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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
TAIYO KIKAI LTD |
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Registered Office : |
1-17-22 Omori-Nishi Ohtaku Tokyo 143-0015 |
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Country : |
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Financials (as on) : |
30.09.2012 |
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Date of Incorporation : |
January, 1961 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of printing presses |
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No. of Employees : |
152 |
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 : |
No Complaints |
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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 |
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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.
|
Source : CIA |
TAIYO
KIKAI LTD
KK Taiyo Kikai Seisakusho
1-17-22 Omori-Nishi Ohtaku
Tokyo 143-0015 JAPAN
Tel: 03-3764-6127 Fax: 03-3766-5036
URL: http://www.taiyo-kikai.co.jp
E-Mail address: taiyo@taiyo-kikai.co.jp
Mfg of printing presses
Osaka
USA, Turkey, Saudi Arabia, Iran, India,
Thailand, Singapore, China, Taiwan, Korea (--about 80) (--affiliates &
agent dealers) Jeddah (--affiliates)
At the caption address, Yamagata
NOBORU OKAKURA, PRES Hiroshi Masunaga, s/mgn dir
Masahiro Koyama, s/mgn
dir Hisao Ayame, dir
Masahito Ochi, dir Haruyuki Numazawa, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,493 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 69 M
TREND STEADY WORTH Yen 1,273 M
STARTED 1961 EMPLOYES 152
MFR OF PRINTING PRESSES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Ryohei Aiko and Sadamo Yoda in order to make most of their experience in
the subject line of business, and was succeeded by the present executives. Noboru Okakura took
the president office in Nov 2011. This
is a specialized mfr of printing presses, business forms press, business forms
collator, label printing press, others. Has affiliate and agent dealers of
about 80 in: USA, Turkey, Saudi Arabia, India, China, Thailand, Singapore,
Korea, other. Goods are both imported
and exported. Clients include major
printing firms.
The sales volume for Sept/2012 fiscal term
amounted to Yen 2,493 million, a 14% down from Yen 2,904 million in the
previous term. Exports were hurt by the
strong Yen, reducing revenues and profits in Yen terms. The net profit was posted at Yen 8 million
and the net profit at Yen 6 million, respectively, compared with Yen 55 million
recurring profit and Yen 41 million net profit, respectively, a year ago.
For the current term ending Sept 2013 the
recurring profit is projected at Yen 50 million and the net profit at Yen 35
million, respectively, on a 10% rise in turnover, to Yen 2,750 million. Weaker Yen will contribute to raise export
revenues in Yen terms. Business is seen
steadily expanding.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date Registered: Jan 1961
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000
shares
Issued: 138,000
shares
Sum: Yen
69 million
Major shareholders (%): Takeo
Igarashi (14), Hiroshi Awai (10), Employees’ S/Holding Assn (10), Hiroshi Masunaga (4), Noboru Okakura (4)
No. of shareholders: 55
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures,
imports and exports printing presses: business forms press, business forms
collator, label printing press, prepaid card printing press, others (--100%).
Clients: [Printing firms,
business firms] Toppan TDK Label, Nakagawa Mfg Co, Satoh Printing, Media
Technology Japan, Kodak, Sagawa Printing Co, Sealex
Co, Iseto Corp,
other.
No.
of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs,
wholesalers] Yamakawa Chuko,
Nihon Netsukan Kogyo, Eye Graphics Co, Fuji EIectric Co, Meiwa Rubber, Eye Graphics Co, Nireco Corp, other.
Payment
record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Kamata)
SMBC (Omori)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
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Annual
Sales |
|
2,750
|
2,493
|
2,904
|
2,759
|
|
Recur.
Profit |
|
50 |
8 |
55 |
|
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Net
Profit |
|
35 |
6 |
41 |
9 |
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Total
Assets |
|
|
3,974
|
4,230
|
4,208
|
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Current
Assets |
|
|
2,228
|
2,369
|
|
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Current
Liabs |
|
|
1,735
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1,764
|
|
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Net
Worth |
|
|
1,273
|
1,276
|
1,231
|
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Capital,
Paid-Up |
|
|
69 |
69 |
69 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
10.31
|
-14.15
|
5.26 |
-15.58
|
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Current Ratio |
|
.. |
128.41
|
134.30
|
.. |
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N.Worth Ratio |
.. |
32.03
|
30.17
|
29.25
|
|
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R.Profit/Sales |
|
1.82 |
0.32 |
1.89 |
.. |
|
N.Profit/Sales |
1.27 |
0.24 |
1.41 |
0.33 |
|
|
Return On Equity |
.. |
0.47 |
3.21 |
0.73 |
|
Notes: Forecast (or estimated) for the
30/09/2013 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 : |
SDA |
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 |
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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 |
|
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 |
|
---- |
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.