MIRA INFORM REPORT

 

 

Report Date :           

01.02.2012

 

IDENTIFICATION DETAILS

 

Name :

TOSHIN KOYO CO LTD

 

 

Registered Office :

9-11-36 Minamimukonoso Amagasaki Hyogo-Pref 661-0033

 

 

Country :

Japan

 

 

Financials (as on) :

30.11.2011

 

 

Date of Incorporation :

December 1955

 

 

Com. Reg. No.:

(Hyogo-Amagasaki) 050154

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of dyeing machines

 

 

No. of Employees :

65

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Yen 245.6 Million

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

TOSHIN KOYO CO LTD

 

 

REGD NAME

 

Toshin Kogyo KK

 

 

MAIN OFFICE

 

9-11-36 Minamimukonoso Amagasaki Hyogo-Pref 661-0033 JAPAN

Tel: 06-6438-0901      Fax: 06-6437-6423

                                               

URL:                             http://www.toshin^kogyo.co.jp

E-Mail address:                        info@toshin-kogyo.co.jp

 

 

ACTIVITIES

 

Mfg of dyeing machines

 

 

BRANCHES

 

Nil

 

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

KOICHI ICHINOSE, PRES          Takako Ichinose, mgn dir

Shiro Ichinose, dir                      Tokio Takita, dir                        

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 5,719 M

PAYMENTS                  No Complaints          CAPITAL           Yen 37 M

TREND             SLOW                          WORTH            Yen 3,981 M

STARTED                     1955                             EMPLOYES      65

 

 

COMMENT    

 

MFR OF DYEING MACHINES.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

MAX CREDIT LIMIT: YEN 245.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established by father of Kioicho Ichinose in order to make most of his experience in the subject line of business.  This is a specialized mfr, owned and operated by the Ichinose family, of dyeing machines (See OPERATION).  Machines are exported to worldwide destinations.  Clients include major textile makers, general trading houses, other, nationwide.

 

 

FINANCIAL INFORMATION

           

The sales volume for Nov/2010 fiscal term amounted to Yen 5,719 million, a 38% up from Yen 4,143 million in the previous term.  Exports were robust, particularly into China.  The operations, on the other hand, continued in the red to register Yen 482 million net losses for the term, compared with Yen 201 million net losses a year ago.  The losses are referred to huge NC’s.

 

For the term that ended Nov 2011 the operations were projected to come back to profitability to post Yen 40 million recurring profit and Yen 40 million net profit, respectively, on a 3% rise in turnover, to Yen 5,900 million.  Final results are yet to be released.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 245.6 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:  Dec 1955

Regd No.:         (Hyogo-Amagasaki) 050154

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         300,000 shares

Issued:             75,000 shares

Sum:                   Yen 37.5 million

Major shareholders (%): Takako Ichinose (10), Koichi Ichinose (9), Shiro Ichinose (6), Setsuko Kawasaki (5)

No. of shareholders: 18

 

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



OPERATION

           

Activities: Manufactures dyeing machines: automatic flat screen machines, automatic rotary screen printing machines, automatic rotary screen applicator, flexible mfg system, film-less inkjet engraving machines, automatic color dispensing system, twenty thirty digital inkjet printer for textile, automatic rapid steamer, other (--100%)

 

Clients: [Mfrs, wholesalers] Itochu Corp, Sojitz Corp, Marubeni Corp, Toyota Tsusho Corp, Itochu Systec, Chori Corp, Kanematsu Corp, Tokai Senko KK, Nihon Keisen, Komatsu Seiren Co, other

           

No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Seiren Electronics Co, Kinryo Electric Co, Habajit Japan, Tsuchiya Seisakusho, Matsuoka Seiki Ind, other

 

Payment record: No Complaints

 

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

 

Bank References:

·         SMBC (Koshienguchi)

·         Mizuho Bank (Amagasaki)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/11/2011

30/11/2010

30/11/2009

30/11/2008

Annual Sales

　

5,900

5,719

4,143

5,968

Recur. Profit

　

40

29

-152

　

Net Profit

　

40

-492

-201

45

Total Assets

　

　

6,984

7,450

6,611

Current Assets

　

　

5,943

6,158

　

Current Liabs

　

　

1,861

2,024

　

Net Worth

　

　

3,981

4,476

4,681

Capital, Paid-Up

　

　

37

37

37

Div.P.Share(¥)

　

　

2.70

2.70

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.16

38.04

-30.58

30.33

    Current Ratio

 

..

319.34

304.25

..

    N.Worth Ratio

..

57.00

60.08

70.81

    R.Profit/Sales

 

0.68

0.51

-3.67

..

    N.Profit/Sales

0.68

-8.60

-4.85

0.75

    Return On Equity

..

-12.36

-4.49

0.96

 

Notes: Forecast (or estimated) figures for the 30/11/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.68

UK Pound

1

Rs.78.17

Euro

1

Rs.65.52

 

 

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.