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Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TANAKA & CO LTD |
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Registered Office : |
Osaka Ekimae Daisan Bldg 1405, 1-1-3 Umeda
Kitaku Osaka 530-0001 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
July 1962 |
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Legal Form : |
Limited Company |
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Line of Business : |
Exporter of dry batteries |
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No. of Employees : |
01 |
RATING & COMMENTS
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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 : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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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 |
TANAKA & CO LTD
Tanaka Boeki KK
Osaka Ekimae
Daisan Bldg 1405, 1-1-3 Umeda Kitaku Osaka 530-0001 JAPAN
Tel: 06-6347-0781 Fax: 06-6344-3929
URL: N/A
Export
of dry batteries
Nil
KEIICHIRO
TANAKA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES r/WEAK A/SALES Yen
87 M
PAYMENTS SLOw CAPITAL Yen 10 M
TREND SLOW WORTH Yen 9 M
STARTED 1962 EMPLOYES 1
EXPORTER OF DRY BATTERIES.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by father of Keiichiro Tanaka in
order to make most of his experience in the subject line of business. This is a trading firm, owned and operated by
Tanaka family, a one-man company, for export of dry batteries, others. Goods are exported to Europe, Africa,
Mid-Near East and S/East countries.
Financials are only partially disclosed.
The sales volume for Jun/2013 fiscal term amounted to Yen 87 million, a
19% down from Yen 107 million in the previous term. High Yen hurt exports, reducing revenues
& profit in Yen terms. Operations
continued in the red for 6 consecutive years, and posted Yen 21 million net
losses for the term, compared with Yen 78 million net loss a year ago.
For the current term ending Jun 2014 the operations are expected to come
back to profitability to post Yen 20 million net profit, on a 1.5% rise in
turnover, to Yen 90 million. Lower Yen
will recover export revenues
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
Date
Registered: Jul 1962
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 80,000 shares
Issued:
20,000 shares
Sum: Yen 10 million
Major shareholders (%): Keiichiro Tanaka (40) and
families
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports dry
batteries, other (--100%)
Clients: [Mfrs,
wholesalers] Export to Europe, Africa, Mid/Near East, Asian countries, other
No. of accounts: Unavailable
Domestic areas of
activities: Centered in Osaka-Pref
Suppliers: [Mfrs,
wholesalers] Eastborne Chemical, Electric Chemical Ind, other
Payment record: Slow
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Umeda)
MUFG (Osaka-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
Annual
Sales |
|
90 |
87 |
107 |
168 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
20 |
-21 |
-78 |
-76 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
9 |
12 |
66 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.45 |
-18.69 |
-36.31 |
-13.85 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
22.22 |
-24.14 |
-72.90 |
-45.24 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
UK Pound |
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
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 |
|
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.