MIRA
INFORM REPORT
|
Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TOYOTOMI CO LTD |
|
|
|
|
Registered Office : |
5-17 Momozonocho Mizuhoku Nagoya 467-0855 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
November 1949 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of Kerosene Heaters, Air Conditioners, Air Cleaners |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
YEN 487.4 Million |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
TOYOTOMI CO LTD
REGD NAME: KK Toyotomi
MAIN OFFICE: 5-17 Momozonocho Mizuhoku Nagoya 467-0855
JAPAN
Tel:
052-822-1101 Fax: 052-824-7151
E-Mail address:info@toyotomi.jp
ACTIVITIES
Mfg of kerosene heaters, air conditioners, air cleaners
BRANCHES
Sapporo, Sendai, Tokyo, Shizuoka, Osaka, Hiroshima, Fukuoka, other (Tot
14)
OVERSEAS
Toyotomi USA Inc
FACTORY(IES)
At the caption address, Okazaki
OFFICER(S)
IZURU NAKAMURA, PRS
Takashi Asai, s/mgn dir
Tatemi Noguchi, mgn dir
Ken’ichi Tajitsu, mgn dir
Masaharu Kimoto, dir
Yukihiro Oguchi, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,500 M
PAYMENTS REGULAR CAPITAL Yen 157 M
TREND SLOW WORTH Yen 8,737 M
STARTED 1949 EMPLOYES 525
COMMENT
MFR OF KEROSENE HEATERS, AIR CONDITIONERS, AIR CLEANERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 487.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by K Nakamura in order to make most of his experience in the subject line of business. Izuru is the founder’s grandson. Specializes in mfg kerosene heaters as mainstay, laser heaters, oil-fired water heaters, portable air conditioners, air cleaners, other. Also handles lawn mowers, other gardening equipment. Has a subsidiary sales office in USA, Toyotomi USA Inc. The firm is affiliated to Toyota Tsusho Corp. Goods are exported.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 16,500 million, a 7% down from Yen 17,786 million in the previous term. Hit hard by exceptionally warm winter in the period. The operations dipped into the red to post Yen 498 million net losses for the term. Rising fuel oil prices also eroded profits.
For the term that ended Mar 2008 the net profit was projected at Yen 30 million, on a 6% rise in turnover, to Yen 17,500 million.
The financial situation is considered maintained FAIR and good for ORDINARY business
engagements. Max credit limit is estimated at Yen 487.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1949
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 12 million shares
Issued: 3.15 million shares
Sum: Yen 157.5 million
Major shareholders (%)
Enpuku*(27), Toyotomi Kiko (10), Toyota Tsusho Corp (8), Toyotomi Soft Kaihatsu (7), Izuru Nakamura (5)
* Holding company owned by Nakamura family
No. of shareholders: 82
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures kerosene heater, laser heater, oil-fired water heater, portable air conditioners, air cleaners, dryers, lawn mowers, other gardening tools (--100%).
Goods are exported
Clients
[Wholesalers, mfrs, chain stores] Toyota Tsusho Corp, Trusco Nakayama, Nafco Co, Yoshii Electric, Koizumi Seiki Corp, other.
Exports to Toyotomi USA Inc, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Toyota Tsusho Corp, Sumitomo Corp, Pro Steel Co, Toyoset Co, other.
Payment record
Regular
Location
Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
MUFG (Nagoya)
Ogaki Kyoritsu Bank (Nagoya)
Relations: Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
|
Annual
Sales |
|
17,500 |
16,500 |
17,786 |
19,490 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
30 |
-498 |
16 |
72 |
|
Total
Assets |
|
|
18,300 |
15,802 |
|
|
Current
Assets |
|
|
7,105 |
5,350 |
|
|
Current
Liabs |
|
|
4,996 |
3,905 |
|
|
Net
Worth |
|
|
8,737 |
8,902 |
|
|
Capital,
Paid-Up |
|
|
157 |
157 |
157 |
|
Div.P.Share(¥) |
|
|
0.00 |
5.00 |
5.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.06 |
-7.23 |
-8.74 |
14.42 |
|
|
Current Ratio |
|
.. |
142.21 |
137.00 |
.. |
|
N.Worth Ratio |
.. |
47.74 |
56.33 |
.. |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
0.17 |
-3.02 |
0.09 |
0.37 |
|
|
Return On Equity |
.. |
-5.70 |
0.18 |
.. |
|
Notes: Financials are disclosed in digested form as above.
Forecast (or estimated) figures for the 31/03/2008 fiscal term.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
|
UK Pound |
1 |
Rs.84.89 |
|
Euro |
1 |
Rs.68.07 |
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. |
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%)