|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TSUJIKAWA CO LTD |
|
|
|
|
Registered Office : |
1-15-8 Hannancho Abenoku Osaka 545-0021 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2012 |
|
|
|
|
Year of Establishment : |
1961 |
|
|
|
|
Com. Reg. No.: |
1200-01-05859 (Osaka-Abenoku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Metal engraving, chemical etching, machine engraving, hand
engraving. |
|
|
|
|
No. of Employees : |
143 |
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 |
|
Maximum Credit Limit : |
YEN 44.1 MILLION |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
TSUJIKAWA CO LTD
Tsujikawa KK
1-15-8 Hannancho
Abenoku Osaka 545-0021 JAPAN
Tel:
05-6621-3981 Fax: 06-6622-3901
URL: http://www.tsujikawa.co.jp
E-Mail
address: tsujikawa@tsujikawa.co.jp
Metal
engraving
Tokyo
China,
Thailand
At the
caption address, Yao, Sakai; China, Thailand
YUTAKA
TSUJIKAWA, PRES Hiroshi Tsujikawa, ch
Koichi
Tsujikawa, s/mgn dir Tamaki
Hashiguchi, mgn dir
Yoko
Tsujikawa, dir Naoko
Tsujikawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,400 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 1,511 M
STARTED 1961 EMPLOYES 143
METAL ENGRAVING, CHEMICAL ETCHING, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 44.1 MILLION, 30 DAYS NORMAL TERMS
The subject
company was established originally in 1921 by Riichi Tsujikawa, on his account,
and was incorporated in 1961. This is a
special mfr of metal engraving, chemical etching, machine engraving, hand
engraving, other (See OPERTION). Has two overseas factories: China &
Thailand. Clients include government
& municipal offices, post offices, mint bureau, other.
Financials are only partially disclosed.
The sales volume for Aug/2012 fiscal term amounted to Yen
2,400 million, a 1% up from Yen 2,372 million in the previous term. The net profit was posted at Yen 20 million,
compared with Yen 25 million a year ago.
For the current term ending Aug 2013 the net profit is
projected at Yen 30 million, on a 5% rise in turnover, to Yen 2,520 million. Weaker Yen may contribute to raise earnings
in Yen terms.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 44.1 million, on 30 days normal terms.
Date Registered: 1961
Regd No.: 1200-01-05859
(Osaka-Abenoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Yutaka Tsujikawa (23), Hiroshi Tsujikawa
(16), Yumi Hasegawa (15), Koichi Tsujikawa (13)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Metal engraving, chemical etching,
machine engraving, hand engraving, other (--100%)
(Product list):
Special Printing Products: hot foil stamping plates,
embossing plates (copper brass magnesium iron silicon rubber plastic), hot foil
stamping cylinder label printing, pad printing steel plates, engraved seals for
ampoule printing, pad printing cylinder, jig tools;
Cutting Die Products: cutting die cylinder, embossing
cylinder, cutting dies for packaging, cutting dies, chemically etched cutting
die;
Engraved Seals: engraved seal for automatic packaging
machinery use, steel letters for typing machine, postage seal, stamp duty seal,
numbers seals for numbering machine, engraved seal for pressing machine, hand
engraved seal;
Other Main Products: molds for high frequency
welder, ultrasonic processor plates, plastic molds, press welding plates, other
Clients: [Mfrs, wholesalers] Mint Bureau,
Navitas Co, Unicharm Co, Kao Corp, Dainippon Printing, Japan Post Holdings Co,
Asahi Printing, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Ryoko Special
Metal Ind, Dainippon Screen Mfg, O-Nichiyaku Inc, other
Payment record: No
complaints
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Abenobashi)
MUFG
(Abenobashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
Annual
Sales |
|
2,520 |
2,400 |
2,372 |
2,299 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
30 |
20 |
25 |
44 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,511 |
1,491 |
1,466 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
1.18 |
3.18 |
-2.83 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.19 |
0.83 |
1.05 |
1.91 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.73.68 |
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.