such as suspension, clutches, brakes, other. Also handles special steel products. 36 branches domestic and 63 overseas cover the nationwide and worldwide operations. Business keeps growing on the back of robust automobile industry.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen
47,909 million, an 8% hike from Yen 44,202 million in the previous term. Exports into
For the current term ending Dec 2007 the net profit is projected at Yen 1,000 million, on a 2% rise in turnover, to Yen 49,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,344.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1947
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 1.2 million shares
Issued: 300,000 shares
Sum: Yen 150 million
Major shareholders (%): Otohiko Aoki (24.7), Yoshio Joh (10.7), Aichi Steel Corp (10), Ikuyo Joh (9)
No. of shareholders: 71
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales automotive parts
& components (--70%), special steel products (30%). Exports (25%)
Clients: [Car
dealers, wholesalers] Autobacks Seven, Aichi Steel Corp, ADL, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aichi Steel Corp, Nippon Micro Filter, Bando Chemical Ind, Sumitomo Corp, Aisin Seiki, other.
Payment record:
Regular
Location: Business area in
Bank References
MUFG (Nagoya-Chuo)
Resona Bank (
Relations:
Satisfactory.
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
|
|
Annual
Sales |
|
49,000 |
47,909 |
44,202 |
40,947 |
|
Recur.
Profit |
|
2,000 |
1,984 |
1,837 |
1,435 |
|
Net
Profit |
|
1,000 |
999 |
755 |
738 |
|
Total
Assets |
|
|
28,831 |
26,633 |
|
|
Current
Assets |
|
|
22,779 |
20,104 |
|
|
Current
Liabs |
|
|
16,219 |
14,253 |
|
|
Net
Worth |
|
|
10,892 |
9,984 |
|
|
Capital,
Paid-Up |
|
|
150 |
150 |
150 |
|
Div.P.Share(¥) |
|
|
10.00 |
10.00 |
10.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.28 |
8.39 |
7.95 |
4.57 |
|
|
Current Ratio |
|
.. |
140.45 |
141.05 |
.. |
|
N.Worth Ratio |
.. |
37.78 |
37.49 |
.. |
|
|
R.Profit/Sales |
|
4.08 |
4.14 |
4.16 |
3.50 |
|
N.Profit/Sales |
2.04 |
2.09 |
1.71 |
1.80 |
|
|
Return On Equity |
.. |
9.17 |
7.56 |
.. |
|
Note: Financials
are only partially disclosed.
Forecast (or
estimated) for the 31/12/2007 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)