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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TAMURAKOMA & CO LTD |
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Registered Office : |
3-3-9 Azuchimachi Chuoku Osaka 541-8580 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
April, 1918 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Subject is engaged in the Import, export, wholesale of textiles,
textile goods, household goods |
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No. of Employees : |
253 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 2,376.7 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
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 |
|
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. 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.
|
Source
: CIA |
TAMURAKOMA &
CO LTD
REGD NAME: Tamurakoma KK
MAIN OFFICE: 3-3-9 Azuchimachi Chuoku Osaka 541-8580 JAPAN
Tel:
06-6268-7000
Fax: 06-6268-7296
URL: http://www.tamurakoma.co.jp/
E-Mail address: (thru the URL to each Division)
Import, export, wholesale of textiles, textile goods, household goods
Tokyo (2)
Paris, Jeddah, Taipei, Seoul, Shanghai, Qingdao, Dalian, Hong Kong
(subcontracted)
MASAHIKO ICHIKAWA, PRES Toshiro
Higuchi, mgn/dir
Hiroyuki Ueki, mgn/dir Isao
Kanamaru, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 94,437 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
1,240 M
TREND UP WORTH Yen 14,806 M
STARTED 1918 EMPLOYES 253
OLD-ESTABLISHED TRADING HOUSE SPECIALIZING IN TEXTILES
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 2,376.7 MILLION, 30 DAYS NORMAL TERMS.
The subject company was established originally in 1894 by Komajiro
Tamura for marketing textile goods in Osaka, on his account. Since incorporated in 1918, the firm has
diversified its operations into import, export and wholesale of textiles,
garments, other textile household materials & products. Has since grown into a leading trading house
specializing in textiles based in Osaka, with Tokyo Branch strengthening
operations in China, where the firm has three mfg/marketing subsidiaries,
including Hong Kong. Paris Branch Office
covers the whole Europe. Clients are
garment mfrs, wholesalers, chain stores, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 94,437
million, an 8% up from Yen 87,055 million in the previous term. The recurring profit was posted at Yen 2,132
million and the net profit at Yen 1,372 million, respectively, compared with
Yen 2,520 million recurring profit and Yen 1,301 million net profit, respectively,
a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 12,200 million and the net profit at Yen 1,400 million, respectively, on
a 3% rise in turnover, to Yen 97,300 million.
The nation’s retail sector is struggling amid consumer worries about
income and employment.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen 2,376.7 million, on 30
days normal terms.
Date Registered: Apr 1918
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 6.8 million shares
Issued:
1.7 million shares
Sum: Yen
1,240 million
Major shareholders
(%): Sanshin KK (11.5), Toyo Fudosan (11.1), Unitika (6.6), Tokyo Style
(5.5), Tokyo Soir (5.4), Cloth Plus (4.9)
No. of
shareholders: 535
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports, exports
and wholesales apparel products (56.5%), textile commodities of household (14.0%),
fabrics for garments (15.6%), household products (9.4%), materials for
household goods (3.9%), others (0.6%).
(Handling Items):
Garments &
Apparel Business: Ladies’ fashion (T-shirts, blouse, camisoles, tank top,
sweaters, cardigans, sweatshirts, skirts, trousers, jackets, coats, suits,
pajamas, inners; Men’s fashion
(T-shirts, sweaters, suits, blousons, jackets, trousers); Kids & Babies (T-shirts, skirts, dresses, trousers, coats,
jackets, rompers, bibs, pajamas, hats); Textile
(lining fabrics, garments accessories, functional materials for sporty
casual & men’s & women’s wear, materials for uniform & ladies’ wear
(formal), other;
Home Fashion
Business: Home Interior Products (Futon, kotatsu futon, towels, cushion
cover, pillow case, slippers, curtains, roll screens, rugs & carpets,
toiletries, cushions, short split curtains, table cloths, luncheon mats, bed
pads, inners, stuffed toys, sundry goods, gift products, health-related
products); Professional-use Linens (sheets,
towels, table cloths, white coats, room wear); Portable items for outings (handkerchiefs, towels, etc);
Peripheral
Business: Industrial Fabric Materials (fibers for air-conditioning systems, films,
resins, plastics); Building Materials
(external wall materials, flooring materials, permeable sheets, thermal
insulation materials)
Clients: [Mfrs,
wholesalers] Tamurakoma Engineering, Tokyo Soir, Cloth Plus, Asahiya,
Sanyei International, other
Also exports to worldwide destinations
No. of accounts: 3,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toray Ind, Nisshinbo Textile, Asahi Kasei Building Materials,
Mitsubishi Rayon Textile, Unitika Ltd, Komatsu Seiren, 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)
MUFG
(Midosuji)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
97,300 |
94,437 |
87,055 |
81,189 |
|
Recur. Profit |
|
2,200 |
2,132 |
2,520 |
|
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Net Profit |
|
1,400 |
1,372 |
1,301 |
1,002 |
|
Total Assets |
|
|
45,576 |
40,526 |
38,246 |
|
Current Assets |
|
|
33,444 |
28,754 |
|
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Current Liabs |
|
|
26,201 |
24,526 |
|
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Net Worth |
|
|
14,806 |
13,355 |
12,278 |
|
Capital, Paid-Up |
|
|
1,240 |
1,240 |
1,240 |
|
Div.Ttl in Million(¥) |
|
|
123 |
97.2 |
97.2 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.03 |
8.48 |
7.23 |
6.06 |
|
|
Current Ratio |
|
.. |
127.64 |
117.24 |
.. |
|
N.Worth Ratio |
.. |
32.49 |
32.95 |
32.10 |
|
|
R.Profit/Sales |
|
47.28 |
48.26 |
46.55 |
.. |
|
N.Profit/Sales |
1.44 |
1.45 |
1.49 |
1.23 |
|
|
Return On Equity |
.. |
9.27 |
9.74 |
8.16 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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 |
|
---- |
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.