MIRA INFORM REPORT

 

 

Report Date :

05.04.2014  

 

IDENTIFICATION DETAILS

 

Name :

TOPY ENTERPRISES LTD

 

 

Registered Office :

Art Village Osaki Central Tower, 1-2-2 Osaki Shinagawaku Tokyo 141-9667

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

March 1947

 

 

Com. Reg. No.:

0107-01-019026

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Import, export, wholesale of materials, metal products, auto parts

 

 

No. of Employees :

315

 

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

 

COMPANY NAME AND ADDRESS

 

 

TOPY ENTERPRISES LTD

 

REGD NAME:   Topy Jitsugyo KK

MAIN OFFICE:  Art Village Osaki Central Tower, 1-2-2 Osaki Shinagawaku Tokyo 141-9667

JAPAN

Tel: 03-3495-6500     

Fax: 03-3495-6542

 

*.. Moved to the caption address in 2008 from the one as given

 

URL:                 http://www.topy-ep.co.jp

E-Mail address: (thru the URL)

 

 

ACTIVITIES     

 

Import, export, wholesale of materials, metal products, auto parts, other

 

 

BRANCHES

 

Nagoya, Osaka, Toyohashi, Sendai, other (Tot 15)

 

 

OVERSEAS

 

Taipei (Taiwan)

 

 

FACTORIES

 

(subsidiary - processing)

 

 

OFFICERS

 

IKUO KURODA, PRES              Tohru Kumazawa, s/mgn dir

Yoshikazu Izumitani, mgn dir      Tatsuo Watanabe, dir

Koichi Utsumi, dir                      Tatsuya Yamazaki, dir   

           

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY      

 

FINANCES        FAIR                             A/SALES          Yen 115,700 M

PAYMENTS      NO COMPLAINTS          CAPITAL           Yen 480 M

TREND             SLOW                           WORTH                        Yen 6,232 M

STARTED         1947                 EMPLOYES      315

 

 

COMMENT      

 

TRADING FIRM, SUBSIDIARY OF TOPY INDUSTRIES LTD.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established on the basis of a trading division separated from Topy industries Ltd, at the caption address (See REGISTRATION).  This is a trading firm for import, export and wholesale of industrial materials, metal products, auto parts & accessories, other.  Has a sales subsidiary in Taiwan. 

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar 2013 fiscal term amounted to Yen 115,700 million, a 4% down from Yen 121,095 million in the previous term.  The recurring profit was posted at Yen 1,510 million and the net profit at Yen 1,000 million, respectively, compared with Yen 1,580 million recurring profit and Yen 519 million net profit, respectively, a year ago.

 

For the term that ended Mar 2014 the recurring profit was projected at Yen 1,600 million and the net profit at Yen 1,100 million, respectively, on a 6% rise in turnover, to Yen 122,000 million.  Final results are yet to be released. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Mar 1947

Regd No.:         0107-01-019026 (Tokyo-Shinagawaku)

Legal Status:       Limited Company (Kabushiki Kaisha)

Authorized:         36 million shares

Issued:                9 million shares

Sum:                   Yen 480 million

Major shareholders (%): Topy Industries Ltd* (100)

           

*.. Electric furnace steel mfr, at the caption address, founded 1934, listed Tokyo, Nagoya S/E’s, capital Yen 20,983 million, sales Yen 226,912 million, operating profit Yen 6,990 million, recurring profit Yen 6,234 million, net profit Yen 3,409 million, total assets Yen 214,771 million, net worth Yen 94,962 million, employees 4,508, pres Yasuo Fujii

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Imports, exports and wholesales metals & projects (46%), industrial & construction materials (40%), auto parts & accessories (wheels for automobile), other (13%), others (1%)

Overseas Sales Ratio (11%)

 

Clients: [Mfrs, wholesalers] Topy Industries, Kyushu Wheel Ind, Hokuetsu Metal Ltd, other 

            No. of accounts: 300

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Topy Industries, Koatsu Gas Kogyo, Itochu Corp, Hokuetsu Metal Ltd, other.

 

Payment record: No complaints

 

Location: Business area in Tokyo.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

                        Mizuho Bank (Ohtemachi)

                        MUFG (Ginza)

                        Relations: Satisfactory

 

 

FINANCES

 

(In Million Yen)

       Terms Ending:

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

122,100

115,700

121,095

123,838

Recur. Profit

　

1,600

1,510

1,380

1,093

Net Profit

　

1,100

1,000

519

550

Total Assets

　

　

43,971

45,536

42,902

Current Assets

　

　

38,517

39,900

36,801

Current Liabs

　

　

34,539

36,705

34,057

Net Worth

　

　

6,232

5,488

5,310

Capital, Paid-Up

　

　

480

480

480

Div.P.Share(¥)

　

　

28.20

36.50

19.50

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

5.53

-4.46

-2.21

-0.93

    Current Ratio

..

111.52

108.70

108.06

    N.Worth Ratio

..

14.17

12.05

12.38

    R.Profit/Sales

1.31

1.31

1.14

0.88

    N.Profit/Sales

0.90

0.86

0.43

0.44

    Return On Equity

..

16.05

9.46

10.36

 

Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.