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Report Date : |
09.06.2014 |
IDENTIFICATION DETAILS
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Name : |
TOMAN CORPORATION |
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Registered Office : |
Neue Zeit Bldg
5F, |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 (Estimated) |
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Date of Incorporation : |
January
1983 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is a trading house specializing in :- · exporting industrial machinery including wire processing machines & spare parts such as automatic wire-cutting & processing machines, bench top wire processing machines, wire harness set-up jig & conveyors as well as ecology products such as eco-oil savor – preventing degradation of edible/cooking oil through de-oxidation · manufacturing accessories such as pendants, charms, straps & crystal leather |
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No of Employees : |
11 |
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 |
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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 – 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 |
TOMAN CORPORATION
KK Toman
Corporation
Neue Zeit Bldg 5F,
Tel:
054-254-9600 Fax: 054-254-9630
URL: http://toman-c.co.jp
E-mail address: info@toman-c.co.jp
Subject is a trading house specializing in :-
· exporting industrial machinery including wire processing machines & spare parts such as automatic wire-cutting & processing machines, bench top wire processing machines, wire harness set-up jig & conveyors as well as ecology products such as eco-oil savor – preventing degradation of edible/cooking oil through de-oxidation
· manufacturing accessories such as pendants, charms, straps & crystal leather
Nil
HIDEHARU
FUJII, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,187 M
PAYMENTS Slow
But Correct CAPITAL Yen 10 M
TREND SLOW WORTH Yen 464 M
STARTED 1983 EMPLOYES 11
TRADING HOUSE SPECIALIZING IN WIRE PROCESSING MACHINES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hideharu Fujii in order to make most of his experience in the technical engineering. This is a trading house specializing in export of wire processing machines as a main, ecology products, other. Also manufactures pendants, straps, charms, other accessories for domestic sales. Goods are exported to Europe, S/E Asia, USA, Canada, etc. Goods are supplied from specialty electronics makers for exports.
The sales volume for Sept/2013 fiscal term amounted to Yen 1,187 million, a 5% down from Yen 1,264 million in the previous term. Exports decreased substantially because of a decline in demand and the appreciation of the Yen. The net profit was posted at Yen 34 million, compared with Yen 66 million a year ago. Financials are only partially disclosed as from the Sept/2013 fiscal term.
For the current term ending Sept 2014 the net profit is projected at Yen 40 million, on a 5% rise in turnover, to Yen 1,250 million. Weaker Yen may raise earnings in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1983
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued:
20,000 shares
Sum: Yen 10
million
Major shareholders (%):
Hideharu Fujii (90), Kozo Fujii and families (--10)
No. of
shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports industrial machinery: Wire processing machines & spare parts (automatic wire-cutting & processing machines, bench top wire processing machines, wire harness set-up jig & conveyors), ecology products (eco-oil savor – preventing degradation of edible/cooking oil through de-oxidation), other; manufactures accessories (pendants, charms, straps, crystal leather, other) (--100%)
Export destinations are Europe, USA, Canada, China, other S/E Asian countries.
Clients: Agent dealers in Europe, Asia, etc.
No. of accounts: Unavailable
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Kodera Electronics, Oriental Motor (ORIM Vexta), other.
Payment record: Slow But Correct
Location: Business area in Shizuoka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
Shizuoka Shinkin Bank (H/O)
MUFG (Shizuoka)
Relations: Satisfactory
(In Million Yen)
|
Terms
Ending: |
|
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
Annual
Sales |
|
1,250 |
1,187 |
1,254 |
1,531 |
|
Recur.
Profit |
|
.. |
.. |
140 |
153 |
|
Net
Profit |
|
40 |
34 |
66 |
60 |
|
Total
Assets |
|
|
N/A |
1,048 |
916 |
|
Net
Worth |
|
|
464 |
440 |
374 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.31 |
-5.34 |
-18.09 |
10.46 |
|
|
Current Ratio |
.. |
.. |
.. |
||
|
N.Worth Ratio |
.. |
41.98 |
40.83 |
||
|
N.Profit/Sales |
3.20 |
2.86 |
5.26 |
3.92 |
|
Notes: Financials are only partially disclosed as from the
Sept/2013 fiscal term.
Forecast (or estimated) figures for 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
UK Pound |
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.