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Report Date : |
16.12.2014 |
IDENTIFICATION DETAILS
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Name : |
TATSUNO CORPORATION |
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Registered Office : |
Tatsuno Minami-Honmachi Bldg., 2-2-9, Minami-Honmachi, Chuo-Ku, Osaka-Shi, Osaka pref. 541-0054 |
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Country : |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
04.05.1948 |
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Com. Reg. No.: |
1200-01-077462 ( |
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Legal Form : |
Private Company |
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Line of Business : |
Subject operates
through following divisions :- ·
Textile
Division Manufacturing and marketing garments such as uniforms, business wear, working wear, men’s suits, rain coats, underwear ·
Real
Estate Division Management of office buildings, condominiums, warehouses, parking
lots in and around ·
Materials
Divisions Marketing of materials for electric transmission such as cable supporters, pipes, concrete products ·
Overseas
Divisions Export and import of garments, textiles, machinery, tools, chemicals, construction equipment, cosmetics. Joint venture investment in real estate overseas. |
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No of Employees : |
124 ( Including 13 Non-Regular Workers) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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
Company name: TATSUNO CORPORATION
Name in local language: TATSUNO
K.K.
Office address: Tatsuno Minami-honmachi Bldg., 2-2-9,
Minami-honmachi, Chuo-ku, Osaka-shi,
Osaka
pref. 541-0054
Country: Japan
Office tel: 06-6263-2331
Office fax: 06-6263-7471
Website: www.tatuno.co.jp
Business
type: Trader/Service
Industry: Real estate leasing,
uniform
Established: May 4, 1948
Capital: Jp. 100,000,000 yen
Employees: 124 (Including 13 Non-Regular Workers)
Corporate formation: Private
Corporation No.: 1200-01-077462
(Osaka Legal Affairs Bureau)
Paid in capital : Jp.
100,000,000 yen
Number of authorized shares : 12,000,000
shares
Shares issued : 3,000,000
shares
Number of shareholder : 17
Name of shareholders
Number of shares (%)
--------------------------------------------------------------------------------------------------------------
Mr. Katsuhiko Tatsuno, President
495,078 shares (16.5)
Mr. Kohei Tatsuno 297,785 shares ( 9.9)
Mr. Teppei Tatsuno 297,784 shares ( 9.9)
Mr. Mitsuhiko Tatsuno, Director 254,500 shares ( 8.5)
Mr. Motonobu Tatsuno
236,385 shares ( 7.9)
--------------------------------------------------------------------------------------------------------------
Total
1,581,532 shares
(52.7)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Outer garments
Trading Electric materials
Manufacturing Uniforms
Service Real
estate leasing
President Mr. Katsuhiko Tatsuno
Nationality: Japan
Director Mr. Morihiko Tatsuno
Nationality: Japan
Nationality: Japan
Director Mr. Mitsuhiko Tatsuno
Nationality: Japan
Auditor Ms. Shigemi Tatsuno
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Katsuhiko Tatsuno
President and representative director
Born on in September 1941
Education: Graduated from The University of Tokyo in March 1964
Business career:
Apr. 1964:
Employed by the subject.
Dec. 1991:
Representative director and president of the subject.
Home address: 4-10-16, Minami-azabu, Minato-ku, Tokyo
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
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2010 |
12,634,577,000 |
1,041,000 |
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2011 |
13,296,788,000 |
889,566,000 |
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2012 |
12,985,085,000 |
1,060,894,000 |
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2013 |
13,281,582,000 |
1,083,205,000 |
|
2014 |
16,655,783,000 |
1,589,085,000 |
*Book Closing*
============
March 31st
*Financials*
==========
|
Balance Sheet |
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Unit: millions of JP yen |
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3/31/2012 |
3/31/2013 |
3/31/2014 |
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Current assets |
10,784 |
11,038 |
11,522 |
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Cash & deposits |
3,293 |
3,039 |
2,845 |
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Account receivables |
1,956 |
2,515 |
2,860 |
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Inventories |
608 |
624 |
1,030 |
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Others |
4,927 |
4,860 |
4,787 |
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Fixed assets |
58,408 |
57,338 |
56,842 |
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Tangible assets |
52,004 |
51,222 |
50,638 |
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Intangible assets |
252 |
248 |
247 |
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Investments & others |
6,150 |
5,868 |
5,956 |
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Total Assets |
69,192 |
68,377 |
68,364 |
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Current liabilities |
6,320 |
10,934 |
6,643 |
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Account payables |
1,373 |
1,605 |
1,578 |
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Short term loans |
1,331 |
1,473 |
1,491 |
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Long term loans due |
2,248 |
6,768 |
2,285 |
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Outstanding accounts |
97 |
12 |
2 |
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Outstanding taxes |
650 |
503 |
511 |
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Others |
621 |
573 |
776 |
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Fixed liabilities |
52,801 |
46,182 |
48,914 |
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Long term loans |
41,310 |
34,739 |
39,532 |
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Retirement benefits |
133 |
123 |
110 |
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Others |
11,358 |
11,320 |
9,272 |
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Total Net Assets |
10,070 |
11,260 |
12,806 |
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Paid up capital |
100 |
100 |
100 |
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Capital reserves |
245 |
245 |
245 |
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Retained earnings |
6,349 |
7,424 |
8,887 |
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Valuation & adjustment |
3,376 |
3,491 |
3,574 |
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Total Liabilities & Net
Assets |
69,192 |
68,377 |
68,364 |
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Income Statement |
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Unit : millions of JP yen |
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3/31/2012 |
3/31/2013 |
3/31/2014 |
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Sales |
12,985 |
13,281 |
16,655 |
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Cost of goods sold |
9,328 |
9,737 |
12,749 |
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Gross profit(loss) |
3,657 |
3,543 |
3,906 |
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Sales/administrative expenses |
1,184 |
1,171 |
1,174 |
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Operating profit(loss) |
2,472 |
2,371 |
2,731 |
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Non operating income |
189 |
425 |
470 |
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Non operating expenses |
734 |
739 |
610 |
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Ordinary profit(loss) |
1,927 |
2,057 |
2,591 |
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Special profits |
35 |
0 |
0 |
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Special losses |
542 |
252 |
7 |
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Pretax profit |
1,420 |
1,804 |
2,583 |
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Taxes & adjustment |
360 |
721 |
985 |
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Net profit |
1,060 |
1,083 |
1,598 |
Bank Name : Sumitomo Mitsui
Banking Corp.
Branch : Bingo-machi
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Senba
Bank Name : Mizuho Bank, Ltd.
Branch : Osaka
The subject is an Osaka-based time-honored firm, which originally
started with trading of garments, but now diversified into various business
spheres.
Currently running four major business segments.
Performance has been picking up thanks to boosted trading business of
garments recently.
A record high performance was posted for Mar. 2014 term.
The shareholders’ equity has been enhanced accordingly.
Negative factors are not observed in particular at present though w
weaker currency may be unfavorable.
Branch name: Tokyo business headquarters
Branch address: Nishi-shinbashi, Minato-ku, Tokyo
Branch tel: 03-3581-6611
Branch fax: 03-3580-3167
----------------------------------------------------------------------------------------------------
Branch name: Fukuoka sales office
Branch address: Hakata-ekimae, Hakata-ku, Fukuoka-shi
Branch tel: 092-451-9515
Branch fax: 092-451-9516
----------------------------------------------------------------------------------------------------
One overseas office in Milan, Italy
Subject operates
through following divisions :-
·
Textile
Division
Manufacturing and marketing garments such as uniforms, business wear, working wear, men’s suits, rain coats, underwear
·
Real
Estate Division
Management of office buildings, condominiums, warehouses, parking lots
in and around Osaka City. Development of real estate in Japan. Construction of
buildings, warehouses, condominiums, steel-framing houses
·
Materials
Divisions
Marketing of materials for electric transmission such as cable supporters, pipes, concrete products
·
Overseas
Divisions
Export and import of garments,
textiles, machinery, tools, chemicals, construction equipment, cosmetics. Joint
venture investment in real estate overseas.
*Address*
=========
Registered address is the same as the operational address.
Date Development
-----------------------------------------------------------------------------------------------
October 1934 Started business of trading garments in
Osaka.
May 4, 1948 Incorporated under the current name.
1956 Acquired “Nippon Concrete Kogyo Co., Ltd.”(now Nichico
Corp.)
1967 Started dealing with electric
materials.
2000 ISO14001 certified.
2002 ISO9001 certified.
May 2006 Opened an office in Milan, Italy.
August 2009 Relocated the head office to the current
address within Osaka City.
*Suppliers*
==========
Mitsui Bussan Inter Fashion Co., Ltd.
Kuraray Co., Ltd.
Nakahiro Corp.
Daido International Ltd.
Shimada Shoji Co., Ltd.
AGC Matex Co., Ltd.
Kurimoto Iron Works Co., Ltd.
Kubota C.I. Corp.
Global Alliance Inc.
Imports from European countries
*Customers*
==========
Haseko Corp.
Hitachi Systems Ltd.
Sumitomo Forestry Residential Co., Ltd.
Mitsui Bussan Inter Fashion Co., Ltd.
Isetan Mitsukoshi Ltd.
Nakahiro Corp.
Woolen Shokai Co., Ltd.
TEPCO (Tokyo Electric Power Co.)
J Power Systems Co., Ltd.
Company name: Nichico Corp.
Country: Japan
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Heisei Corp.
Country: Japan
Status: Subsidiary
----------------------------------------------------------------------------------------------------
Company name: Shanghai Tatsuno Trading Co., Ltd.
Country: China
Status: Subsidiary
*Subsidiaries & Affiliates*
=====================
As of March 31, 2014 the subject owns and controls a total of 11
subsidiaries and affiliates at home and abroad.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.65 |
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UK Pound |
1 |
Rs.98.53 |
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Euro |
1 |
Rs.78.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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 |
-- |
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.