MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TAJIMA INC
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Registered Office : |
1-25-1 Miyagi
Adachiku |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April
1952 |
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Com. Reg. No.: |
(Tokyo-Adachiku) 009674 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of PVC tiles, floorings, adhesives & associated supplies |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 240.7 Million |
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Status : |
Moderate |
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Payment
Behaviour : |
Regular |
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Litigation : |
---- |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name
TAJIMA INC
REGD
NAME
KK Tajima
MAIN
OFFICE
1-25-1 Miyagi
Adachiku
Tel:
03-3913-6161 Fax: 03-3913-2863
E-Mail address: info@tajima.co.jp
ACTIVITIES
Mfg of
PVC tiles, floorings, adhesives & associated supplies
BRANCHES
SHOWROOM
OVERSEAS
FACTORIES
At the
caption address, Tsukuba (
OFFICERS
TSUNEO
TAJIMA, PRES & CEO Yukio
Ishii, mgn dir
Munenori
Togawa, mgn dir Taku
Ooie, dir
Hideyuki
Nagata, dir Kunio
Higashi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,252 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
3,774 M
STARTED 1952 EMPLOYES 406
COMMENT
MFR SPECIALIZING IN PVC TILES & FLOORINGS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 240.7
MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by father of Tsuneo Tajima in order
to manufacture PVC tiles & floorings.
This is a leading specialized mfr of PVC floor tiles, carpet tiles and
other related goods, controlling about 30% market share in the specific business
line domestically. Products are also
designed for use in stores & restaurants.
Also manufactures adhesives, and other associated supplies for flooring
works. Has subsidiary in
FINANCIAL
INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 14,252
million, a 16% down from Yen 16,902 million in the previous term, as
substantially affected by the global economic downturn particularly in the
first half of the term. Housing &
construction slumped. Demand declined
substantially. The operations plunged
into the red to post Yen 558 million recurring loss and Yen 666 million net
losses, respectively, compared with Yen 230 million recurring profit and Yen 81
million net profit, respectively, a year ago.
For the term that ended Mar 2011 the operations were projected to come
back to profitability to post Yen 100 million recurring profit and Yen 100
million net profit, respectively, on a 5% recovery in turnover, to Yen 15,000
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 240.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1952
Regd No.: (Tokyo-Adachiku) 009674
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued: 202,000 shares
Sum: Yen 100
million
Major shareholders (%): Employees’
S/Holding Assn (27.7), Tajima Roofing KK*(26.2), Sansei Sangyo (11.2), Tsuneo
Tajima (8.1)
*.. Subsidiary trading firm
No. of shareholders: 23
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures PVC
tiles, PVC sheets, PVC planks & tiles, self laying tiles, fabric tiles for flooring, adhesives, broom boards, floor
cleaners, other associated supplies (--100%).
(Export 6%, to over 30 countries in N America,
Clients: [Mfrs,
wholesalers, specialty stores] Sanyu, Lilycolor Co, Aswan Corp, Japan Ornament,
Kawashima Selkon Textiles, Nohara Sangyo & Co, other.
Exports to N America, Europe,
No. of accounts: 1,000
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Itochu Corp, Mitsubishi Chemical, Mitsubishi Corp, Marubeni Corp,
Tajima Okayama (subsidiary), Moriroku, Shiraishi Calcium, other. Imports the materials through general trading
houses.
Payment record: Regular
Location: Business area in
Bank References:
Mizuho
Bank (Asakusa)
MUFG
(Muromachi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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15,000 |
14,252 |
16,902 |
18,646 |
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Recur.
Profit |
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100 |
-558 |
230 |
-1,208 |
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Net
Profit |
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100 |
-666 |
81 |
-2,283 |
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Total
Assets |
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13,590 |
15,016 |
17,637 |
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Current
Assets |
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9,120 |
10,237 |
12,393 |
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Current
Liabs |
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5,738 |
6,842 |
8,787 |
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Net
Worth |
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3,774 |
4,440 |
4,359 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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 |
5.25 |
-15.68 |
-9.35 |
-2.79 |
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Current Ratio |
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.. |
158.94 |
149.62 |
141.04 |
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N.Worth Ratio |
.. |
27.77 |
29.57 |
24.72 |
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R.Profit/Sales |
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0.67 |
-3.92 |
1.36 |
-6.48 |
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N.Profit/Sales |
0.67 |
-4.67 |
0.48 |
-12.24 |
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Return On Equity |
.. |
-17.65 |
1.82 |
-52.37 |
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Notes:
Forecast (or estimated) figures for 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.04 |
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|
1 |
Rs.72.20 |
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Euro |
1 |
Rs.63.40 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.