MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOYOTSU AUTO SERVICES CO LTD |
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Registered Office : |
Chitose Bldg 3F, 4-26-13 Meieki Nakamuraku Nagoya 450-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
September 1949 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export, Wholesale of Automotive Parts and Components |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
YEN 32.4 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
TOYOTSU AUTO
SERVICES CO LTD
REGD NAME: Toyotsu Auto Services KK
MAIN OFFICE: Chitose Bldg 3F, 4-26-13 Meieki Nakamuraku
Nagoya 450-0002 JAPAN
Tel:
052-618-7500 Fax: 052-589-3030
URL: http://www.toyotsuauto.com/
E-Mail address:info@toyotsuauto.com
ACTIVITIES
Export, wholesale of automotive parts & components
BRANCHES
Nagoya (2), Kanazawa
OFFICER(S)
HIROSHI MORISAKI, PRES
Masahiro Sakamoto, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,424 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 152 M
STARTED 1949 EMPLOYES 59
COMMENT
EXPORTER AND WHOLESALER OF AUTOMOTIVE PARTS & COMPONENTS OF TOYOTA MOTORS, WHOLLY OWNED BY TOYOTA TSUSHO CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 32.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by local entrepreneurs for exporting and wholesaling automotive parts & components. In 2001, became a wholly owned subsidiary of Toyota Tsusho Corp. This is a trader for export and wholesale of automotive parts & components of Toyo Motors. Goods are exported to Toyota Motors factories in Europe, Asia, USA, other. Also handles used forklifts & cars.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 3,424 million, a 13% up from Yen 3,031 million in the previous term. Exports rose backed up by robust car production by the parent automaker. The net profit was posted at 32 million, compared with Yen 35 million a year ago. Operation expenses rose.
For the term that ended Mar 2008 the net profit was projected at Yen 35 million, on a 5% rise in turnover, to Yen 3,600 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 32.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept 1949
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 16 million shares
Issued: 400,000 shares
Sum: Yen 20 million
Major shareholders (%)
Toyota Tsusho Corp*(100)
* Sole trading firm in Toyota group, specializing in automotive-related products, steel, machinery & chemical products, exporting Toyota Motor cars to worldwide, founded 1948, listed Tokyo, Nagoya S/E’s, sales Yen 7,000,000 million, recurring profit Yen 142,969 million, net profit Yen 67,506 million, total assets Yen 2,603,206 million, net worth Yen 585,875 million, employees 22,945, pres Junzo Shimizu
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports, imports and wholesale of Toyota Motor car parts & components to Worldwide factories, used forklifts, used, cars, other (--100%).
Client
[Mfrs, wholesalers, car dealers] GYK Machinery, AR Service, other.
Exports to Russia, Europe, Greece, other to Toyota Auto makers.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Denso Corp, Mitsubishi Fuso Truck & Bus, Toyota Tsusho
Europe, other.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Takiko)
MSBC (Kamimaezu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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3,600 |
3,424 |
3,031 |
2,415 |
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Recur.
Profit |
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Net
Profit |
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35 |
32 |
35 |
17 |
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Total
Assets |
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984 |
840 |
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Current
Assets |
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895 |
749 |
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Current
Liabs |
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810 |
677 |
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Net
Worth |
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152 |
146 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.14 |
12.97 |
25.51 |
0.63 |
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Current Ratio |
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.. |
110.49 |
110.64 |
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N.Worth Ratio |
.. |
15.45 |
17.38 |
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R.Profit/Sales |
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.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.97 |
0.93 |
1.15 |
0.70 |
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Return On Equity |
.. |
21.05 |
23.97 |
.. |
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Notes: Forecast (or estimated) figures for the 31/03/2008 fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)