|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TATSUNO CORPORATION |
|
|
|
|
Registered Office : |
2-12-13 Shibaura Minatoku Tokyo 108-8520 |
|
|
|
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Country : |
Japan |
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|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
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Date of Incorporation : |
March 1928 |
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|
|
|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Mfg equipment for petrol industry |
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|
|
|
No of Employees : |
1,132 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
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 |
TATSUNO
CORPORATION
KK Tatsuno
2-12-13 Shibaura Minatoku Tokyo 108-8520
JAPAN
Tel: 03-3452-6211 Fax: 03-3452-6125
E-Mail address: (thru the URL)
Mfg equipment for petrol industry
80 branch/offices nationwide
Korea, China, Thailand, India, Czech, Russia
(--affiliates)
Yokohama
HIROMICHI TATSUNO, PRES Akifumi Kanamori, mgn dir
Fujio Yokoo, mgn dir Takashi Tsuchiya, dir
Harutaka Nakayama, dir Toshio Hoshi, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 43,789 M
PAYMENTSREGULAR CAPITAL Yen 480 M
TREND UP WORTH Yen 21,715 M
STARTED 1928 EMPLOYES 1,132
MFR OF EQUIPMENT
FOR GAS STATIONS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company
was established by father of Hiromichi Tatsuno in order to make most of his
experience in the subject line of business.
This is a specialized mfr of equipment for the petrol industry: gas
station-related equipment, such as self service pumps, built-in pumps, level
gauges, OA equipment for gas stations, other.
World 3-ranked in gasoline meters and enjoys 60% market share in
Japan. Clients include oil refineries,
gas stations, other, nationwide
The sales volume
for Mar/2013 fiscal term amounted to Yen 43,789 million, a 69% up from Yen
25,983 million in the previous term.
This is attributed to the replacement of obsolete gas stations and
supply of upcoming new stations The
recurring profit was posted at Yen 2,959 million and the net profit at Yen
1,366 million, respectively, compared with Yen 1,141 million recurring profit
and Yen 617 million net profit, respectively, a year ago.
For the term that
ended Mar 2014 the recurring profit was projected at Yen 3,000 million and the
net profit at Yen 1,400 million, respectively, on a 5% rise in turnover, to Yen
45,900 million. Final results are yet to
be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date
Registered: Mar
1928
Legal
Status:
Limited
Company (Kabushiki Kaisha)
Authorized: 3.8 million shares
Issued:
960,000 shares
Sum:
Yen
480 million
Major shareholders (%): Shirogane
Estate (16.7), Hiryu (14.4), Employees’ S/Holding Assn (6.6), Hiromichi Tatsuno
(5.7), MK (5.1)
No.
of shareholders: 61
Nothing detrimental is known as to the
commercial morality of executives.
Activities: Manufactures and
constructs gas stations (55%), gasoline meters, and gas station-related
equipment (43%), OA equipment (3%).
Exports (12%)
(Mfg items): petrol dispensing
pumps, self service pumps, built-in pumps, LPG dispensers, tank level gauges,
torque converter oil changer, home lorry, lobe flow meter, safety loading arm,
automatic charge machines, POS systems, car washers, other
Clients: [Mfrs,
wholesalers] JX Nippon Oil & Metal Mining Corp, Showa Shell Sekiyu,
ExxonMobil, Idemitsu Kosan, Cosmo Oil, Kignus Oil, Taiyo Sekiyu, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toshiba Corp, NEC Corp, Bay-Tech Co, Yokohama Rubber, Ricoh Corp,
TED Co, other
Payment
record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank
References:
SMBC (Shimbashi)
Mizuho Bank (Shiba)
Relations: Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
45,900 |
43,789 |
25,983 |
20,933 |
|
Recur.
Profit |
|
3,000 |
2,959 |
1,141 |
-308 |
|
Net
Profit |
|
1,400 |
1,366 |
617 |
-2,908 |
|
Total
Assets |
|
|
41,255 |
31,606 |
29,326 |
|
Current
Assets |
|
|
24,139 |
16,236 |
14,356 |
|
Current
Liabs |
|
|
14,905 |
8,408 |
6,516 |
|
Net
Worth |
|
|
21,715 |
14,932 |
14,319 |
|
Capital,
Paid-Up |
|
|
480 |
480 |
480 |
|
Div.P.Share(¥) |
|
|
2.50 |
2.50 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.82 |
68.53 |
24.12 |
-22.62 |
|
|
Current Ratio |
|
.. |
161.95 |
193.10 |
220.32 |
|
N.Worth Ratio |
.. |
52.64 |
47.24 |
48.83 |
|
|
R.Profit/Sales |
|
6.54 |
6.76 |
4.39 |
-1.47 |
|
N.Profit/Sales |
3.05 |
3.12 |
2.37 |
-13.89 |
|
|
Return On Equity |
.. |
6.29 |
4.13 |
-20.31 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.52 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 83.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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.