|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYO SCIENCE CORP |
|
|
|
|
Registered Office : |
Kinsan Bldg 4F, 4-1-21 Nihombashi-Muromachi Chuoku Tokyo 103-0022 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
October 1996 |
|
|
|
|
Com. Reg. No.: |
0100-01-051901 (Tokyo-Chuoku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Exports and imports pharmaceuticals, their materials &
intermediates, food additives, feed additives, plastics, industrial
chemicals, others |
|
|
|
|
No of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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 |
TOYO SCIENCE CORP
Toyo Science KK
Kinsan Bldg 4F, 4-1-21 Nihombashi-Muromachi Chuoku Tokyo 103-0022 JAPAN
Tel: 03-5205-1040
Fax: 03-5205-1043
*.. Moved to the caption address in Oct 2006
from the one as given, and is registered thereat
URL: http://www.toyo-asia.co.jp/
E-Mail address: gen@toyo-asia.co.jp
ACTIVITIES: Export,
import, wholesale of fine chemicals
BRANCHES: Shanghai,
Korea, India (JV)
FACTORIES: Shanghai
(subcontracted)
OFFICER(S): HIDEO
SAITOH, PRES
Tomoji Kitagawa, mgn dir
Hidehiro Tachibana, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,592 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 10 M
TREND SLOW WORTH Yen 3 M
STARTED 1996 PLOYES 13
TRADING HOUSE SPECIALIZING IN FINE CHEMICALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established jointly by Hideo Saitoh and two other executives in
order to make most of their experiences in the subject line of business. H Saitoh is a graduate of Tokyo Univ of
Pharmacy & Life Science. This is a
trading house specializing in export of fine chemicals, which division
accounting for over 80% of total sales.
Export countries include Europe, USA, China, Indonesia, and other S/E
Asian countries. Imports are from India,
Europe, China, USA, etc. Tied with
DermScan group (France) as Japan agent for contract research of pharmaceuticals,
cosmetics, health foods. Export goods
are supplied from domestic major pharmaceutical, food, fine chemicals makers.
The sales volume
for Sept/2013 fiscal term amounted to Yen 1,592 million, a 1% down from Yen 1,606
million in the previous term. The
recurring profit was posted at 1 million, while posted Yen 79 million net
losses, respectively, compared with Yen 14 million recurring profit and Yen 4
million net profit, respectively, a year ago.
The loss is referred to the extraordinary losses from payment of
retirement allowances to the retired executives (directors).
.
For the current
term that ended Sept 2014 the operations were projected to come back to
profitability to post Yen 20 million recurring profit and Yen 5 million net
profit, respectively, on a 5% rise in turnover, to Yen 1,670 million. Final results are yet to be released.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
Date Registered: Oct 1996
Regd No.:
0100-01-051901
(Tokyo-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen
10 million
Major
shareholders (%): Hideo Saitoh (52), Tomoji Kitagawa (24), Kiichi Furukawa (23), Kayoko
Saitoh (1)
No. of shareholders: 4
Nothing
detrimental is knows as to the commercial morality of executives.
Activities: Exports and
imports pharmaceuticals, their materials & intermediates, food additives,
feed additives, plastics, industrial chemicals, others (--100%).
Also engaged in contract mfg of these products at subcontracted mfr, YWK
Chemical (Taichiang), China.
Clients: [Mfrs,
wholesalers] Nestle, PT Kalbe, PT Signa, Wako Chemical, Abott, Squalo, other.
Exports to Indonesia, Thailand, China,
Vietnam, Korea, Taiwan, Malaysia, Europe, USA, other.
No. of accounts: Limited
Domestic areas of activities: Nationwide
Suppliers: [Pharmaceutical
makers, food processors] Meiji Seika Pharma (23%), Kyowa Chemical Ind (21%),
Kinsei Matec (11%), Kowa Co (9%), Squalo (8%), Eisai, Mitsui Chemical, Tosoh
Corp, Kinsei Matec, other.
Also imports from India, China, USA, Europe, etc.
Payment
record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
MUFG
(Kanda-Ekimae)
Mizuho Bank
(Shinkawa)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/09/2014 |
30/09/2013 |
30/09/2012 |
30/09/2011 |
|
|
Annual
Sales |
|
1,670 |
1,592 |
1,606 |
1,691 |
|
Recur.
Profit |
|
20 |
1 |
14 |
16 |
|
Net
Profit |
|
5 |
-79 |
4 |
4 |
|
Total
Assets |
|
|
554 |
722 |
704 |
|
Current
Assets |
|
|
395 |
584 |
565 |
|
Current
Liabs |
|
|
278 |
293 |
112 |
|
Net
Worth |
|
|
3 |
83 |
79 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.Ttl
in Million (¥) |
|
|
1.0 |
1.1 |
1.1 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.90 |
-0.87 |
-5.03 |
24.71 |
|
Current Ratio |
|
.. |
142.09 |
199.32 |
504.46 |
|
N.Worth Ratio |
|
.. |
0.54 |
11.50 |
11.22 |
|
R.Profit/Sales |
|
1.20 |
0.06 |
0.87 |
0.95 |
|
N.Profit/Sales |
|
0.30 |
-4.96 |
0.25 |
0.24 |
|
Return On Equity |
|
.. |
.. |
4.82 |
5.06 |
Notes: Forecast
(or estimated) figures for the 30/09/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
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.