MIRA INFORM REPORT

 

 

Report Date :

29.05.2012

 

IDENTIFICATION DETAILS

 

Name :

TOYOTSU MATERIAL INC

 

 

Registered Office :

Nagoya Yanagibashi Bldg 2F, 1-16-28 Meieki-Minami Nakamuraku Nagoya 450-0003

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

May 1999

 

 

Com. Reg. No.:

1800-01-048098 (Nagoya-Nakamuraku)                                   

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, export, wholesale of iron & steel raw materials, products, recycled metals

 

 

No. of Employees :

54

 

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

 

TOYOTSU MATERIAL INC

 

 

REGD NAME

 

Toyotsu Material KK

 

 

MAIN OFFICE

 

Nagoya Yanagibashi Bldg 2F, 1-16-28 Meieki-Minami Nakamuraku Nagoya 450-0003 JAPAN

Tel: 052-569-2227      Fax: 052-565-6070

                                               

URL:                             http://www.toyotsumaterial.co.jp

E-Mail address:            info@toyotsumaterial.co.jp

 

 

ACTIVITIES

 

Import, export, wholesale of iron & steel raw materials, products, recycled metals

 

 

BRANCHES

 

Osaka, Fukuoka (3), Komaki, Sendai

 

 

OFFICERS

 

KOZO YODA, PRES                                                     

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                 A/SALES          Yen 61,585 M

PAYMENTS REGULAR  CAPITAL           Yen 10 M

TREND UP                    WORTH            Yen 1,621 M

STARTED         1999                 EMPLOYES      54

 

COMMENT    

 

TRADING FIRM OWNED BY TOYOTA TSUSHO CORP.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGEMENTS: US$350,000 / O/A 30 DAYS.

 

 

HIGHLIGHTS

           

The subject company was established on the basis of a nonferrous metal division separated from Toyota Tsusho Corp (See REGISTRATION).  This is a trading firm specializing in import, export and wholesale of iron & steel raw materials, products, recycled metals, other.  For imports and exports the parent’s worldwide offices/subsidiaries are fully utilized.  Domestic clients include major steel mills, wholesalers, other

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2011 fiscal term amounted to Yen 61,585 million, a 37% up from Yen 45,110 million in the previous term.  EVs (electric vehicles) recycled business was transferred from the parent.  The recurring profit was posted at Yen 995 million and the net profit at Yen 540 million, respectively, compared with Yen 399 million recurring profit and Yen 234 million net profit, respectively, a year ago.

 

For the term that ended Mar 2012 the recurring profit was projected at Yen 1,000 million and the net profit at Yen 580 million, respectively, on a 3% rise in turnover, to Yen 63,500 million.  Final results are yet to be released. 

 

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

 

 

REGISTRATION

 

Date Registered:  May 1999

Regd No.:         1800-01-048098 (Nagoya-Nakamuraku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         400 shares

Issued:                100 shares

Sum:                   Yen 10 million

 

Major shareholders (%): Toyota Tsusho Corp* (100)

 

*.. Sole trading house in the Toyota Group, Nagoya, founded 1948, listed Tokyo S/E,

Capital Yen 64,936 million, sales Yen5,916,759 million, operating profit Yen 92,403 million, recurring profit Yen 115,110 million, net profit Yen 66,205 million, total assets Yen 2,937,428 million, net worth Yen 751,747 million, employees 31,081, pres Jun Karube. Consolidated Financials are attached (See SUPPLEMENTS)

 

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

 

OPERATION

           

Activities: Imports, exports and wholesales iron & steel raw materials (25%), their products & parts (18%), nonferrous metals recycled products (aluminum, copper, nickel, other), recycled EVs (electric vehicles) (35%), others (22%).

 

Clients: [Mfrs, wholesalers] Toyota Tsusho Corp, Toyota Motor group, Aichi Steel Corp, Kobe Steel, Almine Co, Alinco Inc, Metal Do Co, Mitsubishi Electric, other 

            No. of accounts: 500

            Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp, other

 

Payment record: Regular

 

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

 

Bank References:

SMBC (Nagoya)

MUFG (Nagoya)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

63,500

61,585

45,110

55,323

Recur. Profit

　

1,000

995

399

251

Net Profit

　

580

541

234

143

Total Assets

　

　

10,470

8,551

4,576

Current Assets

　

　

10,255

8,382

　

Current Liabs

　

　

8,786

7,318

　

Net Worth

　

　

1,621

1,164

996

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.11

36.52

-18.46

-21.80

    Current Ratio

 

..

116.72

114.54

..

    N.Worth Ratio

..

15.48

13.61

21.77

    R.Profit/Sales

 

1.57

1.62

0.88

0.45

    N.Profit/Sales

0.91

0.88

0.52

0.26

    Return On Equity

..

33.37

20.10

14.36

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

 

 

SUPPLEMENTS

 

CONSOLIDATED FINANCIALS OF THE PARENT, TOYOTA TSUSHO CORP

FINANCES: (Consolidated in million yen)

 

　

　

Terms Ending:

31/03/2012

31/03/2011

INCOME STATEMENT

 

 

 

  Annual Sales

　

5,916,759

5,743,649

 

  Cost of Sales

5,572,759

5,412,919

 

      GROSS PROFIT

343,999

330,730

 

  Selling & Adm Costs

251,596

245,432

 

      OPERATING PROFIT

92,403

85,297

 

  Non-Operating P/L

22,707

18,921

 

      RECURRING PROFIT

115,110

104,218

　

      NET PROFIT

66,205

47,169

BALANCE SHEET

 

 

 

 

  Cash

　

354,811

252,768

 

  Receivables

 

1,054,602

898,212

 

  Inventory

 

406,546

379,116

 

  Securities, Marketable

10,000

　

 

  Other Current Assets

151,015

142,849

 

      TOTAL CURRENT ASSETS

1,976,974

1,672,945

 

  Property & Equipment

353,042

272,513

 

  Intangibles

 

112,560

95,438

 

  Investments, Other Fixed Assets

394,852

395,352

 

      TOTAL ASSETS

2,837,428

2,436,248

 

  Payables

 

800,067

713,395

 

  Short-Term Bank Loans

350,001

283,960

 

　

 

　

　

 

  Other Current Liabs

337,138

277,766

 

      TOTAL CURRENT LIABS

1,487,206

1,275,121

 

  Debentures

 

85,000

65,000

 

  Long-Term Bank Loans

444,521

378,003

 

  Reserve for Retirement Allw

15,237

14,447

 

  Other Debts

　

53,717

36,298

 

      TOTAL LIABILITIES

2,085,681

1,768,869

 

      MINORITY INTERESTS

 

 

 

Common stock

64,936

64,936

 

Additional paid-in capital

154,367

154,367

 

Retained earnings

483,255

431,126

 

Evaluation p/l on investments/securities

16,924

14,849

 

Others

 

39,109

9,530

 

Treasury stock, at cost

(6,844)

(7,430)

 

      TOTAL S/HOLDERS` EQUITY

751,747

667,378

　

      TOTAL EQUITIES

2,837,428

2,436,248

CONSOLIDATED CASH FLOWS

 

 

 

 

Terms ending:

31/03/2012

31/03/2011

 

Cash Flows from Operating Activities

　

63,782

79,884

 

Cash Flows from Investment Activities

-58,771

-74,046

 

Cash Flows from Financing Activities

97,358

77,751

　

Cash, Bank Deposits at the Term End

　

354,755

252,747

ANALYTICAL RATIOS            Terms ending:

31/03/2012

31/03/2011

 

 

Net Worth (S/Holders' Equity)

751,747

667,378

 

 

Current Ratio (%)

132.93

131.20

 

 

Net Worth Ratio (%)

26.49

27.39

 

 

Recurring Profit Ratio (%)

1.95

1.81

 

 

Net Profit Ratio (%)

1.12

0.82

 

 

Return On Equity (%)

8.81

7.07

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.26

UK Pound

1

Rs.86.80

Euro

1

Rs.69.63

 

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.