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Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TOYO GRINDING BALL CO LTD |
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Registered Office : |
Toyo Bldg 2F, 1-2-4 Koishikawa Bunkyoku Tokyo 112-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.01.2013 |
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Date of Incorporation : |
February, 1945 |
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Com. Reg. No.: |
0100-01-005363 (Tokyo-Bunkyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of grinding
machines, wear & heat resistant parts |
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No. of Employees : |
18 |
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 : |
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 |
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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 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 |
TOYO
GRINDING BALL CO LTD
Toyo Tetsukyu KK
Toyo Bldg 2F, 1-2-4 Koishikawa Bunkyoku
Tokyo 112-0002 JAPAN
Tel: 03-3815-5861 Fax: 03-3811-9238
E-Mail address: hiroyuki@toyo-gb.com
Import, export, wholesale of grinding
machines, wear & heat resistant parts
Sapporo, Fukuoka
China
(subcontracted)
SHIN’ICHI KASUGA, PRES
Hiroyuki Kasuga, mgn dir
Masashi Kinoshita, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,000 M
PAYMENTS REGULAR CAPITAL Yen
60 M
TREND UP WORTH Yen 1,994 M
STARTED 1945 EMPLOYES 18
TRADING FIRM SPECIALIZING IN GRINDING
MACHINES, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally
in 1937 by father of Shin’ichi Kasuga, on his account, for exporting grinding
machines and was incorporated in Feb/1945.
Shin’ichi Kasuga took the pres office in Mar/1985. This is a trading firm for import, export and
wholesale of grinders, wear & heat resistant parts & components. Clients include major mfrs, wholesalers,
other
The sales volume for Jan/2013 fiscal term
amounted to Yen 2,000 million, a 3% up from Yen 1,950 million in the previous
term. The net profit was posted at Yen
94 million, compared with Yen 55 million a year ago.
For the current term ending Jan 2014 the net
profit is projected at Yen 95 million, on a 5% rise in turnover, to Yen 2,100
million. Business is seen expanding
steadily.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Date
Registered: Feb 1945
Regd
No.: 0100-01-005363
(Tokyo-Bunkyoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 4.8 million shares
Issued:
1.2 million
shares
Sum:
Yen
60 million
Major
shareholders (%): Shin’ichi Kasuga,
executives, families (--100)
No.
of shareholders: 7
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Imports, exports
and wholesales grinding machines, wear & tear resistant parts, components,
other (--100%)
Clients: [Mfrs,
wholesalers] JX Nippon Oil & Nikko Mining Corp, Sumitomo Osaka Cement,
Taiheiyo Cement, Mitsubishi Material, Takenaka Corp, Taisei Corp, Toyota Tsusho
Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Grinding Ball China (40%), Kanae Co, Yoshino Gypsum Co,
Apollo Kenzai Co, other
Payment
record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Marunouchi)
SMBC (Kanda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2014 |
31/01/2013 |
31/01/2012 |
31/01/2011 |
|
|
Annual Sales |
|
2,100 |
2,000 |
1,950 |
1,800 |
|
Recur. Profit |
|
|
|
|
|
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Net Profit |
|
95 |
94 |
55 |
2 |
|
Total Assets |
|
|
3,102 |
3,133 |
2,991 |
|
Current Assets |
|
|
882 |
826 |
703 |
|
Current Liabs |
|
|
531 |
686 |
608 |
|
Net Worth |
|
|
1,994 |
1,907 |
1,851 |
|
Capital, Paid-Up |
|
|
60 |
60 |
60 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
2.56 |
8.33 |
5.88 |
|
|
Current Ratio |
|
.. |
166.10 |
120.41 |
115.63 |
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N.Worth Ratio |
.. |
64.28 |
60.87 |
61.89 |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
4.52 |
4.70 |
2.82 |
0.11 |
|
|
Return On Equity |
.. |
4.71 |
2.88 |
0.11 |
|
Notes: Forecast (or estimated)
figures for the 31/01/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.40 |
|
|
1 |
Rs.99.28 |
|
Euro |
1 |
Rs.83.68 |
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 |
|
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 |
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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.