|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOKIMA CORPORATION |
|
|
|
|
Registered Office : |
1-11-7 Higashiueno Taitoku Tokyo 110-0015 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.08.2012 |
|
|
|
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Date of Incorporation : |
January
1994 |
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|
|
|
Com. Reg. No.: |
0105-01-018739
(Tokyo-Taitoku) |
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|
|
|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Import, export, wholesale of fashion watches |
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|
|
|
No. of Employees : |
27 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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 |
TOKIMA CORPORATION
KK Tokima
1-11-7 Higashiueno
Taitoku Tokyo 110-0015 JAPAN
Tel:
03-5807-31313 Fax: 03-5807-3132
URL: http://www.tokima-net.com
E-Mail address: (thru the URL)
Import,
export, wholesale of fashion watches
Nil
(subcontracted
in Hong Kong)
SHUICHI
HAIDA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,163 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
96 M
STARTED 1994 EMPLOYES 27
TRADING FIRM SPECIALIZING IN WATCHES.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Shuichi Haida in order to make
most of his experience in the subject line of business. This is a trading firm, with mfg division,
for import, export and wholesale of fashionable watches, not of plastic
make. Production is subcontracted in
Hong Kong, on supply of mechanical movements from Japan. By this arrangement, the products are made at
lower prices than Japan-made watches. It
also offers OEM products for small to large lots. Clients include chain stores, wholesalers,
other
The sales volume for Aug/2012 fiscal term amounted to Yen 1,163 million,
a 19% down from Yen 1,440 million in the previous term. High Yen hurt both imports & exports,
reducing earnings and profits in Yen terms.
The recurring profit was posted at Yen 20 million and the net profit at
Yen 8 million, respectively, compared with Yen 30 million recurring profit and Yen
8 million net profit, respectively, a year ago.
For the current term ending Aug 2013 the recurring profit is projected
at Yen 20 million and the net profit at Yen 10 million, respectively, on a 3%
rise in turnover, to Yen 1,200 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1994
Regd No.: 0105-01-018739 (Tokyo-Taitoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Shuichi Haida (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports
and wholesales fashion watches, other (--100%)
Watches are made in Hong Kong & China, on supply of mechanical
movements from Japan.
Watches are in four lines: natural line (cream branded), casual line
(ambition, Tea Spoon branded), grow line (fragola branded), all for teenagers
to late twenties ages; elegance line (Or Pomme Heal branded) for adults
Clients: [Mfrs,
wholesalers] Cosmic Inc, CJ Prime Shopping, LD International, Marubeni Fashion
Link, Etoile-Kaito, Mukai Co, other
No. of accounts: 300
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from subcontracted makers in Hong Kong, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
SMBC (Asakusa)
Mizuho Bank (Yokoyamacho)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/08/2013 |
31/08/2012 |
31/08/2011 |
31/08/2010 |
|
|
Annual
Sales |
|
1,200 |
1,163 |
1,440 |
1,204 |
|
Recur.
Profit |
|
20 |
20 |
30 |
|
|
Net
Profit |
|
10 |
8 |
8 |
5 |
|
Total
Assets |
|
|
900 |
1,067 |
1,026 |
|
Current
Assets |
|
|
540 |
631 |
|
|
Current
Liabs |
|
|
268 |
320 |
|
|
Net
Worth |
|
|
96 |
88 |
79 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.18 |
-19.24 |
19.60 |
23.61 |
|
|
Current Ratio |
|
.. |
201.49 |
197.19 |
.. |
|
N.Worth Ratio |
.. |
10.67 |
8.25 |
7.70 |
|
|
R.Profit/Sales |
|
1.67 |
1.72 |
2.08 |
.. |
|
N.Profit/Sales |
0.83 |
0.69 |
0.56 |
0.42 |
|
|
Return On Equity |
.. |
8.33 |
9.09 |
6.33 |
|
Notes:
Forecast (or estimated) figures for the 31/08/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
UK Pound |
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
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 |
|
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.