MIRA INFORM REPORT
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Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
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Name : |
TAIWA CO LTD |
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Registered Office : |
811 Ichihiraga Seki Gifu-Pref 501-3822 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
October 1971 |
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Com. Reg. No.: |
(Gifu-Seki) 019305 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of forged products, metal molds, horse shoes |
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 11.4 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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Japan |
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
TAIWA CO LTD
REGD NAME
Taiwa Kogyo KK
MAIN OFFICE
811 Ichihiraga
Seki Gifu-Pref 501-3822 JAPAN
Tel:
0575-24-1111 Fax: 0575-24-7110
E-Mail address: info@taiwa-co.com
ACTIVITIES
Mfg of
forged products, metal molds, horse shoes
BRANCHES
Chiba
OVERSEAS
Australia
FACTORIES
At the
caption address
OVERSEAS
Shanghai
(China)
OFFICERS
KAZUHIRO
HASEGAWA, PRES Yuji Hayakawa,
dir
Tatsuhiko
Hasegawa, dir Satoshi
Ogura, dir
Yuki
Hasegawa, dir Yumiko
Hasegawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 600 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND SLOW WORTH Yen
124 M
STARTED 1971 EMPLOYES 48
COMMENT
MFR OF METAL MOLDS, FORGED PRODUCTS & HORSE SHOES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 11.4 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Taizo Hasegawa in order to make
most of his experience in the subject line of business. Kazuhiro is his son, who took the pres office
in 1991. This is a family-based mfr,
wholly owned by the Hasegawa family, of forged products (aluminum, copper,
other), metal molds, horse shoes, hoofs, other.
In 1988, started mfg horse shoes, hoofs, other, having over 80% market
share in Japan. Operates mfg factory in
Shanghai (China).
FINANCIAL INFORMATION
Financial are only partially disclosed as is the case with family-based
companies.
The sales volume for Dec/2010 fiscal term amounted to Yen 600 million, a
9% up from Yen 550 million in the previous term. Forged products for automobiles &
bicycles rose on the back of brisk production of cars, bicycles, other. The net profit was posted at Yen 10 million,
compared with Yen 8 million a year ago.
For the current term ending Dec 2011 the net profit is projected at Yen
10 million, on an 8% rise in turnover, to Yen 650 million. Production at Shanghai Factory is increasing
steadily.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements. Max
credit limit is estimated at Yen 11.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1971
Regd No.: (Gifu-Seki) 019305
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
360,000 shares
Issued: 90,000 shares
Sum: Yen 45 million
Major shareholders (%): Kazuhiro Hasegawa (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
forged products (aluminum, copper, other) for automobiles, bicycle industries,
metal molds (aluminum, copper, magnesium, die cast, other), horse shoes, hoofs,
other (--100%)
Clients: [Mfrs,
wholesalers] Howa Machinery Ltd, KYB Co, other
No. of accounts: 300
Domestic areas of
activities: Centered in greater-Nagoya
Suppliers: [Mfrs,
wholesalers] Koyama Steel Ltd, Apple Inc, other
Imports from China, other
Payment record: Regular
Location: Business area in
Seki City, Gifu-Pref. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
Jyuroku
Bank (Seki)
Ogaki
Kyoritsu Bank (Seki)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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650 |
600 |
550 |
780 |
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Recur.
Profit |
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Net
Profit |
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10 |
10 |
8 |
18 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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124 |
119 |
111 |
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Capital,
Paid-Up |
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45 |
45 |
45 |
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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 |
8.33 |
9.09 |
-29.49 |
-13.33 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.54 |
1.67 |
1.45 |
2.31 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 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.49.08 |
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UK Pound |
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.