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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TSUBOI CORPORATION |
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Registered Office : |
Tsuboi Bldg, 2-9-17 Ginza Chuoku |
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Country : |
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Financials (as on) : |
31.10.2011 |
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Date of Incorporation : |
September 1944 |
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Com. Reg. No.: |
0100-01-050701 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Engineering works, construction works |
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No. of Employees : |
219 |
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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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 |
JAPAN - ECONOMIC OVERVIEW
In the years following World War
II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A tiny agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. Usually self-sufficient in rice, Japan imports about 60% of its
food on a caloric basis. Japan maintains one of the world's largest fishing
fleets and accounts for nearly 15% of the global catch. For three decades,
overall real economic growth had been spectacular - a 10% average in the 1960s,
a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed
markedly in the 1990s, averaging just 1.7%, largely because of the after
effects of inefficient investment and an asset price bubble in the late 1980s that
required a protracted period of time for firms to reduce excess debt, capital,
and labor. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2011 stood as the fourth-largest economy in the
world after second-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2011. A sharp downturn in business investment
and global demand for Japan's exports in late 2008 pushed Japan further into
recession. Government stimulus spending helped the economy recover in late 2009
and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude
earthquake in March disrupted manufacturing. Electricity supplies remain tight
because Japan has temporarily shut down almost all of its nuclear power plants
after the Fukushima Daiichi nuclear reactors were crippled by the earthquake
and resulting tsunami. Estimates of the direct costs of the damage - rebuilding
homes, factories, and infrastructure - range from $235 billion to $310 billion,
and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has
proposed opening the agricultural and services sectors to greater foreign
competition and boosting exports through membership in the US-led Trans-Pacific
Partnership trade talks and by pursuing free-trade agreements with the EU and
others, but debate continues on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
Source
: CIA
TSUBOI CORPORATION
REGD NAME: Tsuboi
Kogyo KK
MAIN OFFICE: Tsuboi
Bldg, 2-9-17 Ginza Chuoku
Tel:
03-3563-1301 Fax: 03-3564-3831
E-Mail address: (thru the URL)
Engineering works,
construction works
General Contractor
No. 2421 by Ministry of Land, Infrastructure & Transport
Construction
Office No. 3187 by the Governor of Tokyo-Metrop
Real Estate
Sales/Purchase No. 78382 by the Governor of Tokyo-Metrop
Kawasaki,
Fujisawa, Nagoya, Chiba, Yokohama, Osaka, Sendai, Saitama
At the caption address
(laboratories, other)
HARUMASA TSUBOI,
PRES Tomoaki Suzuki, s/mgn dir
Akira Kadoma, mgn
dir Yasushi Yada, dir
Naomi Omiya, dir Akitoshi Fujita, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 14,407 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND SLOW WORTH Yen 2,606 M
STARTED 1944 EMPLOYES 219
CONSTRUCTION WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR CREDIT ENGAGEMENTS: US$2,500,000.00 / O/A 60 DAYS.
The subject company was established
by father of Harumasa Tsuboi in order to make most of his experience in the
subject line of business. This is a
licensed engineering & construction company, specializing in construction
works, earth works, other. Strong with
government agencies, local municipalities, other.
The sales volume for Oct/2011 fiscal
term amounted to Yen 14,407 million, an 8% up from Yen 13,358 million in the
previous term. The Earthquake in
Mar/2011 in the north Japan area initiated new demands for earth works and
building works. The recurring profit was
posted at Yen 186 million and the net profit at Yen 19 million, respectively,
compared with Yen 80 million recurring profit and Yen 187 million net profit,
respectively, a year ago.
For the term that just ended Oct
2012 the recurring profit was projected at Yen 200 million and the net profit
at Yen 20 million, respectively, on a 3% rise in turnover, to Yen 14,800
million. New construction demand kept
rising especially after the said Earthquake.
Final results are yet to be released.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered:
Sept 1944
Regd No.:
0100-01-050701 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.6 shares
Issued: 1.92 shares
Sum: Yen 100 million
Major
shareholders (%): Harumoto Tsuboi (29), Tsuboi Real Estate Co (23), Employees’ S/Holding Assn
(22), Nobu Tsuboi (10), Sadahiko Tsuboi (8)
No. of shareholders: 9
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Construction
works (80%), engineering works, earth works (20%)
Clients: [Governments,
municipal offices] Tokyo-Metrop Office, JFE Group firms, Toyota Motor Group
firms, Japan Railways, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Inoue Shoji Tekko Kenzai Co, Mitani Corp, Hayakawa Denko Co, Aoki
Steel Co, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Ginza)
Mizuho Bank
(Ginza-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/10/2012 |
31/10/2011 |
31/10/2010 |
31/10/2009 |
|
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Annual
Sales |
|
14,800 |
14,407 |
13,358 |
15,184 |
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Recur.
Profit |
|
200 |
186 |
80 |
235 |
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Net
Profit |
|
20 |
19 |
187 |
97 |
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Total
Assets |
|
|
11,066 |
14,399 |
14,107 |
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Current
Assets |
|
|
7,809 |
10,050 |
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Current
Liabs |
|
|
6,043 |
8,789 |
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Net
Worth |
|
|
2,606 |
2,598 |
2,782 |
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Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
6.00 |
6.00 |
6.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
2.73 |
7.85 |
-12.03 |
17.07 |
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Current Ratio |
|
.. |
129.22 |
114.35 |
.. |
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N.Worth Ratio |
.. |
23.55 |
18.04 |
19.72 |
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R.Profit/Sales |
|
1.35 |
1.29 |
0.60 |
1.55 |
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N.Profit/Sales |
0.14 |
0.13 |
1.40 |
0.64 |
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Return On Equity |
.. |
0.73 |
7.20 |
3.49 |
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Notes: Forecast (or
estimated) figures for the 31/10/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.08 |
|
|
1 |
Rs.86.68 |
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Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.