|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTEC CO LTD |
|
|
|
|
Registered Office : |
2-35
Nishi-Yutakamachi Toyokawa Aichi-Pref |
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|
|
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
November 1960 |
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|
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Com. Reg. No.: |
1803-01-010369
(Aichi-Toyokawa) |
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Manufacturer
of optical lenses, optical molds |
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|
|
|
No. of Employees : |
152 employees |
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 82.9 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Regular |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
TOYOTEC CO LTD
KK Toyotec
2-35
Nishi-Yutakamachi Toyokawa Aichi-Pref JAPAN
Tel:
0533-85-1110 Fax: 0533-85-1458
E-Mail address: toyotecsales@toyotec.com
Mfg of
optical lenses, optical molds
Toyokawa
(Aichi-Pref), Usuki (Oita-Pref)
Hong
Kong, China (subsidiary factories)
At the
caption address
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
FINANCES FAIR A/SALES Yen 5,170 M
PAYMENTSREGULAR CAPITAL Yen
80 M
TREND SLOW WORTH Yen 1,542 M
STARTED 1960 EMPLOYES 152
MFR OF OPTICAL LENSES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 82.9 MILLION, 30 DAYS NORMAL TERMS
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.
The sales volume for
Mar/2012 fiscal term amounted to Yen 5,170 million, a 4% down from Yen 5,377
million in the previous term. The
recurring profit was posted at Yen 134 million and the net profit at Yen 112
million, respectively, compared with Yen 106 million recurring profit and Yen
103 million net profit, respectively, a year ago.
For the current term
ending Mar 2013 the recurring profit is projected at Yen 140 million and the
net profit at Yen 120 million, respectively, on a 3% rise in turnover, to Yen
5,300 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 82.9
million, on 30 days normal terms.
Date Registered: Nov 1960
Regd No.: 1803-01-010369 (Aichi-Toyokawa)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 80 million
Major shareholders (%): OMC (22.5), Misato Miura
(18.7), Tsuneko Ono (11.8), Satoru Ono (9.3), Yoshiaki Ono (6.2)
No. of shareholders: 54
Nothing
detrimental is known as to the commercial morality of executives.
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,
Suzuka Xerox Co, Symbol Technology, Canon Inc, Yazaki Corp, Olympus Corp, Denso
Corp, 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 City, 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
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
5,300 |
5,170 |
5,377 |
5,448 |
|
Recur.
Profit |
|
140 |
134 |
106 |
|
|
Net
Profit |
|
120 |
112 |
103 |
-134 |
|
Total
Assets |
|
|
5,754 |
5,709 |
N/A |
|
Current
Assets |
|
|
2,850 |
3,243 |
|
|
Current
Liabs |
|
|
618 |
635 |
|
|
Net
Worth |
|
|
1,542 |
1,431 |
1,328 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.51 |
-3.85 |
-1.30 |
-12.11 |
|
|
Current Ratio |
.. |
461.17 |
510.71 |
.. |
|
|
N.Worth Ratio |
.. |
26.80 |
25.07 |
.. |
|
|
R.Profit/Sales |
2.64 |
2.59 |
1.97 |
.. |
|
|
N.Profit/Sales |
2.26 |
2.17 |
1.92 |
-2.46 |
|
|
Return On Equity |
.. |
7.26 |
7.20 |
-10.09 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.