|
Report Date : |
08.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
TEISHIN ELECTRIC
CO LTD |
|
|
|
|
Registered Office : |
2-9-10 Ryoke Kawaguchi Saitama-Pref 332-0004 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
Jul
1983 |
|
|
|
|
Com. Reg. No.: |
0300-01-076121
(Saitama-Kawaguchi) |
|
|
|
|
Legal Form : |
Limited
Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Mfg of
electronics parts |
|
|
|
|
No. of Employees : |
12 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
TEISHIN ELECTRIC CO LTD
REGD NAME: Teishin
Denki KK
MAIN OFFICE: 2-9-10
Ryoke Kawaguchi Saitama-Pref 332-0004 JAPAN
Tel:
048-223-1271 Fax: 048-222-6916
URL: http://www.teishin-bel.co.jp
E-Mail
address: business.dept@teishin-bel.co.jp
Mfg of
electronics parts
Osaka
Kawaguchi
(2)
China
(3), Taiwan (3), Korea, Hong Kong (-partnership mfrs)
YASUHIRO
SUZUKI, PRES
Sadao
Suzuki, ch
Eisaku
Takatsuka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 309 M
PAYMENTS
No complaints CAPITAL Yen 20 M
TREND STEADY WORTH Yen 163 M
STARTED 1983 EMPLOYES 12
MFG OF ELECTRIC PARTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS BUT DOUBTFUL FOR CREDIT
ENGAGEMENTS: US$100,000 / O/A 30 DAYS.
The subject
company was established by Sadao Suzuki, now ch, in order to make most of his
experience in the subject line of business.
Yasuhiro is his son. This is a
specialized mfr of electric parts. Goods
are manufactures at its own yards domestically and also at overseas partnership
makers: China (3), Taiwan (3), Korea and Hong Kong. Domestic clients include major
electronics/electric makers.
The sales
volume for Mar/2012 fiscal term amounted to Yen 309 million, a 5% up from Yen
294 million in the previous term.
Exports increased. The recurring
profit was posted at Yen 10 million and the net profit at Yen 9 million,
respectively, compared with Yen 7 million recurring profit and yen 6 million
net losses, respectively, a year ago.
For the
current term ending Mar 2013 the recurring profit is projected at Yen 10
million and the net profit at Yen 10 million, respectively, on a 4% rise in
turnover, to Yen 320 million. Business
is seen steadily expanding.
The
financial situation is considered FAIR and good for ORDINARY business
engagements. The proposed amount,
however, is considered TOO HIGH from the recent financial status.
Date Registered: Jul 1983
Regd No.: 0300-01-076121 (Saitama-Kawaguchi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued:
40,000 shares
Sum: Yen 20 million
Major shareholders (%): Kazue Suzuki (20), Sadao Suzuki
(20), Yasuhiro Suzuki (20), Koichi Suzuki (17), Tsurayuki Suzuki (5), other
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures electric parts &
components (100%).
Goods are manufactures
domestically and also at partnership makers in: China (3), Taiwan (3), Korea
and Hong Kong.
(Mfg Items): clips, test reads, plugs, jacks &
parts, AV cables, adapters, connectors & coaxial test reads, spacers,
molded & metal cases, other
Clients: [Mfrs, wholesalers] Okamoto
Electronics Corp, Kakuta Radio & Electric Co, Hakko Corp, Mitsubishi
Materials, Pioneer, Mitsubishi Electric, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Yoshimi Teishin
Electric Co, Teishin Metal Co, Yanaka Corp, Nezu Corp, Nippon Resin Ind, Tanaka
Kinzoku Kogyo, Sanko Plastic, other
Payment record: Regular
Location: Business area in Kawaguchi,
Saitama-Pref. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG
(Akabane-Ekimae)
Johoku
Shinkin Bank (Asahicho)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
320 |
309 |
294 |
282 |
|
Recur.
Profit |
|
10 |
10 |
7 |
-1 |
|
Net
Profit |
|
10 |
9 |
-6 |
1 |
|
Total
Assets |
|
|
467 |
471 |
491 |
|
Current
Assets |
|
|
188 |
196 |
183 |
|
Current
Liabs |
|
|
27 |
79 |
73 |
|
Net
Worth |
|
|
163 |
153 |
160 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.56 |
5.10 |
4.26 |
-8.74 |
|
|
Current Ratio |
|
.. |
696.30 |
248.10 |
250.68 |
|
N.Worth Ratio |
.. |
34.90 |
32.48 |
32.59 |
|
|
R.Profit/Sales |
|
3.13 |
3.24 |
2.38 |
-0.35 |
|
N.Profit/Sales |
3.13 |
2.91 |
-2.04 |
0.35 |
|
|
Return On Equity |
.. |
5.52 |
-3.92 |
0.63 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.88.49 |
|
Euro |
1 |
Rs.70.20 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.