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Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
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Name : |
TENHIKO INDUSTRIAL CO LTD |
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Registered Office : |
5-26-5 Nankominami
Suminoeku |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April
1977 |
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Com. Reg. No.: |
1200-01-096164
(Osaka-Suminoeku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Processing
of special steel, silicolloy; import/export of steel products |
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No. of Employees : |
36 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
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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 |
TENHIKO INDUSTRIAL CO LTD
KK Tenhiko Sangyo
5-26-5 Nankominami
Suminoeku Osaka 559-0032 JAPAN
Tel:
06-6613-2362 Fax: 06-6613-2367
E-Mail address: web@tenhiko.co.jp
Processing of special steel, silicolloy; import/export of steel products
Nil
Thailand,
Shanghai
At the
caption address; Thailand, Shanghai
TOMOO
HIGUCHI, PRES Katsuhiko Higuchi,
ch
Nobuyoshi
Sugihara, mgn dir Takehiko Higuchi,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 3,761 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND UP WORTH Yen 237 M
STARTED 1977 EMPLOYES 36
PROCESSING WORKS OF SPECIAL STEEL, SILICOLOY, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1875 by Hikosaburo
Higuch for making ripsaw, on his account.
Incorporated in 1977 the firm has been succeeded by his
descendants. This is a specialized mfr
and processor of special steel, stainless steel, silicolloy, other steel
products (See OPERATION) The works include forging, pressing, heat
treatment, etc, of the steel products.
Clients include steel mills, steel mfrs, other..
The sales volume for Mar/2011 fiscal term amounted to Yen 3,761 million,
a 67% up from Yen 2,250 million in the previous term. This is attributed to the recovery of
economic activities, which were badly hurt by the global economic downturn in
the previous period. The auto industry
came back. Exports were robust into
China and other S/E Asian countries. As
a result, the operations came back to profitability to post Yen 17 million
recurring profit and Yen 13 million net profit, respectively, compared with Yen
65 million recurring loss and Yen 13 million net losses, respectively, a year
ago.
For the term that ended Mar 2012 the recurring profit was projected at
Yen 20 million and the net profit at Yen 15 million, respectively, on a 4% rise
in turnover, to Yen 3,900 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1977
Regd No.: 1200-01-096164 (Osaka-Suminoeku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
166,000 shares
Issued:
41,660 shares
Sum: Yen 20.83 million
Major shareholders (%): Katsuhiko Higuchi (40), Tomoo
Higuchi (23), Nobuyoshi Sugihara (8), Yuriko Higuchi (6), Takehiko Higuchi (5)
No. of shareholders: 15
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
& processes (forging, pressing, special processing, heat treatment) special
steel, stainless steel, silicolloy, other steel products (--100%)
(Products):
Special Steel: carbon steel for
machine structural use, boron steel, carbon tool steel, alloy tool steel, alloy
steel for structural use, spring steel, special steel for fine blanking, other
types;
Stainless Steel: austenitic type
stainless steel, ferrite type stainless steel, martensitic type stainless
steel, high tensile type dual-phase type stainless steel, other;
Steel Plate for
Plastic Mold;
Abrasion Resistant
Steel;
Super Stainless
Steel Silicolloy, other.
Clients: [Mfrs,
wholesalers] Tohatsu Kogyo, Nomizu Kotetsuten, Furukawa Kozai, Tenhiko
Thailand, FMC, Sasaoka Corp, Heiwa Hatsujo Ind, Kansai Tekko Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui & Co, Mitsui & Co Steel Co, JFE Shoji Trading,
Sanyo Special Steel, Mitsubishi Steel Mfg, Daido Steel Co, Shinkansai Steel
Corp, Nachi-Fujikoshi Corp, Tohoku Steel Co, other
Imports form China, Thailand, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
Shoko Chukin Bank (Osaka)
Shiga Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
3,900 |
3,761 |
2,250 |
4,178 |
|
Recur.
Profit |
|
20 |
17 |
-65 |
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Net
Profit |
|
15 |
13 |
-13 |
-39 |
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Total
Assets |
|
|
2,490 |
2,109 |
2,526 |
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Current
Assets |
|
|
1,855 |
1,579 |
|
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Current
Liabs |
|
|
1,143 |
824 |
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Net
Worth |
|
|
237 |
223 |
237 |
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Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.70 |
67.16 |
-46.15 |
-0.52 |
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|
Current Ratio |
|
.. |
162.29 |
191.63 |
.. |
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N.Worth Ratio |
.. |
9.52 |
10.57 |
9.38 |
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R.Profit/Sales |
|
0.51 |
0.45 |
-2.89 |
.. |
|
N.Profit/Sales |
0.38 |
0.35 |
-0.58 |
-0.93 |
|
|
Return On Equity |
.. |
5.49 |
-5.83 |
-16.46 |
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Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
|
UK Pound |
1 |
Rs.88.15. |
|
Euro |
1 |
Rs.70.88 |
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 |
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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 |
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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 |
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---- |
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.