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Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TAIYO CORPORATION |
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Registered Office : |
Central Bldg 401, 7-12 Nihombashi-Kodenmacho Chuoku Tokyo 103-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
June, 1981 |
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Com. Reg. No.: |
(Chiba-Funabashi) 017889 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export, import of industrial precious metals, non-ferrous metals |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
TAIYO CORPORATION
REGD NAME: Taiyo Sangyo KK
MAIN OFFICE: Central Bldg 401,
7-12 Nihombashi-Kodenmacho Chuoku Tokyo 103-0001
JAPAN
Tel:
03-3661-1021
Fax: 03-3661-8903
*..
Registered at: 6-3-25 Fujiwara Funabashi Chiba-Pref
URL: N/A
Export, import of industrial precious metals, non-ferrous metals
Nil
HIROSHI KAMEDA, PRES
Yukiko Kameda, dir
Shun Ebihara, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 198 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
10 M
TREND SLOW WORTH Yen 198 M
STARTED 1981 EMPLOYES 3
TRADING FIRM SPECIALIZING IN PRECIOUS METALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established by Hiroshi Kameda in order to make
most of his experience in the subject line of business. This is a trading firm specializing in export
of industrial precious metals, nonferrous metals, electronics parts &
materials. Goods are exported to Hong
Kong, India, Korea, Taiwan, other.
Demand is increasing from these countries.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 198 million,
an 11% down from Yen 223 million in the previous term. Exports were hurt by the high Yen, decreasing
earnings in Yen terms. The net profit was
posted at Yen 2 million, compared with Yen 1 million a year ago.. .
For the current term ending Mar 2014 the net profit is projected at Yen
3 million, on a 6% rise in turnover, to Yen 210 million. Demand from overseas rising.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1981
Regd No.: (Chiba-Funabashi)
017889
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Hiroshi Kameda (90), and families
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Exports, imports and wholesales industrial precious metals
(40%), nonferrous metals (40%), electronics parts & materials (20%)
(Handling items): paradigm, platinum, palladium alloy rolling, zinc,
copper rolls, other
Clients: [Mfrs, wholesalers] Aron Denki Co, Mizuno Handy Harman Co,
Tokyo Maruzen Ind, Tokuriki-Honten Co, other.
Exports to Hong Kong, Korea, Taiwan, India, other.
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Toho Zinc Co, Asahi Chemical Research
Laboratory, Saito Electric Co, Tokuriki-Honten Co, Hokuriku Yoshinaka, Nippon
Tokushukan Mfg Co, other
Payment record: No complaints
Location: Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
MUFG
(Funabashi)
Asahi
Shinkin Bank (Toyoshimacho)
Relations:
Satisfactory
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual Sales |
|
210 |
198 |
223 |
378 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
|
3 |
2 |
1 |
9 |
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Total Assets |
|
|
89 |
N/A |
N/A |
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Net Worth |
|
|
198 |
197 |
188 |
|
Capital, Paid-Up |
|
|
10 |
10 |
10 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.06 |
-11.21 |
-41.01 |
84.39 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
222.47 |
.. |
.. |
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N.Profit/Sales |
1.43 |
1.01 |
0.45 |
2.38 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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.