MIRA INFORM REPORT
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Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
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Name : |
TOMOIKE INDUSTRIAL CO LTD |
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Registered Office : |
Kintetsu Shin-Namba Bldg 12F, 1-4-38 Minatomachi Naniwaku
Osaka 556-0017 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
October 1951 |
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Com. Reg. No.: |
(Nara-Yamato-Koriyama) 005953 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of heat insulators,
electromagnetic shielding materials |
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No. of Employees
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69 Persons |
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 72.9 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
TOMOIKE INDUSTRIAL CO LTD
REGD NAME
Tomoike Sangyo KK
MAIN OFFICE
Kintetsu
Shin-Namba Bldg 12F, 1-4-38 Minatomachi Naniwaku Osaka 556-0017 JAPAN
Tel:
06-7668-7666 Fax: 06-7668-7667
*.. Registered at: 2-3-4 Higashi Koizumicho Yamato-Koriyama City Nara-Pref
E-Mail address: info@tomoike.co.jp
ACTIVITIES
Import,
export, wholesale of heat insulators, electromagnetic shielding materials
BRANCHES
Tokyo,
Nara, Mie, Yamato-Koriyama, Hiroshima, Mobara (Chiba)
OVERSEAS
China
(2), Hong Kong
FACTORIES
Hong
Kong (subsidiary)
OFFICERS
KOICHI
URANO, PRES Kunikazu
Yoshimi, ch
Akihiro Kiyota, s/mg dir Shin’ichi Ochi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,017 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND SLOW WORTH Yen
813 M
STARTED 1959 EMPLOYES 69
COMMENT
TRADING FIRM SPECIALIZING IN OPTICAL SHEETS, HEAT
INSULATORS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 72.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Kunikazu Yoshimi, now ch, originally in 1953 as a felt maker, on his account. Incorporated in 1959 the firm transformed itself into a trading firm specializing in import, export and wholesale of optical sheets, electromagnetic shielding materials, heat insulators, other (See OPERATION). Clients include major electronics mfrs, wholesalers, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Dec/ 2010 fiscal term amounted to Yen 3,017 million, a 15% down from Yen 3,553 million in the previous term. Exports were hurt by the strong Yen, reducing earnings and profits in Yen terms. The recurring profit was posted at Yen 20 million and the net profit at Yen 13 million, respectively, compared with Yen 104 million recurring profit and Yen 43 million net profit, respectively, a year ago.
For the current term ending Dec 2011 the recurring profit is projected at Yen 20 million and the net profit at yen 15 million, respectively, on a 1% rise in turnover, to Yen 3,050 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 72.9 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1951
Regd No.: (Nara-Yamato-Koriyama) 005953
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
120,000 shares
Issued:
120,000 shares
Sum: Yen 60 million
Major shareholders (%): Tomoike Industrial (HK) Ltd*
(100)
*..
Subsidiary mfr, Hong Kong, founded Apr 1991
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures, imports, exports and wholesales: electromagnetic shielding materials (reflective sheets, diffusion sheets, films, double-sided tapes, other), polyurethane films, polyethylene films, electro-heat insulators, varnished cloths, varnished cloth tapes, other (--100%).
Clients: [Mfrs, wholesalers] Sharp Corp, Hitachi Displays Ltd, Kasatani Corp, Nara Kogyosho, K Tech Co, Panasonic Liquid Display Co, Minami Factory Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Rayon Co, Tokyo Film Service Co, Nara Kogyosho, Towa Denki Co, Sankyo-Shoji Co, Tsujiden Co, Semba Denki Kazai Co, Shimada Precision Co, other
Payment record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
· Mizuho Bank (Abenobashi)
· MUFG (Shinanobashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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3,050 |
3,017 |
3,553 |
5,503 |
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Recur.
Profit |
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20 |
20 |
104 |
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Net
Profit |
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15 |
13 |
43 |
61 |
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Total
Assets |
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2,175 |
2,621 |
2,630 |
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Current
Assets |
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1,697 |
2,107 |
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Current
Liabs |
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1,068 |
1,473 |
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Net
Worth |
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813 |
806 |
754 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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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 |
1.09 |
-15.09 |
-35.44 |
-1.73 |
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Current Ratio |
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.. |
158.90 |
143.04 |
.. |
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N.Worth Ratio |
.. |
37.38 |
30.75 |
28.67 |
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R.Profit/Sales |
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0.66 |
0.66 |
2.93 |
.. |
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N.Profit/Sales |
0.49 |
0.43 |
1.21 |
1.11 |
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Return On Equity |
.. |
1.60 |
5.33 |
8.09 |
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Notes:
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.52.17 |
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UK Pound |
1 |
Rs.80.64 |
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Euro |
1 |
Rs.69.43 |
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.