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Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYOSHIMA &
CO LTD |
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|
|
|
Registered Office : |
2-15-15 Nishiki Nakaku |
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|
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Country : |
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|
|
|
|
Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
June, 1918 |
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|
|
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Com. Reg. No.: |
(Aichi-Ichinomiya) 083272 |
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|
|
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Legal Form : |
Limited Company
(Kabushiki Kaisha) |
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|
|
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Line of Business : |
Import, Export and Wholesale of Textile Raw Materials, Yarns, Fabrics,
Products |
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|
|
|
No. of Employees : |
484 |
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 |
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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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 exceeds 200% of
GDP. Persistent deflation, reliance on exports to drive growth, and an aging
and shrinking population are other major long-term challenges for the economy.
|
Source
: CIA |
TOYOSHIMA & CO LTD
REGD NAME: Toyoshima
KK
MAIN OFFICE: 2-15-15
Nishiki Nakaku
Tel:
052-204-7711 Fax: 052-204-7425
*.. Registered at: 2-5-11 Sen’I Ichinomiya Aichi-Pref
URL: http://www.toyoshima.co.jp/
E-Mail address: webmaster@toyoshima.co.jp
Import,
export, wholesale of textile raw materials, yarns, fabrics, products
Tokyo,
Hamamatsu (Shizuoka), Ichinomiya
Jakarta,
Hong Kong, Milan, Los Angeles, Memphis, Shanghai
(Subsidiaries):
China (3), USA (Toyoshima USA Inc)
(JV’s):
China (2)
(Subcontracted)
HANSHICHI
TOYOSHIMA, PRES Toshihide Takatsuka,
s/mgn dir
Takashi Shimazaki, mgn dir Hiroshi Onoki, mgn dir
Mikihito Ojima, dir Katsuyuki
Yamada, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 182,510 M
PAYMENTSREGULAR CAPITAL Yen
3,000 M
TREND SLOW WORTH Yen 58,265 M
STARTED 1918 EMPLOYES 484
TRADING HOUSE SPECIALIZING IN TEXTILES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
This is a time-honored firm established on the basis of the old established firm, as Hanshichi Tyoshima Itoten, Aichi-Pref, founded in 1841 by Hanshichi Toyoshima, and has been succeeded the founder’s descendants. Hanshichi Toyoshima took the pres office in Sept 2002. This is a synthesizing wholesaler of textiles from wool, yarn, fabrics to clothing. Domestically placed 6th in the similar business line. Has two JV factories in China. Overseas subsidiaries are: China (2), USA (3). Clients are major textile mfrs, apparel chain stores, other, nationwide.
The sales volume for Jun/2013 fiscal term amounted to Yen 182,510 million, an 11% down from Yen 204,910 million in the previous term. The recurring profit was posted at Yen 6,045 million and the net profit at Yen 4,171 million, respectively, compared with Yen 6,784 million recurring profit and Yen 3,564 million net profit, respectively, a year ago.
For the current term ending Jun 2014 the recurring profit is projected at Yen 6,100 million and the net profit at Yen 4,200 million, respectively, on a 4% rise in turnover, to Yen 190,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 7,540.0 million, on 30 days normal terms.
Date Registered: Jun 1918
Regd No.: (Aichi-Ichinomiya)
083272
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 120 million shares
Issued: 30
million shares
Sum: Yen
3,000 million
Major shareholders (%): Employees’ S/Holding Assn
(30.9), Executives’ S/Holding Assn (14.7), Yumiko Toyoshima (8.6), Keiko
Toyoshima (7.4), Yuri Toyoshima (7.4), Chikako Uchida (7.4)
No. of shareholders: 14
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house for import, export and wholesale of textiles: cotton, wool, other textile raw materials (--18%), cotton yarn, woolen yarn, man-made fibers (-- 8%), cotton fabrics, woolen fabrics, synthetic fiber fabrics (--12%), clothing for men, women, children, other textile goods (--60%), machinery, industrial materials, other non-textile goods (--2%).
Goods are also imported and exported (Overseas trading ratio 13%).
Clients: [Textile mfrs, wholesalers, apparel stores] Kondo Bosekisho, Tsuzuki Spinning, Kanematsu Corp, Kowa Co, Kowa Spinning, Onward Kashiyama, Right On, Point Inc, Cross Plus Inc, F-Lead Co, Kurabo Ind, Yutaka Corp, other.
No. of accounts: 2,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kondo Bosekisho, Toray Ind, Kuraray, Teijin Ltd, Blue Mate, Daiwabo Co, Toyobo Co, Tsuzuki Spinning, other.
Imports from Toyoshima USA, China, other.
Payment record: Regular
Location: Business area in Nagoya. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG (Nagoya)
Mizuho Corporate Bank (Nagoya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2014 |
30/06/2013 |
30/06/2012 |
30/06/2011 |
|
|
Annual
Sales |
|
190,000 |
182,510 |
204,910 |
192,400 |
|
Recur.
Profit |
|
6,100 |
6,045 |
6,784 |
5,089 |
|
Net
Profit |
|
4,200 |
4,171 |
3,564 |
2,772 |
|
Total
Assets |
|
|
109,130 |
102,300 |
105,398 |
|
Current
Assets |
|
|
62,539 |
64,113 |
67,867 |
|
Current
Liabs |
|
|
45,910 |
49,195 |
54,666 |
|
Net
Worth |
|
|
58,265 |
49,576 |
46,583 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
40.00 |
40.00 |
28.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.10 |
-10.93 |
6.50 |
27.07 |
|
|
Current Ratio |
|
.. |
136.22 |
130.32 |
124.15 |
|
N.Worth Ratio |
.. |
53.39 |
48.46 |
44.20 |
|
|
R.Profit/Sales |
|
3.21 |
3.31 |
3.31 |
2.65 |
|
N.Profit/Sales |
2.21 |
2.29 |
1.74 |
1.44 |
|
|
Return On Equity |
.. |
7.16 |
7.19 |
5.95 |
|
Notes:
Forecast (or estimated) figures for the 30/06/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared by
: |
NIT |
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 |
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.