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Report Date : |
22.04.2014 |
IDENTIFICATION DETAILS
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Name : |
TOYOTSU MATERIAL INC |
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Registered Office : |
Cross Court
Tower 12F, 4-4-10 Meieki Nakamuraku Nagoya 450-0002 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
May
1999 |
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Com. Reg. No.: |
1800-01-048098
(Nagoya-Nakamuraku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter
and wholesaler of Iron &
Steel Raw Materials, Nonferrous Metals Recycled Products (including Aluminum,
Copper, Nickel) & Recycled Evs
such as Electric Vehicles) |
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No of Employees : |
126 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
TOYOTSU MATERIAL INC
Toyotsu Material
KK
Cross Court Tower
12F, 4-4-10 Meieki Nakamuraku Nagoya 450-0002 JAPAN
Tel:
052-569-2227 Fax: 052-565-6070
*.. The firm moved to the caption address in Oct 2012 from the former as
given
URL: http://www.toyotsumaterial.co.jp (Under Construction)
E-Mail address: info@toyotsumaterial.co.jp
Importer, exporter
and wholesaler of Iron &
Steel Raw Materials, Nonferrous Metals Recycled Products (including Aluminum,
Copper, Nickel) & Recycled Evs
such as Electric Vehicles)
Tokyo,
Osaka, Fukuoka (3), Komaki, Sendai
KIYOSHI
YAMAKAWA, PRES Kozo Yoda,
mgn dir
Norio Kato, mgn dir Takuzo Shirai,
dir
Minoru Murata dir Hideki
Kondo, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 64,993 M
PAYMENTS No
Complaints CAPITAL Yen
100 M
TREND UP WORTH Yen 2,503 M
STARTED 1999 EMPLOYES 126
TRADING FIRM OWNED BY TOYOTA TSUSHO CORP.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a nonferrous metal
division separated from Toyota Tsusho Corp (See REGISTRATION). This is a
trading firm specializing in import, export and wholesale of iron & steel
raw materials, products & recycled metals.
For imports and exports the parent’s worldwide offices/subsidiaries are
fully utilized. Opened the Tokyo Office
in Apr 2013. Domestic clients include
major steel mills, wholesalers, other
The sales volume for Mar/2013 fiscal term amounted to Yen 64,993
million, a 6% up from Yen 61,531 million in the previous term. The recurring profit was posted at Yen 1,248
million and the net profit at Yen 759 million, respectively, compared with Yen
1,043 million recurring profit and Yen 608 million net profit, respectively, a
year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 1,400 million and the net profit at Yen 950 million, respectively, on an 8%
rise in turnover, to Yen 70,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1999
Regd No.: 1800-01-048098 (Nagoya-Nakamuraku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
800 shares
Issued: 200 shares
Sum: Yen 100 million
Major shareholders (%): Toyota Tsusho Corp* (100)
*.. Sole
trading house in the Toyota Group, Nagoya, founded 1948, listed Tokyo S/E, Capital Yen 64,936
million, sales Yen 6,304,354 million, operating profit Yen 115,876 million,
recurring profit Yen 124,814 million, net profit Yen 67,432 million, total
assets Yen 3,962,517 million, net worth Yen 920,872 million, employees 48,336,
pres Jun Karube
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales iron & steel raw materials (25%), their products & parts
(18%), nonferrous metals recycled products (aluminum, copper, nickel, other),
recycled EVs (electric vehicles) (35%), others (22%).
Osaka Office
(20%), Tokyo Office (8%)
Clients: [Mfrs,
wholesalers] Toyota Tsusho Corp, Toyota Motor group, Aichi Steel Corp, Kobe
Steel, Almine Co, Alinco Inc, Metal Do Co, Mitsubishi Electric, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyota Tsusho Corp, other
Payment record: No Complaints
Location:
Business area in Nagoya. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
· SMBC (Nagoya)
· MUFG (Nagoya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
70,000 |
64,993 |
61,531 |
61,585 |
|
Recur.
Profit |
|
1,400 |
1,248 |
1,043 |
995 |
|
Net
Profit |
|
950 |
759 |
608 |
541 |
|
Total
Assets |
|
|
12,963 |
10,967 |
10,470 |
|
Current
Assets |
|
|
12,608 |
10,715 |
10,255 |
|
Current
Liabs |
|
|
10,334 |
8,916 |
8,786 |
|
Net
Worth |
|
|
2,503 |
1,988 |
4,621 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
7.70 |
5.63 |
-0.09 |
36.82 |
|
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Current Ratio |
.. |
122.01 |
120.18 |
116.72 |
|
|
N.Worth Ratio |
.. |
19.31 |
18.13 |
44.14 |
|
|
R.Profit/Sales |
2.00 |
1.92 |
1.70 |
1.62 |
|
|
N.Profit/Sales |
1.36 |
1.17 |
0.99 |
0.88 |
|
|
Return On Equity |
.. |
30.32 |
30.58 |
11.71 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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 |
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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 |
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-- |
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.