MIRA INFORM REPORT

 

 

Report Date :           

14.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TOYOSHIMA & CO LTD

 

 

Registered Office :

2-15-15 Nishiki Nakaku Nagoya 460-0003

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

June 1918

 

 

Com. Reg. No.:

(Aichi-Ichinomiya) 083272

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of textile raw materials, yarns, fabrics, products

 

 

No. of Employees :

457

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Yen 6,802.2 Million

Status :

Good

Payment Behaviour :

Regular

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

 

TOYOSHIMA & CO LTD

 

 

REGD NAME

 

Toyoshima KK

 

 

MAIN OFFICE

 

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

 

 

ACTIVITIES

 

Import, export, wholesale of textile raw materials, yarns, fabrics, products

 

 

BRANCHES

 

Tokyo, Hamamatsu (Shizuoka), Ichinomiya

 

 

OVERSEAS

 

Jakarta, Hong Kong, Milan, Los Angeles, Memphis, Shanghai

(Subsidiaries): China (3), USA (Toyoshima USA Inc)

(JV’s): China (2)

 

 

FACTORIES

 

(subcontracted)

 

OFFICERS

 

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

 

 

SUMMARY    

 

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

 

 

COMMENT

 

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.

 

 

HIGHLIGHTS

 

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.

 

 

FINANCIAL INFORMATION

           

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.

 

 

ReGISTRATION

 

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.

 

 

OPERATION

 

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

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

30/06/2012

30/06/2011

30/06/2010

30/06/2009

Annual Sales

　

205,000

192,460

151,407

149,939

Recur. Profit

　

5,200

5,089

5,817

4,730

Net Profit

　

2,900

2,772

3,908

2,343

Total Assets

　

　

105,398

90,362

89,210

Current Assets

　

　

67,867

57,811

53,865

Current Liabs

　

　

54,666

41,761

40,480

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>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.52

27.11

0.98

-7.27

    Current Ratio

 

..

124.15

138.43

133.07

    N.Worth Ratio

..

44.20

49.47

48.43

    R.Profit/Sales

 

2.54

2.64

3.84

3.15

    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.51.43

UK Pound

1

Rs.79.10

Euro

1

Rs.66.17

 

 

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.