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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TAKISADA-OSAKA CO LTD |
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Registered Office : |
2-3-6 Bingomachi Chuoku Osaka 541-0051 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
August 2001 |
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Com. Reg. No.: |
1200-01-099371 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of
textiles & products |
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No. of Employees : |
749 |
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 |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
TAKISADA-OSAKA CO LTD
REGD NAME: Takisada
Osaka KK
MAIN OFFICE: 2-3-6
Bingomachi Chuoku Osaka 541-0051 JAPAN
Tel: 06-6262-1205 Fax: 06-6261-4327
*..
The is its Tokyo Office
URL: http://www.takisada-osaka.co.jp/
E-Mail
address: info@takisada-osaka.co.jp
Import,
export, wholesale of textiles & products
Tokyo,
Nagoya, Gifu
China (4
including Hong Kong), USA, Thailand, India, Vietnam, Italy
RYUTA
TAKI, PRES
Osamu Ogawa, s/mgn dir
Naoto
Taki, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 83,151 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 1,500 M
TREND STEADY WORTH Yen 50,651 M
STARTED 2001 EMPLOYES 749
TRADING HOUSE SPECIALIZING IN TEXTILES & PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The
subject company was established originally in 1864 by a certain Taki as a
textile merchant, on his account.
Incorporated in 1940, the firm has been succeeded by his
descendants. In Aug 2001, the firm split
into two entities: Takisada-Osaka Co Ltd (ex Takisada Osaka Headquarters) and
Takisada-Nagoya Co Ltd (ex Takisada Nagoya Headquarters). This is a trading house specializing in
textiles and their products. Boasts the
top-ranked position in sales of textiles & products. Annual textile sales amounts to 50,100,000
meters. Goods are both imported and
exported. Opened Bangkok Office in Jun
2013. Clients are major apparel mfrs,
wholesalers, chain stores, specialty stores, etc, nationwide.
The sales volume for Jan/2014
fiscal term amounted to Yen 83,151 million, a 10% up from Yen 75,259 million in
the previous term. Exports into and from
China increased. Operations, however,
plunged into the red to post Yen 1,989 net losses for the term. The recurring profit was posted at Yen 1,844
million and the net losses at Yen 1,989 million, respectively, compared with
Yen 1,257 million recurring profit and Yen 1,352 million net profit,
respectively, a year ago.
For the
current term ending Jan 2015 the recurring profit is projected at Yen 3,000
million and the net profit at Yen 2,000 million, respectively, on a 3% rise
turnover, to Yen 85,400 million. New
products of transparent/clear light weight yarns for ladies will
contribute.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Aug 2001
Regd No.: 1200-01-099371 (Osaka-Chuoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
1.2 million shares
Issued:
300,000 shares
Sum: Yen 1,500 million
Major shareholders (%): Majority owned by Takisada
families & relatives (Breakdown details unavailable)
No. of
shareholders: 79
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Trading house for import, export and
wholesale of textile fabrics, piece goods for women (60%), for men (7.7%),
women’s clothing & clothing accessories (13.4%), bed clothes, beddings, night
clothes, interior accessories (4.9%), wool, silk cloths, other textile
materials (14%). (Import/export
7%). (% are all about)
Clients: [Apparel mfrs, wholesalers] Onward
Kashiyama, World Co, Itokin, Sanyei International, other.
Exports to Europe, USA, China,
other S/E Asian countries, etc
No. of
accounts: (Wholesalers) 2,000, (Apparel makers) 700
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Teijin Ltd, Toray
Ind, Nisshinbo, Toyobo, Kuraray, Mitsubishi rayon, Fujibo Ltd, Unitika, Asahi
Kasei, Kanebo Ltd, other.
Imports from Europe, USA, China,
other S/E Asian countries.
Payment record: No
Complaints
Location:
Business area in Osaka.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Kawaramachi)
Mizuho
Bank (Semba)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
85,400 |
83,151 |
75,259 |
72,398 |
|
Recur.
Profit |
|
3,000 |
1,844 |
1,257 |
2,963 |
|
Net
Profit |
|
2,000 |
-1,989 |
1,352 |
1,293 |
|
Total
Assets |
|
|
76,891 |
71,227 |
73,856 |
|
Current
Assets |
|
|
43,256 |
40,311 |
47,090 |
|
Current
Liabs |
|
|
16,637 |
18,005 |
21,293 |
|
Net
Worth |
|
|
50,651 |
52,624 |
51,721 |
|
Capital,
Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
|
Div.P.Share(¥) |
|
|
0.00 |
10,000.00 |
15,000.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.70 |
10.49 |
3.95 |
4.89 |
|
Current Ratio |
|
.. |
260.00 |
223.89 |
221.15 |
|
N.Worth Ratio |
|
.. |
65.87 |
73.88 |
70.03 |
|
R.Profit/Sales |
|
3.51 |
2.22 |
1.67 |
4.09 |
|
N.Profit/Sales |
|
2.34 |
-2.39 |
1.80 |
1.79 |
|
Return On Equity |
|
.. |
-3.93 |
2.57 |
2.50 |
Notes:
Forecast (or estimated) figures for the 31/01/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
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|
Report Prepared
by : |
PDT |
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 |
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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 |
-- |
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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.