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Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAJIMA INDUSTRIES LTD |
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|
|
Registered Office : |
Tajima Bldg,
3-19-22 Shirakabe Higashiku Nagoya 461-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May 1970 |
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Com. Reg. No.: |
1800-01-017306
(Nagoya-Higashiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
exporter and wholesaler
of “Tajima” brand multi-head electronic embroidery machines & related
equipment. |
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|
|
|
No. of Employees : |
70 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
TAJIMA INDUSTRIES LTD
Tajima Kogyo KK
Tajima Bldg,
3-19-22 Shirakabe Higashiku Nagoya 461-0011 JAPAN
Tel:
052-932-3811 Fax: 052-932-3899
URL: http://www.tajimac.com
E-Mail address: (thru the URL)
Export,
wholesale of multi-head electronic embroidery machines & equipment
Nagoya
(Division Office)
HITOSHI
TAJIMA, PRES
Kenji Tajima, v pres
Terutada
Kojima, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,391 M
PAYMENTSNo Complaints
CAPITAL Yen 65 M
TREND SLOW WORTH Yen 11,218 M
STARTED 1970 EMPLOYES 70
TRADING FIRM SPECIALIZING IN ELECTRONIC EMBROIDERY MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading division
separated from Tokai Industrial Sewing Machine Co Ltd (See REGISTRATION). Hitoshi
Tajima is concurrently pres at the parent.
This is a trading firm specializing in export and wholesale of “Tajima”
brand multi-head electronic embroidery machines & related equipment. Exports to China, S/E Asia, other. Domestic clients include major sewing machine
makers.
The sales volume for Feb/2013 fiscal term amounted to Yen 6,391 million,
a 19% down from Yen 7,899 million in the previous term. The operations came back to prosperity to
register Yen 566 million recurring profit and Yen 483 million net profit,
respectively, compared with Yen 287 million recurring loss and Yen 362 million
net loss, respectively, a yea ago.
For the current term ending Feb 2014 the recurring profit is projected
at Yen 600 milling and the net profit at Yen 500 million, respectively, on a 6%
rise in turnover, to Yen 6,750 million.
Weaker Yen may raise earnings in Yen terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May
1970
Regd No.: 1800-01-017306 (Nagoya-Higashiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
524,000 shares
Issued:
131,000 shares
Sum: Yen 65.5 million
Major shareholders (%): TIK Corp* (30), Hitoshi Tajima
(15), Employees’ S/Holding Assn (10)
No. of shareholders: 15
*.. Tokai Industrial Sewing Machine Co Ltd, Aichi-Pref, founded 1944,
mfr of embroidery machines, sewing machines, capital Yen 90 million, sales Yen
6,931 million, net losses Yen 820 million, employees 210, pres Hitoshi Tajima,
concurrently.
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports and
wholesales “Tajima” brand multi-head electronic embroidery machines &
related equipment (--100%)
Clients: [Mfrs,
wholesalers] Naka-Nihon Juki Co, Yokoyama Tokushu Machine Co, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Tokai Industrial Sewing Machine Co, Pulse Microsystems, other
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Chukyo
Bank (Daikancho)
MUFG
(Higashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
8,100 |
7,899 |
9,783 |
5,598 |
|
Recur.
Profit |
|
100 |
-287 |
-234 |
|
|
Net
Profit |
|
100 |
-362 |
-255 |
-444 |
|
Total
Assets |
|
|
12,150 |
12,893 |
N/A |
|
Current
Assets |
|
|
8,323 |
9,178 |
|
|
Current
Liabs |
|
|
1,973 |
1,769 |
|
|
Net
Worth |
|
|
10,748 |
11,124 |
11,379 |
|
Capital,
Paid-Up |
|
|
65 |
65 |
65 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.54 |
-19.26 |
74.76 |
-41.44 |
|
|
Current Ratio |
|
.. |
421.84 |
518.82 |
.. |
|
N.Worth Ratio |
.. |
88.46 |
86.28 |
.. |
|
|
R.Profit/Sales |
|
1.23 |
-3.63 |
-2.39 |
.. |
|
N.Profit/Sales |
1.23 |
-4.58 |
-2.61 |
-7.93 |
|
|
Return On Equity |
.. |
-3.37 |
-2.29 |
-3.90 |
|
Notes: Forecast (or estimated) figures for the
28/02/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
UK Pound |
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.