|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATSUNO CORPORATION |
|
|
|
|
Registered Office : |
2-12-13 Shibaura Minatoku Tokyo 108-8520 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
March 1928 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer equipment for petrol industry |
|
|
|
|
No. of Employees : |
1223 |
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 : |
Usually Correct |
|
|
|
|
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 |
TATSUNO CORPORATION
KK Tatsuno
2-12-13 Shibaura
Minatoku Tokyo 108-8520 JAPAN
Tel:
03-3452-6211 Fax: 03-3452-6125
E-Mail address: (thru the URL)
Mfg
equipment for petrol industry
80
branch/offices nationwide
Korea, China, Thailand, India, Czech, Russia (--affiliates)
Yokohama
HIROMICHI
TATSUNO, PRES Toshiaki Motohashi,
s/mgn dir
Akifumi
Kanamori, mgn dir Fujio Yokoo, mgn
dir
Takashi
Tsuchiya, dir Harutaka
Nakayama, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 25,983 M
PAYMENTSUsually Correct CAPITAL Yen 480 M
TREND UP WORTH Yen 14,932 M
STARTED 1928 EMPLOYES 1,223
MFR OF EQUIPMENT FOR GAS STATIONS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Hiromichi Tatsuno in order to make most of his experience in the subject line of business. This is a specialized mfr of equipment for the petrol industry: gas station-related equipment, such as self service pumps, built-in pumps, level gauges, OA equipment for gas stations, other. Clients include oil refineries, gas stations, other, nationwide
The sales volume for Mar/2012 fiscal term amounted to Yen 25,983 million, a 24% up from Yen 20,933 million in the previous term. Exports were robust into China, Middle East, S/E Asian countries. The operations came back to profitability to post Yen 1,141 million recurring profit and Yen 617 million net profit, respectively, compared with Yen 308 million recurring loss and Yen 2,908 million net losses, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 1,200 million and the net profit at Yen 650 million, respectively, on a 6% rise in turnover, to Yen 27,500 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1928
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3.8 million shares
Issued:
960,000 shares
Sum: Yen 480 million
Major shareholders (%): Shirogane Estate (16.7), Hiryu
(14.4), Employees’ S/Holding Assn (6.6), Hiromichi Tatsuno (5.7), MK (5.1)
No. of shareholders: 61
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and constructs gas stations (55%), gas station-related equipment (43%), OA equipment (2%).
Exports (19%)
(Mfg items): petrol dispensing pumps, self service pumps, built-in pumps, LPG dispensers, tank level gauges, torque converter oil changer, home lorry, lobe flow meter, safety loading arm, automatic charge machines, POS systems, car washers, other
Clients: [Mfrs, wholesalers] JX Nippon Oil & Metal Mining Corp, Showa Shell Sekiyu, ExxonMobil, Idemitsu Kosan, Cosmo Oil, Kignus Oil, Taiyo Sekiyu, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Toshiba Corp, NEC Corp, Bay-Tech Co, Yokohama Rubber, Ricoh Corp, TED Co, other
Payment record: Usually
Correct
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Shimbashi)
Mizuho
Bank (Shiba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
27,500 |
25,983 |
20,933 |
27,053 |
|
Recur.
Profit |
|
1,200 |
1,141 |
-308 |
302 |
|
Net
Profit |
|
650 |
617 |
-2,908 |
209 |
|
Total
Assets |
|
|
31,606 |
29,326 |
33,137 |
|
Current
Assets |
|
|
16,236 |
14,356 |
|
|
Current
Liabs |
|
|
8,408 |
6,516 |
|
|
Net
Worth |
|
|
14,932 |
14,319 |
17,256 |
|
Capital,
Paid-Up |
|
|
480 |
480 |
480 |
|
Div.P.Share(¥) |
|
|
2.50 |
0.00 |
2.50 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.84 |
24.12 |
-22.62 |
-16.67 |
|
|
Current Ratio |
|
.. |
193.10 |
220.32 |
.. |
|
N.Worth Ratio |
.. |
47.24 |
48.83 |
52.07 |
|
|
R.Profit/Sales |
|
4.36 |
4.39 |
-1.47 |
1.12 |
|
N.Profit/Sales |
2.36 |
2.37 |
-13.89 |
0.77 |
|
|
Return On Equity |
.. |
4.13 |
-20.31 |
1.21 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.37 |
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.