|
Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
TKR CORPORATION |
|
|
|
|
Registered Office : |
2-19-3 Tamagawa Otaku Tokyo 146-0095 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
March 1954 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Manufactures of metallic press molds, electric switches, car stereo, game machines. |
|
|
|
|
No. of Employees : |
143 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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
TKR CORPORATION
REGD NAME: KK T. K. R.
MAIN OFFICE: 2-19-3 Tamagawa Otaku Tokyo 146-0095 JAPAN
Tel: 03-3756-8151
Fax: 03-3756-8166
URL: http://www.tkr.co.jp
E-Mail address: (thru the URL)
Mfg of press mold, electric
switches, car stereo, game machines
Ibaraki, Iwate, Sendai
Malaysia, China, Hong Kong
Malaysia, China
KAZUMITSU SHIOZAWA, PRES
Hideaki Motomura, dir Motoyuki Arima, dir
Fumiaki Ono, dir Norihiko Suehiro, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 4,500 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 100 M
TREND SLOW WORTH Yen 4,897 M
STARTED 1954 EMPLOYES 143
MFR OF PRESS MOLD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established on the basis of a division separated from Nippon Mfg Service Corp
(See REGISTRATION). This is a specialized mfr of metallic press
mold, electric switches, car stereo, game machines, other. Has mfg bases in China and Thailand. Clients include major electronic mfrs,
electric mfrs, other, nationwide
The sales volume for Dec/2012
fiscal term amounted to Yen 4,500 million, a 6% down from Yen 4,795 million in the
previous term. The operations continued
in the red to post Yen 57 million net losses, compared with Yen 28 million net
losses a year ago.
For the current term ending Dec
2013 the operations are projected to come back to profitability to post Yen 50
million net profit, on a 4% rise in turnover, to Yen 4,700 million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1954
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major shareholders (%):
Nippon Mfg Service Corp* (53), Howa KK (22.8), Kazumitsu Shiozawa (11.1)
No. of shareholders: 7
*.. Medium size company for mfg
staffing & outsourcing services, founded 1985, capital Yen 500 million,
sales Yen 38,869 million, operating profit Yen 387 million, recurring profit
Yen 564 million, net profit Yen 235 million, total assets Yen 19,061 million,
net worth Yen 3,756 million, employees 6,601, pres Fumiaki Ono
Nothing detrimental is known as to
the commercial morality of executives.
Activities:
Manufactures metallic press molds, electric switches, car stereo, game machines
(for home-use), other (--100%)
Clients: [Mfrs, wholesalers]
Panasonic Corp, Panasonic Group firms, Hitachi Group, Canon Inc, Pioneer
Electronics, other
No.
of accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TKR Malaysia, TKR Hong Kong, TKR Ibaraki, TKR Iwate, TKR Tohoku,
Rhome, other
Payment record: Slow
but correct
Location: Business
area in Tokyo. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Kamata)
Mizuho Bank (Shinjuku-Fukutoshin)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/03/2011 |
|
|
Annual
Sales |
|
4,700 |
4,500 |
4,795 |
8,173 |
|
Recur.
Profit |
|
|
|
71 |
299 |
|
Net
Profit |
|
50 |
-57 |
-28 |
520 |
|
Total
Assets |
|
|
7,150 |
7,440 |
8,624 |
|
Current
Assets |
|
|
2,200 |
2,292 |
3,234 |
|
Current
Liabs |
|
|
1,838 |
1,572 |
2,097 |
|
Net
Worth |
|
|
4,897 |
4,895 |
4,946 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.44 |
-6.15 |
-21.77 |
-1.47 |
|
|
Current Ratio |
|
.. |
119.70 |
145.80 |
154.22 |
|
N.Worth Ratio |
.. |
68.49 |
65.79 |
57.35 |
|
|
R.Profit/Sales |
|
.. |
.. |
1.48 |
3.66 |
|
N.Profit/Sales |
1.06 |
-1.27 |
-0.58 |
6.36 |
|
|
Return On Equity |
.. |
-1.16 |
-0.57 |
10.51 |
|
Notes: Forecast (or estimated) figures
for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.