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Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
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Name : |
TSN JAPAN CO LTD |
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Registered Office : |
Shoei Manson 105, 4-21-22 Ogikubo Suginamiku |
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Country : |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
Sept 1998 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of scientific instruments, medical
instruments. |
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No. of Employees |
03 |
RATING & COMMENTS
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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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Maximum Credit Limit : |
Yen 2.1 Million |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 |
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
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Source
: CIA |
TSN JAPAN CO LTD
REGD NAME: KK TSN Japan
MAIN OFFICE: Shoei Manson 105, 4-21-22 Ogikubo Suginamiku Tokyo 167-0051 JAPAN
Tel: 03-5347-7588
Fax: 03-5347-7590
URL: http://www.tsn-j.com
E-Mail address: (thru the URL)
Import, wholesale of scientific instruments, medical instruments, other
Nil
NAOTOKU ITO, PRES
Naomichi Ito, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 115 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 21 M
STARTED 1998 EMPLOYES 3
TRADING FIRM SPECIALIZING IN SCIENTIFIC & MEDICAL INSTRUMENTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODRATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED AT YEN 2.1 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established by Naotoku Ito in order to make most of his experience in the subject line of business. This is a family-based trading firm specializing in import and wholesale of scientific & medical instruments, other. Clients include university hospitals, medical institutions, other.
Financials are disclosed only partially.
The sales volume for Jun/2013 fiscal term amounted to Yen 115 million, a shade up from Yen 114 million in the previous term. The net profit was posted at Yen 1 million, similarly in the previous term.
For the term that ended Jun 2014 the net profit was projected at Yen 3 million, on a 4% rise in turnover, to Yen 120 million. Final results are yet to be released.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 2.1 million, on 30 days normal terms.
Date Registered: Sept 1998
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Naotoku Ito and families (--100)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales scientific & medical instruments, others (--100%)
Clients: University hospitals, medical institutions other
No. of accounts: 150
Domestic areas of activities: Centered in the greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from US, Europe, other
Payment record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactory.
Bank References:
MUFG (Ogikubo)
Relations: Money deposits and transfers only
(In Million Yen)
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Terms Ending: |
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30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
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Annual
Sales |
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120 |
115 |
114 |
115 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
3 |
1 |
1 |
1 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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21 |
20 |
19 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.35 |
0.88 |
-0.87 |
1.77 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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2.50 |
0.87 |
0.88 |
0.87 |
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.56 |
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|
1 |
Rs.103.50 |
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Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
-- |
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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.