|
Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIP TOP JAPAN INC |
|
|
|
|
Registered Office : |
2-338 Kamiodai Nishiku Nagoya 452-0821 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
April 1977 |
|
|
|
|
Com. Reg. No.: |
(Nagoya-Nishiku) 047655 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, wholesale of automotive & industrial products |
|
|
|
|
No. of Employees : |
28 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 small
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. While self-sufficient in rice production, Japan
imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the economy has
fallen into recession three times since 2008. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus and regulatory reform and has said he will press the Bank of Japan to
loosen monetary policy. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2012 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 2012. The new government will
continue a longstanding debate 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
TIP TOP JAPAN INC
REGD NAME: KK
Tip Top Japan
MAIN OFFICE: 2-338
Kamiodai Nishiku Nagoya 452-0821 JAPAN
Tel:
052-502-3500 Fax: 052-502-3620
URL: http//:www.tiptop-japan.co.jp
E-mail: (thru the URL)
Import, wholesale
of automotive & industrial products
Saitama, Osaka
OSKAR SPAGERT,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 884 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND STEADY WORTH Yen
292 M
STARTED 1977 EMPLOYES 28
TRADING FIRM
SPECIALIZING IN AUTOMOTIVE & INDUSTRIAL
PRODUCTS, WHOLLY
OWNED BY STAHLGRABER OTTO GMBH. .
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established by Stahlgraber Otto Braber GmbH, Germany, as its marketing arm in
Japan. This is a trading firm
specializing in automotive & industrial products (See OPERATION). Goods are wholly
supplied by the German parent and its group firms.
Financials are
consolidated by the Germany parent and only partially disclosed.
The sales volume for Dec/2011 fiscal term
amounted to Yen 884 million, an 8% up from Yen 822 million in the previous
term. Automotive market recovered. The net profit was posted at Yen 48 million,
compared with Yen 40 million a year ago.
.
For the term that
ended Dec 2012 the net profit was projected at Yen 50 million, on a 3% rise in
turnover, to Yen 910 million. Final
results are yet to be released.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr
1977
Regd Not.:
(Nagoya-Nishiku) 047655
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%): Stahlgraber Otto
Graber GmbH, Germany (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales automotive & industrial products (--100%).
(Products
handled):
Automotive-related:
tube
repair materials tire repair materials, chemical products, tire valves &
hardware, tire balancing products;
Industrial-related: corrosion
protection, wear protection products, other
Clients: [Mfrs,
wholesalers] Auto Backs Seven, Bridgestone Corp, Bridgestone Cycle, SPK, Mitsui
Metal Mining, Nippon Steel, Sumitomo Rubber Ind, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Stahlgraber GmbH (60%), Technical Urethane (5%), other
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Juroku Bank (Odai)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
Annual
Sales |
|
910 |
884 |
822 |
716 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
50 |
48 |
40 |
27 |
|
Total
Assets |
|
|
N/A |
463 |
N/A |
|
Net
Worth |
|
|
292 |
244 |
204 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.94 |
7.54 |
14.80 |
0.85 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
52.70 |
.. |
|
|
N.Profit/Sales |
5.49 |
5.43 |
4.87 |
3.77 |
|
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.