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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TAKISADA-OSAKA CO LTD |
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Registered Office : |
2-3-6 Bingomachi Chuoku Osaka 541-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
August, 2001 |
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Com. Reg. No.: |
1200-01-099371 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of textiles & products |
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No. of Employees : |
749 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
TAKISADA-OSAKA CO
LTD
Takisada Osaka KK
2-3-6 Bingomachi Chuoku Osaka 541-0051 JAPAN
Tel: 06-6262-1205
Fax: 06-6261-4327
URL: Error! Hyperlink reference not valid.
E-Mail address: info@takisada-osaka.co.jp
Import, export, wholesale of textiles & products
Tokyo, Nagoya, Gifu
Shanghai, New York
RYUTA TAKI, PRES Osamu
Ogawa, s/mgn dir
Mitsuo Matsumoto, dir Naoto
Taki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 72,398 M
PAYMENTS REGULAR CAPITAL Yen
1,500 M
TREND STEADY WORTH Yen
51,721 M
STARTED 2001 EMPLOYES 749
TRADING HOUSE SPECIALIZING IN TEXTILES & PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established originally in 1864 by a certain Taki
as a textile merchant, on his account.
Incorporated in 1940, the firm has been succeeded by his
descendants. In Aug 2001, the firm split
into two entities: Takisada-Osaka Co Ltd (ex Takisada Osaka Headquarters) and
Takisada-Nagoya Co Ltd (ex Takisada Nagoya Headquarters). This is a trading house specializing in
textiles and their products. Boasts the
top-ranked position in sales of textiles & products. Goods are both imported and exported. Clients are major apparel mfrs, wholesalers,
chain stores, specialty stores, etc, nationwide.
The sales volume for Jan/2012 fiscal term amounted to Yen 72,398
million, a 5% up from Yen 69,020 million in the previous term. Exports into and from China increased. The recurring profit was posted at Yen 2,963
million and the net profit at Yen 1,293 million, respectively, compared with
Yen 2,875 million recurring profit and Yen 218 million net profit,
respectively, a year ago.
For the term that ended Jan 2013 the recurring profit was projected at Yen
3,000 million and the net profit at Yen 1,400 million, respectively, on a 3%
rise turnover, to Yen 74,500 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Aug 2001
Regd No.: 1200-01-099371
(Osaka-Chuoku)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 1.2 million shares
Issued: 300,000
shares
Sum: Yen
1,500 million
Major shareholders
(%): Majority owned by
Takisada families & relatives (Breakdown details unavailable)
No. of
shareholders: 85
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Trading house for
import, export and wholesale of textile fabrics, piece goods for women (60%),
for men (7.7%), women’s clothing & clothing accessories (13.4%), bed
clothes, beddings, night clothes, interior accessories (4.9%), wool, silk
cloths, other textile materials (14%).
(Import/export 10%).
Clients: [Apparel mfrs,
wholesalers] Onward Kashiyama, World Co, Itokin, Sanyei International,
other.
Exports to Europe, USA, China, other S/E Asian countries, etc (8.5%).
No. of accounts:
(Wholesalers) 2,000, (Apparel makers) 700
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Teijin Ltd, Toray Ind, Nisshinbo, Toyobo, Kuraray, Mitsubishi
rayon, Fujibo Ltd, Unitika, Asahi Kasei, Kanebo Ltd, other.
Imports from Europe, USA, China, other S/E Asian countries.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Kawaramachi)
Mizuho Bank (Semba)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
|
|
Annual Sales |
|
74,500 |
72,398 |
69,020 |
66,876 |
|
Recur. Profit |
|
3,000 |
2,963 |
2,875 |
1,944 |
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Net Profit |
|
1,400 |
1,293 |
218 |
535 |
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Total Assets |
|
|
73,856 |
74,150 |
73,623 |
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Current Assets |
|
|
47,090 |
48,668 |
51,732 |
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Current Liabs |
|
|
21,293 |
21,602 |
21,176 |
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Net Worth |
|
|
51,721 |
51,303 |
51,234 |
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Capital, Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
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Div.P.Share(¥) |
|
|
10,500.00 |
5,000.00 |
5,000.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.90 |
4.89 |
3.21 |
-14.92 |
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Current Ratio |
|
.. |
221.15 |
225.29 |
244.30 |
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N.Worth Ratio |
.. |
70.03 |
69.19 |
69.59 |
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R.Profit/Sales |
|
4.03 |
4.09 |
4.17 |
2.91 |
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N.Profit/Sales |
1.88 |
1.79 |
0.32 |
0.80 |
|
|
Return On Equity |
.. |
2.50 |
0.42 |
1.04 |
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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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.