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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
TEIJIN FRONTIER CO LTD |
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Registered Office : |
Teijin Bldg, 1-6-7 Minami-Honmachi Chuoku
Osaka 541-8540 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 2001 |
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Com. Reg. No.: |
1200-01-067360 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
textiles, apparel materials, chemicals |
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No. of Employees : |
1846 |
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 : |
Usually Correct |
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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) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 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.
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Source : CIA |
TEIJIN FRONTIER CO LTD
Teijin Frontier KK
Teijin Bldg, 1-6-7
Minami-Honmachi Chuoku Osaka 541-8540 JAPAN
Tel:
06-6266-8011 Fax: 06-6244-1217
URL: http://www.teijin-frontier.com
E-Mail address: (thru the URL)
Import,
export, wholesale of textiles, apparel materials, chemicals, other
Tokyo,
Nagoya, Niigata, Fukui
Shanghai,
Taipei, Manila, Ho Chi Minh, Hanoi, Bangladesh
TETSUSHI
TAKENAKA, PRES Norimitsu Takahashi, v
pres
Noboru
Yamamoto, mgn dir Hiroshi Suyama,
dir
Shinji
Nikko, dir Mitsuo
Fujimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 188,049 M
PAYMENTSUsually Correct CAPITAL Yen 2,000 M
TREND UP WORTH Yen 16,929 M
STARTED 2001 EMPLOYES 1,846
TRADING FIRM SPECIALIZING IN TEXTILES & CLOTHING
MATERIALS, OWNED BY TEIJIN LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 4,593.6 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally as NI Teijin Shoji Co Ltd
by the merger of Teijin Shoji Co Ltd and Nissho Iwai Apparel Co Ltd. In Oct 2012, NI Teijin Shoji Co merged apparel
unit of Teijin Fibers Ltd to rename as captioned. This is a trading firm specializing in
import, export and wholesale of textile/clothing materials, industrial
materials, automotive products, others.
Clients include apparel makers, textile mfrs, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 188,049
million, a 2% up from Yen 184,074 million in the previous term. The recurring profit was posted at Yen 5,611
million and the net profit at Yen 2,364 million, respectively, compared with
Yen 4,285 million recurring profit and Yen 1,840 million net profit,
respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 7,500 million and the net profit at Yen 3,300 million, respectively, on
a 38% rise in turnover, to Yen 7,500 million.
The said merger will contribute to the sales growth. .
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 4,593.6 million, on 30 days normal terms.
Date Registered: Apr
2001
Regd No.: 1200-01-067360 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80 million shares
Issued:
20 million shares
Sum: Yen 2,000 million
Major shareholders (%): Teijin Ltd* (100)
*.. Major synthetic fiber mfr, Osaka, founded 1918, listed Tokyo S/E, capital Yen 70,816 million, sales Yen 854,370 million, operating profit Yen 34,044 million, recurring profit Yen 34,283 million, net profit Yen 11,979 million, total assets Yen 731,781 million, net worth Yen 278,873 million, employees 16,797, pres Shigeo Ohyagi
Nothing detrimental is known as to the commercial morality of executives.
Activities: Activities: Imports, exports and wholesales textiles and other commodities (sales breakdown by groups): Textile & Apparel Division Group (58%): textile raw materials, a wide range of clothing products, such as formal wear, casual clothing, bed clothes, sports wear, etc; Industrial Textiles & Materials Div Group (36%): synthetic fiber products for automotive industries, such as tire cord fibers, reinforced fibers for hose & belting, air bag fibers; curtains, beddings; Plastics & Industrial Products Group (6%): , synthetic resins, industrial machinery & equipment, industrial chemicals, other
Overseas Sales Ratio (16%)
Clients: [Mfrs, wholesalers] Mizujin Co, Descente Ltd, Sangetsu Co, Nike Japan, AOKI, Caitac International Inc, Yamato International, Adventure Corp, Baycrew’s Co, Aitoz Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Teijin Ltd, Toray Ind, Century Techno Core Co, Asahi Kasei Fibers Corp, Sakura Polymer Co, Takisada Nagoya, Unitika Ltd, other
Payment record: Usually Correct
Location: Business area in Osaka. Office premises at the caption address are owned by the parent, Teijin Ltd, and maintained satisfactorily.
Bank References:
MUFG (Osaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
260,000 |
188,049 |
184,704 |
176,759 |
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Recur.
Profit |
|
7,500 |
5,611 |
4,285 |
4,247 |
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Net
Profit |
|
3,300 |
2,364 |
1,840 |
1,550 |
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Total
Assets |
|
|
73,414 |
67,537 |
68,888 |
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Current
Assets |
|
|
62,499 |
58,261 |
59,474 |
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Current
Liabs |
|
|
54,716 |
51,328 |
49,909 |
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Net
Worth |
|
|
16,929 |
14,224 |
16,918 |
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Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
38.26 |
1.81 |
4.49 |
10.47 |
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Current Ratio |
|
.. |
114.22 |
113.51 |
119.16 |
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N.Worth Ratio |
.. |
23.06 |
21.06 |
24.56 |
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R.Profit/Sales |
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2.88 |
2.98 |
2.32 |
2.40 |
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N.Profit/Sales |
1.27 |
1.26 |
1.00 |
0.88 |
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Return On Equity |
.. |
13.96 |
12.94 |
9.16 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
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UK Pound |
1 |
Rs.82.32 |
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Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.