MIRA INFORM REPORT

 

 

Report Date :           

29.09.2011

 

IDENTIFICATION DETAILS

 

Name :

TOYOTEC CO LTD

 

 

Registered Office :

2-35 Nishi-Yutakamachi Toyokawa Aichi-Pref

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

November 1960

 

 

Com. Reg. No.:

(Aichi-Toyokawa) 010369

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of optical lenses, optical molds

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 81.9 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

TOYOTEC CO LTD

 

 

REGD NAME

 

KK Toyotec

 

 

MAIN OFFICE

 

2-35 Nishi-Yutakamachi Toyokawa Aichi-Pref JAPAN

Tel: 0533-85-1110      Fax: 0533-85-1458

                                               

URL:                             http://www.toyotec.com

E-Mail address:                        toyotecsales@toyotec.com

 

 

ACTIVITIES  

 

Mfg of optical lenses, optical molds

 

 

BRANCHES   

 

Nil

 

 

OVERSEAS

 

Hong Kong, China (subsidiary factories)

 

 

FACTORIES

 

At the caption address

 

OFFICERS

 

YOSHIAKI ONO, PRES                          Fumiyuki Suzuki, v pres

Teruji Suzuki, v pres                               Satoru Ono, s/mgn dir

Mitsuharu Kitagawa, mgn dir                   Masayuki Matsumoto, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 5,377 M

PAYMENTS      REGULAR                     CAPITAL           Yen 80 M

TREND             SLOW                          WORTH            Yen 1,431 M

STARTED                     1960                             EMPLOYES      155

 

 

COMMENT    

 

MFR OF OPTICAL LENSES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 81.9 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by Takeyoshi Ono in order to make optical lenses and has been succeeded by his descendants.  This is a specialized mfr of optical lenses, plastic lenses, other.  Operates mfg plants in Hong Kong and China.  Clients include camera makers, precision makers, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 5,377 million, a 1% down from Yen 5,448 million in the previous term.  The recurring profit was posted at Yen 106 million and the net profit at Yen 103 million, respectively, compared with Yen 134 million net losses a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 110 million and the net profit at Yen 105 million, respectively, on a 4% rise in turnover, to Yen 5,600 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 81.9 million, on 30 days normal terms.

 

REGISTRATION

 

Date Registered:  Nov 1960

Regd No.:         (Aichi-Toyokawa) 010369

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         640,000 shares

Issued:                160,000 shares

Sum:                   Yen 80 million

Major shareholders (%): OMC (31.2), Satoru Ono (12), Yoshiaki Ono (10), Teruji Suzuki (3), Fumiyuki Suzuki (2)

 

No. of shareholders: 54

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures optical glass lenses, prisma, plastic lenses, engineering plastic parts, precision mold leaf, machine & tools (--100%)

 

Clients: [Mfrs, wholesalers] Konica Minolta Business Technologies, Brother sales Ltd, Seiko-Epson Co, Sanyo Electric Ind, Panasonic Corp, Tamron Co, other

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Hoya Corp, Jucoh Co, Omicron Nano Technology Japan, Shinano Camera Kogyo, other

Imports from China & Hong Kong (--subsidiary makers)

 

Payment record: Regular

 

Location: Business area in Toyokawa, Aichi-Pref.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Shoko Chukin Bank (Toyohashi)

Toyokawa Shinkin Bank (H/O)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

5,600

5,377

5,448

6,199

Recur. Profit

　

110

106

　

　

Net Profit

　

100

103

-134

43

Total Assets

　

　

5,709

　

　

Current Assets

　

　

3,243

　

　

Current Liabs

　

　

635

　

　

Net Worth

　

　

1,431

1,328

1,462

Capital, Paid-Up

　

　

80

80

80

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

4.15

-1.30

-12.11

-12.90

       Current Ratio

 

..

510.71

..

..

       N.Worth Ratio

..

25.07

..

..

       R.Profit/Sales

 

1.96

1.97

..

..

       N.Profit/Sales

1.79

1.92

-2.46

0.69

       Return On Equity

..

7.20

-10.09

2.94

 

Notes: Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.91

UK Pound

1

Rs.76.53

Euro

1

Rs.66.43

 

 

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.