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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
TOA ELECTRIC INDUSTRIAL CO LTD |
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Registered Office : |
5-1-4 Sotokanda Chiyodaku Tokyo 101-0021 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
June 1947 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of electric equipment, optical products |
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No. of Employees : |
118 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 1,318.5 Million |
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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 |
|
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
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Source
: CIA |
TOA ELECTRIC
INDUSTRIAL CO LTD
REGD NAME: Toa Denki Kogyo KK
MAIN OFFICE: 5-1-4 Sotokanda Chiyodaku Tokyo 101-0021 JAPAN
Tel: 03-3834-0181
Fax: 03-3834-4526
URL: http://www.toadenki.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of electric equipment, optical products
Osaka, Akita, Sendai, other (Tot 17)
USA, China (9), Thailand (2), Singapore, Taiwan, Malaysia
KAZUO KOBAYASHI, PRE Yoichi Fukasaku, s/mgn dir
Kikuo Hinuma, mgn dir Akio Shigeta, mgn dir
Katsuhiro Harada, dir Hideo Hayashi dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 46,748 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 450 M
TREND SLOW WORTH Yen 8,335 M
STARTED 1947 EMPLOYES 118
TRADING FIRM SPECIALIZING IN ELECTRIC EWQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 1,318.5 MILLION, 30 DAYS NORMAL TERMS
The subject company is a trading firm specializing in import, export and wholesale of electric equipment, flat cables, adhesives, keypads, automotive products, connectors, other Has overseas offices in USA, China (9), Taiwan, Hong Kong, Germany, other. Clients include electric makers, auto makers, other.
The sales volume for Feb/2013 fiscal term amounted to Yen 46,748 million, a 6% down from Yen 49,895 million in the previous term. The recurring profit was posted at Yen 403 million and the net profit at Yen 248 million, respectively, compared with Yen 775 million recurring profit and Yen 329 million net profit, respectively, a year ago.
For the current term ending Feb 2014 the recurring profit is projected at Yen 410 million and the net profit at Yen 250 million, respectively, on a 3% rise in turnover, to Yen 48,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,318.5 million, on 30 days normal terms.
Date Registered: Jun 1947
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3.6 million shares
Issued: 9.01 million shares
Sum: Yen 450,687,000.-
Major shareholders (%): Employees’ S/Holding Assn (17.1), Kazuo Kobayashi (4.8), Yoichi Fukasaku (3.7), Kikuo inuema (3.2)
No. of shareholders: 256
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales electric equipment & parts] tubing, flat cables, adhesives, substrates & modules, keypads, automotive products, optical products, connectors, others (--100%)
Clients: [Mfrs, wholesalers] Denso Corp, Cannon Oita, Mitsubishi Electric, Panasonic Corp, Hitachi Living Supply, Nissan Motor, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sumitomo Electric Ind, Sumitomo 3M, Shin-Etsu Ind, Mitsubishi Shoji Chemical, other
Payment record: No complaints
Location: Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References: MUFG (Akihabara)
Resona Bank (Ueno)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
28/02/2014 |
28/02/2013 |
29/02/2012 |
28/02/2011 |
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Annual
Sales |
|
48,000 |
46,748 |
49,895 |
51,780 |
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Recur.
Profit |
|
410 |
403 |
775 |
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Net
Profit |
|
250 |
248 |
329 |
395 |
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Total
Assets |
|
|
22,933 |
24,724 |
25,180 |
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Current
Assets |
|
|
14,917 |
16,820 |
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Current
Liabs |
|
|
12,980 |
14,963 |
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Net
Worth |
|
|
8,335 |
8,042 |
7,838 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.P.Share(¥) |
|
|
77.50 |
77.50 |
64.60 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.68 |
-6.31 |
-3.64 |
20.11 |
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Current Ratio |
.. |
114.92 |
112.41 |
.. |
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N.Worth Ratio |
.. |
36.35 |
32.53 |
31.13 |
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R.Profit/Sales |
0.85 |
0.86 |
1.55 |
.. |
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N.Profit/Sales |
0.52 |
0.53 |
0.66 |
0.76 |
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Return On Equity |
.. |
2.98 |
4.09 |
5.04 |
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Notes: Forecast (or estimated) figures for the 28/02/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
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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.