MIRA INFORM REPORT

 

 

Report Date :           

08.08.2011

 

IDENTIFICATION DETAILS

 

Name :

TOHO TECHNOLOGY CORPORATION

 

 

Registered Office :

3-10-22 Sakae Nakaku Nagoya 450-0008

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

November 1932

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of industrial electronics, printed circuit board

 

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 906.8 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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name

 

TOHO TECHNOLOGY CORPORATION

 

 

REGD NAME 

 

Toho Technology KK

 

 

MAIN OFFICE

 

3-10-22 Sakae Nakaku Nagoya 450-0008 JAPAN

Tel: 052-251-7211     Fax: 052-251-3646

                                               

URL:                             http://www.toho-tec.co.jp

E-Mail address:                        info@toho-tec.co.jp

 

 

ACTIVITIES

 

Mfg of industrial electronics, printed circuit board, other

 

 

BRANCHES   

 

Tokyo, Toyoda, Ogaki

 

 

OVERSEAS   

 

USA, China (3), Korea, Taiwan, Singapore, USA

 

 

FACTORIES

 

Inazawa (Aichi); Shanghai


 

OFFICERS

 

HEDEYUKI TOMITA, PRES                    Kazuo Tomita, ch

Yukio Hatano, v ch                                 Noboru Hayakawa, s/mgn dir

Yasutaka Tomita, mgn dir                       Hiromi Yamazaki, dir                 

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 20,261 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 430 M

TREND             SLOW                          WORTH            Yen 8,308 M

STARTED                     1932                             EMPLOYES      330

 

 

COMMENT

 

MFR OF INDUSTRIAL ELECTRONICS EQUIPMENT.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

           

MAX CREDIT LIMIT: YEN 906.8 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by a certain Tomita for mfg automatic control panels and has been succeeded by his descendants.  Hideyuki Tomita took the pres office in Jan 2001.  Owned and operated by the Tomita family, the firm specializes in mfg electronic devices and clean systems.  80% of the goods are produced on an OEM basis.  In w005, acquired FPD business division from Nano Metrics Inc (USA) and started mfg film thickness gauges.  The subject is the agent dealer in the greater-Nagoya district for Hitachi Ltd & group firms.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 20,261 million, a 10% up from Yen 18,368 million in the previous term.  The newly opened subsidiaries in Taiwan & Korea contributed to the sales growth.  The recurring profit was posted at Yen 802 million and the net profit at Yen 393 million, compared with Yen 360 million recurring profit and Yen 211 million net profit, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 810 million and the net profit at Yen 400 million, respectively, on a 6% rise in turnover, to Yen 21,500 million.  Opened a new factory in China in Feb 2011.  Sales are seen growing steadily.   

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 906.8 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Nov 1932

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         3.44 million shares

Issued:             860,000 shares

Sum:                   Yen 430 million

Major shareholders (%): KK Tomita Kigyo* (44), Hideyuki Tomita (13), Employees’ Shareholding Assn (11), Kazuo Tomita (11)

 

No. of shareholders: 8

 

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

 

 

OPERATION

           

Activities: Manufacture industrial electronics: printed circuit boards, electro-mechanical assemblies, film thickness gauges, stress measurement systems, flat panel profilers, other (--100%).  80% of the products are mfr’d on an OEM basis.

 

Clients: [Mfrs, wholesalers] Sharp Corp, Nano Metrics Japan, Panasonic LED Display, Hitachi Ltd, Chubu Electric Power, Mimasu Semiconductor Ind, BOE, Nippon Glass Corp, Toyoda Gosei Co, BOE, other

            No. of accounts: 800

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Hitachi Ltd & group firms, Renesas Electronics, Shin Meiwa Ind, other

 

Payment record: Regular

 

Location: Business area in Nagoya.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Nagoya)

Bank of Nagoya (H/O)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

21,500

20,261

18,368

26,700

Recur. Profit

　

810

802

360

　

Net Profit

　

400

393

211

360

Total Assets

　

　

14,272

14,771

15,686

Current Assets

　

　

11,354

12,031

　

Current Liabs

　

　

4,312

4,916

　

Net Worth

　

　

8,308

7,955

7,784

Capital, Paid-Up

　

　

430

430

430

Div.P.Share(¥)

　

　

102.20

102.20

102.20

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.12

10.31

-31.21

390.36

    Current Ratio

 

..

263.31

244.73

..

    N.Worth Ratio

..

58.21

53.86

49.62

    R.Profit/Sales

 

3.77

3.96

1.96

..

    N.Profit/Sales

1.86

1.94

1.15

1.35

    Return On Equity

..

4.73

2.65

4.62

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.80

UK Pound

1

Rs.72.86

Euro

1

Rs.63.11

 

 

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

----

NB

New Business

----

 

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.