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MIRA INFORM REPORT

 

 

Report Date :            

12.04.2011

 

IDENTIFICATION DETAILS

 

Name :

TOTAL TECHNO CO LTD

 

 

Registered Office :

Towa Bldg, 3-5-5 Hongo Bunkyoku Tokyo 113-0033

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

September 2003

 

 

Com. Reg. No.:

(Tokyo-Bunkyoku) 118837

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturing of digital signage, SA equipment, IC card, LED lighting

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 6.1 Million

 

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

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)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

TOTAL TECHNO CO LTD

 

 

REGD NAME

 

Total Techno KK

 

 

MAIN OFFICE

 

Towa Bldg, 3-5-5 Hongo Bunkyoku Tokyo 113-0033 JAPAN

Tel: 03-5842-6855     Fax: 03-5842-6856

URL:                 www.t-tc.co.jp

E-mail:             info@t-tc.co.jp  

 

 

ACTIVITIES  

 

Mfg of digital signage, SA equipment, IC card, LED lighting

 

 

BRANCHES   

 

Nil

 

 

FACTORIES  

 

Osaka, Toda, Tottori (2)

 

 

OFFICER(S)

 

HISATAKE MIYAMOTO, PRES

Masaru Oginoya, mgn dir

Masami Ishiguro, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    R/WEAK           A/SALES          Yen 1,958 M

PAYMENTS      REGULAR         CAPITAL           Yen 380 M

TREND             SLOW               WORTH            Yen 30 M

STARTED                     2003                 EMPLOYES      44

 

 

COMMENT

 

MFR SPECIALIZING IN DIGITAL SIGNAGE, OWNED BY TOWA MECCS CORP. 

 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOUL BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 6.1 MILLION, 30 DAYS, RECOMMENDING SECURED TERMS BY THE PARENT, TOWA MECCS CORP

 

 

HIGHLIGHTS

 

The subject company was established on the basis of a division separated from Towa Meccs Corp (See REGISTRATION).  This is a specialized mfr of digital signage, SA equipment, IC cards, LED lighting, other.  Goods are wholly shipped to the parent and group firms.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2010 fiscal term amounted to Yen 1,958 million, a 148% up from Yen 788 million in the previous term.  The recurring profit was posted at Yen 23 million and the net profit at yen 31 million, respectively, compared with Yen 175 million recurring profit and Yen 437 million net losses, respectively, a year ago.  .

 

For the term that ended Mar 2011 the recurring profit was projected at Yen 25 million and the net profit at Yen 30 million, respectively, on a 2% rise in turnover, to Yen 2,000 million.  Final results are yet to be released. 

           

The financial situation is considered RATEHR WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 6.1 million, on 30 days, recommending secured terms from the parent on new transactions.  Max credit limit of the parent, Towa Meccs Corp, is estimated at Yen 154.0 million, on 30 days normal terms.

 

REGISTRATION

 

Date Registered:  Sept 2003

Regd No.:           (Tokyo-Bunkyoku) 118837

Legal Status:    　Limited Company (Kabushiki Kaisha)

Authorized:      　5,800 shares

Issued: 　           5,800 shares

Sum:                　Yen 380 million

Major shareholders (%): Towa Meccs Corp* (100)

 

*.. Mfr of data processing equipment bound for distribution industry, Tokyo, founded 1946, listed Tokyo S/E (second section), capital Yen 3,649 million, sales Yen 4,818 million operating loss Yen 388 million, recurring loss Yen 485 million, net loss Yen 569 million, total assets Yen 4,798 million, net worth Yen 3,235 million, employees 274, pres Saburo Murata

 

Consolidated Financials are attached (See SUPPLEMENTS)

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures LED/digital signage (75.5%), SA equipment, IC cards (14.5%), LED lighting, others (10%).

 

Clients: [Mfrs, wholesalers] Towa Meccs Corp (90%), other

            No. of accounts: 50

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Big Sons Co, Nichia Corp, Gunma Electronics, Sanyo Electric Co, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned by the parent, Towa Meccs Corp, and maintained satisfactorily.

 

Bank References:

Resona Bank (Umeda)

MUFG (Umeda)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

2,000

1,958

788

1,859

Recur. Profit

　

25

23

-175

　

Net Profit

　

30

31

-437

-137

Total Assets

　

　

588

412

885

Current Assets

　

　

536

371

　

Current Liabs

　

　

374

314

　

Net Worth

　

　

30

-1

436

Capital, Paid-Up

　

　

380

380

380

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.15

148.48

-57.61

-26.14

    Current Ratio

 

..

143.32

118.15

..

    N.Worth Ratio

..

5.10

-0.24

49.27

    R.Profit/Sales

 

1.25

1.17

-22.21

..

    N.Profit/Sales

1.50

1.58

-55.46

-7.37

 

Notes: Forecast (or estimated) figures for the 31/03/2011 fiscal term. 

 

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, TOWA MECCS CORPORATION

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2010

31/03/2009

INCOME STATEMENT

 

 

 

  Annual Sales

　

4,818

5,395

 

  Cost of Sales

2,741

3,532

 

      GROSS PROFIT

2,077

1,862

 

  Selling & Adm Costs

2,466

2,325

 

      OPERATING PROFIT

-388

-463

 

  Non-Operating P/L

-97

-31

 

      RECURRING PROFIT

-485

-494

　

      NET PROFIT

-569

-1,079

BALANCE SHEET

 

 

 

 

  Cash

　

1,636

1,885

 

  Receivables

 

934

956

 

  Inventory

 

921

1,135

 

  Securities, Marketable

　

　

 

  Other Current Assets

(106)

17

 

      TOTAL CURRENT ASSETS

3,385

3,993

 

  Property & Equipment

865

879

 

  Intangibles

 

49

68

 

  Investments, Other Fixed Assets

499

505

 

      TOTAL ASSETS

4,798

5,445

 

  Payables

 

280

307

 

  Short-Term Bank Loans

207

300

 

　

 

　

　

 

  Other Current Liabs

449

400

 

      TOTAL CURRENT LIABS

936

1,007

 

  Debentures

 

420

510

 

  Long-Term Bank Loans

42

　

 

  Reserve for Retirement Allw

　

　

 

  Other Debts

　

165

189

 

      TOTAL LIABILITIES

1,563

1,706

 

      MINORITY INTERESTS

 

 

 

Common stock

3,649

3,649

 

Additional paid-in capital

1,209

1,209

 

Retained earnings

(1,575)

(1,006)

 

Evaluation p/l on investments/securities

1

1

 

Others

 

(41)

(106)

 

Treasury stock, at cost

(8)

(8)

 

      TOTAL S/HOLDERS` EQUITY

3,235

3,739

　

      TOTAL EQUITIES

4,798

5,445

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2010

31/03/2009

 

Cash Flows from Operating Activities

　

-18

-324

 

Cash Flows from Investment Activities

170

254

 

Cash Flows from Financing Activities

-188

-153

　

Cash, Bank Deposits at the Term End

　

1,184

1,220

ANALYTICAL RATIOS            Terms ending:

31/03/2010

31/03/2009

 

 

Net Worth (S/Holders' Equity)

3,235

3,739

 

 

Current Ratio (%)

361.65

396.52

 

 

Net Worth Ratio (%)

67.42

68.67

 

 

Recurring Profit Ratio (%)

-10.07

-9.16

 

 

Net Profit Ratio (%)

-11.81

-20.00

 

 

Return On Equity (%)

-17.59

-28.86

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.22

UK Pound

1

Rs.72.26

Euro

1

Rs.63.90

 

 

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

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

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.