MIRA INFORM REPORT

 

 

Report Date :           

18.01.2012

 

IDENTIFICATION DETAILS

 

Name :

TOKO VALEX CO LTD

 

 

Registered Office :

4-2-17 Matsushima Edogawaku Tokyo 132-0031

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2011

 

 

Date of Incorporation :

February 1957

 

 

Com. Reg. No.:

 (Tokyo-Edogawaku) 005549

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of control valves

 

 

No. of Employees :

60

 

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 21.6 Million

Status :

Satisfactory

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

 

TOKO VALEX CO LTD

 

 

REGD NAME

 

Toko Valex KK

 

 

MAIN OFFICE

 

4-2-17 Matsushima Edogawaku Tokyo 132-0031 JAPAN

Tel: 03-3655-5161      Fax: 03-3655-6769

                                               

URL:                             http://www.toko-valex.co.jp

E-Mail address:                        info@toko-valex.co.jp

 

 

ACTIVITIES  

 

Mfg of control valves

 

 

BRANCHES

 

Osaka

 

 

FACTORIES  

 

At the caption address, Fukushima

 

 

OFFICERS:

 

TATSUYA YOKOYAMA, PRES              Iwao Yokoyama, ch

Tomishige Ueda, mgn dir                        Hideaki Yoshida, mgn dir

Kazumi Saito, dir                                   Tsukio Kanno, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 819 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 30 M

TREND             UP                                WORTH            Yen 527 M

STARTED                     1957                             EMPLOYES      60

 

 

COMMENT    

 

MFR OF CONTROL VALVES.

 

FINANCIAL SITUATION CONSIDERED FAIRFAIR AND GOOD FOR CREDIT ENGAGEMENTS FOR: US$70.00.

                       

MAX CREDIT LIMIT: YEN 21.6 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

The subject company was established originally in 1953 by Tokuichi Yokoyama in order to make most of his experience in the subject line of business.  Incorporated in 1957, the firm has been succeeded by his descendants.  Iwao Yokoyama is his son and Tatsuya is his grandson.  This is a specialized mfr of various kinds of control valves and engineering.  Goods are exported.  Clients include major heavy machinery makers, other, nationwide.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2011 fiscal term amounted to Yen 819 million, an 8% up from Yen 757 million in the previous term.  The recurring profit was posted at Yen 14 million and the net profit at Yen 8 million, respectively, compared with Yen 38 million recurring profit and Yen 3 million net profit, respectively, a year ago.

 

For the current term ending Jan 2012 the recurring profit is projected at Yen 15 million and the net profit at Yen 10 million, respectively, on a 4 rise in turnover, to Yen 850 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 21.6 million, on 30 days normal terms.  The proposed amount is considered well within the firm’s financial capacities.

 

 

REGISTRATION

 

Date Registered:  Feb 1957

Regd No.:         (Tokyo-Edogawaku) 005549

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         240,000 shares

Issued:             60,000 shares

Sum:                   Yen 30 million

Major shareholders (%): Tatsuya Yokoyama (30), Iwao Yokoyama (25), Masayoshi Yokoyama (5)

No. of shareholders: 20

 

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

 

 

OPERATION

           

Activities: Manufactures various kinds of valves & engineering: special low flow control valves, acid-proof control valves, cryogenic control valves, roller valves, other (--100%)

 

Clients: [Mfrs, wholesalers] Mitsubishi Heavy Ind, Kobe Steel Ltd, Ajinomoto Co Inc, Fuji Electric Systems, other

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Takanawa Plastics, UEX, SMC, Palex Engineering Co, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

·         MUFG (Komatsugawa)

·         SMBC (Sin-Koiwa)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/01/2012

31/01/2011

31/01/2010

31/01/2009

Annual Sales

　

850

819

757

984

Recur. Profit

　

15

14

38

　

Net Profit

　

10

8

3

10

Total Assets

　

　

1,207

1,190

1,310

Current Assets

　

　

981

960

　

Current Liabs

　

　

213

133

　

Net Worth

　

　

527

524

526

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

50.00

50.00

50.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.79

8.19

-23.07

-1.60

    Current Ratio

 

..

460.56

721.80

..

    N.Worth Ratio

..

43.66

44.03

40.15

    R.Profit/Sales

 

1.76

1.71

5.02

..

    N.Profit/Sales

1.18

0.98

0.40

1.02

    Return On Equity

..

1.52

0.57

1.90

 

Notes: Forecast (or estimated) figures for the 31/01/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.06

UK Pound

1

Rs.78.48

Euro

1

Rs.64.99

 

 

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.