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Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TSUBAKI
NAKASHIMA CO LTD |
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Registered Office : |
19 Shakudo Katsuragi Nara-Pref 639-2162 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
January 2007 |
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Com. Reg. No.: |
014908 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturer of bearings, machinery parts & components, air blowers, their parts & components. |
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No. of Employees : |
800 |
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 AND
ADDRESS
TSUBAKI NAKASHIMA CO LTD
REGD NAME: KK
Tsubaki Nakashima
MAIN OFFICE: 19
Shakudo Katsuragi Nara-Pref 639-2162 JAPAN
Tel:
0745-48-2891 Fax: 0745-48-6583
URL: http://www.tsubaki.com/
E-mail: hideyuki-sakai@tsubaki.com
ACTIVITIES: Mfg
of bearings
BRANCHES: Tokyo
OVERSEAS: USA
(3), Poland, China (2), Taiwan, India
FACTORIES: At
the caption address, Koriyama (Nara-Pref), Sasebo (Nagasaki)
OFFICER(S): KENJI
YAMADA, PRES Takatsuki Kondo,
ch
Hiroyuki
Otsuki, dir Ken Kohno,
dir
Yasuo Nishiguchi,
dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 23,840 M
PAYMENTS REGULAR CAPITAL Yen
15,824 M
TREND STEADY WORTH Yen 32,471 M
STARTED 2007 EMPLOYES 800
COMMENT: MFR
OF BEARINGS
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 354.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS:
The subject company was established originally by Kosaburo Kondo in
order to make most of his experience in the subject line of business, as
Tsubakimoto Seiko KK. In 2007,
operations went under and restructured by merging Nakashima Corp, and renamed
as captioned. This is a specialized mfr
of bearings (stainless steel, ceramic, synthetic resin make). In Apr 2011, the owner Nomura Holdings
transferred the whole share in the firm to Carlyle Group, USA and the firm
became its subsidiary. Clients are major
mfrs, wholesalers, other, nationwide.
FINANCIAL
INFORMATION:
The sales volume for
Dec/2012 fiscal term for irregular 9 months due to change in fiscal term from Mar
amounted to Yen 13,840 million, a 12% down as adjusted on a 12-month basis from
Yen 20,952 million in the previous term.
The recurring profit was posted at Yen 1,386 million and the net profit
at Yen 420 million, respectively, compared with Yen 2,709 million recurring
profit and Yen 1,288 million net losses, respectively, a year ago.
For the current
term ending Dec 2013 the recurring profit is projected at Yen 1,400 million and
the net profit at Yen 450 million, respectively, on a 5% rise in turnover, to
Yen 14,500 million. Business is seen
steadily expanding.
The financial situation
is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 354.9
million, on 30 days normal terms.
REGISTRATION
Date
Registered: Jan 2007
Regd
No.: (Nara-Katsuragi) 014908
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
31,648 shares
Issued: 31,648 shares
Sum:
Yen 15,824 million
Major
shareholders (%): CJP TN Holdings, LP (90), Takatsuki Kudoh (10)
No
of shareholders: 2
Nothing detrimental is known as to
the commercial morality of executives.
OPERATION:
Activities: Mfg of bearings,
machinery parts & components, air blowers, their parts & components
(--100%)
(Mfg items): precision balls, precision machine
balls, feed screws, positioning tables, blowers & general industrial
machinery, other
Clients: [Mfrs, wholesalers] J-Tect,
Nachi-Fujikoshi Corp, Minebea Co, NTN Corp, Pilot Corp, Okuma Corp, Mitsubishi
Corp, Pilot Ink, Toshiba Machinery, DAIBEA Co, other
No. of accounts:
500
Domestic areas of activities:
Nationwide
Suppliers [Mfrs,
wholesalers] Nachi-Fujikoshi Corp, Tungaloy Corp, Umetoku Inc, Daido Metal Ind,
Okaya & Co, Asahi Diamond Ind, Kanehira Steel Co, Koshuha-Foundry Co,
other.
Payment record: Regular
Location: Business area in Nara. Office premises at the caption address are
owned and maintained
satisfactorily.
Bank
References:
SMBC (Osaka-Chuo)
MUFG (Osaka)
Relations: Satisfactory
FINANCES:
(In Million Yen)
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Terms Ending: |
31/12/2013 |
31/12/2012 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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14,500 |
13,840 |
20,952 |
19,127 |
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Recur.
Profit |
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1,400 |
1,386 |
2,709 |
2,273 |
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Net
Profit |
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450 |
420 |
1,288 |
740 |
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Total
Assets |
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79,002 |
80,069 |
75,056 |
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Current
Assets |
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23,095 |
23,071 |
20,326 |
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Current
Liabs |
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2,835 |
3,312 |
5,311 |
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Net
Worth |
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32,471 |
32,024 |
30,531 |
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Capital,
Paid-Up |
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15,824 |
15,824 |
15,753 |
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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 |
4.77 |
-11.88 |
9.54 |
60.02 |
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Current Ratio |
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.. |
814.64 |
696.59 |
382.72 |
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N.Worth Ratio |
.. |
41.10 |
40.00 |
40.68 |
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R.Profit/Sales |
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9.66 |
10.01 |
12.93 |
11.88 |
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N.Profit/Sales |
3.10 |
3.03 |
6.15 |
3.87 |
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Return On Equity |
.. |
1.29 |
4.02 |
2.42 |
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Notes: Fiscal term changed to Dec/2012 from Mar/2012. Sales growth is adjusted on a 12-month basis.
Forecast (or
estimated) figures for the 31/03/2012 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 |
-- |
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.