MIRA INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
TSUTAWA CO LTD |
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Registered Office : |
OTM Bldg 4F, 1-13-44 Kamihigashi Hiranoku |
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Country : |
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Financials (as on) : |
31.08.2010 |
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Date of Incorporation : |
January 1989 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export, wholesale of injection
molding machines |
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 2.3 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
TSUTAWA CO LTD
REGD NAME
KK Tsutawa
MAIN OFFICE
OTM Bldg 4F,
1-13-44 Kamihigashi Hiranoku
Tel: 06-6794-5788 Fax: 06-5794-5787
URL: www.tsutawa.co.jp
E-mail: kaitori@tsutawa.co.jp
ACTIVITIES
Export,
wholesale of injection molding machines (new & used)
BRANCHES
Hong
Kong,
OFFICER(S)
KUNIHIKO
TSUTAWA, PRES
Jun’ichi
Tsutawa, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 473 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
37 M
STARTED 1989 EMPLOYES 8
COMMENT
EXPORTER
OF INJECTION MOLDING MACHINES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 2.3 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kunihiko Tsutawa in order to make most of his experience in the subject line of business. This is a family-based trading firm specializing in exporting and wholesaling mainly injection molding machines & their auxiliary equipment, both new & old. Handles “Nissei” brand molding machines (new), and second-hand Japan-made molding machines. Exports to China, Korea, India, Indonesia, other S/E Asian countries, USA, Canada, Iran, Mexico, other.
FINANCIAL INFORMATION
The sales volume for Aug/2010 fiscal term amounted to Yen 473 million, a 24% up from Yen 381 million in the previous term. Export demand was sluggish and was hurt by the high Yen reducing export revenues & profits in Yen terms. On the other hand, domestic demand was robust particularly for used machines. The recurring profit was posted at Yen 4 million and the net profit at Yen 3 million, respectively, compared with Yen 1 million recurring loss and Yen 1 million net profit, respectively, a year ago. .
For the current term ending Aug 2011 the recurring profit is projected at Yen 5 million and the net profit at Yen 4 million, respectively, on a 3% rise in turnover, to Yen 485 million. Exports are increasing steadily.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 2.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Jan 1989
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen 10
million
Major shareholders (%):
Kunihiko Tsutawa, Jun’ichi Tsutawa (--majority owned)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Exports and wholesales “Nissei” brand injection molding machines & their auxiliary equipment, second-hand Japan-made molding machines & their parts (--100%).
Clients: [Mfrs, wholesalers] Kinki Sogo Leasing, Fuyo Sogo Leasing, Fuchu Plastic Cooperatives, other.
Exports to: China, Korea, Philippines, Vietnam, Singapore, Malaysia, Indonesia, India, Pakistan, Sri Lanka, Bangladesh, USA, Canada, Iran, Mexico, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nissei Plastic Injection, Daiko Seiki Co, Yushin Precision Equipment Co, Star Seiki Co, other.
Payment record: Regular
Location:
Business area in
Bank References:
· Osaka Shinkin Bank (Kami)
· MUFG (Hirano-Minamiguchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/08/2011 |
31/08/2010 |
31/08/2009 |
31/09/2008 |
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Annual
Sales |
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485 |
473 |
381 |
508 |
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Recur.
Profit |
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5 |
4 |
-1 |
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Net
Profit |
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4 |
3 |
1 |
2 |
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Total
Assets |
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543 |
550 |
538 |
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Current
Assets |
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495 |
523 |
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Current
Liabs |
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118 |
88 |
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Net Worth |
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37 |
33 |
33 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.54 |
24.15 |
-25.00 |
-29.15 |
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Current Ratio |
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.. |
419.49 |
594.32 |
.. |
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N.Worth Ratio |
.. |
6.81 |
6.00 |
6.13 |
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R.Profit/Sales |
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1.03 |
0.85 |
-0.26 |
.. |
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N.Profit/Sales |
0.82 |
0.63 |
0.26 |
0.39 |
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Return On Equity |
.. |
8.11 |
3.03 |
6.06 |
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Notes:
Forecast (or estimated) figures for the 31/08/2011 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.45.16 |
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1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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.