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Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOPPAN COSMO INC |
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Registered Office : |
Toppan Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
January 1961 |
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Com. Reg. No.: |
0104-01-033901 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures, imports, exports and wholesales
building/construction materials, decorative surface materials, fabricated
decorative surface materials, furniture, equipment, other; sells materials
for greening/planting & artificial soil, other |
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|
|
|
No. of Employees |
442 |
RATING & COMMENTS
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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 : |
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 |
|
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 |
TOPPAN COSMO INC
REGD NAME: KK
Toppan Cosmo
MAIN OFFICE: Toppan
Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel:
03-5418-3700 Fax: 03-5418-3704
URL: http://www.toppan-cosmo.jmjp
E-Mail
address: info-forest@toppan-cosmo.imjp
Wholesale,
mfg of housing kits, ceiling plywood, flooring, decorative sheet
Nagoya,
Osaka, Sendai, Fukuoka, Sapporo, Toyama (Tot 14)
Fukuoka;
USA (2)
YOSHIYUKI
ISHIDA, PRES Toshiaki Sugimura,
s/mgn dir
Yuzo
Shoji, s/mgn dir Kenji Katsurata, mgn
dir
Naoki Adachi, dir Hideo Yoshikawa, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 81,253 M
PAYMENTSNO
COMPLAINT’S CAPITAL Yen 3,000 M
TREND UP WORTH Yen 17,824 M
STARTED 1963 EMPLOYES 442
MFR, WHOLESALER SPECIALIZING BUILDING MATERIALS, OWNED BY
TOPPAN PRINTING CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a trading division separated from
Toppan Printing Co Lt (See REGISTRATION). This is a trading firm, with mfg
division, specializing in import, export
and wholesale of building materials, flooring, ceiling plywood, other. Operates two factories in USA and imports the
products.
The sales volume
for Mar/2013 fiscal term amounted to Yen 81,253 million, a 5% up from Yen
77,520 million in the previous term. The
firm streamlined the operations to focus on really profitable businesses,
withdrawing from unprofitable operations.
The recurring profit was posted at Yen 1,517 million and the net profit
at Yen 1,513 million, respectively, compared with Yen 547 million recurring
profit and Yen 757 million net profit, respectively, a year ago.
For the
term that ended Mar 2014 the recurring profit was projected at Yen 1,550
million and the net profit at Yen 1,600 million, respectively, on a 3% rise in
turnover, to Yen 83,700 million. Final
results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1961
Regd No.: 0104-01-033901 (Tokyo-Minatoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
24 million shares
Issued:
6 million shares
Sum: Yen 3,000 million
Major shareholders (%):
Toppan Printing Co Ltd* (100)
*.. One of two largest printing
companies, known for steady management, founded 1908, Listed Tokyo S/E, capital
Yen 104,986 million, sales Yen 1,502,307 million, operating profit Yen 32,092
million, recurring profit Yen 36,966 million, net profit Yen 18,562 million,
total assets Yen 1,690,758 million, net worth Yen 783,160 million, employees
50,772, pres Shingo Kaneko
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures, imports, exports and
wholesales building/construction materials, decorative surface materials,
fabricated decorative surface materials, furniture, equipment, other; sells
materials for greening/planting & artificial soil, other (--100%)
Clients: [Mfrs, wholesalers] Toppan Printing,
Toppan Int’l America, LIXIL, Toppan NEC Circuit Solutions, Aica Kogyo Co,
Ibiken Wood Tech, Daio Paper Corp, Daiken Ind, Toppan NEC Circuit Solutions,
Toto High Living, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Aica Kogyo Co,
Toppan Printing, Toppan Kenso Products, Panasonic Electric Works, Ibiden, other
Payment record: No
complaints
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Toppan Printing Co, and
maintained satisfactorily.
Bank References:
MUFG
(Tamachi)
SMBC
(Nihombashi)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
83,700 |
81,253 |
77,520 |
70,158 |
|
Recur.
Profit |
|
1,550 |
1,517 |
547 |
-929 |
|
Net
Profit |
|
1,600 |
1,513 |
757 |
-1,127 |
|
Total
Assets |
|
|
40,710 |
39,045 |
34,187 |
|
Current
Assets |
|
|
32,844 |
32,282 |
27,318 |
|
Current
Liabs |
|
|
21,510 |
21,869 |
17,794 |
|
Net
Worth |
|
|
17,824 |
15,908 |
15,080 |
|
Capital,
Paid-Up |
|
|
3,000 |
3,000 |
3,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.01 |
4.82 |
10.49 |
3.94 |
|
|
Current Ratio |
|
.. |
152.69 |
147.62 |
153.52 |
|
N.Worth Ratio |
.. |
43.78 |
40.74 |
44.11 |
|
|
R.Profit/Sales |
|
1.85 |
1.87 |
0.71 |
-1.32 |
|
N.Profit/Sales |
1.91 |
1.86 |
0.98 |
-1.61 |
|
|
Return On Equity |
.. |
8.49 |
4.76 |
-7.47 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.87 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
<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.