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Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEISHIN ELECTRIC CO LTD |
|
|
|
|
Registered Office : |
2-9-10 Ryoke Kawaguchi Saitama-Pref
332-0004 |
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|
|
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Country : |
Japan |
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|
|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1983 |
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|
|
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Com. Reg. No.: |
0300-01-076121
(Saitama-Kawaguchi) |
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Manufacturer of electronic parts &
components |
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|
|
|
No. of Employees : |
13 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
Very High |
C1 |
|
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 |
TEISHIN ELECTRIC CO LTD
Teishin Denki KK
2-9-10 Ryoke
Kawaguchi Saitama-Pref 332-0004 JAPAN
Tel:
048-223-1271 Fax: 048-222-6916
URL: http://www.teishin-bel.co.jp
E-Mail address: business.dept@teishin-bel.co.jp
Mfg of
electronics parts
Osaka
Kawaguchi
(2)
China (3),
Taiwan (3), Korea, Hong Kong (-partnership mfrs)
YASUHIRO
SUZUKI, PRES
Sadao
Suzuki, ch
Eisaku
Takatsuka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 295 M
PAYMENTS No
Complaints CAPITAL Yen 20
M
TREND SLOW WORTH Yen 178 M
STARTED 1983 EMPLOYES 13
MFG OF ELECTRIC PARTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Sadao Suzuki, now ch, in order to
make most of his experience in the subject line of business. Yasuhiro is his son, who took the pres office
in Jun/2012. This is a specialized mfr
of electric parts. Goods are manufactures
at its own yards domestically and also at overseas partnership makers: China
(3), Taiwan (3), Korea and Hong Kong.
Domestic clients include major electronics/electric makers.
The sales volume for Mar/2013 fiscal term amounted to Yen 295 million, a
5% down from Yen309 million in the previous term. Export/import sales were hurt by the high
Yen, reducing revenues in Yen terms. The
recurring profit was posted at Yen 15 million and the net profit at Yen 15
million, respectively, compared with Yen 10 million recurring profit and yen 9
million net losses, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 16 million and the net profit at Yen 16 million, respectively, on a 5%
rise in turnover, to Yen 310 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul 1983
Regd No.: 0300-01-076121 (Saitama-Kawaguchi)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
160,000 shares
Issued: 40,000 shares
Sum: Yen 20 million
Major shareholders (%): Yasuhiro Suzuki (27), Kazue
Suzuki (21), Sadao Suzuki (16), other
No. of shareholders: 19
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
electric parts & components (100%).
Goods are manufactures domestically and also at partnership makers in:
China (3), Taiwan (3), Korea and Hong Kong.
(Mfg Items): clips, test reads,
plugs, jacks & parts, AV cables, adapters, connectors & coaxial test
reads, spacers, molded & metal cases, other
Clients: [Mfrs,
wholesalers] Okamoto Electronics Corp, Kakuta Radio & Electric Co, Hakko
Corp, Mitsubishi Materials, Pioneer, Mitsubishi Electric, Riken Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Yoshimi Teishin Electric Co, Teishin Metal Co, Yanaka Corp, Nezu
Corp, Nippon Resin Ind, Tanaka Kinzoku Kogyo, Sanko Plastic, Patlite Corp,
other
Imports from China, Taiwan, Korea, other
Payment record: No
Complaints
Location: Business area in
Kawaguchi, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
MUFG (Akabane-Ekimae)
Saitama Resona Bank (Kawaguchi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
310 |
295 |
309 |
294 |
|
Recur.
Profit |
|
16 |
15 |
10 |
7 |
|
Net
Profit |
|
16 |
15 |
9 |
-6 |
|
Total
Assets |
|
|
475 |
467 |
471 |
|
Current
Assets |
|
|
191 |
188 |
196 |
|
Current
Liabs |
|
|
28 |
27 |
79 |
|
Net
Worth |
|
|
178 |
163 |
153 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.08 |
-4.53 |
5.10 |
4.26 |
|
|
Current Ratio |
|
.. |
682.14 |
696.30 |
248.10 |
|
N.Worth Ratio |
.. |
37.47 |
34.90 |
32.48 |
|
|
R.Profit/Sales |
|
5.16 |
5.08 |
3.24 |
2.38 |
|
N.Profit/Sales |
5.16 |
5.08 |
2.91 |
-2.04 |
|
|
Return On Equity |
.. |
8.43 |
5.52 |
-3.92 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
UK Pound |
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
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 |
|
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.