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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TEIJIN FRONTIER CO LTD |
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Registered Office : |
Teijin Bldg, 1-6-7 Minami-Honmachi Chuoku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April 2001 |
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Com. Reg. No.: |
1200-01-067360 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
importer, exporter and wholesaler of yarns, textile materials, clothing products,
technical materials, industrial materials, automotive products, interior
products, resins, films, industrial products, packaging materials,
construction materials, synthetic leather, cleaning products, and various
machinery |
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No. of Employees : |
712 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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. 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.
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Source : CIA |
TEIJIN FRONTIER CO LTD
Teijin Frontier KK
Teijin Bldg, 1-6-7
Minami-Honmachi Chuoku Osaka 541-8540 JAPAN
Tel:
06-6266-8011
Fax: 06-6244-1217
URL: http://www.teijin-frontier.com
E-Mail address: (thru
the URL)
importer, exporter and wholesaler of yarns, textile materials, clothing products, technical
materials, industrial materials, automotive products, interior products,
resins, films, industrial products, packaging materials, construction
materials, synthetic leather, cleaning products, and various machinery
Tokyo, Nagoya,
Niigata, Fukui
Shanghai, Taipei,
Manila, Ho Chi Minh, Hanoi, Bangladesh
TETSUSHI TAKENAKA,
PRES Norimitsu Takahashi, v
pres
Hiroshi Suyama,
mgn dir Shinji
Nikko, mgn dir \
Mitsuo Fujimoto,
dir Kenichi
Nagakawa, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 185,670 M
PAYMENTS No
Complaints CAPITAL Yen
2,000 M
TREND UP WORTH Yen 25,917 M
STARTED 2001 EMPLOYES 712
TRADING FIRM SPECIALIZING IN TEXTILES & CLOTHING MATERIALS, OWNED BY
TEIJIN LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as NI Teijin
Shoji Co Ltd by the merger of Teijin Shoji Co Ltd and Nissho Iwai Apparel Co
Ltd. In Oct 2012, NI Teijin Shoji Co merged
apparel unit of Teijin Fibers Ltd to rename as captioned. This is a trading firm specializing in
importer, exporter and wholesaler of yarns,
textile materials, clothing products, technical materials, industrial
materials, automotive products, interior products, resins, films, industrial
products, packaging materials, construction materials, synthetic leather,
cleaning products, and various machinery.
Clients include apparel makers, textile mfrs, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 185,670
million, 1% down from Yen 188,049 million in the previous term. The recurring profit was posted at Yen 4,547
million and the net profit at Yen 3,262 million, respectively, compared with
Yen 5,611 million recurring profit and Yen 2,364 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 4,800 million and the net profit at Yen 3,500 million, respectively, on
a 9% rise in turnover, to Yen 201,500 million.
High-quality sportswear high,-quality men’s wears and automotive-related
textiles will fare well. .
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr
2001
Regd No.:
1200-01-067360 (Osaka-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 80 million shares
Issued: 20
million shares
Sum: Yen 2,000 million
Major
shareholders (%): Teijin Ltd* (100)
*.. Major synthetic fiber mfr, Osaka, founded 1918, listed Tokyo S/E,
capital Yen 70,816 million, sales Yen 745,712 million, operating profit Yen
12,357 million, recurring profit Yen 9,786 million, net profit Yen 29,130
million, total assets Yen 766,798 million, net worth Yen 275,195 million,
employees 16,311, pres Shigeo Ohyagi
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales textiles and other commodities (sales breakdown by groups): Textile & Apparel Division Group (58%):
textile raw materials, a wide range of clothing products, such as formal wear,
casual clothing, bed clothes, sports wear; Industrial
Textiles & Materials Div Group (36%): synthetic fiber products for automotive
industries, such as tire cord fibers, reinforced fibers for hose & belting,
air bag fibers; curtains, beddings; Plastics
& Industrial Products Group (6%): , synthetic resins, industrial
machinery & equipment, industrial chemicals
Overseas Sales Ratio
(16%) (Breakdown are all about)
Clients: [Mfrs,
wholesalers] Mizujin Co, Descente Ltd, Sangetsu Co, Nike Japan, AOKI, Caitac
International Inc, Yamato International, Adventure Corp, Baycrew’s Co, Aitoz
Co, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Teijin Ltd, Toray Ind, Century Techno Core Co, Asahi Kasei Fibers
Corp, Sakura Polymer Co, Takisada Nagoya, Unitika Ltd, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned by the parent, Teijin Ltd, and maintained satisfactorily.
Bank
References:
MUFG (Osaka)
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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201,500 |
185,670 |
188,049 |
184,704 |
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Recur. Profit |
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4,800 |
4,747 |
5,611 |
4,285 |
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Net Profit |
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3,500 |
3,262 |
2,364 |
1,840 |
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Total
Assets |
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87,218 |
73,476 |
67,537 |
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Current
Assets |
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70,534 |
62,499 |
58,261 |
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Current
Liabs |
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59,010 |
54,716 |
51,328 |
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Net
Worth |
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25,917 |
16,929 |
14,224 |
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Capital,
Paid-Up |
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2,000 |
2,000 |
2,000 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.53 |
-1.27 |
1.81 |
4.49 |
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Current Ratio |
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.. |
119.53 |
114.22 |
113.51 |
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N.Worth Ratio |
.. |
29.72 |
23.04 |
21.06 |
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R.Profit/Sales |
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2.38 |
2.56 |
2.98 |
2.32 |
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N.Profit/Sales |
1.74 |
1.76 |
1.26 |
1.00 |
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Return On Equity |
.. |
12.59 |
13.96 |
12.94 |
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Notes: Forecast
(or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
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UK Pound |
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
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.