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Report Date : |
14.06.2014 |
IDENTIFICATION DETAILS
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Name : |
TANI ELECTRICAL MACHINERY CO LTD |
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Registered Office : |
3-2-1 Hakozaki-Futo Higashiku Fukuoka 812-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
January, 1920 |
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Com. Reg. No.: |
2300-01-003488 (Fukuoka-Higashiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of electrical machinery & equipment |
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No. of Employees : |
43 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 |
TANI ELECTRICAL
MACHINERY CO LTD
REGD NAME: Tani Kiden Kogyo KK
MAIN OFFICE: 3-2-1 Hakozaki-Futo Higashiku Fukuoka 812-0051
JAPAN
Tel:
092-541-1131
Fax: 092-541-0713
URL: http://www.tanikiden.co.jp
E-Mail address: (thru the URL)
Import, export, wholesale of electrical machinery & equipment
Kurume
ATSUSHI TANI, PRES
Yasuyuki Tani, ch
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,926 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 50 M
TREND UP WORTH Yen 210 M
STARTED 1920 EMPLOYES 43
TRADING FIRM SPECIALIZING IN ELECTRICAL MACHINERY, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established originally in 1915 by K Tani, on his
account, and was established in 1920, and was succeeded by his
descendants. This is a trading firm for
import, export and wholesale of electrical machinery & equipment, as agent
dealer for Hitachi Ltd and Toshiba Corp (See OPERATION). Almost 90% of
the goods come from Hitachi Ltd & group firms. They are exported.
The sales volume for Mar/2013 fiscal term amounted to Yen 1,926 million,
a 12% up from Yen 1,722 million in the previous term. The recurring profit was posted at Yen 1
million and the net profit at Yen 1 million, respectively, compared with Yen 1
million recurring profit and Yen 9 million net losses, respectively, a year
ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 5 million and the net profit at Yen 3 million, respectively, on a 5% rise
in turnover, to Yen 2,030 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jan 1920
Regd No.: 2300-01-003488 (Fukuoka-Higashiku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 4
million shares
Issued:
1 million shares
Sum: Yen 50 million
Major shareholders
(%): Yasuyuki Tani (49),Tani Shoji (22), Company’s Treasury Stock (16),
Isoko Tani (4), Atsushi Tani (2)
No. of shareholders: 12
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales electrical machinery & equipment, as agent dealers for
Hitachi Ltd & Toshiba Corp: air-conditioners, chiller unit, clean room
biomedical unit, motors, inverters, pumps, noise isolators, compressors,
elevators, escalators, refrigerators, others (--100%)
Clients: [Mfrs,
wholesalers] Showa Manufacturing Co, Kyudenko Corp, Tonets Corp, Fukuokakyushu
KUBOTA Corp, Goko-Construction, Asahi Sanso Co Inc, O-Taka Construction,
other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Ltd, Hitachi Appliance, Hitachi Koki Co, Hitachi
Industrial Equipment Systems, Hitachi Building Systems, Toshiba Corp, other
Payment record: Slow but correct
Location: Business area in
Fukuoka. Office premises at the caption
address are owned
and maintained satisfactorily.
Bank References:
Bank of
Fukuoka (Hakata)
Nishinippon
City Bank (Tenjin)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
2,030 |
1,926 |
1,722 |
1,773 |
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Recur. Profit |
|
5 |
1 |
1 |
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Net Profit |
|
3 |
1 |
-9 |
96 |
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Total Assets |
|
|
1,345 |
1,136 |
993 |
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Current Assets |
|
|
915 |
755 |
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Current Liabs |
|
|
811 |
608 |
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Net Worth |
|
|
210 |
209 |
219 |
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Capital, Paid-Up |
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|
50 |
50 |
50 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
5.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
5.40 |
11.85 |
-2.88 |
752.40 |
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Current Ratio |
.. |
112.82 |
124.18 |
.. |
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N.Worth Ratio |
.. |
15.61 |
18.40 |
22.05 |
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R.Profit/Sales |
0.25 |
0.05 |
0.06 |
.. |
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N.Profit/Sales |
0.15 |
0.05 |
-0.52 |
5.41 |
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Return On Equity |
.. |
0.48 |
-4.31 |
43.84 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.