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Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TOHO METAL INDUSTRIES CO LTD |
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Registered Office : |
4-37-6 Matsushima Edogawaku Tokyo 132-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
February 1950 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures: tin plates,
metal jacket for dry batteries, gas stove, aerosol products, other (--100%) |
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No. of Employees |
72 |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
TOHO METAL INDUSTRIES CO LTD
REGD NAME: Toho
Kinzoku Kogyo KK
MAIN OFFICE: 4-37-6
Matsushima Edogawaku Tokyo 132-0031 JAPAN
Tel:
03-3654-8911 Fax: 03-3654-9220
URL: http://www.tohometalco.jp
E-Mail
address: (thru the URL)
Mfg of
dry batteries, tin products, cassette bombe, gas stove, aerosol products
Osaka,
Fukuoka
Korea,
China
Ibaraki,
Tsukuba; Korea, China
TAKESHI
SAWADA, PRES
Atsushi
Yoshida, s/mgn dir
Kaoru
Ishida, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 7,255 M
PAYMENTS Slow But Correct CAPITAL Yen
30 M
TREND SLOW WORTH Yen
1,266 M
STARTED 1950 EMPLOYES 72
MFR OF DRY BATTERIES, TIN PRODUCTS, OTHER
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established by father of Takeshi Sawada in order to make most of
his experience in the subject line of business.
Takeshi took the pres office in Jun 2000. This is a specialized mfr of metal jacket for
dry batteries, tin products, gas stove, aerosol products, other. Has factories in Korea and China. Goods are exported.
The sales
volume for Mar/2013 fiscal term amounted to Yen 7,255 million, an 11% down from
Yen 8,111 million in the previous term.
Special large orders were decreased.
The recurring profit was posted at Yen 54 million and the net profit at
Yen 8 million, respectively, compared with Yen 88 million recurring profit and
Yen 9 million net profit, respectively, a year ago.
For the
term that ended 2014 the recurring profit was projected at Yen 60 million and
the net profit at Yen 10 million, respectively, on a 3% rise in turnover, to
Yen 7,450 million. Final results are yet
to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb
1950
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
240,000 shares
Issued:
60,000 shares
Sum: Yen 30 million
Major shareholders (%): Hiromi Sawada (37), Emi Goto
(25), Nippon Metal Print (5)
No. of shareholders: 43
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures: tin plates, metal
jacket for dry batteries, gas stove, aerosol products, other (--100%)
Clients: [Mfrs, wholesalers] Three Bond, Yuwa
Corp, Iwatani Corp, Komeri Co, Daiei Corp, Asukul Co, Orientec Co, Coleman
Japan, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Nippon Metal
Print, Taiyo Industry, Maruichi, Toho Korea, Taiyo Petroleum Gas, other
Payment record: slow
but correct
Location:
Business area in Tokyo. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
Shoko
Chukin Bank (Fukagawai)
Chiba
Bank (Koiwa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
7,450 |
7,255 |
8,111 |
7,287 |
|
Recur.
Profit |
|
60 |
54 |
88 |
|
|
Net
Profit |
|
10 |
8 |
9 |
8 |
|
Total
Assets |
|
|
7,529 |
7,349 |
7,180 |
|
Current
Assets |
|
|
4,297 |
4,008 |
|
|
Current
Liabs |
|
|
2,114 |
2,160 |
|
|
Net
Worth |
|
|
1,266 |
1,258 |
1,248 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.69 |
-10.55 |
11.31 |
35.80 |
|
|
Current Ratio |
|
.. |
203.26 |
185.56 |
.. |
|
N.Worth Ratio |
.. |
16.81 |
17.12 |
17.38 |
|
|
R.Profit/Sales |
|
0.81 |
0.74 |
1.08 |
.. |
|
N.Profit/Sales |
0.13 |
0.11 |
0.11 |
0.11 |
|
|
Return On Equity |
.. |
0.63 |
0.72 |
0.64 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
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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.