|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Correct Name : |
TAKEAKA
CORPORATION |
|
|
|
|
Registered Office : |
4-1-13 Honmachi Chuoku Osaka 541-0053 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
September 1937 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Engaged as Civil Engineering such as Construction & Development
Works |
|
|
|
|
No of Employees : |
7,049 |
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 |
|
Maximum Credit Limit : |
Yen 24,749.9 Million |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
TAKEAKA CORPORATION
KK Takenaka Komuten
4-1-13 Honmachi Chuoku Osaka 541-0053
JAPAN
Tel:
06-6252-1201 Fax: 06-6271-0398
URL: http://www.takenaka.co.jp
E-Mail address: (thru the URL)
Engaged as Civil
Engineering such as Construction & Development Works
Nationwide
(69 locations)
MASAHIRO
MIYASHITA, PRES Toichi Takenaka, ch
Teruo Watanabe, v pres Kiyoyuki
Kadokawa, rep dir
Masanori
Okada, rep dir Muneyoshi Tawaratani, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 786,787 M
PAYMENTSREGULAR CAPITAL Yen
50,000 M
TREND STEADY WORTH Yen 168,750 M
STARTED 1937 EMPLOYES 7,049
GENERAL CONTRACTOR.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: ESTIMATED AT YEN 24,749.9 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company is a general contractor and the only unlisted companies of 5 super general contractors. Civil engineering works represent 96.5% of total sales. Active in advancing into overseas markets, with sales in overseas enjoy 20% of total sales. Particularly active in the S/E Asian countries. .
The sales volume for Dec/2013 fiscal term amounted to Yen 786,787 million, a 0.2% down from Yen 788,342 million in the previous term. Selected really profitable works. The recurring profit was posted at Yen 15,696 million and the net profit at Yen 4,044 million, respectively, compared with Yen 6,523 million recurring profit and Yen 3,965 million net profit, respectively, a year ago.
For the current term ending Dec 2014 the recurring profit is projected at Yen 16,000 million and the net profit at Yen 4,300 million, respectively, on a 5% rise in turnover, to Yen 825,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 24,449.9 million, on the normal 30 days terms.
Date Registered: Sept 1937
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
400 million shares
Issued:
100 million shares
Sum: Yen 50,000 million
Major shareholders (%): TAK Property (42.9), Asahi
Properties (22.9), Employees’ S/Holding Assn (10.3), Takenaka
Foundation (4.2), MUFG (3.0), Dai-ichi Life Ins (1.7)
No. of shareholders: 71
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Civil
Engineering: construction (92%), development works (8%)
Overseas Sales
Ratio (15%-20%)
Clients: [Mfrs,
wholesalers] Aeon Mall, Nippon Giant Tire, Mitsubishi
Warehousing, Asahi Newspaper, Kawasaki Municipal Hospital, Hanwa Corp, Kyushu
Electric Works, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] TAK Capital Service, Takasago Thermal Engineering, other
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
MUFG (Osaka-Chuo)
Mizuho Bank (Osaka)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
|
Annual
Sales |
|
825,000 |
786,787 |
788,342 |
811,197 |
|
Recur.
Profit |
|
16,000 |
15,696 |
6,523 |
|
|
Net
Profit |
|
4,300 |
4,044 |
3,965 |
2,856 |
|
Total
Assets |
|
|
958,662 |
864,539 |
809,925 |
|
Current
Assets |
|
|
442,036 |
459,554 |
|
|
Current
Liabs |
|
|
474,009 |
483,645 |
|
|
Net
Worth |
|
|
368,750 |
300,473 |
266,406 |
|
Capital,
Paid-Up |
|
|
50,000 |
50,000 |
50,000 |
|
Div.P.Share(¥) |
|
|
40.00 |
40.00 |
40.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.86 |
-0.20 |
-2.82 |
-8.92 |
|
|
Current Ratio |
|
.. |
93.25 |
95.02 |
.. |
|
N.Worth Ratio |
.. |
38.47 |
34.76 |
32.89 |
|
|
R.Profit/Sales |
|
1.94 |
1.99 |
0.83 |
.. |
|
N.Profit/Sales |
0.52 |
0.51 |
0.50 |
0.35 |
|
|
Return On Equity |
.. |
1.10 |
1.32 |
1.07 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
|
UK Pound |
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
|
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.