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Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TAISHO MTC CO LTD |
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Registered Office : |
Shiodome City Center, 1-5-2 Higashi-Shimbashi Minatoku Tokyo 105-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
0104-01-052077
(Tokyo-Minatoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of taurine |
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No. of Employees : |
22 |
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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Maximum Credit Limit : |
Yen 46.1 Million |
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Status : |
Satisfactory |
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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 – 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 |
|
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 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 |
TAISHO MTC CO LTD
Taisho M. T.C. KK
Shiodome City
Center, 1-5-2 Higashi-Shimbashi Minatoku Tokyo 105-0021, JAPAN
Tel:
03-6253-3859
Fax: 03-6253-4235
*.. The is its Omuta Factory
URL: http://www.taisho.co.jp (Of the
parent, Taisho Pharmaceutical Co)
E-Mail address: (thru the URL)
Mfg of taurine
Nil
Omuta
(as given)
KAZUNORI
TANI, PRES Tohru Maki, v pres
Yoshiharu
Sakaki, dir Toshi
Yoshitani, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,780 M
PAYMENTS Slow but Correct CAPITAL Yen
400 M
TREND UP WORTH Yen 418 M
STARTED 1993 EMPLOYES 22
MFR OF TAURIN, AFFILIATED TO TAISHO PHARMACEUTICAL CO.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 46.1 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a division separated from Taisho Pharmaceutical Co Ltd (See REGISTRATION). This is a specialized mfr of taurine. Products are wholly shipped to Mitsui Chemicals Inc.
The sales volume for Dec/2011 fiscal term amounted to Yen 1,780 million, a 10% up from Yen 1,620 million in the previous term. The hike of the material/products contributed. The net profit was posted at Yen 2 million, similarly in the previous term.
For the term that ended Dec 2012 the net profit was projected at Yen 3 million, on a 4% rise in turnover, to Yen 1,850 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 46.1 million, on 30 days normal terms.
Date Registered: Apr 1993
Regd No.: 0104-01-052077 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
32,000 shares
Issued:
8,000 shares
Sum: Yen 400 million
Major shareholders (%): Taisho Pharmaceutical Co* (60),
Mitsui Chemicals (40)
No. of shareholders: 2
*.. Top-ranked mfr of nonprescription drugs, Tokyo, listed Tokyo S/E, capital Yen 30,000 million, sales Yen 139,952 million, operating profit Yen 19,546 million, recurring profit Yen 23,671 million, net profit Yen 12,666 million, total assets Yen 655,467 million, net worth Yen 548,975 million, employees 6,397, pres Akira Uehara
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures taurine (100%)
Clients: [Chemical Mfr] Wholly shipped to Mitsui Chemicals Inc
No. of accounts: 1
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsui Chemicals Inc, other
Payment record: Slow but Correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (H/O)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
|
1,850 |
1,780 |
1,620 |
1,450 |
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Recur.
Profit |
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Net
Profit |
|
3 |
2 |
2 |
1 |
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Total
Assets |
|
|
979 |
1,002 |
941 |
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Current
Assets |
|
|
674 |
704 |
657 |
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Current
Liabs |
|
|
561 |
585 |
527 |
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Net
Worth |
|
|
418 |
416 |
414 |
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Capital,
Paid-Up |
|
|
400 |
400 |
400 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.93 |
9.88 |
11.72 |
20.83 |
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Current Ratio |
|
.. |
120.14 |
120.34 |
124.67 |
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N.Worth Ratio |
.. |
42.70 |
41.52 |
44.00 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
0.16 |
0.11 |
0.12 |
0.07 |
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Return On Equity |
.. |
0.48 |
0.48 |
0.24 |
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Notes:
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.17 |
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UK Pound |
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.