|
Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
TANAKA SCIENTIFIC LIMITED |
|
|
|
|
Registered Office : |
7-10-3 Ayase Adachiku Tokyo 120-1711 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
September 1918 |
|
|
|
|
Com. Reg. No.: |
0118-01-009712 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufactures scientific
instruments for oil industries |
|
|
|
|
No. of Employees : |
23 |
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 |
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 |
TANAKA SCIENTIFIC LIMITED
REGD NAME: Tanaka
Kagaku Kiki Seisaku KK
MAIN OFFICE: 7-10-3
Ayase Adachiku Tokyo 120-1711 JAPAN
Tel:
03-3620-1711 Fax: 03-3620-1713
URL: http://www.tanaka-sci.com
E-Mail
address: (thru the URL)
Mfg of
scientific instruments
Nil
China
At the
caption address
KATSUHIKO
SHIMODAIRA, PRES
Hiroshi
Tezuka, dir
Mitsuaki
Sasaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCE FAIR A/SALES Yen 1,027 M
PAYMENTS No Complaints CAPITAL Yen
20 M
TREND UP WORTH Yen 752 M
STARTED 1918 EMPLOYES 23
MFR OF SCIENTIFIC INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established originally in 1901 by late Mokujiro Tanaka, on his
account, for making scientific instruments for petroleum industry, and was
incorporated in 1918 and the firm has been succeeded by his descendants. This is a specialized mfr of scientific
instruments for oil industry (See OPERATION). Clients include governments, oil industries,
agricultural coops, other.
The sales
volume for May/2012 fiscal term amounted to Yen 1,027 million, a 23% up from
Yen 837 million in the previous term.
Exports rose to Mid East and S/E Asian countries from oil
industries. The recurring profit was
posted at Yen 190 million and the net profit at Yen 103 million, respectively,
compared with Yen 115 million recurring profit and Yen 75 million net profit,
respectively, a year ago.
For the
term that ended May 2013 the recurring profit was projected at Yen 200 million
and the net profit at Yen 110 million, respectively, on a 3% rise in turnover,
to Yen 1,060 million. Final results are
yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Sept
1918
Regd No.: 0118-01-009712 (Tokyo-Adachiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 1.6 million shares
Issued:
400,000 shares
Sum: Yen 20 million
Major shareholders
(%): Katsuhiko Tanaka (98.3), Ayako Yamada (0.7), Hiroshi Tezuka
(0.5), Mitsuaki Sasaki (0.5)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures scientific instruments for oil industries: distillation,
sulfur analysis, cold filter plugging point, kinematic viscosity, softening
point, color, flash point, pour/cloud point, carbon residue, airline point,
vapor pressure, chillers, other (--100%)
Exports (71.1%)
Clients: [Mfrs, wholesalers] Yokoyama Shokai,
Ozawa Scientific, Shinwa Kagaku, Zen-Noh, other
No. of
accounts: 100
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Tsuchiya Electric,
Nisshin Giken, other^
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Senju)
Shoko
Chukin Bank (Ueno)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
|
Annual
Sales |
|
1,060 |
1,027 |
837 |
882 |
|
Recur.
Profit |
|
200 |
190 |
115 |
|
|
Net Profit |
|
110 |
103 |
75 |
44 |
|
Total
Assets |
|
|
1,306 |
1,095 |
1,019 |
|
Current
Assets |
|
|
931 |
688 |
|
|
Current
Liabs |
|
|
400 |
271 |
|
|
Net
Worth |
|
|
752 |
657 |
584 |
|
Capital,
Paid-Up |
|
|
20 |
20 |
20 |
|
Div.P.Share(¥) |
|
|
3.00 |
3.00 |
3.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.21 |
22.70 |
-5.10 |
-0.90 |
|
|
Current Ratio |
|
.. |
232.75 |
253.87 |
.. |
|
N.Worth Ratio |
.. |
57.58 |
60.00 |
57.31 |
|
|
R.Profit/Sales |
|
18.87 |
18.50 |
13.74 |
.. |
|
N.Profit/Sales |
10.38 |
10.03 |
8.96 |
4.99 |
|
|
Return On Equity |
.. |
13.70 |
11.42 |
7.53 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.86 |
|
|
1 |
Rs.102.50 |
|
Euro |
1 |
Rs.87.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.