MIRA INFORM REPORT
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Report Date : |
28.04.2012 |
IDENTIFICATION DETAILS
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Name : |
JTC CORPORATION |
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Registered Office : |
Nakanoshima Daibiru 805, 3-3-23 Nakanoshima Kitaku |
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Country : |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
November
1946 |
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Com. Reg. No.: |
(Osaka-Kitaku)
064845 |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter
(as agent) of automotive tires, rubber materials, rubber products |
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No. of Employees : |
10 |
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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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
JTC CORPORATION
JTC KK
Nakanoshima Daibiru 805, 3-3-23 Nakanoshima Kitaku Osaka 530-0005 JAPAN
Tel:
06-6910-3800 Fax: 06-6910-2270
URL: http://www.jtcnet.co.jp
E-Mail address: since1935@jtcnet.co.jp
Export
(as agent) of automotive tires, rubber materials, rubber products
Nil
Mumbai,
Teheran, New Delhi (--affiliates) (See REGISTRATION)
ICHIRO
FUJIMURA, PRES
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 3,224 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND SLOW WORTH Yen
201 M
STARTED 1946 EMPLOYES 10
COMMISSION MERCHANT FOR EXPORTING AUTOMOTIVE TIRES, OTHER RUBBER PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1935 by Kazunori
Fujimura in Shanghai (China) as a trading firm, on his account. Incorporated in 1946 as Jinsing Trading KK in
Osaka. Ichiro is the fourth generation
master, who took the pres office in Jun 2007.
In 1998, renamed as captioned. This
is a family-based trading firm, owned and managed by the Fujimura family, for
exporting automotive tires, packing, valves, gaskets, other, including rubber
raw materials and chemicals. Major
clients are in India and Iran, where the firm operates three JV’s: two in India
and one in Iran (See REGISTRATION).
The commission revenues for Apr/2011 fiscal term amounted to Yen 3,224
million, a 23% down from Yen 4,191 million in the previous term. Demand remained strong, but the products
supplies were negatively affected by the Great North Japan Earthquake that
struck the northern Japan on 11/03/2011.
Factories there were damaged or destroyed with supplies detained,
stopped or shortened thereby. High Yen
also hurt sales revenues & profits in Yen terms. The recurring profit was posted at Yen 13
million and the net profit at yen 14 million, respectively, compared with Yen
84 million recurring profit and Yen 70 million net profit, respectively, a year
ago.
For the current term ending Apr 2012 the recurring profit is projected
at Yen 15 million and the net profit at Yen 15 million, respectively, on a 4%
rise in turnover, to Yen 3,350 million.
Exports to India are steadily rising.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Nov 1946
Regd No.: (Osaka-Kitaku) 064845
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2.4 million shares
Issued: 600,000
shares
Sum: Yen 30 million
Major shareholders (%):
Tatsuo Fujimura (80), Masako Fujimura (10)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality of
executives.
Related companies:
Bombay Chemical & Rubber Products (Mumbai); JMF Synthetics Private
Ltd (New Delhi), JV with Mitsufuku Ind (special compound mfr, Tochigi-Pref), JTC Corp and Bombay Chemical
Rubber Products; Baspar Taban Co (Mashad, Iran), automotive rubber parts mfr,
in which JTC has 15% share; GBL General Trading LLC (Dubai).
Activities: Exports as commission
agent automotive tires, gaskets, valves, EDPM, rubber raw materials, rubber mfg
machinery, other industrial chemicals (--100%).
Clients: [Mfrs,
wholesalers] Exports to India, Iran, Indonesia, Thailand, Taiwan, Hong Kong,
Malaysia, Pakistan, Korea, China, UAE, Kuwait, Tunisia, Germany, USA, other.
No. of accounts: Unavailable
Domestic areas of activities: Centered in
greater-Osaka
Suppliers: [Mfrs,
wholesalers] JSR Corp (40%), Nippon Electric Glass, Pacific Industrial Corp,
Kobe Steel, Bridgestone Cycle, Tosoh Corp, Hitachi Ltd, Seiko Chemical, Sanshin
Chemical Ind, Mitsui Chemicals Ind, Nippon Roll Mfg, Kuraray Co, Arakawa
Chemical Ind, Takehara Kagaku Kogyo, other.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
· MUFG (Osaka-Chuo)
· SMBC (Tenmabashi)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
30/04/2012 |
30/04/2011 |
30/04/2010 |
30/04/2009 |
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Annual
Sales |
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3,350 |
3,224 |
4,191 |
2,136 |
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Recur.
Profit |
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15 |
13 |
84 |
86 |
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Net
Profit |
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15 |
14 |
70 |
-60 |
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Total
Assets |
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1,110 |
1,160 |
933 |
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Current
Assets |
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1,039 |
1,098 |
869 |
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Current
Liabs |
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754 |
793 |
550 |
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Net
Worth |
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201 |
190 |
119 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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Div.P.Share(¥) |
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55.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.91 |
-23.07 |
96.21 |
14.65 |
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Current Ratio |
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.. |
137.80 |
138.46 |
158.00 |
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N.Worth Ratio |
.. |
18.11 |
16.38 |
12.75 |
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R.Profit/Sales |
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0.45 |
0.40 |
2.00 |
4.03 |
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N.Profit/Sales |
0.45 |
0.43 |
1.67 |
-2.81 |
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Return On Equity |
.. |
6.97 |
36.84 |
-50.42 |
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Notes:
Forecast (or estimated) for the 30/04/2012 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.52.68 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.