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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TOYO LINT FREE CO LTD |
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Registered Office : |
3-60-14 Izumi Suginamiku Tokyo 168-0063 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2012 |
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Date of Incorporation : |
September 1970 |
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Com. Reg. No.: |
0112-01-004984
(Tokyo-Suginamiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of cleanroom
garment, hood, boot, gloves |
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No. of Employees : |
41 |
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 : |
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 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
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 LINT FREE CO LTD
Toyo Lint Free KK
3-60-14 Izumi Suginamiku Tokyo 168-0063 JAPAN
Tel:
03-3323-1151 Fax: 03-3323-1159
URL: http://www.lintfree.co.jp
E-Mail
address: develop@lintfree.co.jp
Mfg of
cleanroom garment, hood, boot, gloves
Osaka, Yamagata, Kumamoto
Vietnam,
China (2)
Akita
(subsidiary); Vietnam
YUKIO
TERAI, PRES
Yasuo
Ogasawara, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,894 M
PAYMENTSNo Complaints
CAPITAL Yen 80 M
TREND UP WORTH Yen 730 M
STARTED 1970 EMPLOYES 41
MFR OF CLEANROOM CLOTHES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Chikuma & Co Ltd, Osaka, mfr of business & school uniforms, for advancing into mfg of cleanroom garments, and accessories. This is a specialize mfg of cleanroom garment, hood, boot, gloves, other. Goods are manufactured at a subsidiary factory in Akita and Vietnam. Clients include major manufactures, wholesalers, other
The sales volume for Nov/2012 fiscal term amounted to Yen 1,894 million, a 2% up from Yen 1,863 million in the previous term. The recurring profit was posted at Yen 38 million and the net profit at Yen 18 million, respectively, compared with Yen 41 million recurring profit and Yen 18 million net profit, respectively, a year ago.
For the current term ending Nov 2013 the recurring profit is projected at Yen 40 million and the net profit at Yen 20 million, respectively, on a 3% rise in turnover, to Yen 1,950 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Sept 1970
Regd No.: 0112-01-004984 (Tokyo-Suginamiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
640,000 shares
Issued:
160,000 shares
Sum: Yen 80 million
Major shareholders (%): Chikuma & Co Ltd* (100)
*.. Mfr of business/school uniforms, Osaka, founded 1916, capital 678 million, sales Yen 22,767 million, operating profit yen 764 million, recurring profit Yen 748 million, net profit Yen 748 million, total assets 17,028 million, employees 219, pres H Chikuma
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures cleanroom garments, hood, boots, gloves, other (--100)
Clients: [Mfrs, wholesalers] As One Corp, Shin-Etsu Semiconductors, Renesas Electronics, Toshiba Corp, Takeda Chemical Ind, Seiko Instruments, Fuji Film, Panasonic Corp, Chubu CIC, Daiichi Sankyo Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Chikuma & Co, Mitsu-Uma Co, Nakada Hisakichi Shoten, Medline International Japan, Sumiron Co, Japan Medical Products, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Bingomachi)
MUFG (Shinjukudori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2013 |
30/11/2012 |
30/11/2011 |
30/11/2010 |
|
|
Annual
Sales |
|
1,950 |
1,894 |
1,863 |
1,787 |
|
Recur.
Profit |
|
40 |
38 |
41 |
|
|
Net
Profit |
|
20 |
18 |
18 |
25 |
|
Total
Assets |
|
|
1,362 |
1,335 |
1,364 |
|
Current
Assets |
|
|
932 |
902 |
|
|
Current
Liabs |
|
|
454 |
443 |
|
|
Net
Worth |
|
|
730 |
712 |
693 |
|
Capital,
Paid-Up |
|
|
80 |
80 |
80 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.96 |
1.66 |
4.25 |
7.52 |
|
|
Current Ratio |
|
.. |
205.29 |
203.61 |
.. |
|
N.Worth Ratio |
.. |
53.60 |
53.33 |
50.81 |
|
|
R.Profit/Sales |
|
2.05 |
2.01 |
2.20 |
.. |
|
N.Profit/Sales |
1.03 |
0.95 |
0.97 |
1.40 |
|
|
Return On Equity |
.. |
2.47 |
2.53 |
3.61 |
|
Notes:
Forecast (or estimated) figures for the 30/11/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
UK Pound |
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
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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 |
|
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.