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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
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Name : |
TAISHIN CO LTD |
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Registered Office : |
1-6-12 Kyobashi Chuoku Tokyo 104-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
July 1948 |
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Com. Reg. No.: |
(Tokyo-Chuoku) 049024 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer and wholesaler of grains, beans, dried fruits, nuts, bottled bamboo
shoots, wild vegetables, ready-to-serve food, jarred/canned confectionery,
confectionery ingredients, hat materials, clothing & sundry goods |
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No. of Employees : |
23 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but Correct |
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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 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
TAISHIN CO LTD
Taishin Jitsugyo
KK
1-6-12 Kyobashi
Chuoku Tokyo 104-0031 JAPAN
Tel:
03-5250-3950 Fax: 03-5250-8020
URL: http://www.taishin.gr.jp
E-Mail address: business@taishin.gr.jp
Import,
wholesale of grains, beans, other foodstuffs
Kobe
Taishin
Co (Hong Kong); Taishin Co (Thailand) (--subsidiaries)
Yao-Ting
Huan, ch
JAMES
BUNSEI HUANG, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,062 M
PAYMENTSSlow but Correct CAPITAL Yen 88 M
TREND STEADY WORTH Yen 1,900 M
STARTED 1948 EMPLOYES 23
TRADING FIRM SPECIALIZING IN FOODSTUFFS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1931 in Kobe by Wan-Chu
Huang, Chinese businessman, for importing panama hats from Taiwan, on his
account. Incorporated in 1948, he took
the pres office and started importing beans & other agricultural products
from mainland China. James Bunsei Ko (or Huang) took the pres office in 2001,
when the firm moved its headquarters to the caption address, Tokyo. This is a trading firm specializing in
importing grains, beans, dried fruits, nuts, processed foods, bottled-canned
foods, confectionery, fishery products, other.
Financials are only partially disclosed.
The sales volume for Mar/2013 fiscal term amounted to Yen 6,062 million,
a1%up from Yen 6,003 million in the previous term. The net profit was posted at Yen 8 million,
compared with Yen 52 million a year ago.
For the current term ending Mar 2014 the net profit is
projected at Yen 10 million, on a 4%rise in turnover, to Yen 6,250
million. Soybeans imports are
increasing.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Date Registered: Jul
1948
Regd No.: (Tokyo-Chuoku) 049024
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
5 million shares
Issued: 1,269,300 shares
Sum: Yen 88
million
Major shareholders (%):
James Bunsei Huang (54), Employees’ S/Holding Assn (23),
Toryu
Trading Co (23)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales
grains, beans, dried fruits, nuts, bottled bamboo shoots, wild vegetables,
ready-to-serve food, jarred/canned confectionery, confectionery ingredients,
hat materials, clothing & sundry goods, (--100%).
Clients: [Food
processors, food stores] Narita Shokuhin Kogyo, Maniha Shokuhin, Salad Cosmo,
Miyashita Shokuhin, Miyuki Shokuhin, Ohgiya Shokuhin Hambai, other.
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from China, Hong Kong, Taiwan, USA, UK, Myanmar, Europe,
S/E Asia, other, as listed above.
Payment record: Slow but
Correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Resona Bank (Tokyo-Chuo)
SMBC (Yaesudori)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
|
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
Annual
Sales |
|
6,300 |
6,062 |
6,003 |
5,460 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
10 |
8 |
52 |
9 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
1,900 |
1,893 |
1,857 |
|
Capital,
Paid-Up |
|
|
88 |
88 |
88 |
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Div.P.Share(¥) |
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|
|
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|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
3.93 |
0.98 |
9.95 |
8.05 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.16 |
0.13 |
0.87 |
0.16 |
|
Note: Financials
are only partially disclosed.
Forecast
(or estimated) for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
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.