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Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TOHATSU MARINE KK |
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Registered Office : |
4495-9 Shimodaira Komagane City Nagano-Pref 299-4101 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
February, 1988 |
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Com. Reg. No.: |
1000-01-021322 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of outboard engines &
accessories |
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No. of Employees : |
240 |
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 |
COMPANY NAME
TOHATSU MARINE KK
REGD NAME
Tohatsu Marine KK
MAIN OFFICE
4495-9 Shimodaira
Komagane City Nagano-Pref 299-4101 JAPAN
Tel:
0265-82-1082
Fax: 0265-82-1104
URL: Error! Hyperlink reference not valid.
E-Mail
address: info@tohatsu.co.jp
ACTIVITIES
Mfg of
outboard engines & accessories
BRANCHES
Nil
FACTORIES
At the
caption address
OFFICERS
MITSUO
KANEKO, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 17,250 M
PAYMENTS SLOW
BUT CORRECT CAPITAL Yen 418 M
TREND SLOW WORTH Yen
936 M
STARTED 1988 EMPLOYES 240
COMMENT
MFR SPECIALIZING IN OUTBOARD ENGINES, JOINTLY OWNED BY
TOHATSU CORP & BRUNSWICK INT’L INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 311.4 MILLION, 30 DAYS NORMAL TERMS,
HIGHLIGHTS
The subject company was established on the basis of the
Okaya Factory separated from Tohatsu Corporation (see REGISTRATION). This is a
specialized mfr of outboard engines and accessories for fishing boats,
sailboats, other, virtually as mfg division of the parent. Products are shipped to the parent, with
partially supplied to other clients. In
Oct 2004, capital was increased to Yen
418 million by the participation of Brunswick International Ltd.
FINANCIAL INFORMATION
Financials are consolidated by the parent and only partially
disclosed
The sales volume for Dec/2012 fiscal term amounted to Yen
19,250 million, a 14% down from Yen 19,990 million in the previous term. Demand decreased substantially after the
Great North Japan Earthquake in Mar 2011 when numerous fishing boats were sunk
or destroyed. The net profit was posted
at Yen 57 million, compared with Yen 360 million a year ago.
For the current term ending Dec 2013 the net profit is
projected at Yen 60 million, on a 3% rise in turnover, to Yen 17,800
million.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 311.4 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb
1988
Regd No.: 1000-01-021322
(Nagano-Komagane)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 8,360 shares
Issued: 8,360 shares
Sum: Yen
418 million
Major shareholders (%): Tohatsu Corp*(50), Brunswick
International Ltd (50)
No. of shareholders: 2
*.. Mfr & wholesaler of outboard engines & accessories, Tokyo, founded 1932, capital Yen 500 million, turnover Yen 26,700 million, recurring profit Yen 1,725 million, net losses Yen 952 million, total assets Yen 16,006 million, net worth Yen 6,002, employees 512, pres Mitsuru Kaneko
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufacturing Division of Tohatsu Corp for manufacturing outboard engines (two-stroke, four-stroke, TLDI (registered brand) for motorcycles, fishing boats, snow vehicles, pleasure boats, fire pumps & submarine pumps, and accessories (--100%).
Products are shipped to the parent, Tohatsu Corporation.
Accessories:
Control boxes: side mount remote control boxes, top mount remote control boxes, twin top remote control boxes, drag link, bar kit, remote control fitting kit, extension tiller handle, vertical starting device kit); Gauges: tachometer, multi-purpose meter repair kits, speed meter, trim meter, volt meter, hour meter, water pressure meter, temperature meter; Propellers; Fuel Tanks; others.
Clients: [Mfrs, wholesalers] Tohatsu Corp, Mercury Marine, other.
No. of accounts: 10 (Direct clients only)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kokusan Denki Co, Marine Kosan, Tohatsu Corp, other.
Payment record: Slow But Correct
Location: Business area in Komagane City, Nagano-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni Bank (Komagane)
MUFG (Ikebukuro-Higashiguchi)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
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Annual
Sales |
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17,800 |
17,250 |
19,990 |
16,390 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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60 |
57 |
360 |
479 |
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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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936 |
897 |
645 |
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Capital,
Paid-Up |
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418 |
418 |
418 |
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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 |
3.19 |
-13.71 |
21.96 |
27.84 |
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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 |
0.34 |
0.33 |
1.80 |
2.92 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2013 fiscal term.
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 |
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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.