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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOA ELECTRIC
INDUSTRIAL CO LTD |
|
|
|
|
Registered Office : |
5-1-4 Sotokanda Chiyodaku Tokyo 101-0021 |
|
|
|
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Country : |
Japan |
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|
|
Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
17.06.1947 |
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Legal Form : |
Limited Company |
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Line of Business : |
Importer, exporter and wholesaler of Electric Equipment
& Parts, Tubing, Flat Cables, Adhesives, Substrates & Modules,
Keypads, Automotive Products, Optical Products as well as Connectors |
|
|
|
|
No of Employees : |
297 |
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 |
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Payment Behaviour : |
No Complaints |
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|
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his government's
top priority; he has overturned his predecessor's plan to permanently close
nuclear power plants and is pursuing an economic revitalization agenda of
fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans
Pacific Partnership negotiations in 2013, a pact that would open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise
government revenue and reduce public debt, Japan decided in 2013 to gradually
increase the consumption tax to a total of 10% by the year 2015. Japan is
making progress on ending deflation due to a weaker yen and higher energy
costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source : CIA |
TOA ELECTRIC INDUSTRIAL CO LTD
Toa Denki Kogyo KK
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)
Importer, exporter
and wholesaler of Electric
Equipment & Parts, Tubing, Flat Cables, Adhesives, Substrates &
Modules, Keypads, Automotive Products, Optical Products as well as Connectors
Osaka,
Akita, Sendai, other (Tot 18)
USA, China
(9), Thailand (2), Singapore, Taiwan (3), Malaysia, Indonesia
China
(4), Thailand, Malaysia (-- subcontracted factories), and subsidiaries
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 44,299 M
PAYMENTSNo Complaints CAPITAL Yen
450 M
TREND SLOW WORTH Yen 8,793 M
STARTED 1947 EMPLOYES 297
TRADING FIRM SPECIALIZING IN ELECTRIC EWQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company is a trading firm, with mfg division, specializing in import, export and wholesale of electric equipment, flat cables, adhesives, keypads, automotive products, connectors. Has overseas offices in USA, China (9), Taiwan, Hong Kong, Germany, other. Production bases (OEM) in overseas: China (4), Thailand, and Malaysia. Clients include electric makers, auto makers, other.
The sales volume for Feb/2014 fiscal term amounted to Yen 44,299 million, a 5% down from Yen 46,748 million in the previous term. The recurring profit was posted at Yen 786 million and the net profit at Yen 417 million, respectively, compared with Yen 403 million recurring profit and Yen 248 million net profit, respectively, a year ago.
For the current term ending Feb 2015 the recurring profit is projected at Yen 800 million and the net profit at Yen 430 million, respectively, on a 3% rise in turnover, to Yen 45,600 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: 17 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 Hinuma (3.2), Hideo Hayashi (3.0)
No. of
shareholders: 249
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, Yazaki Corp, other
No. of
accounts: 350
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Sumitomo Electric Ind, Sumitomo 3M, Shin-Etsu Ind,
Mitsubishi Shoji Chemical, Junkosha Inc, Kurabe Industrial, other
Imports from subcontracted mfrs in China, Thailand and
Malaysia
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)
|
Terms Ending: |
28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
|
|
Annual
Sales |
|
45,600 |
44,299 |
46,748 |
49,895 |
|
Recur.
Profit |
|
800 |
786 |
403 |
775 |
|
Net
Profit |
|
430 |
417 |
248 |
329 |
|
Total
Assets |
|
|
24,806 |
22,933 |
24,724 |
|
Current
Assets |
|
|
17,042 |
14,917 |
16,820 |
|
Current
Liabs |
|
|
14,610 |
14,917 |
14,963 |
|
Net
Worth |
|
|
8,793 |
8,335 |
8,042 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.P.Share(¥) |
|
|
15.00 |
15.00 |
15.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.94 |
-5.24 |
-6.31 |
-3.64 |
|
|
Current Ratio |
.. |
116.65 |
100.00 |
112.41 |
|
|
N.Worth Ratio |
.. |
35.45 |
36.35 |
32.53 |
|
|
R.Profit/Sales |
1.75 |
1.77 |
0.86 |
1.55 |
|
|
N.Profit/Sales |
0.94 |
0.94 |
0.53 |
0.66 |
|
|
Return On Equity |
.. |
4.74 |
2.98 |
4.09 |
|
Notes:
Forecast (or estimated) figures for the 28/02/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
UK Pound |
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.