MIRA INFORM REPORT
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Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
TOHO WATCH & CLOCK CO LTD |
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Registered Office : |
3-1-10 Bakurocho
Chuoku Osaka 541-0059 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
November
1950 |
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Com. Reg. No.: |
(Osaka-Chuoku)
085405 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
Wholesale, Retail of watches, jewelry |
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 202.7 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 – 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 |
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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
TOHO WATCH & CLOCK CO LTD
REGD NAME
Toho Tokei KK
MAIN OFFICE
3-1-10 Bakurocho
Chuoku Osaka 541-0059 JAPAN
Tel:
06-6281-1111 Fax: 06-6251-7843
URL: http://www.toho.watch.com
E-Mail address: info@toho.watch.com
ACTIVITIES
Import,
wholesale, retail of watches, jewelry
BRANCHES
Tokyo
Nagoya
STORES
At the
caption address
OFFICERS
NOBUO
KAWAI, PRES Yutaka
Shimazaki, mgn dir
Takao
Oshima, dir Toshinori
Kawai, dir
Sumio
Inoue, dir Keita
Kawasaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 4,850 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND SLOW WORTH Yen
2,823 M
STARTED 1950 EMPLOYES 67
COMMENT
TRADING FIRM SPECIALIZING IN WATCHES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 202.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Shuzo Kawai originally in 1925
for selling watches, on his account.
Incorporated in 1950 the firm has been succeeded by his
descendants. This is a trading firm
specializing in import, wholesale and retail of watches, jewelry, other. Distribution agents for Rolex watches, which
accounts for 50% of total sales. A
subsidiary operates retail stores in major department stores nationwide.
FINANCIAL INFORMATION
The sales volume for Sept/2010 fiscal term amounted to Yen 4,850
million, an 11% down from Yen 5,427 million in the previous term, as affected
by the global economic downturn, particularly in the first half. Consumer spending was sluggish particularly
for watches, jewelry, arts and other big-ticket items. The recurring profit was posted at Yen 85
million and the net profit at Yen 13 million, respectively, compared with Yen
134 million recurring profit and Yen 73 million net profit, respectively, a
year ago.
For the term that just ended Sept 2011 the recurring profit was
projected at Yen 90 million and the net profit at Yen 15 million, respectively,
on a 5% rise in turnover, to Yen 5,100 million.
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 202.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1950
Regd No.: (Osaka-Chuoku) 085405
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
384,000 shares
Issued: 96,000 shares
Sum: Yen 48 million
Major shareholders (%): Osaka Small & Medium
Business Investment Promotion Co (33), Nobuo Kawai (28), Makiko Kawai (18)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports,
wholesales and retails watches, precious metals, jewelry (--100%)
Wholesales (60%), retails (25%), jewelry (15%)
(Handling Brands): Rolex, Richard
Mille, Erwin Sattler, H Moser & Cie, Speak-Marin, Underwood, Fubuki,
Embryo, other.
Clients: [Department
stores, wholesalers, consumers] Futaba Co, Isetan Mitsukoshi Department Store,
Cronus Co, Sasaya Co, Anshindo Co, Tomiya Corporation, Seamos Co, Kamine Co, I.
I. Isuzu Co, other.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Rolex Japan (50%), Swatch Group Japan, Richemont Japan, Richard
Mille, World Commerce Corp, other.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
· Mizuho Bank (Semba)
· MUFG (Shinanobashi)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
30/09/2011 |
30/09/2010 |
30/09/2009 |
30/09/2008 |
|
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Annual
Sales |
|
5,100 |
4,850 |
5,427 |
7,487 |
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Recur.
Profit |
|
90 |
85 |
134 |
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Net
Profit |
|
15 |
13 |
73 |
172 |
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Total
Assets |
|
|
4,798 |
5,085 |
4,974 |
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Current
Assets |
|
|
4,266 |
4,427 |
|
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Current
Liabs |
|
|
1,316 |
1,531 |
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Net
Worth |
|
|
2,823 |
2,817 |
2,748 |
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Capital,
Paid-Up |
|
|
48 |
48 |
48 |
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Div.
Ttl in Million (¥) |
|
|
7.9 |
4.24 |
3.6 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.15 |
-10.63 |
-27.51 |
2.48 |
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Current Ratio |
|
.. |
324.16 |
289.16 |
.. |
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N.Worth Ratio |
.. |
58.84 |
55.40 |
55.25 |
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R.Profit/Sales |
|
1.76 |
1.75 |
2.47 |
.. |
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N.Profit/Sales |
0.29 |
0.27 |
1.35 |
2.30 |
|
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Return On Equity |
.. |
0.46 |
2.59 |
6.26 |
|
Notes:
Forecast (or estimated) figures for the 30/09/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.03 |
|
UK Pound |
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.66.80 |
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 |
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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 |
|
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 |
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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.