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Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
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Name : |
TANAKA KIKINZOKU INTERNATIONAL KK |
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Registered Office : |
Tokyo Bldg 22F, 2-7-3 Marunouchi Chiyodaku Tokyo 100-6490 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October
2009 |
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Com. Reg. No.: |
0100-01-049332
(Tokyo-Chiyodaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter
of precious metal products for industrial-use |
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No. of Employees : |
104 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.
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Source : CIA |
TANAKA KIKINZOKU INTERNATIONAL KK
Tanaka Kikinzoku
International KK
Tokyo Bldg 22F,
2-7-3 Marunouchi Chiyodaku Tokyo 100-6490 JAPAN
Tel:
03-5222-1380 Fax: 03-5222-1369
E-Mail address: (thru the URL)
Export
of precious metal products for industrial-use
Korea,
Hong Kong, Singapore, Taiwan, Philippines, China (2), USA (2), Europe,
Malaysia, Thailand (subsidiaries)
HIDEYA OKAMOTO, PRES Tsuneo Sato, v pres
Yukio
Sodeyama, s/mgn dir Haruki Inose,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 192,397 M
PAYMENTSNo Complaints CAPITAL Yen 470 M
TREND UP WORTH Yen 4,846 M
STARTED 1996 EMPLOYES 104
TRADING FIRM FOR EXPORT OF PRECIOUS METAL PRODUCTS FOR INDUSTRIAL-USE, OWNED BY TANAKA KIKINZOKU HOLDINGS CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division separated from Tanaka Kikinzoku Kogyo KK (now Tanaka Holdings Co Ltd) (See REGISTRATION). Hideya Okamoto is concurrently pres at the Holding Company. This is a trading firm for export of industrial-use precious metal products, manufactured by the Group. Operates 12 overseas subsidiaries. Clients include major car makers, electronics makers, others.
The sales volume for Mar/2012 fiscal term amounted to Yen 192,397 million, a 2% up from Yen 188,404 million in the previous term. Exports were robust, but revenues decreased by the high Yen in Yen terms. The recurring profit was posted at Yen 629 million and the net profit at Yen 377 million, respectively, compared with Yen 522 million recurring profit and Yen 359 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 650 million and the net profit at Yen 400 million, respectively, on a 4% rise in turnover, to Yen 200,000 million. Production of copper wires at the parent’s Singapore Factory is increasing.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 2009
Regd No.: 0100-01-049332 (Tokyo-Chiyodaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,000 shares
Issued:
500 shares
Sum: Yen 500 million
Major shareholders (%): Tanaka Kikinzoku Holdings Co
Ltd* (100)
*.. Holding company of 7 Tanaka Kikinzoku group firms, at the caption address, founded 2010, capital Yen 500 million, sales Yen 10,833 million, operating profit Yen 4,012 million, recurring profit Yen 4,469 million, net profit Yen 3,462 million, total assets Yen 156,257 million, net worth Yen 106,725 million, employees 172, pres Hideya Okamoto, concurrently
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures and processes precious metal products for industrial use (automotive catalysts, electronic devices, others) (--100%).
(Metals handled): gold, silver, platinum, palladium, rhodium, indium, ruthenium, osmium, other.
Clients: [Mfrs, wholesalers] Tanaka Kikinzoku Kogyo, Tanaka Holdings, World Commercial Sales, Ordeg, Samsung Japan, Seagate, Fuji Electric, Tanaka Kikinzoku Taiwan, Amkor Technology, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesales] Tanaka Kikinzoku Kogyo, Tanaka Electronics Singapore Pte Ltd, Tanaka Holdings, Toyota Tsusho Corp, Sojitz Corp, Tanaka Kikinzoku Kogyo Taiwan, Mabuchi Motor, Arc International, Avanstrate, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Corporate Bank (H/O)
Mizuho
(Ginza-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
200,000 |
192,397 |
188,404 |
158,404 |
|
Recur.
Profit |
|
650 |
629 |
522 |
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Net
Profit |
|
400 |
377 |
359 |
340 |
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Total
Assets |
|
|
31,174 |
30,801 |
28,947 |
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Current
Assets |
|
|
29,164 |
28,855 |
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Current
Liabs |
|
|
26,132 |
25,903 |
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Net
Worth |
|
|
4,846 |
4,712 |
4,414 |
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Capital,
Paid-Up |
|
|
470 |
470 |
470 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.95 |
2.12 |
18.94 |
-13.20 |
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Current Ratio |
|
.. |
111.60 |
111.40 |
.. |
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N.Worth Ratio |
.. |
15.55 |
15.30 |
15.25 |
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R.Profit/Sales |
|
0.33 |
0.33 |
0.28 |
.. |
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N.Profit/Sales |
0.20 |
0.20 |
0.19 |
0.21 |
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Return On Equity |
.. |
7.78 |
7.62 |
7.70 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.07 |
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UK Pound |
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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.