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Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TOHO
INTERNATIONAL INC |
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Registered Office : |
Orix Honmachi Bldg 2F, 1-4-1 Nishi-Honmachi Nishiku Osaka 550-0005 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
January 1988 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Exporter of precision various types of wire & spring, spring wire, strips for spring. importer wire/spring making
tools/equipment, such as wire drawing dies, cold pressure welders, precision
die tools, optical instruments for die & wire measurement |
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No of Employees : |
33 |
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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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 INTERNATIONAL INC
Toho International KK
Orix Honmachi Bldg 2F, 1-4-1 Nishi-Honmachi Nishiku Osaka 550-0005 JAPAN
Tel:
06-6243-4561 Fax: 06-6243-4565
URL: www.toho-intl.co.jp
E-mail: export@toho-intl.co.jp; import@toho-intl.co.jp
· Exporter of precision various types of wire & spring, spring wire, strips for spring.
importer wire/spring making tools/equipment, such as wire
drawing dies, cold pressure welders, precision die tools, optical instruments
for die & wire measurement
Tokyo,
Utsunomiya (Tochigi)
Singapore
HIROFUMI
NAKAZAKI, PRES Taeko Nakamura, dir
Yoshiro
Kawamoto, dir Rieko
Nakazaki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,805 M
PAYMENTS No
Complaints CAPITAL Yen 30 M
TREND SLOW WORTH Yen
324 M
STARTED 1988 EMPLOYES 33
TRADING
FIRM SPECIALIZING IN WIRE & SPRING AND TOOLS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established by Hirofumi Nakazaki in order to make most of his experience in the subject line of business. This is a trading firm for import and export of precision wire & spring, wire/spring making tools & equipment (See OPERATION). Exports to Singapore, Hong Kong, China, other S/E Asian countries, and imports from USA, Europe, other. Has an office in Singapore. Domestic clients include major electric Ind, other
The sales volume for Sept/2013 fiscal term amounted to Yen 1,805
million, a 3% down from Yen 1,857 million in the previous term. Exports were hurt by the high Yen in the
first half, reducing revenues in Yen terms.
The recurring profit was posted at Yen 61 million and the net profit at
Yen 41 million, respectively, compared with Yen 93 million recurring profit and
Yen 56 million net profit, respectively, a year ago. .
For the current term ending Sept 2014 the recurring profit is projected
at Yen 65 million and the net profit at Yen 45 million, respectively, on an 8%
rise in turnover, to Yen 1,950 million.
Weaker Yen will raise export revenues in Yen terms.
Financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jan 1988
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2,400 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders (%): Hirofumi Nakazaki (67),
Employees’ S/Holding Assn (10), Taeko Nakamura (5), other
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Exports
precision various types of wire & spring, spring wire, strips for spring,
other (--60%); imports wire/spring making tools/equipment, such as wire drawing
dies, cold pressure welders, precision die tools, optical instruments for die
& wire measurement, other (--40%).
Exports oil tempered alloy & stainless steel wire for important
parts of a car, such as valve spring of an engine, suspensit9n springs in
automobile.
Clients: [Mfrs,
wholesalers] Sumitomo (SEI) Steel Wire Corp, Sumiden Fine Conductors, Electric
Ind, Bridgestone Corp, Furukawa Electric Ind, Hitachi Cable Ltd, Tokusen Corp,
Sumitomo Electric Ind Tochigi, Yazaki Corp (Electric Ind), Japan Fine Steel
Corp, Kurabe Ind, other.
Exports to Hong Kong, China, Singapore, India, other S/E Asian countries
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sugita Wire Inc, Sumitomo Electric Ind, NGK Insulators, Nippon
Seisen Co, Koyo Senzai Co, NAS Stainless Steel Strip Mfg, JFE Techno Wire, Y
Spring Corp, Tokusen Corp, Uji Shindo Co, other.
Imports from USA, Europe, other.
Payment record: No Complaints
Location:
Business area in Osaka. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Mizuho
Bank (Semba)
Kinki
Osaka Bank (Joto)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
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Annual
Sales |
|
1,950 |
1,805 |
1,857 |
1,976 |
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Recur.
Profit |
|
65 |
61 |
93 |
93 |
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Net
Profit |
|
45 |
41 |
56 |
56 |
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Total
Assets |
|
|
1,303 |
1,191 |
1,118 |
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Current
Assets |
|
|
1,027 |
955 |
904 |
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Current
Liabs |
|
|
866 |
730 |
581 |
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Net
Worth |
|
|
324 |
297 |
268 |
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Capital,
Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
8.03 |
-2.80 |
-6.02 |
-1.20 |
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Current Ratio |
|
.. |
118.59 |
130.82 |
155.59 |
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N.Worth Ratio |
.. |
24.87 |
24.94 |
23.97 |
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R.Profit/Sales |
|
3.33 |
3.38 |
5.01 |
4.71 |
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N.Profit/Sales |
2.31 |
2.27 |
3.02 |
2.83 |
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|
Return On Equity |
.. |
12.65 |
18.86 |
20.90 |
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Notes:
Forecast (or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.58.57 |
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UK Pound |
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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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 |
-- |
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.