MIRA
INFORM REPORT
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Report Date : |
15.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TANASHIN DENKI CO LTD |
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Registered Office : |
8-19-20 Fukasawa Setagayaku Tokyo 158-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.11.2010 |
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Date of Incorporation : |
May 1967 |
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Com. Reg. No.: |
(Tokyo-Setagayaku) 007299 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of CD, MD, DVD, cassette tape mechanism |
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No. of Employees : |
129 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 249.6 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Japan |
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 and address
TANASHIN DENKI CO LTD
REGD NAME: Tanashin
Denki KK
MAIN OFFICE: 8-19-20
Fukasawa Setagayaku Tokyo 158-0081 JAPAN
Tel: 03-3427-2111 Fax: 03-3420-7100
URL: http://www.tanashin.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of CD, MD,
DVD, cassette tape mechanism
BRANCHES
Shizuoka
(distribution center)
OVERSEAS
Hong Kong,
Shanghai, Singapore
FACTORIES
Hong Kong, China
(Shenzhen, Dongguan), Malaysia, Indonesia
OFFICERS
Shinsaku Tanaka,
ch CHOKU
TANAKA, PRES
Satoshi Hosoya,
mgn dir Masahiko
Kirikoshi, dir
Fusao Horie, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 9,114 M
PAYMENTS REGULAR CAPITAL Yen 80 M
TREND SLOW WORTH Yen
9,272 M
STARTED 1967 EMPLOYES 129
COMMENT
MFR OF AV MECHANISM PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 249.6 MILLION, 30 DAYS NORMAL TERMS.
.
HIGHLIGHTS
The subject company was established
by Shinsaku Tanaka in order to make most of his experience in the subject line
of business. Choku Tanaka is his
son. This firm specializes in mfg AV
mechanism products, such as car CD/DVD mechanism, car CD changer, other. Products are manufactured at 5 overseas
factories: Hong Kong, China (2), Malaysia & Indonesia. Engaged in OEM production, too. Products are exported to Europe, other, with
high market share in Europe. Clients
include major electronics mfrs nationwide.
FINANCIAL INFORMATION
Financials are only partially
disclosed.
The sales volume for Mar/2011 fiscal term amounted to Yen 9,114 million,
a 25% up from Yen 7,315 million in the previous term. Demand from carmakers (car AV equipment,
other) increased to robust degree. The
previous term was badly affected by the global economic downturn. The operations continued in the red to post
Yen 345 million net loss for the term, compared with Yen 832 million net loss a
year ago.
For the current term ending Mar 2012 the
operations are projected to come back to profitability but still limited to a
minimum amount post-taxes, on a 5% rise in turnover, to Yen 2,600 million. Production at overseas factories is
increasing to meet the increasing demand.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 249.6
million, on 30 days normal terms.
REGISTRATION
Date Registered:
May 1967
Regd No.:
(Tokyo-Setagayaku) 007299
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued: 200,000 shares
Sum: Yen 80 million
Major
shareholders (%): Companys Treasury Stock (46), Shinsaku Tanaka (25), Choku
Tanaka (25)
No.
of shareholders: 6
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Development, mfg
of CD, MD, DVD & cassette tape mechanisms, creation of cells for animation,
tape recorders, others (--100%).
(Products):
AV
(audiovisual) mechanism products: MD/CD mechanisms, car CD/DVD mechanism, Car
CD changer, car cassette tape mechanism;
EMS/OEM
products: car CD/DVD radio, tilt panel mechanism for car AV equipment, 8mm video
camera mechanism;
Clients: [Electronics
mfrs] Panasonic Corp, Pioneer Corp, Mitsubishi Electric, Sanyo Automedia Sdn
Bhd, Sony Corp, Clarion Co, Kanematsu Corp, Kenwood Corp, other.
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Aikawa Press, Canon Electronics, Mabuchi Motor, Mitsumi Electric,
Takakita Co, JVC Kenwood Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Horidome)
Mizuho Bank
(Shibuya)
Relations:
Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
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31/11/2011 |
31/11/2010 |
31/11/2009 |
31/11/2008 |
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Annual
Sales |
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9,114 |
7,315 |
12,460 |
19,827 |
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Recur.
Profit |
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-1,933 |
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Net
Profit |
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-346 |
-832 |
-1,488 |
-1,949 |
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Total
Assets |
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20,486 |
N/A |
23,214 |
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Net
Worth |
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9,272 |
9,618 |
10,467 |
11,955 |
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Capital,
Paid-Up |
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80 |
80 |
80 |
80 |
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Div.P.Share(₯) |
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0.00 |
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
24.59 |
-41.29 |
-37.16 |
-19.20 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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46.95 |
.. |
51.50 |
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N.Profit/Sales |
-3.80 |
-11.37 |
-11.94 |
-9.83 |
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Note: Financials
are only partially disclosed.
Confirmed &
resulted figures for the 31/03/2011 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.53.58 |
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|
1 |
Rs.82.97 |
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Euro |
1 |
Rs.69.89 |
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 |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.