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Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
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Name : |
TAKACHIHO TRADING CO LTD |
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Registered Office : |
1-4-8 Hiroo
Shibuyaku Tokyo 150-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
15.01.1950 |
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Com. Reg. No.: |
0110-01-013611
(Tokyo-Shibuyaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
· Manufacturer of various gases such as High-purity gases (high-purity oxygen, nitrogen, nitrogen monoxide), fluoro carbons, semiconductor gases, liquefied hydro carbons, standard gases (volatility organic component, auto exhaust calibration standard gases), mixture gases (laser mixtures, lighting source mixtures), gases in disposable cases, gas-related apparatus & semiconductor gasses Importer, exporter and wholesaler of special gases,
manufactured by a subsidiary, Takachiho Chemical Industrial Co. Ltd. |
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No. of Employees |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 101.0 Million |
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Status : |
Satisfactory |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 exceeds 200% of
GDP. Persistent deflation, reliance on exports to drive growth, and an aging
and shrinking population are other major long-term challenges for the economy.
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Source : CIA |
TAKACHIHO TRADING CO LTD
Takachiho Shoji KK
1-4-8 Hiroo
Shibuyaku Tokyo 150-0012 JAPAN
Tel:
03-3444-0231
Fax: 03-3444-2800
URL: http://www.takachiho.biz
E-Mail address: info_02@takachiho.biz
Import,
export, wholesale of gases, high-purity gases, standard gases & mixture
gases
Osaka, Nagoya, Ibaraki, Nagasaki, other (Tot 8)
Korea, China
Tokyo,
Machida (2), Ibaraki, Mie (-- subsidiary maker)
MAKI
YOSHIDA, PRES Tadashi Egami,
ch
Kaoru
Yoshida, mgn dir Miki
Yoshida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,765 M
PAYMENTS No
Complaints CAPITAL Yen 50
M
TREND SLOW WORTH Yen 1,939 M
STARTED 1950 EMPLOYES 52
TRADING FIRM SPECIALIZING IN SPECIAL GASES.
FINANCIAL CONSIDERED FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 101.0 MILLION, 30 DAYS NORMAL TERMS
The subject company is a trading firm specializing in import, export and
wholesale of gases, and in 1958 founded a subsidiary, Takachiho Chemical Industrial
Co Ltd, at the caption address, and started to manufacture various gases:
high-purity gases standard gases, mixture gases, semiconductor gases, other
(See OPERATION). 60% of the products are supplied from
Takachiho Chemical Industrial. Goods are
exported to China, Korea, and other S/E Asian countries. Clients include automakers, heavy machinery
makers, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 2,765 million,
a 4% down from Yen 2,887 million in the previous term. Demand declined due to economic
downturn. The recurring profit was
posted at Yen 181 million and the net profit at Yen 111 million, respectively,
compared with Yen 172 million recurring profit and Yen 105 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 190 million and the net profit at Yen 115 million, respectively, on a 4%
rise in turnover, to Yen 2,900 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 101.0 million, on 30 days normal terms.
Date Registered: 15 Jan 1950
Regd No.: 0110-01-013611 (Tokyo-Shibuyaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
400,000 shares
Issued: 100,000 shares
Sum: Yen 50 million
Major shareholders (%): Tadashi Egami (28), Maki
Yoshida (28), Takachiho Chemical Industrial Co (22)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Import, export
and wholesale of special gases, manufactured by a subsidiary, Takachiho
Chemical Industrial Co Ltd (--100%)
(Handling Gases): High-purity gases
(high-purity oxygen, nitrogen, nitrogen monoxide), fluoro carbons,
semiconductor gases, liquefied hydro carbons, standard gases (volatility
organic component, auto exhaust calibration standard gases), mixture
gases (laser
mixtures, lighting source mixtures), gases in disposable cases, gas-related
apparatus, semiconductor mfg machinery/equipment, other (--100%)
Clients: [Mfrs,
wholesalers] Fujitsu Ltd, Air Liquide Japan, Horiba Ltd, Toyota Motor, Hitachi
Ltd, Shimadzu Corp, Mitsubishi Motor, Nissan Motor, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Takachiho Chemical Ind (60%), Kanto Denka Kogyo (15%), Yutaka
Engineering Corp (5%), Iwatani Corp, Mitsui Chemical, Taiyo Nippon Sanso Corp,
other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Ebisu)
SMBC (Shibuya-Ekimae)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
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Annual
Sales |
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2,900 |
2,765 |
2,887 |
2,948 |
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Recur.
Profit |
|
190 |
181 |
172 |
194 |
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Net
Profit |
|
115 |
111 |
105 |
119 |
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Total
Assets |
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3,243 |
2,887 |
2,948 |
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Current
Assets |
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1,939 |
2,085 |
2,163 |
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Current
Liabs |
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1,279 |
1,520 |
1,684 |
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Net
Worth |
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1,937 |
1,826 |
1,721 |
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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 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.88 |
-4.23 |
-2.07 |
-3.25 |
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Current Ratio |
|
.. |
151.60 |
137.17 |
128.44 |
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N.Worth Ratio |
.. |
59.73 |
63.25 |
58.38 |
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R.Profit/Sales |
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6.55 |
6.55 |
5.96 |
6.58 |
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N.Profit/Sales |
3.97 |
4.01 |
3.64 |
4.04 |
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Return On Equity |
.. |
5.73 |
5.75 |
6.91 |
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Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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UK Pound |
1 |
Rs.101.65 |
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Euro |
1 |
Rs.85.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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 |
-- |
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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.