MIRA INFORM REPORT

 

 

Report Date :

27.07.2011

 

IDENTIFICATION DETAILS

 

Name :

TODO SEISAKUSHO LTD

 

 

Registered Office :

No. 10 Hase Bldg 2F, 391 Osakacho Karasuma-5-jyo Shimogyoku Kyoto 600-8177

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

January 1945

 

 

Com. Reg. No.:

(Kyoto-Shimogyoku) 018180

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of textile machines

 

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 13.6 Million,

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Name and address

 

TODO SEISAKUSHO LTD

REGD NAME:    KK Todo Seisakusho

MAIN OFFICE:  No. 10 Hase Bldg 2F, 391 Osakacho Karasuma-5-jyo Shimogyoku Kyoto

600-8177 JAPAN

                        Tel: 075-371-0701     Fax: 075-371-0708

 

URL:                 http://www.todo-ltd.co.jp/

E-Mail address: td-somu@todo-ltd.co.jp

 

 

ACTIVITIES

 

Mfg of textile machines

 

BRANCHES   

 

Osaka

 

OVERSEAS AGENTS

 

Yuil Texma Co Ltd (Korea); PD Surya Lestari (Indonesia);

Trans World Marketing (India); Mr Tsai Chia Shu (Taiwan);

Peden Textile Equipment Co (USA); Shanghai Todo Machinery Mfg Co Ltd (China)

 

FACTORIES  

 

Shiga

 

OVERSEAS   

 

Shanghai Todo Machinery Mfg (China) (subsidiary)

 

 

OFFICERS

 

TAKASHI WADA, PRES                        Toshiyuki Todo, ch

Yoshiaki Ikeda, dir                                 Kazuo Fukada, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        R/WEAK           A/SALES          Yen 1,169 M

PAYMENTS      REGULAR         CAPITAL           Yen 100 M

TREND             SLOW              WORTH            Yen 243 M

STARTED         1945                 EMPLOYES      85

 

 

COMMENT

 

MFR SPECIALIZING IN TEXTILE MACHINES. 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 13.6 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1905 by a certain Todo in order to make most of his experience in the subject line of business, on his account, and has been succeeded by his descendants.  This is a specialized mfg of textile machines & equipment (See OPERATION).  Has a subsidiary factory in China, Shanghai Todo Machinery Mfg Co Ltd, founded in 1994.  6 appointed agents centrally in Asian countries, including one in USA.  Clients are major electronics devices mfrs nationwide.  Goods are also imported and exported. 

 

           

FINANCIAL INFORMATION

 

The sales volume for Dec/2010 fiscal term amounted to Yen 1,169 million, a 31% up from Yen 814 million in the previous term.  Sales recovered greatly from the previous year when sales were substantially affected by the global economic downturn & textile market was down pressed and sluggish.  The operations, however, continued to be in the red to register Yen 57 million recurring loss and Yen 63 million net losses, respectively, compared with Yen 186 million recurring loss and Yen 193 million net losses, respectively, a year ago.  High Yen ate into profits in Yen terms.

 

For the current term ending Dec 2011 the operations are projected to come back to profitability to post Yen 100 million recurring profit and Yen 50 million net profits, respectively, on a 10% rise in turnover, to Yen 1,280 million.  Demand recovered.  Exports revised into China and other S/E Asian countries.

 

The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.  Max credit limit is estimated at Yen 13.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Jan 1945

Regd No.:            (Kyoto-Shimogyoku) 018180

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800,000 shares

Issued:                200,000 shares

Sum:                   Yen 100 million

Major shareholders (%): Toshiyuki Todo (18.8), Akiko Kitamura (12.6), Takashi Wada (6.8)

No. of shareholders: 54

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures semiconductor-related machines, textile machines;

Other (--100%)

Goods are also imported and exported.

           

(Mfg products):

Automated Machinery Div: tape & reeling machines, direct-in taping machines, auto reel charger, inserter/remover for burn-in board, automatic IC inserter/remover for burn-in board;

Textile Machinery Div: automatic drawing machines, warp typing machines, reed drawing machines, warp leasing machines, reaching machines, dropper pinning machines;

Storage & Transport Equipment Div: (for the weaving factory) warp flow system, warp beam carrier, manual warp beam carrier, cloth roll doffer carrier, warp jointer, beam stocker

 

Clients: [Electronics mfrs, wholesalers] Sony Corp, NEC, Mitsubishi Electric, NEC Factory Engineering, Toshiba Corp, Sharp Corp, Rohm Co, Oki Electric Ind, Panasonic Electronic Device, Renesas Electronics Corp, Toyota Tsusho Corp, Marubeni Corp, other.

No. of accounts: 1,000

Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Sanko Kiko Co, Takebishi Electric Sales, Kyoto Eikosha, Kolec Co, KISTEM Co, Yamashina Engineering, Hokuriku Kogyo Co, Kyoei Nichiyu Co, other.

Imports from China, etc.

 

Payment record: Regular

 

Location: Business area in Kyoto.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Bank of Kyoto (H/O)

MUFG (Kyoto-Chuo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

1,280

1,169

814

1,571

Recur. Profit

　

100

-186

-186

　

Net Profit

　

50

-63

-193

5

Total Assets

　

　

1,527

1,691

1,579

Current Assets

　

　

997

1,155

　

Current Liabs

　

　

586

603

　

Net Worth

　

　

243

307

500

Capital, Paid-Up

　

　

100

100

100

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

9.50

43.61

-48.19

-19.10

    Current Ratio

 

..

170.14

191.54

..

    N.Worth Ratio

..

15.91

18.15

31.67

    R.Profit/Sales

 

7.81

-15.91

-22.85

..

    N.Profit/Sales

3.91

-5.39

-23.71

0.32

    Return On Equity

..

-25.93

-62.87

1.00

 

Notes: Forecast (or estimated) figures for 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.29

UK Pound

1

Rs.72.36

Euro

1

Rs.64.17

 

 

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 Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.