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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TOHO INTERNATIONAL INC |
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Registered Office : |
Minami-Kyuhoji |
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Country : |
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Date of Incorporation : |
January, 1988 |
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Com. Reg. No.: |
(Osaka-Chuoku) 085415 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of wire & spring; import of wire/cable making equipment
& tools |
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No. of Employees : |
29 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source
: CIA |
TOHO INTERNATIONAL
INC
REGD NAME: Toho International KK
MAIN OFFICE: Minami-Kyuhoji Osaka Sangyo Bldg 7F, 4-3-5
Minami-Kyuhojimachi Chuoku
Tel: 06-6243-4561 Fax:
06-6243-4565
URL: http//:www.toho-intl.co.jp
E-mail: export@toho-intl.co.jp;
import@toho-intl.co.jp
Export of wire & spring; import of wire/cable making equipment &
tools
Tokyo
Singapore
HIROFUMI NAKAZAKI, PRES
Taeko Nakamura, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,857 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND SLOW WORTH Yen 297 M
STARTED 1988 EMPLOYES 29
TRADING FIRM SPECIALIZING IN WIRE & SPRING AND TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Hirofumi Nakazaki in order to
make most of his experience in the subject line of business. This is a trading firm for import and export
of precision wire & spring, wire/spring making tools & equipment (See OPERATION). Exports to Singapore, Hong Kong, China, other
S/E Asian countries, and imports from USA, Europe, other. Domestic clients include major electric Ind,
other
The sales volume for Sept/2012 fiscal term amounted to Yen 1,857
million, a 6% down from Yen 1,976 million in the previous term. Exports were hurt by the high Yen in the
first half, reducing revenues in Yen terms.
Unit prices of some of the products declined. The recurring profit was posted at Yen 93
million and the net profit at Yen 56 million, respectively, similarly in the
previous term. .
For the term that ended Sept 2012 the recurring profit was projected at
Yen 95 million and the net profit at Yen 60 million, respectively, on a 5% rise
in turnover, to Yen 1,950 million. Final
results are yet to be released.
Financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jan
1988
Regd No.: (Osaka-Chuoku)
085415
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600
shares
Sum: Yen
30 million
Major shareholders
(%):
Hirofumi Nakazaki (70), Employees’ S/Holding Assn (10), Taeko Nakamura (5),
other
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Exports
precision various types of wire & spring, spring wire, strips for spring,
other (--60%); imports wire/spring making tools/equipment, such as wire drawing
dies, cold pressure welders, precision die tools, optical instruments for die
& wire measurement, other (--40%).
Exports oil tempered alloy & stainless steel wire for important parts
of a car, such as valve spring of an engine, suspensit9n springs in automobile.
Clients: [Mfrs,
wholesalers] Sumitomo (SEI) Steel Wire Corp, Sumiden Fine Conductors, Electric
Ind, Bridgestone Corp, Furukawa Electric Ind, Hitachi Cable Ltd, Tokusen Corp,
Sumitomo Electric Ind Tochigi, Yazaki Corp (Electric Ind), Japan Fine Steel
Corp, Kurabe Ind, other.
Exports to Hong Kong, China, Singapore, other S/E Asian countries
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Sugita Wire Inc, Sumitomo Electric Ind, NGK Insulators, Nippon Seisen Co, Koyo
Senzai Co, NAS Stainless Steel Strip Mfg, JFE Techno Wire, Y Spring Corp,
Tokusen Corp, Uji Shindo Co, other.
Imports from USA, Europe, other.
Payment record: No complaints
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Mizuho Bank
(Semba)
Kinki Osaka
Bank (Joto)
Relations:
Satisfactory
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Terms
Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
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Annual Sales |
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1,950 |
1,857 |
1,976 |
2,000 |
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Recur. Profit |
|
95 |
93 |
93 |
90 |
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Net Profit |
|
60 |
56 |
56 |
51 |
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Total Assets |
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1,191 |
1,118 |
1,021 |
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Current Assets |
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|
955 |
904 |
818 |
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Current Liabs |
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|
730 |
581 |
564 |
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Net Worth |
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297 |
268 |
234 |
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Capital, Paid-Up |
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30 |
30 |
30 |
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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 |
5.01 |
-6.02 |
-1.20 |
30.98 |
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Current Ratio |
|
.. |
130.82 |
155.59 |
145.04 |
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N.Worth Ratio |
.. |
24.94 |
23.97 |
22.92 |
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R.Profit/Sales |
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4.87 |
5.01 |
4.71 |
4.50 |
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N.Profit/Sales |
3.08 |
3.02 |
2.83 |
2.55 |
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Return On Equity |
.. |
18.86 |
20.90 |
21.79 |
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Notes: Forecast (or estimated) figures for the 30/09/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.10 |
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|
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.