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Report Date : |
01.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAHARA MACHINERY LTD |
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|
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Registered Office : |
1-17-22, Kitakasai Edogawaku, Tokyo 134-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
October, 1969 |
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Com. Reg. No.: |
0117-01-005025 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures Blow Molding Machines, Parts,
Components. |
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|
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No. of Employees : |
70 |
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 72.5 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
TAHARA MACHINERY LTD
REGD NAME: KK
Tahara
MAIN OFFICE: 1-17-22
Kitakasai Edogawaku Tokyo 134-0081 JAPAN
Tel:
03-3680-2131 Fax: 03-3686-3439
E-Mail address: (thru the URL)
Mfg of blow
molding machines
Osaka
At the caption
address
MIKIO UCHIYAMA,
PRES
Tetsuya Tsuruta,
mgn dir
Norifumi Tahara,
dir Yoshihisa Ishibashi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,447 M
PAYMENTSNO
COMPLAINT CAPITAL Yen 50 M
TREND STEADY WORTH Yen 1,366 M
STARTED 1969 EMPLOYES 70
MFR OF BLOW MOLDING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
ESTIMATED AT YEN 72.5 MILLION, ON 30 DAYS
NORMAL TERMS.
The subject company was established by Hideaki Tahara as an iron
factory, and was acquired by Kanematsu Corp in 1969, and then in 2006 by Japan
Steel Works Ltd (See REGISTRATION), and
became its wholly owned subsidiary. This
is a specialized mfr of blow molding machines for plastic products
processing. Goods are exported
worldwide. In 2010, the firm went into
business tie-up with Graham Packing Co LP (USA).
The sales volume for Mar/2014 fiscal term amounted to Yen 2,447 million,
a 14% up from Yen 2,141 million in the previous term. Exports were robust, additionally the weaker
Yen contributed to raise export earnings in Yen terms. The recurring profit was posted at Yen 293
million and the net profit at Yen 183 million, respectively, compared with Yen
251 million recurring profit and Yen 157 million net profit, respectively, a
year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 300 million and the net profit at Yen 200 million, respectively, on a 4%
rise in turnover, to Yen 2,550 million.
Exports continue rising. Business
is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 72.5 million, on 30 days normal terms.
Date Registered: Oct
1969
Regd No.:
0117-01-005025 (Tokyo-Edogawaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 400,000 shares
Issued: 200,000 shares
Sum: Yen 50 million
Japan Steel Works Ltd* (100)
*.. One of world’s
leading mfr of plastics machines and large steel castings & forgings for
electric power & general plants, Tokyo, founded 1950, listed Tokyo, Nagoya
S/E’s, capital Yen 19,694 million, sales Yen 188,719 million, operating profit
Yen 8,864 million, recurring profit Yen 9,704 million, net profit Yen 5,227
million, total assets Yen 295,662 million, net worth Yen 138,626 million,
employees 4,754, pres Ikuo Sato
Nothing detrimental is known as to the
commercial morality of executives.
Activities
Manufactures blow molding machines, parts,
components, other (--100%)
Clients
[Mfrs, wholesalers] Toyo Seikan Group firms,
Toto Seikan Co, IML Technology, Tokan Kogyo Co, Daiichi Kako Co, Kaneyo Soap
Co, Honda Plus Co, other.
Exports to: Indonesia, Thailand, Vietnam,
Singapore, Mexico, Philippines, China, Taiwan, Korea, USA, Poland, other
No. of accounts:
300
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Bumimulia, Toyo Seikan
Group, THK, Sumitomo Heavy Machinery Sales, other
NO COMPLAINTS
Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactory.
Mizuho Bank
(Kameido)
SMBC (Kasai)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
2,550 |
2,447 |
2,141 |
2,466 |
|
Recur.
Profit |
|
300 |
293 |
251 |
|
|
Net
Profit |
|
200 |
183 |
157 |
161 |
|
Total
Assets |
|
|
2,417 |
1,852 |
2,087 |
|
Current
Assets |
|
|
1,797 |
1,250 |
|
|
Current
Liabs |
|
|
1,320 |
850 |
|
|
Net
Worth |
|
|
1,066 |
960 |
882 |
|
Capital,
Paid-Up |
|
|
50 |
50 |
50 |
|
Div.Ttl
in Million (¥) |
|
|
78 |
80 |
80 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.21 |
14.29 |
-13.18 |
20.70 |
|
Current Ratio |
|
.. |
136.14 |
147.06 |
.. |
|
N.Worth Ratio |
|
.. |
44.10 |
51.84 |
42.26 |
|
R.Profit/Sales |
|
11.76 |
11.97 |
11.72 |
.. |
|
N.Profit/Sales |
|
7.84 |
7.48 |
7.33 |
6.53 |
|
Return On Equity |
|
.. |
17.17 |
16.35 |
18.25 |
Notes: Forecast
(or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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.