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Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
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Name : |
TERAOKA SEIKO CO LTD |
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Registered Office : |
5-13-12 Kugahara Ohtaku |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
July, 1947 |
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Com. Reg. No.: |
0108-01-007647 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of electronic gauge meters, automatic packaging machines |
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No. of Employees : |
1,026 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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 |
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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 |
TERAOKA SEIKO CO
LTD
KK Teraoka Seiko
5-13-12 Kugahara Ohtaku Tokyo 146-8580 JAPAN
Tel: 03-3752-9427
URL: http//:www.teraokaseiko.com
E-mail: info@teraokaseiko.com
Mfg of electronic gauge meters, automatic packaging machines
Nationwide from Hokkaido to Kyushu (Tot 45)
Iwate, Singapore, Shanghai
KAZUHARU TERAOKA, PRES Hirosuke
Yamamoto, mgn dir
Kunio Mori, mgn dir Takashi
Katayama, dir
Yoshinobu Miyake, dir Yoshinobu
Nishimura, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 42,432 M
PAYMENTS REGULAR CAPITAL Yen
100 M
TREND UP WORTH Yen 15,568 M
STARTED 1947 EMPLOYES 1,026
MFR OF ELECTRONIC GAUGE METERS, PACKAGING MACHINES, ETC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Toyoharu Teraoka in order to make
most of his experience in the subject line of business. Kazuharu is his grandson. This is a specialized mfr of electronic gauge
meters, automatic packaging machines, POS systems, other. Has mfg base in Singapore and China. Noted for non-use of polystyrene foam
trays. Exports to over 100 overseas
markets.
The sales volume for Dec/2012 fiscal term amounted to Yen 42,432
million, a 6% up from Yen 40,073 million in the previous term. Production in China and Singapore
increased. Exports were robust. The recurring profit was posted at Yen 2,451
million and the net profit at Yen 2,012 million, respectively, compared with
Yen 2,189 million recurring profit and Yen 1,161 million net profit, respectively,
a year ago. .
For the current term ending Dec 2013 the recurring profit is projected
at Yen 2,500 million and the net profit at Yen 2,100 million, respectively, on
a 3% rise in turnover, to Yen 43,700 million.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jul
1947
Regd No.: 0108-01-007647
(Tokyo-Ohtaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 3.9
million shares
Issued: 979,000 shares
Sum: Yen
480 million
Major shareholders
(%):
Teraoka Holding Co (12.9),
Kazuharu Teraoka (3.8)
No. of
shareholders: 48
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
electronic gauge meters, automatic packaging machines, POS systems, others
(100%).
Supplying to: mfg industries (5%), distribution industries (80%), others
(15%)
Exports (8%).
Clients: [Mfrs,
wholesalers, agent dealers] Teraoka Co, Teraoka System, Kyushu Teraoka, Chubu
Teraoka, Ito-Yokado Co, Aeon group firms, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfr,
wholesalers] Digi I’s Corp, Anritsu Industrial Solutions, Yashima Denki Co,
Ricoh Co, Shindengen Electric Mfg Co, Shinko Shoji Co, Daisho Denshi Co, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Oomori)
MUFG (Kamata)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
43,700 |
42,432 |
40,073 |
41,483 |
|
Recur. Profit |
|
2,500 |
2,451 |
2,189 |
1,907 |
|
Net Profit |
|
2,100 |
2,012 |
1,161 |
1,133 |
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Total Assets |
|
|
33,436 |
28,785 |
30,079 |
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Current Assets |
|
|
22,963 |
19,200 |
30,403 |
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Current Liabs |
|
|
14,371 |
11,269 |
13,595 |
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Net Worth |
|
|
15,568 |
13,851 |
12,912 |
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Capital, Paid-Up |
|
|
100 |
100 |
100 |
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Div.P.Share(¥) |
|
|
25.00 |
25.00 |
25.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.99 |
5.89 |
-3.40 |
5.33 |
|
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Current Ratio |
|
.. |
159.79 |
170.38 |
223.63 |
|
N.Worth Ratio |
.. |
46.56 |
48.12 |
42.93 |
|
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R.Profit/Sales |
|
5.72 |
5.78 |
5.46 |
4.60 |
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N.Profit/Sales |
4.81 |
4.74 |
2.90 |
2.73 |
|
|
Return On Equity |
.. |
12.92 |
8.38 |
8.77 |
|
Notes: Forecast (or estimated) figures for the 31/12/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
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NB |
New Business |
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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.