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Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
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Name : |
TOKITA SEED CO LTD |
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Registered Office : |
1069 Nakagawa Minumaku Saitama 337-0043 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2013 |
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Date of Incorporation : |
November 1947 |
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Com. Reg. No.: |
005918 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of seeds & seedlings, vegetables, fruits, gardening
tools & supplies |
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No. of Employees |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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. 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 |
TOKITA SEED CO LTD
REGD NAME: Tokita
Shubyo KK
MAIN OFFICE: 1069
Nakagawa Minumaku Saitama 337-0043 JAPAN
Tel:
048-683-3434 Fax: 048-683-5042
URL: http//:www.tokitaseed.co.jp
E-mail: tokita@tokitaseed.co.jp
Mfg of seeds &
seedlings, vegetables, fruits, gardening tools & supplies
Kazo City
(Saitama) (Farm)
China, India,
Italy
IWAO TOKITA, PRES Tsutomu Tokita, ch
Masanori Takaya,
dir Hiroshi Yoshida, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 5,279 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
148 M
TREND STEADY WORTH Yen
1,283 M
STARTED 1947 EMPLOYES 90
MFR OF SEED &
SEEDLINGS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Tsutomu Tokita (now ch) in order
to make most of his experience in the subject line of business. Iwao is his son, who took the pres office in
Jul 2005. This is a specialized mfr of
seeds & seedlings, vegetables, fruits, gardening tools & supplies,
other. Operates a farmland in
Saitama-Pref. Goods are also imported
and exported. Three overseas offices
function as purchasing/selling business: China, India and Italy. Particularly stressing in sales &
production in China.
The sales volume for Apr/2013 fiscal term amounted to Yen 5,279 million,
a 2% up from Yen 5,191 million in the previous term. Exports to China & India continued
increasing. The recurring profit was
posted at Yen 259 million and the net profit at Yen 147 million, respectively,
compared with Yen 182 million recurring profit and Yen 105 million net profit,
respectively, a year ago. .
For the current term ending Apr 2014 the recurring profit is projected
at Yen 270 million and the net profit at Yen 150 million, respectively, on a 3%
rise in turnover, to Yen 5,450 million.
Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Nov
1947
Regd No.:
(Saitama-Minumaku) 005918
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 11.84 million shares
Issued: 2,961,000,000
shares
Sum: Yen 148 million
Major shareholders (%): Tsutomu Tokita
(8), Kirin Brewery Co (7), others
No. of shareholders: 56
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
seeds & seedlings, vegetables, fruits, gardening tools & supplies,
other (--100%)
Operates a farm in Saitama-Pref.
Clients: [Agricultural
cooperatives, makers, wholesalers, vegetable/flower markets] Zen-Noh, Cainz,
Berg Earth Co, Tokita Seed India, Kaneko Seeds, Nihon Nogyo Shizai, Takeuchi
Engei, other
Exports to: USA, China, Taiwan, India, other
S/E Asian countries, Europe, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Takii & Co, Sakata Seed Co, Marubeni Corp, Nippon Beet Sugar
Mfg, Okamoto Co, Achilles, Berg Earth Co, other
Payment record: No complaints
Location: Business area in
Saitama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG
(Omiya-Ekimae)
Saitama Resona
Bank (Omiya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/04/2014 |
30/04/2013 |
30/04/2012 |
30/04/2011 |
|
|
Annual
Sales |
|
5,450 |
5,279 |
5,191 |
4,990 |
|
Recur.
Profit |
|
270 |
259 |
182 |
131 |
|
Net
Profit |
|
150 |
147 |
105 |
69 |
|
Total
Assets |
|
|
4,339 |
4,154 |
4,072 |
|
Current
Assets |
|
|
3,106 |
2,934 |
2,817 |
|
Current
Liabs |
|
|
2,139 |
1,781 |
1,675 |
|
Net
Worth |
|
|
1,283 |
1,139 |
1,121 |
|
Capital,
Paid-Up |
|
|
148 |
148 |
148 |
|
Div.Ttl
in Million (¥) |
|
|
3.2 |
4.25 |
4.25 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.24 |
1.70 |
4.03 |
8.79 |
|
|
Current Ratio |
.. |
145.21 |
164.74 |
168.18 |
|
|
N.Worth Ratio |
.. |
29.57 |
27.42 |
27.53 |
|
|
R.Profit/Sales |
4.95 |
4.91 |
3.51 |
2.63 |
|
|
N.Profit/Sales |
2.75 |
2.78 |
2.02 |
1.38 |
|
|
Return On Equity |
.. |
11.46 |
9.22 |
6.16 |
|
Notes: Forecast
(or estimated) figures for the 30/04/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
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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 |
|
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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 |
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|
<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.