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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
TAKARA BELMONT CORPORATION |
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Registered Office : |
2-1-1 Higashi-Shinsaibashi Chuoku Osaka 542-0083 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
July 1951 |
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Com. Reg. No.: |
1200-01-077459 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of hairdressing equipment, medical & dentistry equipment, hair cosmetics |
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No of Employees : |
1,316 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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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 |
TAKARA BELMONT
CORPORATION
Takara Belmont KK
2-1-1 Higashi-Shinsaibashi Chuoku Osaka 542-0083JAPAN
Tel: 06-6211-2831
URL: http://www.takarabelmont.co.jp
E-Mail address: custom@takara-net.com
Mfg of hairdressing equipment, medical & dentistry
equipment, hair cosmetics
Tokyo, Nagoya, Takamatsu, other (Tot 61)
USA, Brazil, Canada China, Europe, other (Tot 24)
Shiga (2), Osaka, Amagasaki, Kohga, Tokyo
HIDETAKA YOSHIKAWA, PRES Kazufumi
Chiyooka, v pres
Tatsuo Sugai, mgn dir Heihachiro
Oura, dir
Jiro Matsumoto, dir Iku
Yamaguchi, dir
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 51,925 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 300 M
TREND UP WORTH Yen 19,037 M
STARTED 1951 EMPLOYES 1,316
MFR OF BEAUTY/HAIR-DRESSING EQUIPMENT, MEDICAL EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Hidenobu Yoshikawa as
a foundry for making cast metal, as Takara Chuzo Ltd. The firm specializes in mfg beauty &
hairdressing equipment, medical/dental devices, beauty salon appliances,
foundation/hair cosmetics, other. In
1957 began launching into scientific/beauty salon equipment mfg and now tops in
the world in this field. In autumn 2013
established mfg factory in Vietnam and started production of dental devices for
supply to S/E Asian countries. Goods are
sold thru agent dealers (subsidiaries) and exported.
The sales volume for Mar/2013 fiscal term amounted to Yen 51,925
million, a 6% up from Yen 48,809 million in the previous term. Exports to S/E Asian countries rose. The recurring profit was posted at Yen 1,550
million and the net profit at Yen 733 million, respectively, compared with Yen
796 million recurring profit and Yen 51 million net losses, respectively, a
year ago.
For the term that ended Mar 2014 the recurring profit was
projected at Yen 1,600 million and the net profit at Yen 750 million,
respectively, on a 5% rise in turnover, to Yen 54,500 million. Newly opened Vietnam Factory
contributed. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date
Registered: Jul 1951
Regd
No.: 1200-01-077459
(Osaka-Chuoku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 24 million shares
Issued:
6 million
shares
Sum: Yen
300 million
Major shareholders (%): Hedetaka Yoshikawa (8.2), Takara
Standard (5.0), Resona Bank, SMBC, MUFG, Mizuho Bank (each 4.5), other
No. of
shareholders: 258
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Manufactures] hair-dressing appliances/equipment, beauty salon related
appliances, dentistry & medical equipment, residential fittings &
equipment, hair and foundation cosmetics, other (--100%)
Clients:
[Mfrs, wholesalers] Hokkaido Takara Belmont, Takara Beautymate, Kyushu Takara
Belmont, Takara Belmont USA, Takara Belmont UK, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Takara Space Design, Takara Medical, Sumitomo Densetsu Co,
Asahi Roentgen Co, Belmont Technology, other
Payment
record: No Complaints
Location:
Business area in Osaka. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Resona
Bank (H/O)
Mizuho
Bank (Minami-Semba)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
54,500 |
51,925 |
48,809 |
50,867 |
|
Recur.
Profit |
|
1,600 |
1,550 |
796 |
836 |
|
Net
Profit |
|
750 |
733 |
-51 |
-399 |
|
Total
Assets |
|
|
53,438 |
50,578 |
51,972 |
|
Current
Assets |
|
|
24,043 |
22,731 |
|
|
Current
Liabs |
|
|
25,417 |
24,860 |
|
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Net
Worth |
|
|
19,037 |
17,454 |
17,768 |
|
Capital,
Paid-Up |
|
|
300 |
300 |
300 |
|
Div.P.Share(¥) |
|
|
18.00 |
15.00 |
10.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.96 |
6.38 |
-4.05 |
1.74 |
|
|
Current Ratio |
|
.. |
94.59 |
91.44 |
.. |
|
N.Worth Ratio |
.. |
35.62 |
34.51 |
34.19 |
|
|
R.Profit/Sales |
|
2.94 |
2.99 |
1.63 |
1.64 |
|
N.Profit/Sales |
1.38 |
1.41 |
-0.10 |
-0.78 |
|
|
Return On Equity |
.. |
3.85 |
-0.29 |
-2.25 |
|
Notes: Forecast (or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
|
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.