MIRA INFORM REPORT

 

 

Report Date :

12.07.2014

 

IDENTIFICATION DETAILS

 

Name :

TANASAKA IRON WORKS LTD

 

 

Registered Office :

1-9-16 Nagasu Nishidori Amagasaki Hyogo-Pref 660-0807

 

 

Country :

Japan

 

 

Financials (as on) :

31.10.2014 (Estimated)

 

 

Date of Incorporation :

February 1947

 

 

Com. Reg. No.:

1400-01-049941 (Hyogo-Amagasaki)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturer of Industrial Machinery such as nail Making Machines, Thread Rolling Machine, Double Headers, Barbed Wire Machine, Wire Drawing Machine, Steel Sheet Corrugating Machine, Steel Sheet Continuous Galvanizing Line & Steel Sheet Continuous Color Coating Line

 

 

No of Employees :

29

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

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

 

 

 

Company name

 

TANASAKA IRON WORKS LTD

 

 

REGD NAME

 

KK Tanisaka Tekkosho

 

MAIN OFFICE

 

1-9-16 Nagasu Nishidori Amagasaki Hyogo-Pref 660-0807 JAPAN

 

Tel: 06-6401-3321      Fax: 06-6408-4100

 

URL:                 http://www.tanisaki.co.jp

E-Mail address:            tiw@tanisaki.co.jp

 

 

ACTIVITIES

 

Manufacturer of Industrial Machinery such as nail Making Machines, Thread Rolling Machine, Double Headers, Barbed Wire Machine, Wire Drawing Machine, Steel Sheet Corrugating Machine, Steel Sheet Continuous Galvanizing Line & Steel Sheet Continuous Color Coating Line

 

 

BRANCHES

 

Amagasaki

 

 

FACTORIES

 

At the caption address

 

 

OFFICERS

 

AKIHIKO TANISAKA, PRES       Jotaro Tanisaka, ch

Kazumi Tanisaka, dir      Masahiro Kawasaki, dir

                       

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY

 

FINANCES        FAIR                                         A/SALES          Yen 632 M

PAYMENTSSlow but Correct                     CAPITAL           Yen 39 M

TREND UP                                            WORTH            Yen 368 M      

STARTED         1947                                         EMPLOYES      29

 

 

COMMENT    

 

MFR OF INDUSTRIAL MACHINERY.

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

The subject company was established originally in 1928 for making wire manufacturing machines and was incorporated in 1947 and expanded mfg items to: machinery for secondary wire products, secondary steel products, other (See OPERATION).   Clients include machinery makers, wholesalers, other.  Goods are exported.

 

 

FINANCIAL INFORMATION

           

The sales volume for Oct/2013 fiscal term amounted to Yen 632 million, a 6% up from Yen 598 million in the previous term.  Due to material & cost ups the operations continued in the deficit to post Yen 18 million recurring loss and Yen 20 million net losses, respectively, compared with Yen 18 million recurring loss and Yen 267 million net profit, respectively, a year ago.

 

For the current term ending Oct 2014 the recurring profit is projected at Yen 20 million and the net profit at Yen 10 million, respectively, on a 3% rise in turnover, to Yen 650 million. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:       Feb 1947

Regd No.:                1400-01-049941 (Hyogo-Amagasaki)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         3.12 million shares

Issued:                780,000 shares

Sum:                   Yen 39 million

Major shareholders (%): Jotaro Tanisaka (32), other

No. of shareholders: 14

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures industrial machinery: nail making machines, thread rolling machine, double headers, barbed wire machine, wire drawing machine, steel sheet corrugating machine, steel sheet continuous galvanizing line, steel sheet continuous color coating line, other (--100%)

 

Clients: [Mfrs, wholesalers] Bans Group, Tokuhatsu Co, Newman Tech, Taiyo Enterprise, Yamahiro, other 

            No. of accounts: 300

            Domestic areas of activities: Centered in the greater-Osaka

 

Suppliers: [Mfrs, wholesalers] NTS, Daiichi Kogyosho, Fuji Electric Ind, other

 

Payment record: Slow but Correct

 

Location: Business area in Amagasaki, Hyogo-Pref.  Office premises at the caption address are owned and maintained satisfactory.

 

Bank References:

Resona Bank (Tsukaguchi)

SMBC (Amagasaki)

Relations: Satisfactory

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/10/2014

31/10/2013

31/10/2012

31/10/2011

Annual Sales

　

650

632

598

870

Recur. Profit

　

20

-18

-18

　

Net Profit

　

10

-20

267

-80

Total Assets

　

　

952

1,031

1,078

Current Assets

　

　

737

806

　

Current Liabs

　

　

447

472

　

Net Worth

　

　

368

389

121

Capital, Paid-Up

　

　

39

39

39

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.85

5.69

-31.26

35.94

    Current Ratio

 

..

164.88

170.76

..

    N.Worth Ratio

..

38.66

37.73

11.22

    R.Profit/Sales

 

3.08

-2.85

-3.01

..

    N.Profit/Sales

1.54

-3.16

44.65

-9.20

    Return On Equity

..

-5.43

68.64

-66.12

 

Notes: Forecast (or estimated) figures for the 31/10/2014 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.103.15

Euro

1

Rs.81.87

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.