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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TID LIMITED |
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Registered Office : |
TID Bldg, 12-19
Nihombashi-Ohdenmacho Chuoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April
1956 |
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Com. Reg. No.: |
0100-01-050832 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of information &
telecommunication systems |
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No. of Employees : |
226 |
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 – 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 |
|
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 |
TID LIMITED
KK T I D
TID Bldg, 12-19
Nihombashi-Ohdenmacho Chuoku Tokyo 103-0011 JAPAN
Tel:
03-5623-5200 Fax: 03-5623-5201
E-Mail address: info@tid.co.jp
Import,
export, wholesale of information & telecommunication systems
Osaka,
Nagoya, Fukuoka, Narita Airport, Kansai International Airport
(subcontracted)
TAKESHI
TAKEUCHI, PRES Haruo Hayashi, ch
Ken
Sugiura, dir Tamotsu
Nagahara, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,855 M
PAYMENTSNo
Complaints CAPITAL Yen
120 M
TREND SLOW WORTH Yen 1,808 M
STARTED 1956 EMPLOYES 226
TRADING FIRM SPECIALIZING IN INFORMATION/TELECOMMUNICATION
SYSTEMS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally by D L Filler of
Aeronautical Radio Inc, as Ground Communication Service Center. By taking over all businesses from D L
Pillar, Toyo Insatsu Denshinki Co Ltd was established. In Apr 1988, the corporate name was changed
to TID Ltd. This is a trading firm
specializing in import, export and wholesale of information &
telecommunication systems. Handles
computer & network system devices, too.
Has two centers at airports: Narita Airport and Kansai International
Airport. Clients include major
electronics mfrs, telecommunications, financial institutions, airlines, other,
nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 2,855 million,
a 7% down from Yen 3,083 million in the previous term. Due to the business slack the sales
declined. Demand decreased. High Yen hurt export/import revenues in Yen
terms. The recurring profit was posted
at Yen113 million, but resulted in Yen 120 million losses for the term,
compared with Yen 29 million recurring profit and Yen 2 million net profit,
respectively, a year ago.
For the term that ended Mar 2013 the recurring profit was projected at
Yen 120 million and the net profit at Yen 90 million, respectively, on a 3%
rise in turnover, to Yen 2,940 million.
Final results are yet to be released.
. .
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1956
Regd No.: 0100-01-050832 (Tokyo-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
240,000 shares
Sum: Yen 120 million
Major shareholders (%): Haruo Hayashi (21), Akiko
Hayashi (8), Natsuyo Imaizumi (8), Takeshi Takeuchi (3), Katsuhiko Irisawa (3)
No. of shareholders: 103
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales information & telecommunications systems, computer &
network system devices, other (--100%).
Clients: [Electronics
mfrs, wholesalers] Itochu Techno Solutions, Chubu Telecommunications, Oracle
Information Systems Japan, Sun Microsystems, NTT East Corp, NTT West Corp,
Mitsubishi Corp, Sumitomo Corp, Cathay Pacific Airways, Showa Shell Sekiyu,
Toyo Electron Ltd, Fujitsu Technology Solutions, IBM Japan, Ricoh Co, Fujitsu
Technology Solutions, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Daiwabo Information Systems, Hewlett Packard Japan, Soft Bank BB,
MT Field Service, Dell, Otsuka Shokai, Raritan Japan Inc, Stratus Technologies
Japan Inc, Kokuyo Engineering, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG
(Ginza)
Resona
Bank (Toranomon)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
2,940 |
2,855 |
3,083 |
3,006 |
|
Recur.
Profit |
|
120 |
113 |
29 |
21 |
|
Net
Profit |
|
90 |
-120 |
2 |
-16 |
|
Total
Assets |
|
|
3,566 |
3,550 |
3,746 |
|
Current
Assets |
|
|
1,665 |
1,601 |
1,721 |
|
Current
Liabs |
|
|
974 |
945 |
941 |
|
Net Worth |
|
|
1,808 |
1,945 |
1,983 |
|
Capital,
Paid-Up |
|
|
120 |
120 |
120 |
|
Div.Ttl
Million (¥) |
|
|
23 |
18 |
24 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.98 |
-7.40 |
2.56 |
-20.37 |
|
|
Current Ratio |
|
.. |
170.94 |
169.42 |
182.89 |
|
N.Worth Ratio |
.. |
50.70 |
54.79 |
52.94 |
|
|
R.Profit/Sales |
|
4.08 |
3.96 |
0.94 |
0.70 |
|
N.Profit/Sales |
3.06 |
-4.20 |
0.06 |
-0.53 |
|
|
Return On Equity |
.. |
-6.64 |
0.10 |
-0.81 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
UK Pound |
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.