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Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
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Name : |
TOKAI CO LTD |
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Registered Office : |
3-6-3 Bandai Tendo City Yamagata-Pref |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
November
1976 |
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Com. Reg. No.: |
3900-01-004518
(Yamagata-Tendo) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of optical lenses, prisms, other |
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No. of Employees : |
53 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 20.1 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small
defense allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s
that required a protracted period of time for firms to reduce excess debt,
capital, and labor. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2011. A sharp downturn in
business investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. Government stimulus spending helped the economy recover
in late 2009 and 2010, but the economy contracted again in 2011 as the massive
9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
TOKAI CO LTD
Tokai KK
2-1-16 Higashibenzai
Asaka Saitama-Pref351-0022 JAPAN
Tel:
048-451-3393
*.. Registered at: 3-6-3 Bandai Tendo City Yamagata-Pref
E-Mail address: infodesk@tokai-inc.jp
Mfg of
optical lenses, prisms, other
Nil
Tendo
City (Yamagata-Pref)
MASAYOSHI
TOKAIRIN, PRES
Masaki
Tokairin, mgn dir Kunie
Tokairin, dir
Yuichi
Takeda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,100 M
PAYMENTSNo Complaints
CAPITAL Yen 50 M
TREND STEADY WORTH Yen 53 M
STARTED 1976 EMPLOYES 53
MFR OF OPTICAL LENSES, PRISMS, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 20.1 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Masayoshi Tokairin in order to make most of his experience in the subject line of business. This is a specialized mfr, owned and operated by the Tokairin family, of optical instruments: optical lenses, prisms, other. Clients include major electronic makers, lenses makers, other.
Financials are only partially disclosed as is the case with family-based companies.
The sales volume for Apr/2012 fiscal term amounted to Yen 1,100 million, a 2% up from Yen 1,082 million in the previous term. The net profit was posted at Yen 54 million, compared with Yen 29 million a year ago.
For the current term ending Apr 2013 the net profit is projected at Yen 55 million, on a 5% rise in turnover, to Yen 1,150 million. Business is steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 20.1 million, on 30 days normal terms.
Date Registered: Nov 1976
Regd No.: 3900-01-004518 (Yamagata-Tendo)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
4,000 shares
Issued:
1,000 shares
Sum: Yen 50 million
Major shareholders (%): Masayoshi Tokairin (81.4),
Kunie Tokairin (10), Masaki Tokairin (7.6), Yuichi Takeda (1)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures optical instruments: optical lenses, prisms, vacuum thin films, other (--100%)
Clients: [Mfrs, wholesalers] Kyocera Crystal Device Hokkaido, AGC Electronics, Canon Inc, Fuji Film, Hoya Corp, Nikon Corp, Topcon Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kyocera Crystal Device Hokkaido, Shincron Co, Showa Shinku Co, Fuji Mechanic, Panasonic Corp, Solutec Co, Yamaji Glass Ind, other
Payment record: No Complaints
Location: Business area in Asaka City, Suita-Pref. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Sawayaka
Bank (Omiya)
Sugamo
Shinkin Bank (Asakadai)
Relations:
Satisfactory
(In Million Yen)
|
|
|
30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
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Annual
Sales |
|
1,150 |
1,100 |
1,082 |
1,339 |
|
Recur.
Profit |
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|
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|
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Net
Profit |
|
55 |
54 |
29 |
17 |
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Total
Assets |
|
|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
806 |
752 |
723 |
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Capital,
Paid-Up |
|
|
50 |
50 |
50 |
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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 |
4.55 |
1.66 |
-19.19 |
47.14 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
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N.Profit/Sales |
4.78 |
4.91 |
2.68 |
1.27 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.