MIRA INFORM
REPORT
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Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
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Name : |
TATSUNO CORPORATION |
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Registered Office : |
3-2-9 Minamihonmachi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
May 1948 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale, mfg
of apparel, resins, metal products; real estate management |
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 92.6 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
TATSUNO CORPORATION
REGD NAME
Tatsuno KK
MAIN OFFICE
3-2-9
Minamihonmachi Chuoku
Tel:
06-6263-2331 Fax: 06-6263-7471
*.. Tokyo Office
moved to: 1-20-10 Nishishimbashi Minatoku Tokyo
URL: http://www.tatsuno.co.jp
E-Mail address: info@tatsuno.co.jp
ACTIVITIES
Wholesale,
mfg of apparel, resins, metal products; real estate management
BRANCHES
FACTORIES
Higashi-Osaka,
OFFICERS
KATSUHIKO
TATSUNO, PRES
Morihiko
Tatsuno, dir
Katsuhiro
Mandokoro, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,635 M
PAYMENTS REGULAR CAPITAL Yen 330 M
TREND SLOW WORTH Yen
7,835 M
STARTED 1948 EMPLOYES 115
COMMENT
TRADING FIRM, WITH MFG DIVISION, SPECIALIZING IN APPAREL,
RESINS, CONSTRUCTION MATERIALS; REAL ESTATE MANAGEMENT
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 92.6 MILLION, 30 DAYS
HIGHLIGHTS
The subject company
was established originally in 1934 by Hikoichi Tatsuno as a textile goods
merchant, on his account. Incorporated
in 1948, the firm has been succeeded by the founder’s descendants. This is a trading firm, with mfg division,
specializing in import, export and wholesale of apparel (school, office,
factory-uniforms), construction materials, resins, other. The real estate division maintains and
supervises about 40 owned buildings centering in
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 12,635 million, a 13% down from Yen 14,457
million in the previous term, as affected by the global economic downturn
particularly in the first half of the term.
Consumer spending was sluggish.
High Yen hurt import/export revenues in Yen terms. The recurring profit was posted at Yen 1,638
million and the net profit at Yen 1 million, respectively, compared with Yen
1,723 million recurring profit and Yen 658 million net profit, respectively, a
year ago. Foreign currency exchange
losses incurred.
For the current term
tending Mar 2011 the recurring profit is projected at Yen 1,650 million and the
net profit at Yen 350 million, respectively, on a 7% rise in turnover, to Yen
13,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 92.6
million, on 30 days normal terms.
REGISTRATION
Date Registered: May
1948
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24 million4 million shares
Issued: 6.6 million shares
Sum: Yen 330 million
Major shareholders (%): Katsuhiko Tatsuno (16.5),
Kohei Tatsuno (9.9), Teppei Tatsuno (9.9), Mitsuhiko Tatsuno (8.5), Motonobu
Tatsuno (7.9), Morihiko Tatsuno (6.6)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Wholesales, manufactures and imports textiles, resins, metal products,
other construction materials, pre-fabricated houses & housing kits; real
estate management:
(Sales Breakdown by Divisions):
Apparel Division (34%): office uniforms, work wear, clean-room wear
(anti-dust), men’s & women’s suits, sports wear, other;
Materials Division (14%): Pipe Materials (FRP pipe, PFP pipe, SGR pipe,
flexible pipe, vinyl chloride draining pipe, FRPM pipe, polyethylene pipe,
draining pipe), other resin ware (FRP trough, cable protection sheet, FRP
grating, FRP fence, FRP ladder, FRP elevator, strengthening plastic complex
sheet, reinforcement for concrete, water tank, high-level water tank, concrete
make wares, concrete poll for cable support, concrete trough, box culvert,
manhole, other);
Real Estate Division (42%): manages 40-45 office buildings, residential
buildings, warehouses, exhibition halls, parking lots, other centering in
greater-Osaka region; house building, other;
Overseas Division (10%): imports & exports textiles, fabrics,
machinery, chemicals, prefab homes, cosmetics; manages owned buildings in
Clients: [Electric powers, mfrs, wholesalers] Haseko Corporation, Tokyo
Electric Power, Kansai Electric Power Descant, Daimaru Matsuzakaya Department
Store, SWCC Showa Holdings, Woolen Co, Descent, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs, wholesalers] Marubeni Corp, Itochu Corp, AGC Matex, Kurimoto
Kasei Kogyo, Mitsui Bussan Inter Fashion, Teijin Fiber, Kuraray Co, other.
Payment record:
Regular
Location: Business area in
Bank References:
SMBC
(Bingomachi)
MUFG
(Semba-Chuo)
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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13,500 |
12,635 |
14,457 |
16,928 |
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Recur.
Profit |
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1,650 |
1,638 |
1,723 |
1,823 |
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Net
Profit |
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350 |
1 |
658 |
1,032 |
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Total
Assets |
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68,078 |
69,958 |
70,763 |
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Current
Assets |
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9,870 |
8,993 |
6,390 |
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Current
Liabs |
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6,413 |
18,656 |
19,418 |
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Net
Worth |
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7,835 |
6,604 |
6,517 |
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Capital,
Paid-Up |
|
|
330 |
330 |
330 |
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Div.P.Share(¥) |
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|
3.00 |
3.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.85 |
-12.60 |
-14.60 |
19.59 |
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Current Ratio |
|
.. |
153.91 |
48.20 |
32.91 |
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N.Worth Ratio |
.. |
11.51 |
9.44 |
9.21 |
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R.Profit/Sales |
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12.22 |
12.96 |
11.92 |
10.77 |
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N.Profit/Sales |
2.59 |
0.01 |
4.55 |
6.10 |
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Return On Equity |
.. |
0.01 |
9.96 |
15.84 |
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Note: Forecast
(or estimated) for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.18 |
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|
1 |
Rs.73.04 |
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Euro |
1 |
Rs.61.43 |
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.