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Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
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Name : |
TESAC WIRE ROPE CO LTD |
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Registered Office : |
11-1 Nishiki-Nakamachi Kaizuka |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April, 1996 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of wire ropes |
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No. of Employees : |
219 |
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 |
COMPANY NAME
TESAC WIRE ROPE CO
LTD
REGD NAME
KK Tesac Wire Rope
MAIN OFFICE
11-1 Nishiki-Nakamachi Kaizuka Osaka-Pref 597-0093
Tel: 072-432-9251 Fax:
072-432-2339
URL: http//:www.tesac-wirerope.co.jp
E-mail: info@tesac-wirerope.co.jp
ACTIVITIES
Mfg of wire ropes
BRANCHES
Tokyo, Nagoya, Fukuoka, Sapporo
FACTORIES
At the caption address
OFFICER(S)
KENJI DOI, PRES Akihiko
Tanaka, mgn dir
Shuji Maebashi, dir Hiroki
Murakami, dir
Haruo Johdo, dir Koji
Seta, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 7,544 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 450 M
TREND UP WORTH Yen 5,663 M
STARTED 1996 EMPLOYES 219
COMMENT
MFR OF WIRE ROPES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGGEMENTS
MAX CREDIT LIMIT: YEN 313/6 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1907 by a local
entrepreneur for making manila ropes, on his account. Incorporated in 1996, the firm switched
operations to the making of wire ropes.
This is the top maker of wire ropes for elevator-use. Goods are also exported.
FINANCIAL
INFORMATION
The sales volume for Mar/2012 fiscal term amounted to Yen 7,544 million,
an almost similar turnover of Yen 7,531 million in the previous term. The recurring profit was posted at Yen 450
million and the net profit at Yen 270 million, respectively, compared with Yen
450 million recurring profit and Yen 257 million net profit, respectively, a
year ago .
For the term that ended Mar 2013 the recurring profit was projected at
Yen 470 million and the net profit at Yen 280 million, respectively, on a 5%
rise in turnover, to Yen 7,950 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 313.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1996
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 36,000
shares
Issued: 9,000 shares
Sum: Yen
450 million
Major shareholders
(%):
Shinko Wire Co Ltd* (50.1), Kobe
Steel Ltd** (42.1), Metal One Corp (7.8)
No. of
shareholders: 3
*.. Shinko Wire Co Ltd, leading processor of secondary products of steel
wire, Hyogo-Pref, founded 1954, listed Tokyo S/E (second section), capital Yen
8,062 million, sales Yen 28,769 million, operating profit Yen 1,620 million,
recurring profit Yen 1,426 million, net profit Yen 544 million, total assets
Yen 44,542 million, net worth Yen 15,798 million, employees 789, pres Takanori
Kominami
**.. Kobe Steel Ltd,
one of leading steelmakers, Kobe, founded 1911, listed Toyo, Osaka, Nagoya
S/E’s, capital Yen 233,313 million, sales Yen 1,685,529 million, operating
profit Yen 11,234 million, recurring loss Yen 18,146 million, net loss Yen
26,976 million, total assets Yen 2,226,996 million, net worth Yen 569,922
million, employees 36,625, pres Hiroya Kawasaki
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Manufactures
wire ropes for use in: elevators, gondola lifts, bridges, rope ways, cable
cars, ships, fishing, power cables, electric powers, other (--100%).
Clients: [Mfrs,
wholesalers] Metal One Sales, Sumitomo Corp, Chuwa Sangyo Inc, Toshiba Elevator
& Building System Corp, Otis Elevator Co, Hitachi Ltd, Fuji Tech Co,
Kobelco Crane, Tadano Ltd, Nippon Cable Co, Hitachi Sumitomo Heavy Industries
Construction Crane Co, IHI Transport Machinery Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Metal One, Kumeda Unso, Shinko Wire Co, Toda Sen-I Kogyo, Koyo
Senzai, other.
Payment record: No Complaints
Location: Business area in
Kaizuka City, Osaka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (H/O)
Mizuho Bank (Amagasaki)
Relations: Satisfactory
FINANCES
(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 |
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7,950 |
7,544 |
7,531 |
8,191 |
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Recur. Profit |
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470 |
450 |
451 |
850 |
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Net Profit |
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280 |
270 |
257 |
523 |
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Total Assets |
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9,727 |
9,303 |
9,413 |
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Current Assets |
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6,322 |
5,953 |
6,198 |
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Current Liabs |
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2,910 |
2,746 |
2,793 |
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Net Worth |
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5,663 |
5,520 |
5,525 |
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Capital, Paid-Up |
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450 |
450 |
450 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.38 |
0.17 |
-8.06 |
69.38 |
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Current Ratio |
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217.25 |
216.79 |
221.91 |
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N.Worth Ratio |
.. |
58.22 |
59.34 |
58.70 |
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R.Profit/Sales |
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5.91 |
5.97 |
5.99 |
10.38 |
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N.Profit/Sales |
3.52 |
3.58 |
3.41 |
6.39 |
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Return On Equity |
.. |
4.77 |
4.66 |
9.47 |
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Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal
term.
RATING EXPLANATIONS
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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 |
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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.