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Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
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Name : |
TOYOTSU MACHINERY CORPORATION |
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Registered Office : |
Meieki Imai Bldg, 4-10-25 Meieki Nakamuraku Nagoya 450-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
February, 1978 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engineering of car production lines |
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No. of Employees : |
522 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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.
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Source : CIA |
TOYOTSU MACHINERY
CORPORATION
KK Toyotsu Machinery
Meieki Imai Bldg, 4-10-25 Meieki Nakamuraku Nagoya 450-0002 JAPAN
Tel: 052-569-9100 Fax:
052-569-7101
URL: http://www.toyotsu-machinery.co.jp
E-Mail address: (thru the URL)
Engineering of car production lines
Toyoda, Tokyo, Osaka, Hamamatsu, Hino, Toyama, other (Tot 12)
USA, China
Toyoda
MASANORI YAMASE, PRES Koichi
Wada, mgn dir
Tetsuo Tajiri, mgn dir Hisao
Kawai, mgn dir
Hiroki Sawayama, dir Yuji
Hamamoto, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 72,659 M
PAYMENTS REGULAR CAPITAL Yen
325 M
TREND UP WORTH Yen 5,195 M
STARTED 1978 EMPLOYES 522
ENGINEERING OF CAR PRODUCTION LINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established as Toyota Engineering KK and in 2010
integrated group 4 companies and renamed as captioned. This is an engineering firm of car production
lines for Toyota Motor Corp, Sales
offices are in USA, China and Thailand.
The sales volume for Mar/2012 fiscal term amounted to Yen 72,659
million, a 66% up from Yen 43,659 million in the previous term. Car production was steeply rose by Toyota
Motor Corp, both in and out. The
recurring profit was posted at Yen 2,125 million and the net profit at Yen
1,096 million, respectively, compared with Yen 792 million recurring profit and
Yen 407 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 22,00 million and the net profit at Yen 1,100 million, respectively, on
a 4% rise in turnover, to Yen 76,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Feb
1978
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 2.64 million shares
Issued:
660,000 shares
Sum: Yen
325 million
Major shareholders
(%): Toyota Tsusho Corp*
(100)
*.. Sole trading firm
of Toyota group, Nagoya, founded 1948, listed Tokyo, Nagoya S/E’s, capital Yen
64,936 million, sales Yen 5,916,759 million, operating profit Yen 92,403
million, recurring profit Yen 115,110 million, net profit Yen 66,205 million,
total assets Yen 2,904,573 million, net worth Yen 644,220 million, employees
35,779, pres Jun Karube
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Engineering of
car production lines for Toyota Motor group (--100%)
Clients: [Mfrs,
wholesalers] Toyota Motor Corp, Toyota Tsusho Corp, other
No. of accounts: 100
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Keyence Corp, Trinity Industrial Corp, Gifu Seiki Kogyo Co, Yamaha
Motor Co, JTEKT Corp, other
Payment record: Regular
Location: Business area in
Nagoya. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
MUFG (Miyoshi)
MUFG (Nagoya)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual Sales |
|
76,000 |
72,659 |
43,659 |
28,361 |
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Recur. Profit |
|
2,200 |
2,125 |
792 |
-594 |
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Net Profit |
|
1,100 |
1,096 |
407 |
53 |
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Total Assets |
|
|
32,538 |
20,210 |
-552 |
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Current Assets |
|
|
30,939 |
18,347 |
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Current Liabs |
|
|
26,823 |
15,058 |
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Net Worth |
|
|
5,195 |
4,647 |
4,404 |
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Capital, Paid-Up |
|
|
325 |
325 |
325 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.60 |
66.42 |
53.94 |
-43.46 |
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Current Ratio |
|
.. |
115.35 |
121.84 |
.. |
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N.Worth Ratio |
.. |
15.97 |
22.99 |
-797.83 |
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R.Profit/Sales |
|
2.89 |
2.92 |
1.81 |
-2.09 |
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N.Profit/Sales |
1.45 |
1.51 |
0.93 |
0.19 |
|
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Return On Equity |
.. |
21.10 |
8.76 |
1.20 |
|
Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.