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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
C T TAKAHASHI & CO LTD |
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Registered Office : |
Higashi-Ueno Koike Bldg 4F, 2-22-10 Higashi-Ueno Taitoku Tokyo
110-0015 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
June, 1952 |
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Com. Reg. No.: |
Limited Company |
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Legal Form : |
0105-01-029257 |
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Line of Business : |
Import, export, wholesale of paper-making machinery, industrial
equipment |
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No. of Employees : |
13 |
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 – 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 |
|
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 |
C T TAKAHASHI
& CO LTD
C. T. Takahashi KK
Higashi-Ueno Koike Bldg 4F, 2-22-10 Higashi-Ueno Taitoku Tokyo 110-0015,
JAPAN
Tel: 03-5818-2651
Fax: 03-5818-2656
URL: http://www.cttok.com
E-Mail address: (thru the URL)
Import, export, wholesale of paper-making machinery, industrial
equipment
Nil
USA
MASAYUKI MOROMI, PRES Toshiyasu
Kaji, v pres
Tomio Tanimura, dir Fumiaki
Takatsuka, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 2,434 M
PAYMENTS SLOW CAPITAL Yen 30 M
TREND UP WORTH Yen 319 M
STARTED 1952 EMPLOYES 13
TRADING FIRM SPECIALIZING IN MACHINEY & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established by C T Takahashi, USA (presided by
Tetsuji Takahashi), as its Japan marketing office in prewar days. The Japan office was incorporated in
1952. This is a trading firm for import;
export and wholesale of paper-making machinery & equipment (see OPERATION). Clients include major paper mills nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 2,434 million,
a 53% up from Yen 1,587 million in the previous term. Sales expanded as new demand increased from
Toshiba Corp group firms and Mitsubishi Paper Mills Co. The recurring profit was posted at Yen 4
million and the net profit at Yen 4 million, respectively, compared with Yen 9
million recurring profit and Yen 9 million net profit, respectively, a year
ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 5 million and the net profit at Yen 5 million, respectively, on a 3%
rise in turnover, to Yen 2,500 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1952
Regd No.: 0105-01-029257
(Tokyo-Taitoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 240,000
shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): C T Takahashi & Co (USA) (49),
Masayuki Moromi (14), Toshiyasu Kaji (9), Tomio Tanimura (8), Fumiaki Takatsuka
(7)
No. of
shareholders: 10
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales power plant equipment, chemicals (adhesives, coatings, silicon,
other), cables. Connectors, plugs, other (--100%)
Clients: [Mfrs,
wholesalers] Mitsubishi Paper Mills, Toshiba Hokuto Electronics Corp, Hokuetsu
Kishu Paper Co, Toshiba Electron Tubes & Device Co, Toshiba Corp, Kitakami
Paper Co, Nippon Daishowa Paperboard Co, Kowa Kogyosho Co, other
No. of accounts: 400
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] C T Takahashi & Co (USA), Thomas Electronics EU, Voith IHI
Paper Technology Co, other
Payment record: Slow
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG (Marunouchi)
Shoko Chukin Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
2,500 |
2,434 |
1,587 |
1,068 |
|
Recur. Profit |
|
5 |
4 |
9 |
|
|
Net Profit |
|
5 |
4 |
9 |
-19 |
|
Total Assets |
|
|
1,647 |
979 |
687 |
|
Current Assets |
|
|
1,611 |
843 |
|
|
Current Liabs |
|
|
1,254 |
447 |
|
|
Net Worth |
|
|
319 |
316 |
307 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
|
Div.Ttl in Million(¥) |
|
|
2.1 |
2.1 |
2.0 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.71 |
53.37 |
48.60 |
-42.08 |
|
|
Current Ratio |
|
.. |
128.47 |
188.59 |
.. |
|
N.Worth Ratio |
.. |
19.37 |
32.28 |
44.69 |
|
|
R.Profit/Sales |
|
0.20 |
0.16 |
0.57 |
.. |
|
N.Profit/Sales |
0.20 |
0.16 |
0.57 |
-1.78 |
|
|
Return On Equity |
.. |
1.25 |
2.85 |
-6.19 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
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.