MIRA INFORM REPORT

 

 

Report Date :

28.06.2012

 

IDENTIFICATION DETAILS

 

Name :

TMY CORPORATION

 

 

Registered Office :

3-20-15 Shirogane Showaku Nagoya 466-8711

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

October 1947

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export of automotive parts & components

 

 

No. of Employees :

305

 

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 :

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 – 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

 

TMY CORPORATION

 

 

REGD NAME

 

Tatsumiya Kogyo KK

 

 

MAIN OFFICE

 

3-20-15 Shirogane Showaku Nagoya 466-8711 JAPAN

 

Tel: 052-882-8501     Fax: 052-882-8852

                       

*.. The given address is its Overseas Division at: 2-4-51 Nakajima Nishiyodogawaku Osaka, as given

 

URL:                             http://www.tmy-net.co.jp

E-Mail address:            tokatsu@tmy-net.co.jp

 

 

ACTIVITIES  

 

Import, export of automotive parts & components

 

 

BRANCHES

 

Domestic 36; overseas 63

 

 

OFFICERS

 

MIYOSHI HAJI, PRES                Otohiko Aoki, ch

Ginjiro Morita, s/mgn dir             Takashi Kurata, mgn dir

Ichitame Oshima, mgn dir                       Kunio Kubo, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 49,332 M

PAYMENTS      REGULAR                     CAPITAL           Yen 150 M

TREND UP                                WORTH            Yen 15,536 M

STARTED         1947                             EMPLOYES      305

 

 

COMMENT

 

TRADING HOUSE SPECIALIZING IN AUTOMOTIVE PARTS & COM- PONETS.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDIARYBUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company is a specialized trader of automotive parts & components such as suspension, clutches, brakes, other.  Also handles special steel products.  36 branches domestic and 63 overseas cover the nationwide and worldwide operations.  Business keeps growing on the back of robust automobile industry.

 

 

FINANCIAL INFORMATION

           

The sales volume for Dec/2011 fiscal term amounted to Yen 49,382 million, a 5% up from Yen 46,816 million in the previous term.  Exports into China and S/E Asia rose.  The recurring profit was posted at Yen 2,017 million and the net profit at Yen 994 million, respectively, compared with Yen 1,895 million recurring profit and Yen 678 million net profit, respectively, a year ago.

 

For the current term ending Dec 2012 the recurring profit is projected at Yen 2,100 million and the net profit at Yen 1,000 million, respectively, on a 5% rise in turnover, to Yen 51,700 million.

 

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

 

 

REGISTRATION

 

Date Registered:  Oct 1947

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         1.2 million shares

Issued:                300,000 shares

Sum:                   Yen 150 million

Major shareholders (%): Otohiko Aoki (24.1), Yoshio Joh (10.7), Aichi Steel Corp (10), Ikuyo Joh (9)

 

No. of shareholders: 75

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales automotive parts & components (--70%), special steel products (30%). Exports (27%)

 

Clients: [Car dealers, wholesalers] Autobacks Seven, Aichi Steel Corp, ADL, other. 

            No. of accounts: 500

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Aichi Steel Corp, Nippon Micro Filter, Bando Chemical Ind, Sumitomo Corp, Aisin Seiki, other.

 

Payment record: Regular

 

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

 

Bank References:

MUFG (Nagoya-Chuo)

Resona Bank (Nagoya)

Relations: Satisfactory.

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/12/2012

31/12/2011

31/12/2010

31/12/2009

Annual Sales

　

51,700

49,332

46,846

39,308

Recur. Profit

　

2,100

2,017

1,895

1,249

Net Profit

　

1,000

994

678

970

Total Assets

　

　

32,111

30,592

27,421

Current Assets

　

　

25,910

24,767

　

Current Liabs

　

　

14,529

14,242

　

Net Worth

　

　

15,536

14,524

13,562

Capital, Paid-Up

　

　

150

150

150

Div.P.Share(¥)

　

　

10.00

10.00

10.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.80

5.31

19.18

-27.48

    Current Ratio

 

..

178.33

173.90

..

    N.Worth Ratio

..

48.38

47.48

49.46

    R.Profit/Sales

 

4.06

4.09

4.05

3.18

    N.Profit/Sales

1.93

2.01

1.45

2.47

    Return On Equity

..

6.40

4.67

7.15

 

Notes:　Forecast (or estimated) for the 31/12/2012 fiscal term.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.22

UK Pound

1

Rs.89.42

Euro

1

Rs.71.46

 

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%)

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.