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Report Date : |
24.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TOKAI OPITCAL CO LTD |
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Registered Office : |
5-26 Shimoda Etacho |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
November 1957 |
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Com. Reg. No.: |
1803-01-001422 (Aichi-Okazaki) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of ophthalmic
lenses |
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No. of Employees : |
436 employees |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 |
TOKAI OPITCAL CO LTD
Tokai Kogaku KK
5-26 Shimoda
Etacho Okazaki Aichi-Pref 444-2107 JAPAN
Tel:
0564-27-3200 Fax: 0564-27-3003
E-Mail address: (thru the URL)
Mfg of
ophthalmic lenses
Tokyo,
Osaka, Sapporo, Sendai, Fukuoka
Belgium,
China (Shanghai)
Shigita
HIROKAZU
FURUSAWA, PRES
Takeo
Furusawa, ch Minoru
Nakane, mgn dir
Manabu
Kato, mgn dir Shuji
Suzuki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 9,200 M
PAYMENTS No Complaints CAPITAL Yen 100 M
TREND UP WORTH Yen 3,643 M
STARTED 1957 EMPLOYES 436
MFR SPECIALIZING OPTHALMIC LENSES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1939 by Shizu Furusawa
for making optical lenses. Incorporated
in 1957 by Masao Furusawa. This is a
specialized mfr of ophthalmic lenses.
Goods are exported. Clients
include eye-glasses chain stores, other.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Sept/2011 fiscal term amounted to Yen 9,200
million, a 4% down from Yen 9,600 million in the previous term. Exports were hurt by the high Yen, reducing
revenues & profits in Yen terms. The
net profit is estimated posted at Yen 90 million, compared with Yen 95 million
a year ago. Profits are not precisely
disclosed.
For the term that ended Sept 2012 the net profit was projected at Yen 95
million, on a 3% rise in turnover, to Yen 9,500 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Nov 1957
Regd No.: 1803-01-001422 (Aichi-Okazaki)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Hirokazu Furusawa (28), Nagoya
Small & Medium Business Promotion & Investment Assn (20), Takeo
Furusawa (19)
No. of shareholders: 23
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures specialized ophthalmic lenses (100%)
Clients: [Mfrs, wholesalers] Japan Optometric Corp, Paris Miki Holdings, Iwaki Optical Co, Megane no Wako Co, Megane no Asano, Megane no Bunmeido, other
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Takasago Trading Co, Yachiyo Micro Science Co, Yoshioka Kenmazwi Co, Sun Looks Co, Moriroku Holdings, other
Payment record: No Complaints
Location: Business area in Okazaki City, Aichi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Nagoya
Bank (Okazaki)
Okazaki
Shinkin Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
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30/09/2012 |
30/09/2011 |
30/09/2010 |
30/09/2009 |
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Annual
Sales |
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9,500 |
9,200 |
9,600 |
9,363 |
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Recur.
Profit |
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Net
Profit |
|
95 |
90 |
95 |
89 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
3,643 |
3,580 |
3,514 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.26 |
-4.17 |
2.53 |
0.79 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
1.00 |
0.98 |
0.99 |
0.95 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/09/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
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 |
|
---- |
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.