MIRA INFORM
REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
Tahsin Shoji Co Ltd. |
|
|
|
|
Registered Office : |
2-8-2 Imagome Higashi-Osaka Osaka-Pref 578-0973 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
June, 1979 |
|
|
|
|
Com. Reg. No.: |
(Osaka-Higashiosaka) 004761 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import, Wholesale of Polyester Sports Wear. |
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 43.900 Millions |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
TAHSIN SHOJI CO LTD
REGD NAME: Tahsin
Shoji KK
MAIN OFFICE: 2-8-2
Imagome Higashi-
Tel: 072-964-1661
Fax: 072-965-5671
E-mail: info@tahsin.co.jp
ACTIVITIES
Import, wholesale of polyester
sports wear
BRANCHES
Nil
FACTORIES
Meguro (warehouse)
OFFICER(S)
HAKUTAKU KO, PRES (Taiwanese
resident)
Seiji
Hayashi, v pres
Seito
Kyuu, s/mgn dir (Taiwanese resident) (phonetically spelled)
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,139 M
PAYMENTS REGULAR CAPITAL Yen
100 M
TREND SLOW WORTH Yen
492 M
STARTED 1979 EMPLOYES 30
COMMENT
TRADING FIRM SPECIALIZING IN
POLYESTER PRODUCTS, WHOLLY OWNED BY TAHSIN INDUSTRIAL CORP,
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$150,000 / O/A 60 DAYS
MAX
CREDIT LIMIT: YEN 43.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established by Tahsin Industrial Corp,
FINANCIAL INFORMATION
The
sales volume for Dec/2009 fiscal term amounted to Yen 2,139 million, an 11%
down from Yen 2,404 million in the previous term, as affected substantially by
the global economic downturn. Consumer
spending was sluggish. The recurring
profit was posted at Yen 62 million and the net profit at Yen 37 million,
respectively, compared with Yen 103 million recurring profit and Yen 59 million
net profit, respectively, a year ago. .
For
the term that ended Dec 2010 the recurring profit was projected at Yen 65
million and the net profit at Yen 35 million, respectively, on a 3% rise in
turnover, to Yen 2,200 million. The
final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 43.9
million, on 30 days normal terms. The
proposed amount for 60 days is considered well within the firm’s financial
capacities.
REGISTRATION
Date Registered: Jun 1979
Regd No.: (Osaka-Higashiosaka) 004761
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%):
Tahsin Industrial Corp,
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales PP sportswear,
rain wear, home ware, office supplies, other, manufactured by the Taiwanese
parent, Tahsin Industrial Corp (--100%)
(Handling
Items): outdoor wear, wind breaker, skiwear, racer jacket, storm
jacket, rain wear, office equipment (plastic binding supplies, manual binding
machines, electric binding machines), home ware (apparel cases, shelves,
hanger, shoes rack, basket, PP corrugated board), laminator (laminating files),
other
Clients:
[Mfrs, wholesalers] Globeride Inc, Mitsubishi Plastic, Dunlop Sport, Yamaha
Motor, Asics Corp, Shimano Inc, Honda Access, Meiwa Gravure, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Imports from Tahsin Industrial Corp, Chi Mei Corp, and its
group firms.
Domestically supplied from Shi-Etsu Chemical, other.
Payment record: Regular
Location:
Business area in Higashi-Osaka. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Higashi-Osaka-Chuo)
Mizuho
Bank (Osaka-Higashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
|
Annual
Sales |
|
2,200 |
2,139 |
2,404 |
2,532 |
|
Recur.
Profit |
|
65 |
62 |
103 |
40 |
|
Net
Profit |
|
35 |
37 |
59 |
21 |
|
Total
Assets |
|
|
1,629 |
1,822 |
1,780 |
|
Current
Assets |
|
|
653 |
774 |
779 |
|
Current
Liabs |
|
|
741 |
833 |
800 |
|
Net
Worth |
|
|
492 |
446 |
394 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.85 |
-11.02 |
-5.06 |
0.60 |
|
|
Current Ratio |
|
.. |
88.12 |
92.92 |
97.38 |
|
N.Worth Ratio |
.. |
30.20 |
24.48 |
22.13 |
|
|
R.Profit/Sales |
|
2.95 |
2.90 |
4.28 |
1.58 |
|
N.Profit/Sales |
1.59 |
1.73 |
2.45 |
0.83 |
|
|
Return On Equity |
.. |
7.52 |
13.23 |
5.33 |
|
Notes: Forecast
(or estimated) figures for the 31/12/2010 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
|
|
1 |
Rs.72.50 |
|
Euro |
1 |
Rs.62.46 |
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 Company |
---- |
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.