MIRA INFORM REPORT
|
Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TODO SEISAKUSHO LTD |
|
|
|
|
Registered Office : |
No. 10 Hase Bldg 2F, 391 Osakacho Karasuma-5-jyo Shimogyoku Kyoto 600-8177 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
January 1945 |
|
|
|
|
Com. Reg. No.: |
018180 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures semiconductor-related machines, textile
machines |
|
|
|
|
No. of Employees : |
73 |
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 : |
No Complaints |
|
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
ECONOMIC OVERVIEW - JAPAN
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
TODO SEISAKUSHO LTD
KK Todo Seisakusho
No. 10 Hase Bldg 2F, 391 Osakacho Karasuma-5-jyo Shimogyoku Kyoto
600-8177 JAPAN
Tel: 075-371-0701
Fax: 075-371-0708
URL: http://www.todo-ltd.co.jp/
E-Mail address: td-somu@todo-ltd.co.jp
Mfg of textile machines
Osaka
Yuil Texma Co Ltd (Korea); PD Surya Lestari (Indonesia);
Trans World Marketing (India); Mr Tsai Chia Shu (Taiwan); Peden Textile
Equipment Co (USA); Shanghai Todo Machinery Mfg Co Ltd (China)
Shiga
Shanghai Todo Machinery Mfg (China) (subsidiary)
TAKASHI WADA, PRES
Toshiyuki Todo, ch
Shigetaka Ashida, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 935 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 100 M
TREND SLOW WORTH Yen 130 M
STARTED 1945 EMPLOYES 73
MFR SPECIALIZING IN TEXTILE MACHINES.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established originally in 1905 by a
certain Todo in order to make most of his experience in the subject line of
business, on his account, and has been succeeded by his descendants. This is a specialized mfr of textile machines
& equipment (See OPERATION). Has a
subsidiary factory in China, Shanghai Todo Machinery Mfg Co Ltd, founded in
1994. 6 appointed agents centrally in
Asian countries, including one in USA.
Clients are major electronics devices mfrs nationwide. Goods are also imported and exported.
The sales volume for Dec/2012 fiscal term amounted to Yen
935 million, a 16% down from Yen 1,116 million in the previous term. The high Yen continued to eat into earnings
& profits in Yen terms. The
operations continued in the red to post Yen 106 million recurring loss and Yen
116 million net losses, respectively, compared with Yen 14 million recurring
loss and Yen 3 million net profit, respectively, a year ago.
For the current term ending Dec 2013 the operations are
projected to come back to profitability to post Yen 200 million recurring
profit and Yen 100 million net profits, respectively, on a 7% rise in turnover,
to Yen 1,000 million. Weaker Yen may
contribute to raise sales earnings & profits
Financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Date Registered:
Jan 1945
Regd No.:
(Kyoto-Shimogyoku)
018180
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8
million shares
Issued:
2 million shares
Sum: Yen
100 million
Major shareholders (%): Mikiko Wada (14), Toshiyuki Todo
(11), Akiko Kitamura (10), Takashi Wada (6)
No. of shareholders: 57
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Manufactures semiconductor-related machines, textile machines;
Other (--100%)
Goods are also imported and exported.
(Mfg
products):
Automated Machinery Div: tape & reeling machines,
direct-in taping machines, auto reel charger, inserter/remover for burn-in
board, automatic IC inserter/remover for burn-in board;
Textile Machinery Div: automatic drawing machines, warp
typing machines, reed drawing machines, warp leasing machines, reaching
machines, dropper pinning machines;
Storage & Transport Equipment Div: (for the weaving
factory) warp flow system, warp beam carrier, manual warp beam carrier, cloth
roll doffer carrier, warp jointer, beam stocker
Clients:
[Electronics mfrs, wholesalers] Sony Corp, NEC, Mitsubishi Electric, NEC
Factory Engineering, Toshiba Corp, Sharp Corp, Rohm Co, Oki Electric Ind,
Panasonic Electronic Device, Renesas Technology, Toyota Tsusho Corp, Marubeni
Corp, Fujitsu Ltd, Asahi Kasei Micro System, Nissan Kiko Co, other.
No. of
accounts: 800
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sanko Kiko Co, Takebishi
Electric Sales, Kyoto Eikosha, Kolec Co, KISTEM Co, Yamashina Engineering,
Hokuriku Kogyo Co, Kyoei Nichiyu Co, Kolec Co, other.
Imports from China, etc.
Payment
record: No Complaints
Location:
Business area in Kyoto. Office
premises at the caption address are leased and maintained satisfactorily.
Bank
References:
Bank of Kyoto (H/O)
MUFG (Kyoto-Chuo)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual Sales |
|
1,000 |
935 |
1,116 |
1,169 |
|
Recur. Profit |
|
200 |
-106 |
-14 |
-186 |
|
Net Profit |
|
100 |
-116 |
3 |
-63 |
|
Total Assets |
|
|
1,225 |
1,572 |
1,527 |
|
Current Assets |
|
|
772 |
1,005 |
997 |
|
Current Liabs |
|
|
372 |
614 |
586 |
|
Net Worth |
|
|
130 |
246 |
243 |
|
Capital, Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.95 |
-16.22 |
-4.53 |
43.61 |
|
|
Current Ratio |
|
.. |
207.53 |
163.68 |
170.14 |
|
N.Worth Ratio |
.. |
10.61 |
15.65 |
15.91 |
|
|
R.Profit/Sales |
|
20.00 |
-11.34 |
-1.25 |
-15.91 |
|
N.Profit/Sales |
10.00 |
-12.41 |
0.27 |
-5.39 |
|
|
Return On Equity |
.. |
-89.23 |
1.22 |
-25.93 |
|
Notes: Forecast figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
SHG |
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.