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Report Date : |
03.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TSUBAKIMOTO BULK SYSTEMS CORPORATION |
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Registered Office : |
Ryokuchi-Eki Bldg 7F, 2-4-1 terauchi Toyonaka City Osaka 561-0872 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March, 1981 |
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Reg. No.: |
1209-01-024698 (Osaka-Toyonaa) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Mfg of bulk handling belt conveyors |
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No. of Employees : |
149 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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 |
TSUBAKIMOTO BULK SYSTEMS
CORPORATION
KK Tsubakimoto Bulk Systems
Ryokuchi-Eki Bldg 7F, 2-4-1 terauchi Toyonaka City Osaka 561-0872 JAPAN
Tel: 06-6862-2331 Fax: 06-6862-8241
URL: http://www.tsubakioto.jp
E-Mail address: net.bulk@tsubakimoto.jp
Mfg of bulk handling belt conveyors
Tokyo, Nagoya, Fukuoka, Hiroshima, Sapporo
China (2), Singapore
Hyogo
SATOSHI MATSUMIYA, PRES Jun’ichi
Osaki dir
Takahiro Noguchi, dir Kazutoshi
Nakamura, dir
Yasushi Nagai, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 6,063 M
PAYMENTS REGULAR CAPITAL Yen
150 M
TREND UP WORTH Yen 1,684 M
STARTED 1981 EMPLOYES 149
MFR OF BULK HANDLING BELT CONVEYORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Tsubakimoto Chain Co Ltd (See REGISTRATION). This is a specialized mfr of bulk handling
belt conveyors: automatic sort system, storage equipment, other. Products are exported.
The sales volume for Mar/2013 fiscal term amounted to Yen 6,063 million,
a 1% up from Yen 6,016 million in the previous term. The recurring profit was posted at Yen 438
million and the net profit at Yen 271 million, respectively, compared with Yen
294 million recurring profit and yen 157 million net profit, respectively, a
year ago.
For the current term ending Mae 2014 the recurring profit is projected
at Yen 440 million and the net profit at Yen 280 million, respectively, on a 5%
rise in turnover, to Yen 6350 million. .
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 1,684.0 million, on 30 days normal terms.
Date
Registered: Mar 1981
Regd
No.: 1209-01-024698
(Osaka-Toyonaa)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1.2 million shares
Issued:
300,000 shares
Sum:
Yen
150 million
Major
shareholders (%): Tsubakimoto Chain Co
Ltd* (100)
*.. Mfr of chains, conveyors, Osaka, founded 1941, listed Tokyo S/E,
capital Yen 17,076 million, sales Yen 150,002 million, operating profit Yen
12,579 million, recurring profit Yen 12,813 million, net profit Ye 7,428
million, total assets Yen 221,615 million, net worth Yen 110,916 million,
employees 6,953, pres Isamu Osa
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
bull handling systems: automatic sort systems, storage equipment, automatic
material handling system for newspaper printing, bulk & handling systems,
other (--100%)
Clients: [Mfrs,
wholesalers] Tsubakimoto Kogyo, Tsubakimoto Nishi-Nihon Tsubakimoto Machinery,
Nissin Engineering, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tsubakimoto Chain (20%), Yoshikawa Co, o Onishi Mfg, other
Payment record: No Complaints
Location: Business area in
Toyonaka, Osaka-Pref. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
SMBC (Osaka-Chuo)
Ikeda Senshu Bank (Ryokuchi-Koen)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual Sales |
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6,350 |
6,063 |
6,016 |
5,316 |
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Recur. Profit |
|
440 |
438 |
294 |
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Net Profit |
|
280 |
271 |
157 |
156 |
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Total Assets |
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|
4,072 |
4,252 |
3,615 |
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Current Assets |
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|
3,368 |
3,704 |
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Current Liabs |
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2,123 |
2,505 |
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Net Worth |
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1,684 |
1,455 |
1,346 |
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Capital, Paid-Up |
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|
150 |
150 |
150 |
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Div.Ttl in Million (¥) |
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47.1 |
40 |
43.5 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.73 |
0.78 |
13.17 |
-7.39 |
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Current Ratio |
|
.. |
158.64 |
147.86 |
.. |
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N.Worth Ratio |
.. |
41.36 |
34.22 |
37.23 |
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R.Profit/Sales |
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6.93 |
7.22 |
4.89 |
.. |
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N.Profit/Sales |
4.41 |
4.47 |
2.61 |
2.93 |
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Return On Equity |
.. |
16.09 |
10.79 |
11.59 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
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|
1 |
Rs.102.95 |
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Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.