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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TECIDO & CO LTD |
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Registered Office : |
Koshin Bldg 3F, 3-47-1 Higashi-Ikebukuro Toshimaku Tokyo 170-0013 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1988 |
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Com. Reg. No.: |
9133-01-007794 (Tokyo-Toshimaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of wall papers & fabrics |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit: |
Yen 5.5 Million |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 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
TECIDO & CO LTD
REGD NAME: KK
Tecido
MAIN OFFICE: Koshin
Bldg 3F, 3-47-1 Higashi-Ikebukuro Toshimaku Tokyo 170-0013 JAPAN
Tel:
03-3982-9051 Fax: 03-3980-9716
E-Mail address: (thru the URL)
Import, export,
wholesale of wall papers & fabrics
Shinjuku (Show
room)
MASAAKI EZURA,
PRES Kin’ichi Ohira,
ch
Takuo Akita, v ch Ken’ichi
Kawashima, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 577 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 23 M
TREND SLOW WORTH Yen
70 M
STARTED 1988 EMPLOYES 22
TRADING FIRM SPECIALIZING IN WALL PAPERS & FABRICS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 5.5 MILLION, 30 DAYS NORMAL TERMS
The subject company was
established on the basis of an export division separated from Yoshiteru Co Ltd
(founded 1966), and in 2006 the both companies merged to engage in both import
and export businesses. This is a trading
firm for import, export and wholesale of wall papers & fabrics, curtains,
other upholstery. Goods are imported
from USA, Europe, other
The sales volume for
Mar/2012 fiscal term amounted to Yen 577 million, a 3% down from Yen 592
million in the previous term. Exports
were hurt by the high Yen, reducing the earnings in Yen terms. The recurring profit was posted at Yen 3
million and the net profit at Yen 2 million, respectively, compared with Yen 2
million recurring profit and Yen 1 million net profit, respectively, a year
ago.
For the current term
ending Mar 2013 the recurring profit is projected at Yen 3 million and the net
profit at Yen 2 million, respectively, on a 2% rise in turnover, to Yen 590
million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 5.5 million, on 30 days normal terms.
Date Registered: Apr
1988
Regd No.:
9133-01-007794 (Tokyo-Toshimaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,856 shares
Issued: 464 shares
Sum: Yen 23.2 million
Major
shareholders (%): Ken’ichi Ohira (26), Masaaki Ezura (22), Takuo Akita (21), Ken’ichi
Kawashima (7)
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales wall papers & fabrics, curtains, curtain cloths, other
upholstery (--100%)
Clients: [Mfrs,
wholesalers] Seibu Department Store, McDonalds Japan, Lilycolor, Shinoda Inc,
Mitsui Homes, Beavertozan Co, NIP Corporation, Miyagi Co, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] York, Silpi, IDECO, Texdecor, Wallquest, Achilles Corp, Lonseal
Corp, Toli Corp, Federal Express, DHL Global Forwarding, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Ikebukuro-Higashiguchi)
Resona Bank
(Ikebukuro)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
590 |
577 |
592 |
556 |
|
Recur.
Profit |
|
3 |
3 |
2 |
|
|
Net
Profit |
|
2 |
2 |
1 |
1 |
|
Total
Assets |
|
|
438 |
412 |
406 |
|
Current
Assets |
|
|
310 |
259 |
|
|
Current
Liabs |
|
|
170 |
141 |
|
|
Net
Worth |
|
|
70 |
69 |
67 |
|
Capital,
Paid-Up |
|
|
23 |
23 |
23 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.25 |
-2.53 |
6.47 |
-13.93 |
|
|
Current Ratio |
|
.. |
182.35 |
183.69 |
.. |
|
N.Worth Ratio |
.. |
15.98 |
16.75 |
16.50 |
|
|
R.Profit/Sales |
|
0.51 |
0.52 |
0.34 |
.. |
|
N.Profit/Sales |
0.34 |
0.35 |
0.17 |
0.18 |
|
|
Return On Equity |
.. |
2.86 |
1.45 |
1.49 |
|
Notes: Forecast (or
estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<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.