MIRA INFORM REPORT
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Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
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Name : |
TOYOSHIMA & CO LTD |
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Registered Office : |
2-15-15 Nishiki
Nakaku Nagoya 460-0003 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
June
1918 |
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Com. Reg. No.: |
(Aichi-Ichinomiya)
083272 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
Export, Wholesale of textile raw materials, yarns, fabrics, products |
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No. of Employees
: |
457 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
a1 |
a1 |
|
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 |
TOYOSHIMA & CO LTD
Toyoshima KK
2-15-15 Nishiki
Nakaku Nagoya 460-0003 JAPAN
Tel:
052-204-7711 Fax: 052-204-7425
*.. Registered at: 2-5-11 Sen’I Ichinomiya Aichi-Pref
URL: http://www.toyoshima.co.jp/
E-Mail address: webmaster@toyoshima.co.jp
Import,
export, wholesale of textile raw materials, yarns, fabrics, products
Tokyo,
Hamamatsu (Shizuoka), Ichinomiya
Jakarta,
Hong Kong, Milan, Los Angeles, Memphis, Shanghai
(Subsidiaries):
China (3), USA (Toyoshima USA Inc)
(JV’s):
China (2)
(subcontracted)
TOSHIAKI
TOYOSHIMA, PRES Toshihide Takatsuka, mgn dir
Takashi Shimazaki, mgn dir Mikihito Kojima, dir
Hiroshi Onoki, dir Katsuyuki
Yamada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 192,460 M
PAYMENTS
REGULAR CAPITAL Yen 3,000 M
TREND UP WORTH Yen 46,583 M
STARTED 1918 EMPLOYES 457
TRADING HOUSE SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 6,802.2 MILLION, 30 DAYS NORMAL TERMS.
This is a time-honored firm established on the basis of the old
established firm, as Hanshichi Tyoshima Itoten, Aichi-Pref, founded in 1841 by
Hanshichi Toyoshima, and has been succeeded the founder’s descendants. This is a synthesizing wholesaler of textiles
from wool, yarn, fabrics to clothing.
Domestically placed 6th in the similar business line. Has two JV factories in China. Overseas subsidiaries are: China (3), USA
(1). Clients are major textile mfrs,
apparel chain stores, other, nationwide.
The sales volume for Jun/2011 fiscal term amounted to Yen 192,460
million, a 27% up from Yen 151,407 million in the previous term. This is attributed to the merge of 11
subsidiaries during the term and sales expanded. Also exports rose into China and other JV
and/or subsidiary factories overseas.
The recurring profit was posted at Yen 5,089 million and the net profit
at Yen 2,772 million, respectively, compared with Yen 5,817 million recurring
profit and Yen 3,908 million net profit, respectively, a year ago. Wrote off Yen 366 million as extraordinary
losses.
For the current term ending Jun 2012 the recurring profit is projected
at Yen 5,200 million and the net profit at Yen 2,900 million, respectively, on
a 7% rise in turnover, to Yen 205,000 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 6,802.2 million, on 30 days normal terms.
Date Registered: Jun 1918
Regd No.: (Aichi-Ichinomiya) 083272
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
120 million shares
Issued:
30 million shares
Sum: Yen 3,000 million
Major shareholders (%): Employees’ S/Holding Assn
(27.9), Executives’ S/Holding Assn (15.6), Yumiko Toyoshima (8.6), Keiko
Toyoshima (7.4), Yuri Toyoshima (7.4), Chikako Uchida (7.4)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house
for import, export and wholesale of textiles: cotton, wool, other textile raw
materials (--18%), cotton yarn, woolen yarn, man-made fibers (-- 8%), cotton fabrics, woolen fabrics, synthetic
fiber fabrics (--12%), clothing for men, women, children, other textile goods
(--60%), machinery, industrial materials, other non-textile goods (--2%).
Goods are also imported and exported (Overseas trading ratio 13%).
Clients: [Textile mfrs,
wholesalers, apparel stores] Kondo Bosekisho, Tsuzuki Spinning, Kanematsu Corp, Kowa Co, Kowa Spinning, Onward
Kashiyama, Right On, Point Inc, Cross Plus Inc, F-Lead Co, Kurabo Ind, Yutaka
Corp, other.
No. of accounts: 2,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Kondo Bosekisho, Toray Ind, Kuraray, Teijin Ltd, Blue Mate,
Daiwabo Co, Toyobo Co, Tsuzuki Spinning, other.
mports
from Toyoshima USA, China, other.
Payment record:
Regular
Location:
Business area in Nagoya. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
· MUFG (Nagoya)
· Mizuho Corporate Bank (Nagoya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2012 |
30/06/2011 |
30/06/2010 |
30/06/2009 |
|
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Annual
Sales |
|
205,000 |
192,460 |
151,407 |
149,939 |
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Recur.
Profit |
|
5,200 |
5,089 |
5,817 |
4,730 |
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Net
Profit |
|
2,900 |
2,772 |
3,908 |
2,343 |
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Total
Assets |
|
|
105,398 |
90,362 |
89,210 |
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Current
Assets |
|
|
67,867 |
57,811 |
53,865 |
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Current
Liabs |
|
|
54,666 |
41,761 |
40,480 |
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Net
Worth |
|
|
46,583 |
44,705 |
43,208 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
30.00 |
30.00 |
24.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
6.52 |
27.11 |
0.98 |
-7.27 |
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Current Ratio |
|
.. |
124.15 |
138.43 |
133.07 |
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N.Worth Ratio |
.. |
44.20 |
49.47 |
48.43 |
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R.Profit/Sales |
|
2.54 |
2.64 |
3.84 |
3.15 |
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N.Profit/Sales |
1.41 |
1.44 |
2.58 |
1.56 |
|
|
Return On Equity |
.. |
5.95 |
8.74 |
5.42 |
|
Notes:
Forecast (or estimated) figures for the 30/06/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)