MIRA INFORM REPORT

 

 

Report Date :

02.08.2014

 

IDENTIFICATION DETAILS

 

Name :

TAKISADA-NAGOYA CO LTD 

 

 

Registered Office :

2-13-19 Nishiki Nakaku Nagoya 460-0003

 

 

Country :

Japan

 

 

Financials (as on) :

31.01.2014

 

 

Date of Incorporation :

December 1940

 

 

Com. Reg. No.:

1800-01-037794 (Nagoya-Nakaku)

 

 

Legal Form :

Limited Company (Kabushiki Kaisha)

 

 

Line of Business :

Importer, Exporter and wholesaler of fabrics for Men’s & Women’s Clothing, Women’s Apparel & Accessories, Casual Wear, Night Clothes, Bedding & Interior Accessories & Fibro-Materials

 

 

No of Employees :

545

 

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

 

Maximum Credit Limit :

Yen 2,220.3 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints 

 

 

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

 

Company name

 

TAKISADA-NAGOYA CO LTD

 

 

REGD NAME

 

Takisada Nagoya KK

 

 

MAIN OFFICE

 

2-13-19 Nishiki Nakaku Nagoya 460-0003 JAPAN

 

Tel: 052-201-7331     Fax: 052-201-0925

 

URL:                 www.takisada-nagoya.jp 

E-mail:             info@takisada-nagoya.jp              

 

 

ACTIVITIES  

 

Import, export, wholesale of textiles, garments

 

 

BRANCHES   

 

Tokyo, Osaka, Gifu

 

 

OVERSEAS

 

Shanghai

 

 

OFFICER(S)

 

MASAYUKI TAKI, PRES                        Masaharu Iwata, mgn dir

Satoshi Hasegawa, mgn dir                    Jun’ichi Yamada, mgn dir

Kentaro Taki, dir                                    Keisuke Suzuki, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                                         A/SALES          Yen 58,282 M

PAYMENTSNo Complaints                CAPITAL           Yen 1,500 M

TREND UP                                            WORTH            Yen 25,664 M

STARTED         1940                                         EMPLOYES      545

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN TEXTILES 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

MAX CREDIT LIMIT: YEN 2,220.3 MILLION, 30 DAYS NORMAL TERMS

 

 

HIGHLIGHTS

           

This is an old-established trading firm founded originally in 1906 by the Taki family and was incorporated in 1940.  The firm was divided into two firms in 2001: Takisada-Nagoya Co and Takisada-Osaka Co to cover each territory.  A trading firm specializing in import and export of textiles, garments, and accessories.  Exports to: USA, Europe, China, S/E Asia, Korea, Taiwan, other.

 

 

FINANCIAL INFORMATION

 

The sales volume for Jan/2014 fiscal term amounted to Yen 58,282 million, an 11% up from Yen 52,598 million in the previous term.  The weaker Yen contributed to raise export/import earnings in Yen terms.  The recurring profit was posted at Yen 1,471 million and the net profit at Yen 635 million, respectively, compared with Yen 1,137 million recurring profit and Yen 429 million net profit, respectively, a year ago.  .

 

For the current term ending Jan 2015 the recurring profit is projected at Yen 1,600 million and the net profit at Yen 700 million, respectively, on a 6% rise in turnover, to Yen 61,500 million.

           

The financial situation is considered FAIR to GOOD and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 2,220.3 million, on 30 days normal terms.

 

 

REGISTRATION

 

Date Registered:             Dec 1940

Regd No.:            1800-01-037794 (Nagoya-Nakaku)

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　12 million shares

Issued:             　3 million shares

Sum:                　Yen 1,500 million

Major shareholders (%): Masayuki Takisada, Employees’ S/Holding Assn, Taki families, other (--100)

No. of shareholders: 92

 

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

 

 

OPERATION

 

Activities: Imports, exports and wholesales fabrics for men’s & women’s clothing, women’s apparel & accessories, casual wear, night clothes, bedding & interior accessories, fibro-materials, others (--100%).

 

(Sales Breakdown): Materials for men’s & women’s wears, other (58.5%), suits, knit wear, casual wear, sleep wear, bed linens, children’s wear, other (41.5%)

 

Clients: Apparel makers, chain stores, supermarkets, department stores, other

            No. of accounts: 1,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Marubeni Corp, Nijiaxiang, Sunnic, Toray, other

 

Payment record: No Complaints 

 

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

 

Bank References:

MUFG (Nagoya)

SMBC (Nagoya)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/01/2015

31/01/2014

31/01/2013

31/01/2012

Annual Sales

　

61,500

58,282

52,598

48,121

Recur. Profit

　

1,600

1,471

1,137

770

Net Profit

　

700

635

429

734

Total Assets

　

　

52,902

46,131

45,465

Current Assets

　

　

35,364

30,172

　

Current Liabs

　

　

24,833

19,773

　

Net Worth

　

　

25,664

24,548

23,461

Capital, Paid-Up

　

　

1,500

1,500

1,500

Div.P.Share(¥)

　

　

15.00

15.00

10.00

<Analytical Data>

　

(%)

(%)

(%)

(%)

    S.Growth Rate

　

5.52

10.81

9.30

12.22

    Current Ratio

　

..

142.41

152.59

..

    N.Worth Ratio

　

..

48.51

53.21

51.60

    R.Profit/Sales

　

2.60

2.52

2.16

1.60

    N.Profit/Sales

　

1.14

1.09

0.82

1.53

    Return On Equity

　

..

2.47

1.75

3.13

 

Notes: Financials are only partially disclosed for the 31/01/2015 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.85

UK Pound

1

Rs.102.69

Euro

1

Rs.81.46

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MNL

 

 

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.