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Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TETSUTANI &
CO LTD |
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|
|
Registered Office : |
Tetsutani Bldg, 2-2-2 Tokuichi Chuoku
Osaka 540-0025 |
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|
|
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 (Estimated) |
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Date of Incorporation : |
October 1941 |
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Com. Reg. No.: |
1200-01-084999 (Osaka-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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|
|
|
Line of Business : |
importer, exporter
and wholesaler of Industrial
Chemicals such as Inks, Ink Pigments, Paints, Resins, Additives, Pigments
& Measuring Instruments |
|
|
|
|
No of Employees : |
43 |
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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|
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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 – 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 |
TETSUTANI & CO LTD
KK Tetsutani
Tetsutani Bldg, 2-2-2
Tokuichi Chuoku Osaka 540-0025 JAPAN
Tel:
06-6941-9071 Fax: 06-6941-9755
URL: http://www.tetsutani.co.jp
E-Mail address: info@tetsutani.co.jp
importer, exporter
and wholesaler of Industrial
Chemicals such as Inks, Ink Pigments, Paints, Resins, Additives, Pigments &
Measuring Instruments
Tokyo
AKIRA
TETSUTANI, PRES Tsunemi Endo, s/mgn dir
Shinsuke
Fudamoto, mgn dir Hiroaki
Imazu, mgn dir
Kiyoshi
Tetsutani, dir Masahiro
Tetsutani, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,401 M
PAYMENTSNo Complaints CAPITAL Yen 14 M
TREND SLOW WORTH Yen 487 M
STARTED 1941 EMPLOYES 43
TRADING FIRM SPECIALIZING IN
INDUSTRIAL CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
This is an old trading firm founded in 1926 and was established in
1941. A trading firm specializing in
industrial chemicals; ink pigments, resins, inks, dyestuffs, additives,
measurement instruments, other. Clients
include paint makers, other.
The sales volume for Dec/2013 fiscal term amounted to Yen 7,401 million,
a 2% down from Yen 7,517 million in the
previous term. The recurring profit was
posted at Yen 118 million and the net profit at Yen 68 million, respectively,
compared with Yen 140 million recurring profit and Yen 70 million net profit,
respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 120 million and the net profit at
Yen 80 million, respectively, on a 3% rise in turnover, to Yen 7,650 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct 1941
Regd No.: 1200-01-084999 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
115,200 shares
Issued: 28,800 shares
Sum: Yen 14.4 million
Major shareholders (%): Tetsutani Bldg (39), Masahiro
Tetsutani (23), Akira Tetsutani (16), Hikaru Tetsutani (10)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading firm for
import, export and wholesale of industrial chemicals: inks, ink pigments,
paints, resins, additives, pigments, measuring instruments, other (--100%)
Clients: [Mfrs,
wholesalers] Nippon Paint, Kansai Paint, Dainippon Paints, AS Paint, Mikuni
Color Ltd, DIC Corp, Nippe Trading Co, Rock Paint, other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] BYK Japan (65%), Evonik Japan, Orion Co, Engineered Carbons, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned
and maintained satisfactorily.
Bank
References:
MUFG (Osaka-Chuo)
Kinki Osaka Bank (Tanimachi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
7,650 |
7,401 |
7,517 |
7,306 |
|
Recur.
Profit |
|
120 |
118 |
140 |
|
|
Net
Profit |
|
80 |
68 |
70 |
27 |
|
Total
Assets |
|
|
3,889 |
3,973 |
3,851 |
|
Current
Assets |
|
|
2,866 |
3,042 |
|
|
Current
Liabs |
|
|
1,090 |
1,245 |
|
|
Net
Worth |
|
|
487 |
419 |
349 |
|
Capital,
Paid-Up |
|
|
14 |
14 |
14 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.36 |
-1.54 |
2.89 |
0.12 |
|
|
Current Ratio |
.. |
262.94 |
244.34 |
.. |
|
|
N.Worth Ratio |
.. |
12.52 |
10.55 |
9.06 |
|
|
R.Profit/Sales |
1.57 |
1.59 |
1.86 |
.. |
|
|
N.Profit/Sales |
1.05 |
0.92 |
0.93 |
0.37 |
|
|
Return On Equity |
.. |
13.96 |
16.71 |
7.74 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
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.