MIRA INFORM REPORT

 

 

Report Date :

09.06.2012

 

IDENTIFICATION DETAILS

 

Name :

TOKYO KEISO CO LTD

 

 

Registered Office :

Shiba Toho Bldg, 1-7-24 Shibakoen Minatoku Tokyo 106-0001

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

November  1954

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of flow meter & level gauges

 

 

No. of Employees :

560

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

TOKYO KEISO CO LTD

REGD NAME:    Tokyo Keiso KK

MAIN OFFICE:  Shiba Toho Bldg, 1-7-24 Shibakoen Minatoku Tokyo 106-0001 JAPAN

Tel: 03-3434-0441          Fax: 03-3433-4922

                       

URL:                 http://wwwtokyokeiso.co.jp

E-Mail address: overseas.sales@tokyokeiso.co.jp

 

 

ACTIVITIES

 

Mfg of flow meter & level gauges

 

BRANCHES

 

Sendai, Mito, Matsumoto, Toyama, Osaka, Atsugi, Fuji, Nagoya, Osaka, Okayama,

Yamaguchi, Kitakyushu, Kumamoto

 

OVERSEAS   

 

Vietnam, China (7), India, Indonesia, Korea, Kuwait, Malaysia, Philippines, Qatar,

Singapore, Taiwan (4), Thailand, UAE, Canada (3), Netherlands, Belgium, Finland,

Hungary, Italy, South Africa (--sales agents)

 

FACTORY

 

Yokohama (2), Mito

 

 

OFFICERS

 

TOKIO SUGI, PRES                   Ryoichi Sugi, s/mgn dir

Shin’ichi Takanoyama, mgn dir    Katsumi Kasahara, mgn dir                                            

Seiji Kondo, mgn dir                   Akira Nakayama, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 16,917 M

PAYMENTS REGULAR  CAPITAL           Yen 99 M

TREND SLOW              WORTH            Yen 9,780 M

STARTED         1954                 EMPLOYES      560

 

 

COMMENT

 

MFR OF FLOW METER & LEVEL GAUGES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY

BUSINESS ENGAGEMENTS.

           

           

HIGHLIGHTS

           

            The subject company was established by T Takanoyama for mfg variable area flow meters.  In 1957 added level instruments.  In 1978 released tank gauges for marine tankers.  In 1994, distributor agreement closed with McCrometer of USA.  In 1995, distributor agreement with Auxitrol of France.  In 1996, distributor agreement with MTS of USA.  In 1997, established JV Flow Level Engineering Pte Ltd in Singapore.  In 1999, established Tokyo Keiso Korea.  In 1999, OEM agreement closed with Norton Performance Plastics & Norton ASTI.  In 2002, established Shanghai Factory.  Specializes in mg flow meters, level gauges, other.  Top-ranked in the specific production items.  Clients include major mfrs.

 

 

FINANCIAL INFORMATION

           

            Financials are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 16,917 million, a 33% up from Yen 12,700 million in the previous term.  The newly established factory in Okinawa contributed to the sales growth.  The net profit was posted at Yen 419 million, compared with Yen 710 million a year ago.  Rising costs of materials & operations ate into profits.  High Yen also hurt export sales revenues in Yen tems.

 

For the term just ended Mar 2012 the net profit was projected at Yen 430 million, on a 6% rise in turnover, to Yen 18,000 million.  Final results are yet to be released. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Nov 1954

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:       794,400 shares

Issued:　             198,600 shares

Sum:               Yen 99.3 million

Major shareholders (%): Ryoichi Sugi (38.5), Hisako Sugi (15.3), Shinichi Takanoyama

(12.2), Tokio Sugi (1.8),              No. of Shareholders: 8

 

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

 

 

OPERATION

 

Activities: Manufactures flow meters, level gauges, tank gauges for marine tankers (computer-aided tank monitoring systems), flow controller, clamp-type ultrasonic flow meter, torque tube type displacer level transmitter, other (--100%).

 

(Applications for): Thermal & nuclear power plants, steel & non-ferrous plants, oil & petrochemicals plants, chemical/pharmaceutical/biochemical plants, food & beverage plants, semiconductor sector, ventilation/air conditioning/sanitation, environmental field, oil & LNG tankers, other.

 

Clients: [Mfrs, wholesalers] Tokyo Electron, Kurita Water Ind, Ebara Corp, JGC Corp, Toyo Engineering, Toshiba Corp, Chiyoda Corp, Sumitomo Chemical, Mitsui Chemicals Inc, Kuraray Co, other.

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Yokogawa Electric Corp, Minebea Co, AGC Techno Glass,

Showa Rubber, Kurumizawa Seiki, Keiso Kiki Seisakusho, other.

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Asakusabashi)

Resona Bank (Shiba)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

　

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

18,000

16,917

12,700

14,563

Recur. Profit

　

　

　

　

　

Net Profit

　

430

418

710

730

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

9,780

9,488

8,991

Capital, Paid-Up

　

　

99

99

99

Div.P.Share(¥)

　

　

50.00

50.00

50.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.40

33.20

-12.79

-17.18

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.39

2.47

5.59

5.01

 

Note: Financials are only partially disclosed.

Forecast (or estimated) for the 31/03/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.36

UK Pound

1

Rs.85.64

Euro

1

Rs.69.21

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.