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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
TATSUNO CORPORATION |
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Registered Office : |
3-2-9 Minamihonmachi Chuoku Osaka 541-0053 |
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Country : |
Japan |
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Date of Incorporation : |
1948 |
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Com. Reg. No.: |
1200-01-077462 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale, mfg of apparel,
resins, metal products; real estate management |
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No. of Employees : |
108 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 99.8 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TATSUNO CORPORATION
REGD
NAME: Tatsuno KK
MAIN OFFICE: 3-2-9
Minamihonmachi Chuoku Osaka 541-0053 JAPAN
Tel:
06-6263-2331
Fax: 06-6263-7471
*.. Tokyo Office moved
to: 1-20-10 Nishishimbashi Minatoku Tokyo
URL: http://www.tatsuno.co.jp
E-Mail
address: info@tatsuno.co.jp
Wholesale,
mfg of apparel, resins, metal products; real estate management
Tokyo,
Fukuoka, Higashi-Osaka, Miyazaki
USA
(2), China (2), Milan
Higashi-Osaka,
Miyazaki, Shanghai (JV subsidiary)
KATSUHIKO
TATSUNO, PRES
Yutaka
Sasaki, dir
Morihiko Tatsuno, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 13,297 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen
8,454 M
STARTED 1948 EMPLOYES 108
TRADING FIRM, WITH MFG DIVISION, SPECIALIZING IN APPAREL,
RESINS,
CONSTRUCTION MATERIALS; REAL
ESTATE MANAGEMENT。
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 99.8 MILLION, 30 DAYS NORMAL TERMS.
.
The
subject company was established originally in 1934 by Hikoichi Tatsuno as a
textile goods merchant, on his account.
Incorporated in 1948, the firm has been succeeded by the founder’s
descendants. This is a trading firm,
with mfg division, specializing in import, export and wholesale of apparel
(school, office, factory-uniforms), construction materials, resins, other. The real estate division maintains and
supervises about 40 owned buildings centering in Osaka City, also executes
house building, importing prefab houses.
The overseas division imports and exports these goods, in addition to
office building management in Texas (USA), and shopping Mall in Shanghai
(China). Clients include electric powers
as it handles power poles, cables & metal fittings.
The sales volume for Mar/2011 fiscal
term amounted to Yen 13,297 million, a 5% up from Yen 12,635 million in the
previous term. The newly completed complex
building In Osaka contributed, while high Yen hurt import/export revenues in
Yen terms. The recurring profit was
posted at Yen 1,821 million and the net profit at Yen 890 million,
respectively, compared with Yen 1,638 million recurring profit and Yen 1
million net profit, respectively, a year ago.
For the current term ending Mar
2012 the recurring profit is projected at Yen 1,850 million and the net profit
at Yen 900 million, respectively, on a 2% rise in turnover, to Yen 13,500
million.
The financial situation is
considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 99.8
million, on 30 days normal terms.
Date Registered: May 1948
Regd No.: 1200-01-077462
(Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12 million shares
Issued:
3 million shares
Sum: Yen 100
million
Major shareholders (%): Katsuhiko Tatsuno (16.5),
Kohei Tatsuno (9.9), Teppei Tatsuno (9.9), Mitsuhiko Tatsuno (8.5), Motonobu
Tatsuno (7.9), Morihiko Tatsuno (6.6)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales, manufactures and imports
textiles, resins, metal products, other construction materials, pre-fabricated
houses & housing kits; real estate management:
(Sales Breakdown by Divisions):
Apparel Division (38%): office uniforms, work wear,
clean-room wear (anti-dust), men’s & women’s suits, sports wear, other;
Materials Division (13%): Pipe Materials (FRP pipe, PFP
pipe, SGR pipe, flexible pipe, vinyl chloride draining pipe, FRPM pipe,
polyethylene pipe, draining pipe), other resin ware (FRP trough, cable
protection sheet, FRP grating, FRP fence, FRP ladder, FRP elevator, strengthening
plastic complex sheet, reinforcement for concrete, water tank, high-level water
tank, concrete make wares, concrete poll for cable support, concrete trough,
box culvert, manhole, other);
Real Estate Division (40%): manages 40-45 office buildings, residential
buildings, warehouses, exhibition halls, parking lots, other centering in
greater-Osaka region; house building, other;
Overseas Division (9%): imports & exports textiles,
fabrics, machinery, chemicals, prefab homes, cosmetics; manages owned buildings
in Texas (USA) & China, shipping mall operation in Shanghai, other.
Clients: [Electric powers, mfrs, wholesalers]
Haseko Corporation, Tokyo Electric Power, Kansai Electric Power Descant,
Daimaru Matsuzakaya Department Store, SWCC Showa Holdings, Woolen Co, Descent,
Hitachi Systems, Woolen Co, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Marubeni Corp,
Itochu Corp, AGC Matex, Kurimoto Kasei Kogyo, Mitsui Bussan Inter Fashion, Teijin
Fiber, Kuraray Co, Fabiana Filippe Spa, other.
Payment record:
Regular
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Bingomachi)
MUFG
(Semba-Chuo)
Relations: Satisfactory.
(In
Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
13,500 |
13,297 |
12,635 |
14,457 |
|
Recur.
Profit |
|
1,850 |
1,821 |
1,638 |
1,723 |
|
Net
Profit |
|
900 |
890 |
1 |
658 |
|
Total
Assets |
|
|
69,234 |
68,078 |
69,958 |
|
Current
Assets |
|
|
10,459 |
9,870 |
8,993 |
|
Current
Liabs |
|
|
5,897 |
6,413 |
18,656 |
|
Net
Worth |
|
|
8,454 |
7,835 |
6,604 |
|
Capital,
Paid-Up |
|
|
100 |
330 |
330 |
|
Div.P.Share(¥) |
|
|
3.00 |
3.00 |
3.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.53 |
5.24 |
-12.60 |
-14.60 |
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Current Ratio |
|
.. |
177.36 |
153.91 |
48.20 |
|
N.Worth Ratio |
.. |
12.21 |
11.51 |
9.44 |
|
|
R.Profit/Sales |
|
13.70 |
13.69 |
12.96 |
11.92 |
|
N.Profit/Sales |
6.67 |
6.69 |
0.01 |
4.55 |
|
|
Return On Equity |
.. |
10.53 |
0.01 |
9.96 |
|
Note:
Forecast (or estimated) for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
|
|
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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 |
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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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.