MIRA INFORM REPORT

 

 

Report Date :

20.11.2012

 

IDENTIFICATION DETAILS

 

Name :

TOSC JAPAN LTD

 

 

Registered Office :

Daiichi Bldg 5F, 2-10 Kanda-Tsukasacho Chiyodaku Tokyo 101-0048

 

 

Country :

Japan

 

 

Financials (as on) :

31.08.2011

 

 

Date of Incorporation :

September 1997

 

 

Com. Reg. No.:

0100-01-024586 (Tokyo-Chiyodaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of water treatment facilities, their components/parts

 

 

No. of Employees :

15

 

 

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 :

No complaints

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

(31.03.2012)

Current Rating

(30.06.2012)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

 

 

Company name

 

TOSC JAPAN LTD

REGD NAME:    Tosc KK

MAIN OFFICE:  Daiichi Bldg 5F, 2-10 Kanda-Tsukasacho Chiyodaku Tokyo 101-0048 JAPAN

Tel: 03-3251-7651      Fax: 03-3251-7655

 

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

E-Mail address: (thru the URL)

 

 

ACTIVITIES

 

Import, export, wholesale of water treatment facilities, their components/parts

 

 

BRANCHES

 

Osaka, Kawaguchi (Saitama)

 

 

OFFICERS

 

SHUN’ICHI TANAKA, PRES      

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 900 M

PAYMENTS                  No complaints   CAPITAL           Yen 10 M

TREND             UP                    WORTH            Yen 255 M

STARTED                     1997                 EMPLOYES      15

 

 

COMMENT

 

TRADING FIRM SPECIALIZING IN WATER TREATMENT FACILITIES.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

                       

 

 

HIGHLIGHTS

           

            The subject company was established by Shun’ichi Tanaka in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of water treatment facilities, their components & parts.  Goods are more imported than exported.

 

 

FINANCIAL INFORMATION

           

            Financials are only partially disclosed.

 

The sales volume for Aug/2011 fiscal term amounted to Yen 900 million, a 15% up from Yen 780 million in the previous term.  Water treatment facilities were much more in demand after the Great East Earthquake that hit Japan in Mar/2011.  The net profit was posted at Yen 30 million, compared with Yen 25 million a year ago.

 

            For the term that ended Aug 2012 the net profit was projected at Yen 35 million, on a 6% rise in turnover, to Yen 950 million.  Final results are yet to be released. 

 

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

 

 

REGISTRATION

 

Date Registered:  Sept 1997

Regd No.:         0100-01-024586 (Tokyo-Chiyodaku)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         800 shares

Issued:                200 shares

Sum:                   Yen 10 million

Major shareholders (%): Shun’ichi Tanaka (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Imports, exports and wholesales water treatment facilities, their components & parts (--100%)

 

Clients: [Mfrs, wholesalers] Organo Corp, Samsung Japan, Morinaga Engineering Co, Morinaga Milk Ind, Meiji Co Ltd, Kurita Water Ind Ltd, Aquas Co, Mitsubishi Kakoki Kaisha, other 

No. of accounts: 500

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Pentair Residential Filtration LLC, GE Water Technologies, Pentair Water Technologies, Wave Cyber Inc, Applied Membranes Co Ltd, Clark Corp, Hyflux Co, Mattson, other

 

Payment record: No complaints

 

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

 

Bank References:

MUFG (Ohdenmacho)

Mizuho Bank (Kanda)

Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

　

　

31/08/2012

31/08/2011

31/08/2010

31/08/2009

Annual Sales

　

950

900

780

760

Recur. Profit

　

　

　

　

　

Net Profit

　

35

30

25

20

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

255

225

200

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.56

15.38

2.63

-20.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

3.68

3.33

3.21

2.63

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/08/2012 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.96

UK Pound

1

Rs.87.49

Euro

1

Rs.70.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.