|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOKAI RIKA CREATE CORPORATION |
|
|
|
|
Registered Office : |
2-3-10 Aoi Higashiku Nagoya 461-0004 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
July 1960 |
|
|
|
|
Com. Reg. No.: |
1800-01-031571 (Nagoya-Higashiku) |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
importer, exporter and wholesaler of
construction/agricultural vehicle components, automobile components &
accessories, electronic devices, OA devices, resin & nonferrous metal
materials, industrial machineries & equipment & housing equipment
components |
|
|
|
|
No. of Employees : |
119 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
TOKAI RIKA CREATE CORPORATION
KK Tokai Rika
Create
2-3-10 Aoi
Higashiku Nagoya 461-0004 JAPAN
Tel:
052-934-2111 Fax: 052-934-2101
URL: http://www.torica.co.jp
E-Mail address: mail@torica.co.jp
Import,
export, wholesale of construction/agricultural vehicle components
Aichi
(2)
China
(2), Thailand, Indonesia, India
Aichi
(warehouse)
NOBORU
YOSHIDA, PRES Hiroyasu
Nakashima, v pres
Kazuhiko
Nishiwaki, s/mgn dir Katsuyoshi
Asano, mgn dir
Nobuyoshi
Mizutani, mgn dir Masahisa
Naruse, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 24,949 M
PAYMENTSNo Complaints
CAPITAL Yen 175 M
TREND UP WORTH Yen 6,450 M
STARTED 1960 EMPLOYES 119
TRADING FIRM SPECIALIZING IN AUTOMOTIVE COMPONENTS
FINANCIAL SITUATION CONSIDERED
IMFAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by on the basis of a trading
division separated from Tokai Rika Co Ltd (See REGISTRATION). This is a
trading firm for import, export and wholesale of construction/agricultural
vehicle components automotive components.
40% of the products go to the parent, Tokai Rika Co.
The sales volume for Mar/2013 fiscal term amounted to Yen 24,949
million, a 7% up from Yen 23,309 million in the previous term. The recurring profit was posted at Yen 804
million and the net profit at Yen 480 million, respectively, compared with Yen
1,061 million recurring profit and yen 596 million net profit, respectively, a
year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 850 million and the net profit at Yen 500 million, respectively, on a 4%
rise in turnover, to Yen 26,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jul
1960
Regd No.: 1800-01-031571 (Nagoya-Higashiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.4 million shares
Issued:
350,000 shares
Sum: Yen 175 million
Major shareholders (%): Tokai Rika Co (15), Employees’
S/Holding Assn (9), Tokai Rika Service (6)
No. of shareholders: 35
(about)
*.. Tokai Rika Co, automobile parts producer, Aichi, founded 1948,
listed Tokyo S/E, capital Yen 22,856 million, sales Yen 371,932 million,
operating profit Yen 23,238 million, recurring profit Yen 24,505 million, net
profit Yen 5,187 million, total assets Yen 311,695 million, net worth Yen
179,882 million, employees 16,494, pres Yuzo Ushiyama
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of: construction/agricultural vehicle components,
automobile components & accessories, electronic devices, OA devices, resin
& nonferrous metal materials, industrial machineries & equipment,
housing equipment components, others (--100%)
Clients: [Mfrs,
wholesalers] Tokai Rika Co (40%), LIXIL, Kubota Corp, Denso Sales, Thai Torica,
Kobelco Construction Materials, others
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] \techno Polymer (10%), Tokai Rika Co, Asahi Kasei Chemicals,
Toray, NNP, Toyota Tsusho 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-Ekimae)
SMBC (Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
26,000 |
24,949 |
23,309 |
25,475 |
|
Recur.
Profit |
|
850 |
804 |
1,061 |
|
|
Net
Profit |
|
500 |
480 |
596 |
425 |
|
Total
Assets |
|
|
14,945 |
13,971 |
13,115 |
|
Current
Assets |
|
|
12,956 |
12,094 |
|
|
Current
Liabs |
|
|
8,113 |
7,539 |
|
|
Net
Worth |
|
|
6,450 |
6,025 |
5,585 |
|
Capital,
Paid-Up |
|
|
175 |
175 |
175 |
|
Div.P.Share(¥) |
|
|
44.00 |
44.00 |
33.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.21 |
7.04 |
-8.50 |
7.13 |
|
|
Current Ratio |
|
.. |
159.69 |
160.42 |
.. |
|
N.Worth Ratio |
.. |
43.16 |
43.13 |
42.58 |
|
|
R.Profit/Sales |
|
3.27 |
3.22 |
4.55 |
.. |
|
N.Profit/Sales |
1.92 |
1.92 |
2.56 |
1.67 |
|
|
Return On Equity |
.. |
7.44 |
9.89 |
7.61 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
UK Pound |
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
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.