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Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAHSIN SHOJI CO
LTD |
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Registered Office : |
2-8-2 Imagome Higashi-Osaka Osaka-Pref 578-0973 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
June 1979 |
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Com. Reg. No.: |
1220-01-004761
(Osaka-Higashiosaka) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import,
wholesale of sportswear, sports bags, synthetic leather |
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No. of Employees : |
31 |
RATING & COMMENTS
|
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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Status : |
Satisfactory |
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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 (31.03.2012) |
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 |
TAHSIN SHOJI CO LTD
REGD NAME: Tahsin
Shoji KK
MAIN OFFICE: 2-8-2
Imagome Higashi-Osaka Osaka-Pref 578-0973 JAPAN
Tel:
072-964-1661 Fax: 072-965-5671
URL: http//:www.tahsin.co.jp
E-mail: info@tahsin.co.jp
Import,
wholesale of sports wear, sports bags, synthetic leather
Tokyo
Meguro
(warehouse)
HAKUTAKU
KO, PRES (Taiwanese resident)
Seiji
Hayashi, v pres Seito Kyuu, s/mgn dir
(Taiwanese resident)
Masaru
Ueda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,381 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND UP WORTH Yen 547 M
STARTED 1979 EMPLOYES 31
TRADING
FIRM SPECIALIZING IN SPORTS WEAR, OTHER, WHOLLY
OWNED
BY TAHSIN INDUSTRIAL CORP, TAIWAN
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Tahsin Industrial
Corp, Taiwan, as its marketing arm in Japan.
This is a trading firm specializing in importing and wholesaling
polyester sports wear, sports bags, synthetic leather, house ware and other
goods manufactured by the Taiwanese parent.
Clients include sportswear wholesalers, other
The sales volume for Dec/2011 fiscal term amounted to Yen
2,381 million, an 11% up from Yen 2,146 million in the previous term. High Yen benefited to import at lower costs
in Yen terms. The recurring profit was
posted at Yen 65 million and the net profit at Yen 32 million, respectively,
compared with Yen 37 million recurring profit and Yen 23 million net profit,
respectively, a year ago. .
For
the term that ended Dec 2012 the recurring profit was projected at Yen 67
million and the net profit at Yen 35 million, respectively, on a 3% rise in
turnover, to Yen 2,450 million. The
final results are yet to be released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1979
Regd No.: 1220-01-004761
(Osaka-Higashiosaka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 200,000 shares
Issued: 200,000 shares
Sum: Yen 100 million
Major shareholders (%):
Tahsin Industrial Corp, Taiwan (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales PP sportswear,
sports bags, golf kits, rain wear, home ware, synthetic leather, office
supplies, other, manufactured by the Taiwanese parent, Tahsin Industrial Corp
(--100%)
(Handling Items): outdoor wear, wind breaker, skiwear,
racer jacket, storm jacket, rain wear, office equipment (plastic binding
supplies, manual binding machines, electric binding machines), home ware
(apparel cases, shelves, hanger, shoes rack, basket, PP corrugated board),
laminator (laminating files), other
Clients: [Mfrs, wholesalers] Globeride Inc,
Mitsubishi Plastic, Dunlop Sports, Yamaha Motor, Asics Corp, Shimano Inc, Honda
Access, Meiwa Gravure, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports from
Tahsin Industrial Corp, Chi Mei Corp, and its group firms.
Domestically supplied from
Shi-Etsu Chemical Ind, other.
Payment record:
Regular
Location:
Business area in Higashi-Osaka. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Higashi-Osaka-Chuo)
Mizuho
Bank (Osaka-Higashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms
Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
2,450 |
2,381 |
2,146 |
2,139 |
|
Recur.
Profit |
|
67 |
65 |
37 |
62 |
|
Net
Profit |
|
35 |
32 |
23 |
37 |
|
Total
Assets |
|
|
1,979 |
2,090 |
1,629 |
|
Current
Assets |
|
|
910 |
788 |
653 |
|
Current
Liabs |
|
|
896 |
836 |
741 |
|
Net
Worth |
|
|
547 |
515 |
492 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
2.90 |
10.95 |
0.33 |
-11.02 |
|
|
Current
Ratio |
|
.. |
101.56 |
94.26 |
88.12 |
|
N.Worth
Ratio |
.. |
27.64 |
24.64 |
30.20 |
|
|
R.Profit/Sales |
|
2.73 |
2.73 |
1.72 |
2.90 |
|
N.Profit/Sales |
1.43 |
1.34 |
1.07 |
1.73 |
|
|
Return
On Equity |
.. |
5.85 |
4.47 |
7.52 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
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.