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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
TAK CORPORATION |
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Registered Office : |
4652-1 Komuro Inamachi Kita-Adachigun Saitama-Pref 362-0806 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
July 1994 |
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Com. Reg. No.: |
0300-01-041521 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesaler of automotive parts |
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No of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy.
|
Source
: CIA |
TAK CORPORATION
KK TAK Corporation
4652-1 Komuro Inamachi Kita-Adachigun
Saitama-Pref 362-0806 JAPAN
Tel: 048-723-7708 Fax: 048-723-7774
*.. Registered at: 258-7 Koizumi Ageo
Saitama-Pref (President’s home address)
URL: N/A
Wholesale of automotive parts
Nil
TAKAO OKADA, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 220 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 20 M
STARTED 1994 EMPLOYES 2
WHOLESALER OF
AUTOMOTIVE PARTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR
MODERATE BUSINESS ENGAGEMENTS.
The subject company
was established by Kunio Okada (now auditor) in order to make most of his
experience in the subject line of business.
Takao is his son, who took the pres office in Jul 2004. This is a family-based trading firm for
wholesaling automotive parts: lights, radiators, other. Goods are also retailed. Clients are local automotive parts chain
stores, other
Financial are only
partially disclosed as is the case with family-based companies.
The sales volume
for Aug/2013 fiscal term amounted to Yen 220 million, a 4% down from Yen 230
million in the previous term. Orders and
demand were low for the term. The net
profit was posted at a minimum amount, compared with Yen 1 million a year ago.
For the current
term ending Aug 2014 the net profit is projected at Yen 1 million, on a 5% rise
in turnover, to Yen 230 million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date
Registered: Jul 1994
Regd
No.: 0300-01-041521
(Saitama-Ageo)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued:
200 shares
Sum:
Yen
10 million
Major shareholders
(%): Takao Okada (100)
Nothing detrimental is known as to his
commercial morality.
Activities: Wholesales
automotive parts: LED lights, radiators, other (--100%)
Clients: [Automotive parts
chain stores, specialty stores] Autobacs Seven Co, Cores International Inc, other
No. of accounts: 50
Domestic areas of activities: Centered in the
greater-Tokyo
Suppliers: Mfrs,
wholesalers, other
Payment
record: Slow but correct
Location: Business area in Saitama-Pref. Office premises at the caption address are
leased and maintained satisfactorily.
Bank
References:
Musashino Bank (Ageo)
Relations: Money deposits & transfers
only
|
Terms Ending: |
|
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
Annual
Sales |
|
230 |
220 |
230 |
230 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
1 |
0 |
1 |
1 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
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Net
Worth |
|
|
20 |
20 |
19 |
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Capital,
Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.55 |
-4.35 |
0.00 |
-8.00 |
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Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
.. |
.. |
||
|
N.Profit/Sales |
0.43 |
0.00 |
0.43 |
0.43 |
|
Notes: Financials are only partially
disclosed.
Forecast (or estimated) figures for the
31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.32 |
|
|
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
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Report Prepared
by : |
DPT |
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 |
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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.