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Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TOSHIN KOYO CO LTD |
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Registered Office : |
9-11-36 Minamimukonoso Amagasaki Hyogo-Pref 661-0033 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
December, 1955 |
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Com. Reg. No.: |
1400-01-050154 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of dyeing machines |
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No. of Employees : |
65 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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 |
TOSHIN KOYO CO LTD
Toshin Kogyo KK
9-11-36 Minamimukonoso Amagasaki Hyogo-Pref 661-0033 JAPAN
Tel: 06-6438-0901
Fax: 06-6437-6423
URL: http://www.toshin-kogyo.co.jp
E-Mail address: info@toshin-kogyo.co.jp
Mfg of dyeing machines
Nil
At the caption address
KOICHI ICHINOSE, PRES Takako
Ichinose, mgn dir
Shiro Ichinose, dir Tokio
Takita, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 4,235 M
PAYMENTS SLOW CAPITAL Yen 37 M
TREND SLOW WORTH Yen 3,436 M
STARTED 1955 EMPLOYES 65
MFR OF DYEING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by father of Kioicho Ichinose in
order to make most of his experience in the subject line of business. This is a specialized mfr, owned and operated
by the Ichinose family, of dyeing machines (See OPERATION). Machines are
exported to 100 clients of worldwide destinations, mainly thru general trading
houses. Domestic clients include major
textile makers, general trading houses, other, nationwide.
The sales volume for Nov/2011 fiscal term amounted to Yen 4,235 million,
a 26% down from Yen 5,719 million in the previous term. High Yen hurt exports, reducing earnings
& profits in Yen terms. Foreign
currency exchange losses were incurred.
The operations continued in the red to register Yen 530 million
recurring loss and Yen 542 million net losses, respectively, compared with Yen
29 million recurring profit and Yen 492 million net losses, respectively, a
year ago.
For the term that ended Nov 2012 the operations were projected to come
back to profitability but still limited to a minimum amount post-taxes, on a 3%
rise in turnover, to Yen 4,360 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Dec
1955
Regd No.: 1400-01-050154
(Hyogo-Amagasaki)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 300,000 shares
Issued:
75,000 shares
Sum: Yen
37.5 million
Major shareholders (%): Takako Ichinose (10), Koichi Ichinose
(9), Shiro Ichinose (6), Setsuko Kawasaki (5)
No. of
shareholders: 18
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
dyeing machines: automatic flat screen machines, automatic rotary screen
printing machines, automatic rotary screen applicator, flexible mfg system,
film-less inkjet engraving machines, automatic color dispensing system, twenty
thirty digital inkjet printer for textile, automatic rapid steamer, other
(--100%)
Clients: [Mfrs,
wholesalers] Itochu Corp, Sojitz Corp, Marubeni Corp, Toyota Tsusho Corp,
Itochu Systec, Chori Corp, Kanematsu Corp, Tokai Senko KK, Nihon Keisen,
Komatsu Seiren Co, Toyobo Co, Wakayama Senko Co, Urase Corp, other
Exports to 100 firms in Asia, Europe, USA, Russia, other worldwide
destinations.
No. of accounts: 500
(Domestic clients)
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Seiren Electronics Co, Kinryo Electric Co, Habajit Japan, Tsuchiya
Seisakusho, Matsuoka Seiki Ind, Fuji Electric Co, Tokyo Keiki Inc, other
Payment record: Slow
Location: Business area in
Amagasaki, Hyogo-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Koshienguchi)
Mizuho Bank (Amagasaki)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2012 |
30/11/2011 |
30/11/2010 |
30/11/2009 |
|
|
Annual Sales |
|
4,360 |
4,235 |
5,719 |
4,143 |
|
Recur. Profit |
|
0 |
-530 |
29 |
-152 |
|
Net Profit |
|
0 |
-542 |
-492 |
-201 |
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Total Assets |
|
|
6,360 |
6,984 |
7,450 |
|
Current Assets |
|
|
5,283 |
5,943 |
6,158 |
|
Current Liabs |
|
|
1,676 |
1,861 |
2,024 |
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Net Worth |
|
|
3,436 |
3,981 |
4,476 |
|
Capital, Paid-Up |
|
|
37 |
37 |
37 |
|
Div.Ttl in Million (¥) |
|
|
2.7 |
2.7 |
2.7 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.95 |
-25.95 |
38.04 |
-30.58 |
|
|
Current Ratio |
|
.. |
315.21 |
319.34 |
304.25 |
|
N.Worth Ratio |
.. |
54.03 |
57.00 |
60.08 |
|
|
R.Profit/Sales |
|
0.00 |
-12.51 |
0.51 |
-3.67 |
|
N.Profit/Sales |
0.00 |
-12.80 |
-8.60 |
-4.85 |
|
|
Return On Equity |
.. |
-15.77 |
-12.36 |
-4.49 |
|
Notes: Forecast (or estimated) figures for the 30/11/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.