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Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKO SANGYO CO LTD |
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Registered Office : |
TMM Bldg 4F, 1-10-5 Iwamotocho Chiyodaku Tokyo 101-0032 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2012 |
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Date of Incorporation : |
June 1966 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Mfg, import, wholesale of wastes recycling systems, lawn mowers, road pavers, other industrial equipment |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limited : |
Yen 19.6 million |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 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 |
TOKO SANGYO CO LTD
REGD NAME: Toko Sangyo KK
MAIN OFFICE: TMM Bldg 4F, 1-10-5 Iwamotocho Chiyodaku
Tokyo 101-0032 JAPAN
Tel:
03-3862-5921 Fax: 03-3863-1194
*.. Moved to the caption
address in Jan 2009 from the former as given
URL: http://www.tokosangyo.co.up/
E-Mail
address: info@tokosangyo.co.jp
Mfg,
import, wholesale of wastes recycling systems, lawn mowers, road pavers, other
industrial equipment
Ebetsu,
Kawagoe, Sendai, Chiba, Nagoya, Hiroshima, Kochi, Fukuoka
Kawagoe,
Miki (Hyogo)
MASASHIGE
KATSUMATA, PRES
Akira Takagi,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,165 M
PAYMENTS REGULAR CAPITAL Yen 112 M
TREND UP WORTH Yen 293 M
STARTED 1966 EMPLOYES 78
MFR SPECIALIZING IN RECYCLING SYSTEMS AND LAWAN MOWERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 19.6 MILLION, 30 DAYS NORMAL TERMS
The
subject company was established by Susumu Katsumata in order to make most of
his experience in the subject line of business.
Masashige is his son. Owned and
operated essentially by the Katsumata family, the subject firm specializes in
mfg industrial pumps, engines, wastes recycling systems: shredders, crushers,
chippers to crush such wastes as leaves, cut trees, rail sleepers, cardboards,
bamboo wastes, etc); also handles turf controllers, line markers, water
rollers, soil processors, etc to be used for grounds, parks, golf courses,
other. Clients include major mfrs in the
similar line of products. Other than own
mfg, the goods are imported mainly from USA, as sole import agent.
The sales volume for Apr/2012 fiscal term amounted to Yen
2,165 million, a6% up from Yen 2,051 million in the previous term. Waste recycling systems were in good
demand. Exports increased. The recurring profit was posted at Yen 123
million and the net profit at Yen 110 million, respectively, compared with Yen
72 million recurring profit and Yen 54 million net profit, respectively, a year
ago.
For the current term ending Apr 2013 the recurring profit is
projected at Yen 125 million and the net profit at Yen 115 million,
respectively, on a 4% rise in turnover, to Yen 2,250 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 19.6 million, on 30 days normal terms.
Date Registered: Jun 1966
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
768,000 shares
Issued:
224,000 shares
Sum: Yen 112
million
Major
shareholders (%): Tokyo Medium & Small Enterprise Promotion &
Investment Assn (25), Masashige Katsumata (15), Eikichi Katsumata (15), Miyoko
Katsumata (7)
No.
of shareholders: 14
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures, imports and wholesales
wastes recycling systems (--50%): shredders, chippers, crushers, etc for
crushing leaves, branches, sleepers, cardboards, bamboo wastes, palms, etc,
also manufactures industrial pumps for multi-purpose use; engines, other
industrial machinery & equipment (50%): turf mowers, grass cutters, turf
controllers, line markers, water rollers, soil processors, power sprayers, beach
cleaners, sand cleaners, for multiple use in school grounds, parks, gold
courses, beaches, etc. (The breakdown
figures are all about)
Clients: [Mfrs, wholesalers] Yanmar
Agricultural Equipment, Toko Tech, Polymer Engineering, World Sports, Toshiba Finance,
Lion Engineering, Hitachi Capital, Yanmar Okinawa, Sanmi Techs, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Viking Pump,
Zenith Products, Zenith, IMO, Penberthy, Pulsa Feeder, Blagdon, other.
Domestically supplied form:
Riken Green, Yanmar Agricultural Equipment, EGL Japan, Toko Green, other.
Payment record:
Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
Resona
Bank (Akihabara)
Shoko
Chukin Bank (Ueno)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/04/2013 |
30/04/2012 |
30/04/2011 |
30/04/2010 |
|
|
Annual Sales |
|
2,250 |
2,165 |
2,051 |
2,045 |
|
Recur. Profit |
|
125 |
123 |
72 |
|
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Net Profit |
|
115 |
110 |
54 |
64 |
|
Total Assets |
|
|
2,005 |
1,924 |
1,939 |
|
Current Assets |
|
|
1,730 |
1,643 |
|
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Current Liabs |
|
|
861 |
809 |
|
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Net Worth |
|
|
293 |
186 |
134 |
|
Capital, Paid-Up |
|
|
112 |
112 |
112 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.93 |
5.56 |
0.29 |
2.25 |
|
|
Current Ratio |
|
.. |
200.93 |
203.09 |
.. |
|
N.Worth Ratio |
.. |
14.61 |
9.67 |
6.91 |
|
|
R.Profit/Sales |
|
5.56 |
5.68 |
3.51 |
.. |
|
N.Profit/Sales |
5.11 |
5.08 |
2.63 |
3.13 |
|
|
Return On Equity |
.. |
37.54 |
29.03 |
47.76 |
|
Notes:
Forecast (or estimated) figures for the 30/04/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.