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Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
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Name : |
TAJIMA INDUSTRIES LTD |
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Registered Office : |
Tajima Bldg, 3-19-22 Shirakabe Higashiku Nagoya 461-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
May, 1970 |
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Com. Reg. No.: |
1800-01-017306 |
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Legal Form : |
Limited Company |
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Line of Business : |
Export, wholesale of multi-head electronic embroidery machines &
equipment |
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No. of Employees : |
70 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
High |
B2 |
|
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 |
TAJIMA INDUSTRIES
LTD
Tajima Kogyo KK
Tajima Bldg, 3-19-22 Shirakabe Higashiku Nagoya 461-0011 JAPAN
Tel: 052-932-3811 Fax:
052-932-3899
URL: http://www.tajimac.com
E-Mail address: (thru the URL)
Export, wholesale of multi-head electronic embroidery machines &
equipment
Nagoya (Division Office)
HITOSHI TAJIMA, PRES
Kenji Tajima, v pres
Terutada Kojima, s/mgn dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,899 M
PAYMENTS REGULAR CAPITAL Yen
65 M
TREND SLOW WORTH Yen 10,748 M
STARTED 1970 EMPLOYES 70
TRADING FIRM SPECIALIZING IN ELECTRONIC EMBROIDERY MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Tokai Industrial Sewing Machine Co Ltd (See REGISTRATION). Hitoshi
Tajima is concurrently pres at the parent.
This is a trading firm specializing in export and wholesale of “Tajima”
brand multi-head electronic embroidery machines & related equipment. Exports to China, S/E Asia, other Domestic clients include major sewing machine
makers.
The sales volume for Feb/2012 fiscal term amounted to Yen 7,899 million,
a 19% down from Yen 9,783 million in the previous term. The operations continued in the red to post
Yen 289 million recurring loss and Yen 362 million net losses, respectively,
compared with Yen 234 million recurring loss and Yen 255 million net losses,
respectively, a year ago.
For the current term ending Feb 2013 the operations are projected to
come back to profitability to post Yen 100 million recurring profit and Yen 100
million net profit, respectively, on a 3% rise in turnover, to Yen 8,100
million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1970
Regd No.: 1800-01-017306
(Nagoya-Higashiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 524,000 shares
Issued:
131,000 shares
Sum: Yen
65.5 million
Major shareholders
(%): TIK Corp* (30), Hitoshi
Tajima (15), Employees’ S/Holding Assn (10)
No. of
shareholders: 15
*.. Tokai Industrial Sewing Machine Co Ltd, Aichi-Pref, founded 1944,
mfr of embroidery machines, sewing machines, capital Yen 90 million, sales Yen
7,618 million, net losses Yen 2,190 million, employees 210, pres Hitoshi
Tajima, concurrently.
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Exports and
wholesales “Tajima” brand multi-head electronic embroidery machines &
related equipment (--100%)
Clients: [Mfrs,
wholesalers] Naka-Nihon Juki Co, Yokoyama Tokushu Machine Co, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tokai Industrial Sewing Machine Co, Pulse Microsystems, other
Payment record: Regular
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Chukyo Bank (Daikancho)
MUFG (Higashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
8,100 |
7,899 |
9,783 |
5,598 |
|
Recur. Profit |
|
100 |
-287 |
-234 |
|
|
Net Profit |
|
100 |
-362 |
-255 |
-444 |
|
Total Assets |
|
|
12,150 |
12,893 |
N/A |
|
Current Assets |
|
|
8,323 |
9,178 |
|
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Current Liabs |
|
|
1,973 |
1,769 |
|
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Net Worth |
|
|
10,748 |
11,124 |
11,379 |
|
Capital, Paid-Up |
|
|
65 |
65 |
65 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.54 |
-19.26 |
74.76 |
-41.44 |
|
|
Current Ratio |
|
.. |
421.84 |
518.82 |
.. |
|
N.Worth Ratio |
.. |
88.46 |
86.28 |
.. |
|
|
R.Profit/Sales |
|
1.23 |
-3.63 |
-2.39 |
.. |
|
N.Profit/Sales |
1.23 |
-4.58 |
-2.61 |
-7.93 |
|
|
Return On Equity |
.. |
-3.37 |
-2.29 |
-3.90 |
|
Notes: Forecast (or estimated) figures for
the 29/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
<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.