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Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
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Name : |
YAMADA TOSO CO LTD |
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Registered Office : |
12-5 Ishizuka Nawamachi Tokai Aichi-Pref 476-0002 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
January 1966 |
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Com. Reg. No.: |
1800-01-094597 (Aichi-Tokai) |
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Legal Form : |
Limited Company |
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Line of Business : |
Painting works |
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No. of Employees : |
35 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
YAMADA TOSO CO LTD
REGD NAME: Yamada
Toso KK
MAIN OFFICE: 12-5
Ishizuka Nawamachi Tokai Aichi-Pref 476-0002
Tel:
052-604-1017 Fax: 052-604-6782
URL: http://www.eco-yamadapaint.co.jp
E-Mail address: (thru the URL)
Painting works
Fukuyama, Aomori,
Totsumura, Miyagi, Shizuoka
At the caption
address
HIROFUMI YAMADA,
PRES
Sotokichi Yamada,
ch
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,364 M
PAYMENTS SLOW BUT
CORRECT CAPITAL Yen 20 M
TREND UP WORTH Yen 83 M
STARTED 1966 EMPLOYES 35
PAINTING WORKS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established
originally in 1953 by Sotokichi Yamada (now ch at the firm) to engage in
painting works, on his account.
Incorporated in 1966, the firm has been succeeded by his son, Hirofumi
Yamada. This business specialized in
painting works for steel structures, buildings, nuclear power plants,
industrial plants, other (See OPERATION). Clients include local governments,
engineering firms, other.
Financials are only partially
disclosed.
The sales volume for Dec/2011 fiscal term amounted to Yen 1,364 million,
a 21% up from Yen 1,127 million in the previous term. New demand and need were created after the Great
East Earthquake that occurred in March 2011.
The net profit was posted at Yen 1 million, unchanged in the previous
term.
For the current term ending Dec 2012
the net profit is projected at Yen 2 million, on a 3% rise in turnover, to Yen
1,400 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jan
1966
Regd No.:
1800-01-094597 (Aichi-Tokai)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major
shareholders (%): Hirofumi Yamada and families (--100)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Executes
painting works on: industrial plants, nuclear power plants, thermal power
plants, buildings, steel structures, concrete surface treatment & blasting,
other (--100%)
Clients: [Local
governments, mfrs, wholesalers] Aichi Prefectural Office, Nagoya Oxygen Center,
Toshiba Plant Systems, Taiyou Nissan Energy Chubu, Takaichi Kogyosho,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Atsuta Nishikawa Toryoten (Toryo means Paints), Ishikawa Toryo
Shokai, Aishin Shoko Co, Takitomi Co, other
Payment record: Slow but correct
Location: Business area in
Tokai City, Aichi-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Aichi Bank (Nawa)
MUFG (Tokai)
Relations:
Satisfactory
(In Million
Yen)
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31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
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1,400 |
1,364 |
1,127 |
829 |
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Recur.
Profit |
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Net
Profit |
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2 |
1 |
1 |
2 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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83 |
82 |
81 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
2.64 |
21.03 |
35.95 |
-23.10 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.14 |
0.07 |
0.09 |
0.24 |
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Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.97 |
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1 |
Rs.87.52 |
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Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.