|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTOMI CO LTD |
|
|
|
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Registered Office : |
5-17 Momozonocho Mizuhoku Nagoya 467-0855 |
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|
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
November 1949 |
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|
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures kerosene heater, laser heater, oil-fired water heater, portable
air-conditioners, split air-conditioner, air cleaners, portable
air-conditioners, humidifiers, dryers, electric lawn mowers, other gardening
tools & equipment (--100%). |
|
|
|
|
No of Employees : |
480 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
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|
|
|
|
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 |
TOYOTOMI CO LTD
REGD NAME
KK Toyotomi
MAIN OFFICE
5-17 Momozonocho Mizuhoku Nagoya 467-0855 Japan
Tel: 052-822-1101
Fax: 052-824-7151
E-Mail address: info@toyotomi.jp
ACTIVITIES: Mfg of kerosene heaters, air conditioners,
air cleaners
BRANCHES: Sapporo, Sendai, Tokyo, Shizuoka, Osaka,
Hiroshima, Fukuoka, other (Tot 10)
OVERSEAS: Toyotomi USA Inc
FACTORIES: At the caption address, Okazaki
OFFICER(S): IZURU NAKAMURA, PRS Yoshiyuki Muraoka, s/mgn dir
Seiji Suzuki,
s/mgn dir Yukihiro Oda, mgn
dir
Yoshihiko Tsukuda, dir Yoshiharu
Katsumata, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 14,000 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 100 M
TREND SLOW WORTH Yen 8,085 M
STARTED 1949 EMPLOYES 480
COMMENT: MFR OF KEROSENE HEATERS, AIR CONDITIONERS,
AIR CLEANERS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
MAX CREDIT
LIMIT: YEN 443.9 MILLION, 30 DAYS NORMAL TERMS
The subject company was established by Kazuharu Nakamura in order to
make most of his experience in the subject line of business. Izuru is the founder’s grandson, who took the
pres office in Jun 1991. Specializes in
mfg kerosene heaters as mainstay, laser heaters, oil-fired water heaters,
portable air conditioners, air cleaners, other.
Also makes lawn mowers, and other gardening equipment. Has a subsidiary sales office in USA,
Toyotomi USA Inc. The firm is affiliated
to Toyota Tsusho Corp. Goods are
exported.
The sales volume for Mar/2014 fiscal term amounted to Yen 14,000
million, a 6% down from Yen 14,825 million in the previous term. The operations plunged into the red to post Yen
270 million recurring loss and Yen 537 million net profit, respectively,
compared with Yen 306 million recurring profit and Yen 118 million net profit,
respectively, a year ago.
For the current term ending Mar/2015 the operations are projected to
come back to profitability to post Yen 300 million recurring profit and Yen 110
million net profit, respectively on a 4% rise in turnover, to Yen 14,500
million.
The financial situation is considered maintained FAIR and good for
ORDINARY business
engagements. Max credit limit is
estimated at Yen 443.9 million, on 30 days normal terms.
Date Registered: Nov 1949
Regd No.: (Nagoya-Mizuhoku)
010714
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 12 million shares
Issued:
3.15 million
shares
Sum: Yen
157.5 million
Major shareholders
(%): Enpuku*(27), Toyotomi
Kiko (10), Toyota Tsusho Corp (8), Toyotomi Soft Kaihatsu (7), Izuru Nakamura
(5)
* Holding company owned by Nakamura family
No. of shareholders: 104
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
kerosene heater, laser heater, oil-fired water heater, portable
air-conditioners, split air-conditioner, air cleaners, portable air-conditioners,
humidifiers, dryers, electric lawn mowers, other gardening tools &
equipment (--100%).
Goods are exported
Clients: [Wholesalers,
mfrs, chain stores] Toyota Tsusho Corp, Trusco Nakayama, Nafco
Co, Yoshii Electric, Koizumi Seiki Corp, Alfax Koizumi, Shinwa Trading,
K-Word Kyushu, other.
Exports to Toyotomi USA Inc, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyota Tsusho Corp, Sumitomo Corp, Pro Steel Co, Toyoset Co,
Diamond Electric, Asano Corrugated Board Co, other.
Payment record: Slow but Correct
Location: Business area in
Nagoya. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
MUFG (Nagoya)
Ogaki Kyoritsu Bank (Nagoya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual Sales |
|
14,500 |
14,000 |
14,825 |
19,411 |
|
Recur. Profit |
|
300 |
-270 |
306 |
1,478 |
|
Net Profit |
|
110 |
-537 |
118 |
796 |
|
Total Assets |
|
|
15,405 |
15,146 |
15,008 |
|
Current Assets |
|
|
5,377 |
4,951 |
5,180 |
|
Current Liabs |
|
|
2,980 |
2,243 |
2,677 |
|
Net Worth |
|
|
8,085 |
8,634 |
8,493 |
|
Capital, Paid-Up |
|
|
100 |
100 |
100 |
|
Div.in Million (¥) |
|
|
0.00 |
31 |
25 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.57 |
-5.56 |
-23.63 |
15.01 |
|
Current Ratio |
|
.. |
180.44 |
220.73 |
193.50 |
|
N.Worth Ratio |
|
.. |
52.48 |
57.01 |
56.59 |
|
R.Profit/Sales |
|
2.07 |
-1.93 |
2.06 |
7.61 |
|
N.Profit/Sales |
|
0.76 |
-3.84 |
0.80 |
4.10 |
|
Return On Equity |
|
.. |
-6.64 |
1.37 |
9.37 |
Notes: Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.