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Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIN KOYO CO
LTD |
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|
|
|
Registered Office : |
9-11-36 Minamimukonoso Amagasaki Hyogo-Pref 661-0033 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
Dec 1955 |
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Com. Reg. No.: |
1400-01-050154
(Hyogo-Amagasaki) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures dyeing machines: automatic flat screen
machines, automatic rotary screen printing machines, automatic rotary screen applicator,
flexible mfg system, film-less inkjet engraving machines, automatic color
dispensing system, twenty thirty digital inkjet printer for textile,
automatic rapid steamer. |
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|
|
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No. of Employees : |
65 |
RATING & COMMENTS
|
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 : |
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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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
TOSHIN KOYO CO LTD
Toshin Kogyo KK
9-11-36
Minamimukonoso Amagasaki Hyogo-Pref 661-0033 JAPAN
Tel:
06-6438-0901 Fax: 06-6437-6423
URL: http://www.toshin-kogyo.co.jp
E-Mail
address: info@toshin-kogyo.co.jp
Mfg of
dyeing machines
Nil
At the
caption address
KOICHI
ICHINOSE, PRES Takako Ichinose,
mgn dir
Shiro
Ichinose, dir Tokio
Takita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,956 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 37 M
TREND UP WORTH Yen 3,030 M
STARTED 1955 EMPLOYES 65
MFR OF DYEING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by father of Kioicho Ichinose in order to make most of his
experience in the subject line of business.
This is a specialized mfr, owned and operated by the Ichinose family, of
dyeing machines (See OPERATION). Machines are exported to 100 clients of
worldwide destinations, mainly thru general trading houses. Domestic clients include major textile makers,
general trading houses, other, nationwide.
The sales
volume for Nov/2012 fiscal term amounted to Yen 4.956 million, a 17% up from
Yen 4,235 million in the previous term.
Exports increased, but high Yen ate into profits. Foreign currency exchange losses were
incurred, the firm says. The operations
continued in the re to post Yen 403 million recurring loss and Yen 403 million
net losses, respectively, compared with Yen 530 million recurring loss and Yen
542 million net losses, respectively, a year ago.
For the
current term ending Nov 2013 the operations are projected to come back to
profitability to post Yen 200 million recurring profit and Yen 200 million ne
profit, respectively, on a 5% rise in turnover, to Yen 5,200 million. Weaker Yen may push sales revenues and
profits upwards.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Dec 1955
Regd No.: 1400-01-050154
(Hyogo-Amagasaki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 300,000 shares
Issued:
75,000 shares
Sum: Yen
37.5 million
Major shareholders (%): SMBC (10), Koichi Ichinose, Takako
Ichinose, Shiro Ichinose, other
No. of shareholders: 16
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures dyeing machines:
automatic flat screen machines, automatic rotary screen printing machines, automatic
rotary screen applicator, flexible mfg system, film-less inkjet engraving
machines, automatic color dispensing system, twenty thirty digital inkjet
printer for textile, automatic rapid steamer, other (--100%)
Clients: [Mfrs, wholesalers] Itochu Corp,
Sojitz Corp, Marubeni Corp, Toyota Tsusho Corp, Itochu Systec, Chori Corp,
Kanematsu Corp, Tokai Senko KK, Nihon Keisen, Komatsu Seiren Co, Toyobo Co,
Wakayama Senko Co, Urase Corp, other
Exports to 100 firms in Asia,
Europe, USA, Russia, other worldwide destinations.
No. of
accounts: 500 (Domestic clients)
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seiren Electronics
Co, Kinryo Electric Co, Habajit Japan, Tsuchiya Seisakusho, Matsuoka Seiki Ind,
Fuji Electric Co, Tokyo Keiki Inc, other
Payment record: No
Complaints
Location:
Business area in Amagasaki, Hyogo-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
SMBC
(Koshienguchi)
Mizuho
Bank (Amagasaki)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
230/11/2010 |
|
|
Annual
Sales |
|
5,200 |
4,956 |
4,235 |
5,719 |
|
Recur.
Profit |
|
200 |
-403 |
-530 |
29 |
|
Net
Profit |
|
200 |
-403 |
-542 |
-492 |
|
Total
Assets |
|
|
5,810 |
6,360 |
6,984 |
|
Current
Assets |
|
|
4,736 |
5,283 |
5,943 |
|
Current
Liabs |
|
|
1,571 |
1,676 |
1,861 |
|
Net
Worth |
|
|
3,030 |
3,436 |
3,981 |
|
Capital,
Paid-Up |
|
|
37 |
37 |
37 |
|
Div.Ttl
Million (¥) |
|
|
2.7 |
2.7 |
2.7 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.92 |
17.02 |
-25.95 |
38.04 |
|
|
Current Ratio |
|
.. |
301.46 |
315.21 |
319.34 |
|
N.Worth Ratio |
.. |
52.15 |
54.03 |
57.00 |
|
|
R.Profit/Sales |
|
3.85 |
-8.13 |
-12.51 |
0.51 |
|
N.Profit/Sales |
3.85 |
-8.13 |
-12.80 |
-8.60 |
|
|
Return On Equity |
.. |
-13.30 |
-15.77 |
-12.36 |
|
Notes:
Forecast (or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.60.33 |
|
UK Pound |
1 |
Rs.90.78 |
|
Euro |
1 |
Rs.77.80 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.