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Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TOKAI HIT CO LTD |
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Registered Office : |
306-1 Gendojicho Fujinomiya City Shizuoka-Pref 418-0074 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Year of Establishment : |
October 1994 |
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Com. Reg. No.: |
0801-01-011635 (Shizuoka-Gujinomiya) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of microscope & accessories. |
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No. of Employees : |
32 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
Yen 12.3 Million |
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Status : |
Moderate |
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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 – 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 |
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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 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 |
TOKAI HIT CO LTD
REGD NAME: KK Tokai Hit
MAIN OFFICE: 306-1 Gendojicho Fujinomiya City Shizuoka-Pref
418-0074 JAPAN
Tel: 0544-24-6699 Fax:
0544-24-6641
E-Mail address: sales-jp@tokaihit.com
Mfg of microscope & accessories
Nil
At the caption address
HIDEHARU TSUCHIYA, PRES
Nakae Tokita, dir
Sachiko Tsuchiya, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 670 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND UP WORTH Yen 136 M
STARTED 1994 EMPLOYES 32
MFR OF SCIENTIFIC & OPTICAL DEVICES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Hideharu Tsuchiya in order to
make most of his experience in the subject line of business. This is a specialized mfr of scientific &
optical devices, microscopic accessories, stage top incubator, other (See OPERATION). Clients include major camera makers, other
Financials are only partially disclosed.
The sales volume for Jun/2012 fiscal term amounted to Yen 670 million, a
2% up from Yen 660 million in the previous term. The net profit was posted at Yen 10 million,
similarly in the previous term.
For the current term ending Jun 2013 the net profit is projected at Yen
10 million, on a 4% rise in turnover, to Yen 700 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 12.3 million, on 30 days normal terms.
Date Registered: Oct
1994
Regd No.: 0801-01-011635
(Shizuoka-Gujinomiya)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum: Yen
10 million
Major shareholders
(%): Hideharu Tokita (70)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
scientific & optical devices: microscope & accessories, stage top
incubator INU series, thermo plate HATS series, others (--100%)
Clients: [Mfrs,
wholesalers] Olympus Corp, Nikon Corp, Leica Microsystems, Carl Zeiss Micro
Imaging, Ikemoto Scientific Technology Co, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tokuden Co Ltd, other
Payment record: Regular
Location: Business area in
Fujinomiya, Shizuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Fujinomiya Shinkin Bank (Eki-Minami)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
Annual Sales |
|
700 |
670 |
660 |
650 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
10 |
10 |
10 |
10 |
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Total Assets |
|
|
N/A |
N/A |
N/A |
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Net Worth |
|
|
136 |
126 |
116 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.48 |
1.52 |
1.54 |
0.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.43 |
1.49 |
1.52 |
1.54 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.50 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.