|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
TMY CORPORATION |
|
|
|
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Registered Office : |
3-20-15 Shirogane Showaku |
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Country : |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
October 1947 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of automotive parts & components, special steel products |
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No. of Employees : |
292 |
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 : |
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 |
|
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 |
TMY CORPORATION
Tatsumiya Kogyo KK
3-20-15 Shirogane
Showaku Nagoya 466-8711 JAPAN
Tel:
052-882-8501 Fax: 052-882-8852
*.. The is its Overseas Division at: 2-4-51 Nakajima Nishiyodogawaku Osaka, as given
URL: http://www.tmy-net.co.jp
E-Mail address: tokatsu@tmy-net.co.jp
Import,
export of automotive parts & components
Domestic
32
MIYOSHI
HAJI, PRES Otohiko Aoki, ch
Kazunari Oshima, mgn dir Jiro Ishikawa, dir
Koji Ojima dir Yasushi
Kishimoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 46,307 M
PAYMENTS REGULAR CAPITAL Yen 150 M
TREND SLOW WORTH Yen
16,392 M
STARTED 1947 EMPLOYES 292
TRADING HOUSE SPECIALIZING IN AUTOMOTIVE PARTS &
COM-PONETS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company is a specialized trader of automotive parts & components such as suspension, clutches, brakes, other. Also handles special steel products. 32 branches domestic nationwide. Business keeps growing on the back of robust automobile industry.
The sales volume for Dec/2012 fiscal term amounted to Yen 46,307 million, a 6% down from Yen 49,332 million in the previous term. Exports were hurt by the high Yen, reducing earnings in Yen terms. The recurring profit was posted at Yen 1,846 million and the net profit at Yen 883 million, respectively, compared with Yen 2,017 million recurring profit and Yen 1,038 million net profit, respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected at Yen 1,900 million and the net profit at Yen 900 million, respectively, on a 5% rise in turnover, to Yen 48,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1947
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.2 million shares
Issued:
300,000 shares
Sum: Yen 150 million
Major shareholders (%):
Otohiko Aoki (24.1), Yoshio Joh (10.7), Aichi Steel Corp (10), Ikuyo Joh (9)
No. of shareholders: 75
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales automotive parts & components (--41%), special steel products (37%), overseas trading, others (22%)
Clients: [Car dealers, wholesalers] Autobacks Seven, Aichi Steel Corp, ADL, TISS, Eltawfikia, Kyoto Machine Tools, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aichi Steel Corp, Nippon Micro Filter, Bando Chemical Ind, Sumitomo Corp, Aisin Seiki, GS Yuasa Battery, other.
Payment record: Regular
Location:
Business area in Nagoya. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Nagoya-Chuo)
Resona
Bank (Nagoya)
Relations:
Satisfactory.
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
48,500 |
46,307 |
49,332 |
46,846 |
|
Recur.
Profit |
|
1,900 |
1,846 |
2,017 |
1,895 |
|
Net
Profit |
|
900 |
883 |
1,038 |
678 |
|
Total
Assets |
|
|
30,771 |
32,111 |
30,592 |
|
Current
Assets |
|
|
24,517 |
25,910 |
24,767 |
|
Current
Liabs |
|
|
12,448 |
14,529 |
14,242 |
|
Net
Worth |
|
|
16,392 |
15,536 |
14,524 |
|
Capital,
Paid-Up |
|
|
150 |
150 |
150 |
|
Div.Ttl
in Million (¥) |
|
|
26.5 |
26.5 |
26.8 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.74 |
-6.13 |
5.31 |
19.18 |
|
|
Current Ratio |
|
.. |
196.96 |
178.33 |
173.90 |
|
N.Worth Ratio |
.. |
53.27 |
48.38 |
47.48 |
|
|
R.Profit/Sales |
|
3.92 |
3.99 |
4.09 |
4.05 |
|
N.Profit/Sales |
1.86 |
1.91 |
2.10 |
1.45 |
|
|
Return On Equity |
.. |
5.39 |
6.68 |
4.67 |
|
Notes: Forecast
(or estimated) for the 31/12/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
UK Pound |
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
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.