MIRA INFORM REPORT

 

 

Report Date :           

28.07.2011

 

IDENTIFICATION DETAILS

 

Name :

TOWA ELECTRONICS IND LTD

 

 

Registered Office :

Aioi Sompo Bldg 1F, 5-51-3 Sakuragaoka Setagayaku Tokyo 156-0054

 

 

Country :

Japan

 

 

Financials (as on) :

31.10.2010

 

 

Date of Incorporation :

November 1977

 

 

Com. Reg. No.:

(Tokyo-Setagayaku) 008455  

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of electronics parts, components, cables, connectors

 

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 3.6 Million

 

 

Status :

Small Company 

 

 

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

 

company name

 

TOWA ELECTRONICS IND LTD

 

 

REGD NAME

 

Towa Denshi Kogyo KK

 

 

MAIN OFFICE

 

Aioi Sompo Bldg 1F, 5-51-3 Sakuragaoka Setagayaku Tokyo 156-0054 JAPAN

Tel: 03-5429-2296     Fax: 03-5429-2297

                                               

URL:                             http://www.towa-denshi.co.jp

E-Mail address:                        info@towa-denshi.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of electronics parts, components, cables, connectors

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

HIDEO OKAMURA, PRES                     

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 180 M

PAYMENTS      REGULAR                     CAPITAL           Yen 10 M

TREND             SLOW                          WORTH            Yen 132 M

STARTED                     1977                             EMPLOYES      5

 

COMMENT

 

TRADING FIRM SPECIALIZING IN ELECTRONICS PARTS & COMPONENTS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 3.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Hideo Okamura in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of electronics parts & components, connectors, cables (USB cables, LAN cables, HDM cables), other.  Clients include major electronics makers, other.

 

 

FINANCIAL INFORMATION

           

Financials are only partially disclosed.

 

The sales volume for Oct/2010 fiscal term amounted to Yen 180 million, a 22% down from Yen 230 million in the previous term, as substantially affected by the global economic downturn, particularly in the first half of the term.  High Yen hurt export revenues in Yen terms.  The net profit was posted at Yen 30 million, compared with Yen 14 million a year ago.  Some extraordinary profits are included, details of which unclear.

 

For the current term ending Oct 2012 the net profit is projected at Yen 20 million, on an 11% rise in turnover, to Yen 200 million.  Demand recovered.  Exports revived. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 3.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Nov 1977

Regd No.:         (Tokyo-Setagayaku) 008455

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Hideo Okamura (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

 

 

OPERATION

           

Activities: Imports, exports and wholesales electronics parts & components: automobile-use connector, various cables (USB cables, LAN cables, HDM cables, other), cable harness, other (--100%)

 

Clients: [Mfrs, wholesalers] Secom Co, Toyota Tsusho Corp, JAL International, Kanaden Corp, Sanshin Electronics Co, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Japan Aviation Electronics Ind, JST Mfg Co, Molex Japan, Machida Electronics Materials, other

 

Payment record: Regular

 

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

 

 

Bank References:

Setagaya Shinkin Bank (Funabashi)

SMBC (Kyodo)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/10/2011

31/10/2010

31/10/2009

31/10/2008

Annual Sales

　

200

180

230

260

Recur. Profit

　

　

　

　

　

Net Profit

　

20

30

14

10

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

132

102

88

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

11.11

-21.74

-11.54

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

10.00

16.67

6.09

3.85

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/10/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.95

UK Pound

1

Rs.72.12

Euro

1

Rs.63.67

 

 

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.