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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
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Name : |
TOHO TECHNOLOGY CORPORATION |
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Registered Office : |
3-10-22 Sakae Nakaku |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March 1967 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of industrial electronics including printed circuit
boards, electro-mechanical assemblies, film thickness gauges, stress
measurement systems, & flat panel
profilers |
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No. of Employees : |
317 |
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 – 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 |
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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.
|
Source : CIA |
TOHO TECHNOLOGY CORPORATION
Toho Technology KK
3-10-22 Sakae
Nakaku Nagoya 450-0008 JAPAN
Tel:
052-251-7211 Fax: 052-251-3646
URL: http://www.toho-tec.co.jp
E-Mail address: info@toho-tec.co.jp
Mfg of
industrial electronics, printed circuit board, other
Tokyo, Toyoda, Ogaki
USA,
China (3), Korea, Taiwan, Indonesia19,889
Inazawa
(Aichi); Shanghai
HEDEYUKI
TOMITA, PRES Kazuo Tomita, ch
Noboru
Hayakawa, v pres G Chang, s/mgn
dir
Yasuo Watanabe, s/mgn dir Hiromi Yamazaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 19,889 M
PAYMENTSNo Complaints
CAPITAL Yen 430 M
TREND SLOW WORTH Yen 8,807 M
STARTED 1967 EMPLOYES 317
MFR OF INDUSTRIAL ELECTRONICS EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1932 by a certain Tomita
for mfg automatic control panels, on his account, and was incorporated in 1967
and has been succeeded by his descendants.
Hideyuki Tomita took the pres office in Jan 2001. Owned and operated by the Tomita family, the
firm specializes in mfg electronic devices and clean systems. 80% of the goods are produced on an OEM
basis. In 2005, acquired FPD business
division from Nano Metrics Inc (USA) and started mfg film thickness
gauges. The subject is the agent dealer
in the greater-Nagoya district for Hitachi Ltd & group firms. In 2011, opened an office in Korea &
Taiwan and additional offices in China.
Clients include electric powers, electronics mfrs, automobile makers,
other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 19,889
million, a 7% down from Yen 21,378 million in the previous term. The recurring profit was posted at Yen 491
million and the net profit at Yen 305 million, compared with Yen 740 million recurring
profit and Yen 275 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 500 million and the net profit at Yen 315 million, respectively, on a 5%
rise in turnover, to Yen 20,800 million.
Sales are seen growing steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1967
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
3.44 million shares
Issued:
860,000 shares
Sum: Yen 430 million
Major shareholders (%): KK Tomita Kigyo* (44), Hideyuki
Tomita (13), Employees’ Shareholding Assn (11), Kazuo Tomita (11)
*.. Holding company
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufacture
industrial electronics: printed circuit boards, electro-mechanical assemblies,
film thickness gauges, stress measurement systems & flat panel profilers (--100%).
80% of the products are mfr’d on an OEM basis.
Clients: [Mfrs,
wholesalers] Sharp Corp, Nano Metrics Japan, Panasonic LED Display, Hitachi
Ltd, Chubu Electric Power, Mimasu Semiconductor Ind, BOE, Nippon Glass Corp,
Toyoda Gosei Co, BOE, Toyota Motors, Nano Metrics USA, Panasonic Corp, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Ltd, Hitachi Industrial Equipment Systems Corp, Hitachi
Building Systems, Hitachi Plant Technology Co, Shin Meiwa Ind, Hitachi
Mitsubishi Hydro Corp, other
Payment record: No Complaints
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Nagoya)
Bank of Nagoya (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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20,800 |
19,889 |
21,378 |
20,261 |
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Recur.
Profit |
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500 |
491 |
740 |
802 |
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Net Profit |
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315 |
305 |
275 |
393 |
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Total
Assets |
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15,158 |
15,029 |
14,272 |
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Current
Assets |
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12,039 |
12,054 |
11,354 |
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Current
Liabs |
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4,216 |
4,526 |
4,312 |
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Net
Worth |
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8,807 |
8,543 |
8,308 |
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Capital,
Paid-Up |
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|
430 |
430 |
430 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.58 |
-6.97 |
5.51 |
10.31 |
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Current Ratio |
|
.. |
285.56 |
266.33 |
263.31 |
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N.Worth Ratio |
.. |
58.10 |
56.84 |
58.21 |
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R.Profit/Sales |
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2.40 |
2.47 |
3.46 |
3.96 |
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N.Profit/Sales |
1.51 |
1.53 |
1.29 |
1.94 |
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Return On Equity |
.. |
3.46 |
3.22 |
4.73 |
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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 |
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US Dollar |
1 |
Rs.62.33 |
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UK Pound |
1 |
Rs.101.99 |
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Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.