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Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TAKAHASHI SANGYO CO INC |
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Registered Office : |
1-72 20-chomekita Hondori Shiroishiku Sapporo 003-0027 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
March 1964 |
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Com. Reg. No.: |
4300-01-010059 (Sapporo-Shiroishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of building materials, 2x4 panels, house exterior/interior works |
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No. of Employees : |
44 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
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
TAKAHASHI SANGYO CO INC
REGD NAME: Takahashi
Sangyo KK
MAIN OFFICE: 1-72
20-chomekita Hondori Shiroishiku Sapporo 003-0027 JAPAN
Tel:
011-861-1222 Fax: 011-861-1848
URL: http://www.takahashi-industry.net
E-Mail address: (thru the URL)
Mfg of building
materials, 2x4 panels, house exterior/interior works
Kita-Hiroshima
Kita-Hiroshima
(subsidiary)
TSUNEYO TAKAHASHI,
PRES
Shinsaku
Takahashi, ch Koji Toda, s/mgn
dir
Shin’ichiro Ochi,
dir Soichiro Takahashi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,573 M
PAYMENTS REGULAR CAPITAL Yen
38 M
TREND UP WORTH Yen 451 M
STARTED 1964 EMPLOYES 44
MFR OF BUILDING MATERIALS, 2X4 PANELS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established by Shinsaku Takahashi in order to make most of his experience in
the subject line of business. Tsuneyo is
his son. This is a specialized mfr of
building materials (wood, timber), 2x4 panels, other. Also executes housing exterior/interior
works. Clients include housing makers,
wholesalers, other
The sales volume for
Mar/2012 fiscal term amounted to Yen 3,573 million, a 10% up from Yen 3,245
million in the previous term. Housing
starts revived. Temporary houses were built
particularly after the Great North Japan Earthquake. The recurring profit was posted at Yen 81
million and the net profit at Yen 38 million, respectively, compared with Yen
142 million recurring profit and Yen 15 million net profit, respectively, a year
ago.
For the term that ended
Mar 2013 the recurring profit was projected at Yen 85 million and the net
profit at Yen 40 million, respectively, on a 5% rise in turnover, to Yen 3,750
million. Final results are yet to be released.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar
1964
Regd No.:
4300-01-010059 (Sapporo-Shiroishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 304,000 shares
Issued: 76,000 shares
Sum: Yen 38 million
Major
shareholders (%): Tsuneyo Takahashi (70), Tanbaya (20), Kuwazawa (9)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
building materials & housing equipment for residence (62%), 2x4 panels
(8.9%), parts for temporary construction facilities (3.3%), house exterior wall
work & installation work, interior finishing work, others (--25.8%)
Clients: [Mfrs, wholesalers]
Sekisui House Hokkaido, Hoei Construction, Nakagami Kensetsu, Sumaino-Kuwazawa
Co, Juken House Co, Fujiki Kensetsu, Nix Inc, Japan Electric Service Co, other
No. of accounts:
300
Domestic areas of
activities: Centered in Hokkaido
Suppliers: [Mfrs,
wholesalers] Japan Building Materials, Tanbaya, Sato Mokuzai, Yuasa Trading Co,
Marubeni Building Material Corp, other
Payment record: Regular
Location: Business area in
Sapporo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Hokkaido Bank
(Shiraishi)
MUFG
(Sapporo-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
3,750 |
3,573 |
3,245 |
2,814 |
|
Recur.
Profit |
|
85 |
81 |
142 |
|
|
Net
Profit |
|
40 |
38 |
15 |
174 |
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Total
Assets |
|
|
1,873 |
1,860 |
1,609 |
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Current
Assets |
|
|
1,237 |
1,194 |
|
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Current
Liabs |
|
|
1,128 |
1,189 |
|
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Net
Worth |
|
|
451 |
413 |
399 |
|
Capital,
Paid-Up |
|
|
38 |
38 |
38 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.95 |
10.11 |
15.32 |
-6.88 |
|
|
Current Ratio |
|
.. |
109.66 |
100.42 |
.. |
|
N.Worth Ratio |
.. |
24.08 |
22.20 |
24.80 |
|
|
R.Profit/Sales |
|
2.27 |
2.27 |
4.38 |
.. |
|
N.Profit/Sales |
1.07 |
1.06 |
0.46 |
6.18 |
|
|
Return On Equity |
.. |
8.43 |
3.63 |
43.61 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<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.