MIRA INFORM REPORT
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Report Date : |
27.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TATSUNO CORPORATION |
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Registered Office : |
2-12-18 Shibaura Minatoku Tokyo 108-8520 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
March 1928
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Com. Reg. No.: |
(Tokyo-Minatoku) 017243 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of equipment for petrol industry |
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No. of Employees
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647 persons |
RATING & COMMENTS
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MIRA’s 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 735.5 Million |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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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
TATSUNO CORPORATION
REGD NAME
Tatsuno
Mechatronics
MAIN OFFICE
2-12-18 Shibaura
Minatoku Tokyo 108-8520 JAPAN
Tel:
03-3452-6211 Fax: 03-3455-0946
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
equipment for petrol industry
BRANCHES
Osaka,
Nagoya, Sapporo, Sendai, Hiroshima, Fukuoka, other (Tot 69)
OVERSEAS
Korea,
China, Thailand, India, Czech, Russia, Vietnam (--subsidiaries)
FACTORIES
Yokohama;
Korea, China, Thailand, India, Czech, Russia, Vietnam
OFFICERS
HIROMICHI
TATSUNO, PRES Toshiaki Motohashi,
s/mgn dir
Akifumi
Kanamori, dir Kohshi
Tsuchiya, dir
Harutaka
Nakayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 20,933 M
PAYMENTS REGULAR CAPITAL Yen 480 M
TREND SLOW WORTH Yen 14,319 M
STARTED 1928 EMPLOYES 647
COMMENT
MFR OF EQUIPMENT FOR PETROL INDUSTRY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 735.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1911 by Uchu Tatsuno
as Tatsuno Seisakusho, on his account.
Incorporated in 1928, the firm has been succeeded by his
descendants. Developed the Japan’s first
petrol dispensing pump (a metering & pumping system for petrol service
stations). This is a specialized mfr of
petrol equipment/facilities, OA equipment for gas stations, other related. It operates 7 mfg factories in Asia,
including Russia & Czech. Operates
69 branch offices in Japan nationwide.
Domestic clients include major oil refineries, service stations, other,
nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 20,933
million, a 23% down from Yen 27,053 million in the previous term. Sales were affected by the global economic
downturn, particularly in the first half of the term. The Great East Japan Earthquake, which
occurred in Mar 2011, caused considerable human suffering & enormous damage
to the social infrastructure & Japanese economy. Supply channels were disrupted. The operations plunged into the deficit to
post Yen 308 million recurring loss and Yen 2,908 million net losses,
respectively, compared with Yen 302 million recurring profit and Yen 209
million net profit, respectively, a year ago.
For the current term ending Mar 2012 the operations are projected to
come back to profitability to post Yen 250 million recurring profit and Yen 250
million net profit, respectively, on a 10% rise in turnover, to Yen 23,000
million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 735.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 1928
Regd No.: (Tokyo-Minatoku) 017243
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
38 million shares
Issued: 9.8 million shares
Sum: Yen 480 million
Major shareholders (%): KK Shirogane Estate (18.1),
Hiryu KK (15.7), Employees’ S/Holding Assn (7.2), Hiromichi Tatsuno
(6.1),Radiant Co (4.7)
No. of shareholders: 59
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Engineering works for petrol equipment & facilities (53%), manufactures petrol dispensing pump systems for gas stations (44%), OA equipment for gas stations (3%).
Export (17%)
Clients: [Oil refineries,
mfrs, wholesalers] JX Nippon Oil & Energy Corp, Showa Shell Sekiyu KK,
Exxon Mobil, Idemitsu Kosan, Cosmo Oil, Kignus Oil, Taiyo Oil, other.
Exports to: China, Middle East, Asia, Oceania, Europe, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Corp, NEC Corp, Yokohama Rubber Co, TAD, Ricoh Co, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
·
SMBC (Shimbashi)
·
Mizuho Bank (Shiba)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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23,000 |
20,933 |
27,053 |
22,465 |
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Recur.
Profit |
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250 |
-308 |
302 |
601 |
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Net
Profit |
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250 |
-2,908 |
209 |
2,301 |
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Total
Assets |
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29,326 |
33,137 |
32,069 |
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Current
Assets |
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14,356 |
18,193 |
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Current
Liabs |
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8,516 |
8,503 |
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Net
Worth |
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14,319 |
17,256 |
17,050 |
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Capital,
Paid-Up |
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|
480 |
480 |
480 |
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Div.P.Share(¥) |
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2.50 |
2.50 |
2.50 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
9.87 |
-22.62 |
20.42 |
-39.11 |
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Current Ratio |
|
.. |
168.58 |
213.96 |
.. |
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N.Worth Ratio |
.. |
48.83 |
52.07 |
53.17 |
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R.Profit/Sales |
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1.09 |
-1.47 |
1.12 |
2.68 |
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N.Profit/Sales |
1.09 |
-13.89 |
0.77 |
10.24 |
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Return On Equity |
.. |
-20.31 |
1.21 |
13.50 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.82 |
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UK Pound |
1 |
Rs.82.07 |
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Euro |
1 |
Rs.68.93 |
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 |
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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.