MIRA
INFORM REPORT
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Report Date : |
24.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TOPPAN COSMO INC |
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Registered Office : |
Toppan Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
January 1961 |
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Com. Reg. No.: |
(Tokyo-Minatoku) 033001 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of housing kits, ceiling plywood, flooring, decorative sheet |
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 2,378.7 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Japan
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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 and address
TOPPAN COSMO INC
REGD NAME: KK
Toppan Cosmo
MAIN OFFICE: Toppan
Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel: 03-5418-3700 Fax: 03-5418-3704
URL: http://www.toppan-cosmo.jmjp
E-Mail address: (thru the URL)
ACTIVITIES
Wholesale of
housing kits, ceiling plywood, flooring, decorative sheet
BRANCHES
Nagoya, Osaka,
Sendai, Fukuoka, Sapporo, Toyama (Tot 24)
FACTORIES
Fukuoka
OFFICERS
KOJI IWASAKI, PRES Yoshio Itmura, ch
Toshiaki Sugimura,
s/mgn dir Kenji
Katsurata, mgn dir
Yuzo Shoji, mgn
dir Naoki
Adachi, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 70,158 M
PAYMENTS REGULAR CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen
15,080 M
STARTED 1963 EMPLOYES 505
COMMENT
WHOLESALER SPECIALIZING BUILDING MATERIALS, OWNED BY TOPPAN
PRINTING.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 2,378.7 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
by Toppan Printing Co as its trading division.
This is a trading firm specializing in building materials, flooring,
ceiling plywood, other. Goods are
exported.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 70,158 million, a 4% up from Yen 67,501 million in the
previous term. The operations continued
in the red to register red ink for three consecutive years; recurring loss was
posted at Yen 929 and net loss at Yen 1,127 million, respectively, compared
with Yen 163 recurring loss and Yen 2,404 million net loss, respectively, a
year ago. Material price hikes and high
Yen ate into profits.
For the current term ending Mar 2012
the operations are projected to return profitability to post Yen 100 million net
profit, on a 5% rise in turnover, to Yen 73,600 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 2,378.7 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Jan
1961
Regd No.:
(Tokyo-Minatoku) 033001
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 24 million shares
Issued: 6 million shares
Sum: Yen 3,000 million
Major
shareholders (%): Toppan Printing Co Ltd* (100)
*.. One of two largest printing companies,
known for steady management, founded 1908,
Listed Tokyo S/E, capital Yen 104,986
million, sales Yen 1,556,457 million, operating profit Yen 45,008 million,
recurring profit Yen 44,522 million, net profit Yen 12,153 million, total
assets Yen 1,694328 million, net worth Yen 864,016 million, employees 48,197,
pres Shingo Kaneko
Consolidated
financials are attached (See SUPPLEMENTS)
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities: Wholesales
building/construction materials (80.8%), development-related materials (19.2%
Clients: [Mfrs,
wholesalers] Toppan Printing, Toppan Int’l America, LIXIL, Toppan NEC Circuit
Solutions, Aica Kogyo Co, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Aica Kogyo Co, Toppan Printing, Toppan Kenso Products, Panasonic
Electric Works, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned by the parent, Toppan Printing Co, and maintained
satisfactorily.
Bank References:
MUFG (Tamachi)
SMBC (Nihombashi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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73,600 |
70,158 |
67,501 |
82,161 |
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Recur.
Profit |
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100 |
-929 |
-1,625 |
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Net
Profit |
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100 |
-1,127 |
-2,401 |
-1,603 |
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Total
Assets |
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34,187 |
33,807 |
37,224 |
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Current
Assets |
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27,318 |
26,357 |
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Current
Liabs |
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17,794 |
16,283 |
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Net
Worth |
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15,080 |
16,153 |
16,490 |
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Capital,
Paid-Up |
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3,000 |
3,000 |
3,000 |
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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 |
4.91 |
3.94 |
-17.84 |
-12.31 |
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Current Ratio |
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.. |
153.52 |
161.87 |
.. |
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N.Worth Ratio |
.. |
44.11 |
47.78 |
44.30 |
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R.Profit/Sales |
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0.14 |
-1.32 |
-2.41 |
.. |
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N.Profit/Sales |
0.14 |
-1.61 |
-3.56 |
-1.95 |
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Return On Equity |
.. |
-7.47 |
-14.86 |
-9.72 |
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Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDTED FINANCIALS OF THE PARENT, TOPPAN
PRINTING CO LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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1,556,457 |
1,506,750 |
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Cost of Sales |
1,297,382 |
1,261,483 |
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GROSS PROFIT |
259,074 |
245,267 |
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Selling & Adm Costs |
214,065 |
207,029 |
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OPERATING PROFIT |
45,008 |
38,237 |
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Non-Operating P/L |
-486 |
954 |
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RECURRING PROFIT |
44,522 |
39,191 |
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NET PROFIT |
12,153 |
11,703 |
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BALANCE SHEET |
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Cash |
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191,983 |
197,848 |
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Receivables |
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431,489 |
422,045 |
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Inventory |
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103,935 |
90,296 |
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Securities, Marketable |
94,956 |
52,585 |
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Other Current Assets |
26,879 |
26,175 |
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TOTAL CURRENT ASSETS |
849,242 |
788,949 |
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Property & Equipment |
608,615 |
632,793 |
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Intangibles |
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19,817 |
22,890 |
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Investments, Other Fixed Assets |
216,654 |
221,062 |
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TOTAL ASSETS |
1,694,328 |
1,665,694 |
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Payables |
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284,168 |
281,472 |
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Short-Term Bank Loans |
15,371 |
13,668 |
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Other Current Liabs |
153,581 |
108,424 |
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TOTAL CURRENT LIABS |
453,120 |
403,564 |
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Debentures |
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118,252 |
119,482 |
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Long-Term Bank Loans |
127,963 |
106,347 |
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Reserve for Retirement Allw |
45,328 |
48,136 |
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Other Debts |
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85,648 |
114,139 |
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TOTAL LIABILITIES |
830,311 |
791,668 |
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MINORITY INTERESTS |
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Common
stock |
104,986 |
104,986 |
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Additional
paid-in capital |
117,738 |
117,738 |
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Retained
earnings |
582,329 |
584,342 |
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Evaluation
p/l on investments/securities |
6,576 |
11,445 |
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Others |
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107,713 |
110,403 |
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Treasury
stock, at cost |
(55,326) |
(54,888) |
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TOTAL S/HOLDERS` EQUITY |
864,016 |
874,026 |
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TOTAL EQUITIES |
1,694,328 |
1,665,694 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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96,893 |
104,339 |
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Cash Flows
from Investment Activities |
-46,882 |
-12,933 |
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Cash
Flows from Financing Activities |
2,811 |
-29,497 |
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Cash,
Bank Deposits at the Term End |
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288,461 |
238,032 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
864,016 |
874,026 |
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Current
Ratio (%) |
187.42 |
195.50 |
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Net
Worth Ratio (%) |
50.99 |
52.47 |
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Recurring
Profit Ratio (%) |
2.86 |
2.60 |
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Net Profit
Ratio (%) |
0.78 |
0.78 |
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Return
On Equity (%) |
1.41 |
1.34 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.06 |
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1 |
Rs.79.15 |
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Euro |
1 |
Rs.69.03 |
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.