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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TOKIWA KOGYO CO
LTD |
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Registered Office : |
2-190-9 Yamada Nishiku Sakai Osaka-Pref593-8316 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
February 1957 |
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Com. Reg. No.: |
1201-01-004756 (Osaka-Sakai-Nishiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of automatic wrapping machinery |
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No. of Employees : |
76 |
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 Complains |
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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 |
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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
TOKIWA KOGYO CO LTD
REGD NAME: Tokiwa
Kogyo KK
MAIN OFFICE: 2-190-9
Yamada Nishiku Sakai Osaka-Pref593-8316 JAPAN
Tel:
072-273-1234
URL: http://www.tokiwrap.co.jp
E-Mail address: (thru the URL)
Mfg of automatic
wrapping machinery
Tokyo, Fukuoka
At the caption
address, Tokyo
MINORU KAMEDA,
PRES Koji Kato, mgn dir
Hidetoshi Haji,
dir Nobuo Tsukamoto,
dir
Koji Harikawa, dir Yasushi Kioka, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,300 M
PAYMENTSNO
COMPLAINS CAPITAL Yen 67 M
TREND UP WORTH Yen 261 M
STARTED 1957 EMPLOYES 76
MFR OF WRAPPING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by
Minoru Kameda in order to make most of his experience in the subject line of
business. This is a specialized mfr of
automatic wrapping machines and equipment, other. Clients include printing houses, food
processors, other.
The sales volume for Jan/2012 fiscal
term amounted to Yen 3,300 million, a 15% up from Yen 2,862 million in the
previous term. Exports rose into China
and other S/E Asian countries. The
recurring profit was posted at Yen 31 million and the net profit at Yen 30
million, respectively, compared with Yen 185 million recurring profit and yen
25 million net profit, respectively, a year ago.
For the current term ending Jan 2013
the recurring profit is projected at Yen 35 million and the net profit at Yen
35 million, respectively, on a 3% rise in turnover, to Yen 3,400 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Feb
1957
Regd No.:
1201-01-004756 (Osaka-Sakai-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 536,000 shares
Issued: 124,000 shares
Sum: Yen 67 million
Major
shareholders (%): Minoru Kameda (46), SBIC West Japan (30), Hiroshi Kameda (10)
No. of shareholders: 8
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Manufactures
automatic wrapping machines, attachments, other (--100%)
Clients: [Mfrs,
wholesalers] Toppan Printing, Nisshin Foods, Toyo Suisan Kaisha, DSK, Morinaga
Diary Foods, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] K U System, Nippon Automation, Kuwahata Electric Ind, other
Payment record: No Complains
Location: Business area in
Sakai. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Tenkajaya)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
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Annual
Sales |
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3,400 |
3,300 |
2,862 |
2,217 |
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Recur.
Profit |
|
35 |
31 |
185 |
31 |
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Net
Profit |
|
35 |
30 |
25 |
13 |
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Total
Assets |
|
|
2,038 |
1,676 |
1,773 |
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Current
Assets |
|
|
1,507 |
1,128 |
1,216 |
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Current
Liabs |
|
|
534 |
477 |
537 |
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Net
Worth |
|
|
261 |
238 |
213 |
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Capital,
Paid-Up |
|
|
67 |
67 |
67 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.03 |
15.30 |
29.09 |
8.73 |
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Current Ratio |
.. |
282.21 |
236.48 |
226.44 |
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N.Worth Ratio |
.. |
12.81 |
14.20 |
12.01 |
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R.Profit/Sales |
1.03 |
0.94 |
6.46 |
1.40 |
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N.Profit/Sales |
1.03 |
0.91 |
0.87 |
0.59 |
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Return On Equity |
.. |
11.49 |
10.50 |
6.10 |
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Notes: Forecast
(or estimated) figures for the 31/01/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.62 |
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|
1 |
Rs.83.57 |
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Euro |
1 |
Rs.67.17 |
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.