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Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TOMO CORPORATION LTD |
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Registered Office : |
TOC Bldg 7F, 7-22-17 Nishigotanda Shinagawaku Tokyo 141-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
January, 1980 |
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Com. Reg. No.: |
0107-01-007051 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of folk crafts, other |
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No. of Employees : |
57 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
TOMO CORPORATION
LTD
KK Tomo Corporation
TOC Bldg 7F, 7-22-17 Nishigotanda Shinagawaku Tokyo 141-0031 JAPAN
Tel: 03-3494-3334
Fax: 03-3494-3316
E-Mail address: info@tomo-web.com
Import, wholesale of folk crafts, other
Tokyo (2) (subsidiaries), Osaka
SEIZO TOMOOKA, PRES Makoto
Tomooka, s/mgn dir
Hideko Tomooka, mgn dir Kiyohide
Tomooka, dir
Kozue Kuribayashi, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 1,780 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND UP WORTH Yen 668 M
STARTED 1980 EMPLOYES 57
IMPORTER AND WHOLESALER SPECIALIZING IN FOLK CRAFTS, OTHERS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDI-NARY BUSINESS
ENGAGEMENTS.
The subject company was established by Seizo Tomooka in order to make
effective use of his previous experience in foreign trading. This is a trading firm, owned and managed by
the Tomooka family, specializing in import and wholesale of folk crafts
centrally, having 4 marketing divisions; folk crafts div, woodcarving folk
handicrafts; home interior div; textile div, and accessories div. Goods are widely imported from India,
Indonesia, Thailand, Philippines, Guatemala, Pakistan, China, Vietnam, Nepal,
France, Spain, other. Owns two
subsidiaries: one in the wholesaling and one in the retailing, named KK UHT,
operating 6 stores retailing these imported goods centrally. Wholesaling divisions include major specialty
stores in the similar line of business.
The sales volume for Dec/2012 fiscal term amounted to Yen 1,780 million,
a 9% up from Yen 1,636 million in the previous term. Imports increased with clients expanded. The recurring profit was posted at Yen 215
million and the net profit at Yen 218 million, respectively, compared with Yen
87 million net profit a year ago.
For the current term ending Dec 2013 the recurring profit is projected
at Yen 230 million and the net profit at Yen 230 million, respectively, on a 7%
rise in turnover, to Yen 1,900 million..
Demand is seen picking up. Weaker
Yen will contribute to raise sales earnings and profits in Yen terms.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date
Registered: Jan 1980
Regd No.: 0107-01-007051 (Tokyo-Shinagawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,000
shares
Sum: Yen
50 million
Major shareholders
(%): Seizo Tomooka (50), and families (--50)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
wholesales folk crafts, folk garments, textile materials, cutlery, table
cloths, mats, fingerings, pierced earrings, scarves, bags, incenses, candles,
table lamps, cutlery, textile materials, store curtains, table cloths, kitchen
mats, jute items, handmade paper calendar, woodcarving, furniture, incense,
incense stands, iron items, bamboo items, clothes, original designed fabrics,
others (--100%)
(Countries of Origin / Trading
Partners)
[Asia] India, Indonesia, Thailand, Vietnam, Nepal, Taiwan, Hong Kong,
China, Iran, Pakistan, Philippines, and more
[Latin American] Peru, Bolivia, Guatemala, Mexico, and more
[Europe] Greece, Italy, Spain, and more
[Africa] in each country
Clients: [Specialty stores,
wholesalers] Friends Hill (50%), Etoile-Kaito, Bakers’ Street, Cabin, Shimachu,
Passport, Bakers’ Street, UHT, Sagami Corp, Titicaca Corp, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from India, Indonesia, Thailand, China, Mexico, Peru,
Italy, Spain, Nepal, Philippines, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank (Gotanda)
MUFG (Mita)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
1,900 |
1,780 |
1,636 |
1,447 |
|
Recur. Profit |
|
230 |
215 |
|
|
|
Net Profit |
|
230 |
218 |
87 |
26 |
|
Total Assets |
|
|
1,840 |
1,757 |
1,813 |
|
Current Assets |
|
|
737 |
666 |
650 |
|
Current Liabs |
|
|
282 |
235 |
419 |
|
Net Worth |
|
|
668 |
542 |
473 |
|
Capital, Paid-Up |
|
|
50 |
50 |
50 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.74 |
8.80 |
13.06 |
2.62 |
|
|
Current Ratio |
|
.. |
261.35 |
283.40 |
155.13 |
|
N.Worth Ratio |
.. |
36.30 |
30.85 |
26.09 |
|
|
R.Profit/Sales |
|
12.11 |
12.08 |
.. |
.. |
|
N.Profit/Sales |
12.11 |
12.25 |
5.32 |
1.80 |
|
|
Return On Equity |
.. |
32.63 |
16.05 |
5.50 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
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.