MIRA INFORM REPORT

 

 

Report Date :           

14.03.2012

 

IDENTIFICATION DETAILS

 

Name :

TOC CO LTD

 

 

Registered Office :

Toc Bldg, 229 Hojo-Umeharacho Himeji Hyogo-Pref 670-0945

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

January 1992

 

 

Com. Reg. No.:

1400-01-060119 (Hyogo-Himeji)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of security equipment, OA business machines

 

 

No. of Employees :

35

 

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 7.5 Million

Status :

Small Company 

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

 

TOC CO LTD

 

 

REGD NAME 

 

KK T. O. C.

 

 

MAIN OFFICE

 

Toc Bldg, 229 Hojo-Umeharacho Himeji Hyogo-Pref 670-0945 JAPAN

Tel: 079-284-7787     Fax: 079-264-7786

 

URL:                 http://www./toc.ne.jp

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Import, export, wholesale of security equipment, OA business machines

 

 

BRANCHES

 

Kobe, Okayama

 

 

OFFICER(S)

 

KOICHI KITANO, PRES                          Hideaki Uetani, s/mgn dir

Masaru Morita, mgn dir                           Kyoko Kitano, dir

Akihiro Shiroshita, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES                    FAIR                             A/SALES          Yen 420 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 30 M

TREND             SLOW                          WORTH            Yen 237 M

STARTED                     1992                             EMPLOYES      35

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN OA EQUIPMENT. 

           

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT  ENGAGEMENTS: US$50,000 / O/A 60 DAYS.

                       

MAX CREDIT LIMIT: YEN 7.5 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1988 by Koichi Kitano, on his account, for selling business machines, and was incorporated in 1992.  This is a trading firm, owned and operated by the Kitano family, for import, export and wholesale of security systems & anti-crime equipment, business-use OA machines & equipment, business phones, digital phones, other.  Clients include leasing companies, business firms, other.

 

 

FINANCIAL INFORMATION

 

Financials are only partially disclosed as is the case with family-based companies.

 

The sales volume for Jul/2011 fiscal term amounted to Yen 420 million, a 4% down from Yen 439 million in the previous term.  Sales were disrupted by the Great North Japan Earthquake in March 2011, while sales of security systems increased.  The net profit was posted at Yen 5 million, compared with Yen 8 million a year ago.

 

For the current term ending July 2012 the net profit is projected at Yen 5 million, on a 2% rise in turnover, to Yen 430 million.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 7.5 million, on 30 days normal terms.  The proposed amount for 60 days terms is considered well within the firm’s financial capacities.

 

 

REGISTRATION

           

Date Registered:  Jan 1992

Regd No.:         1400-01-060119 (Hyogo-Himeji)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         2,400 shares

Issued:              600 shares

Sum:                   Yen 30 million

Major shareholders (%): Koichi Kitano (100)

 

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

 

OPERATION

 

Activities: Imports, exports and wholesales security system, anti-crime equipment (--60%), leasing of copying machines (20%), business phones (10%), PC’s (10%).

(Breakdowns are all about)

 

Clients: [Business firms] Sumishin Panasonic Financial Services, GE Financial Service, Orix Corp, Orient Corporation, Mitsui Sumitomo Finance & Lease, Mitsubishi UFJ Leasing, NEC Capital Solution, Orix Corp, other

            No. of accounts: 300

            Domestic areas of activities: Centered in greater-Osaka

 

Suppliers: [Mfrs, wholesalers] Sanyo Electric, Kokuyo S&T, Casio Information Systems, Daiwabo Information System, Panasonic CC Solutions, Sun Telephone, Atsumi Electric, other.

 

Payment record: Regular

 

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

 

Bank References:

Nishi Hyogo Shinkin Bank (Harima)

SMBC (Himeji)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/07/2012

31/07/2011

31/07/2010

31/07/2009

Annual Sales

　

430

420

439

427

Recur. Profit

　

　

　

　

　

Net Profit

　

5

5

8

-44

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

237

232

224

Capital, Paid-Up

　

　

30

30

30

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.38

-4.33

2.81

-25.61

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.16

1.19

1.82

-10.30

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/07/2012 fiscal term. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.85

UK Pound

1

Rs.77.97

Euro

1

Rs.65.62

 

 

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.