MIRA INFORM REPORT

 

 

Report No. :

315636

Report Date :

10.04.2015

 

IDENTIFICATION DETAILS

 

Name :

TOYO KOGYO CO LTD

 

 

Registered Office :

8-9 Mochibukucho, Yokkaichi city, Mie, 510-8012

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

December 1937

 

 

Com. Reg. No.:

1900-01-015681

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Manufacturing/Selling/Exporting of industrial machines, processing of industrial pulps and metalworking, other.

 

 

No. of Employees :

54

 

 

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 :

Slow but correct

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

 

Company name & address

 

ENGLISH COMPANY NAME

TOYO KOGYO CO LTD

Japanese company name

TOYO KOGYO KK

Registered Office

1. Street Number and District

8-9 Mochibukucho

2. City and Perefecture

Yokkaichi city, Mie

3. ZIP Code

510-8012

4. Country

JAPAN

TEL

059-364-2341

FAX

059-363-1232

URL

www.netoyo.co.jp/

Email Address

thru the URL

Activities (Services & Products)

Mfg/Selling/Exporting of industrial machines, processing of industrial pulps and metalworking, other.

 

 

 

 

 

SUMMARY OF REPORT

Annual Sales (MM YEN)

920

*It is actual results of 2013 fiscal term.

Capital Amount (MM YEN)

20

Net Worth (MM YEN)

Unavailable

FINANCES

FAIR

TREND

STABLE

EMPLOYEES

54

OTHER INFORMATION FOLLOWS:

Year Started

1937

Year Registered

Dec. 1937

Regd No.

1900-01-015681

Legal Status

Limited Company (Kabushkikaisha)

Major Shareholders

1

Kansaku Ito

2

Akira Ito

3

Other

Number of Shareholders

16

Authorized Shares

1,612,800

Issued Shares

403,200

　 Sum

Executives

PRESIDENT

AKIRA ITO

Chairman

Kansaku Ito

Director

Hiroyuki Shirota

Director

Kimio Hasegawa

Director

Michio Hirose

Main Banks

1

MUFG (Kuwana)

2

Shoko Chukin Bank (Yokkaichi)

Relations

Satisfactory

Clients

1

Oversea's steel manufacturers

2

Komatsu NTC Co., Ltd.

3

Fuji Electric Co., Ltd.

4

Hitachi Valve Ltd.

5

Other

Suppliers

1

Toyo Denki Co., Ltd.

2

Hitachi Valve, Ltd.

3

Kohomabo Co.,Ltd.

4

HRD Inc.

5

Other

Branches

1

None

Factories

1

Yokkaichi

2

China

Overseas

1

None

HIGHLIGHT and COMMENT

The subject company was established in 1937.                                                            It manufactures/exports/sells of industrial machines such as rope making machines, netting machines and systems of maintenance for motor vechile test, and processes indsturial pupls, etc. It also undertakes all sorts of metalworking and cutting.  With respect to its fishing net machine, more than 3,000 machines has been supplied to the fishing net factories in the world.                                                                                    

FINANCIAL information

Any figures below for the fiscal term of 2014 and 2015  are estimates.
And the net profit in 2013 has not been disclosed.  It is also estimates.

 The sales volume for May/2014 fiscal term amounted to Yen 920 million, flat from Yen 920 million in the previous term. The net profit amounted at Yen 55 million which is also flat from the previous year.

 For the current term ending May 2015, the turnover and  the net profit are estimated to be similar to the level of 2013 and 2014. Final results are yet do be released.


The financial situation is considered fair and good for ORDINARY business engagements. 

PLEASE ATTACH THE FINANCIALS BELOW.

Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

Annual Sales

920

920

920

1,447

Recur. Profit

 

 

 

 

Net Profit

55

55

55

88

Total Assets

 

 

 

 

Net Worth

 

 

 

 

Capital, Paid-Up

 

 

 

 

Div.P.Share(¥)

 

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

0.00

0.00

-36.42

#DIV/0!

       Current Ratio

 

..

..

..

       N.Worth Ratio

 

..

..

..

       N.Profit/Sales

6.00

6.00

6.00

6.08

 

 

filename (English Title)

 

 

 

 

 

Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

920

920

920

1,447

1,360

Recur. Profit

 

 

 

 

..

Net Profit

55

55

55

88

135

Total Assets

 

 

 

 

 

Net Worth

 

 

 

 

-198

-333

Capital, Paid-Up

 

 

 

 

 

Div.P.Share(¥)

 

0.00

0.00

0.00

 

<Analytical Data>

(%)

(%)

(%)

(%)

(%)

(%)

       S.Growth Rate

0.00

0.00

-36.42

6.40

#DIV/0!

#DIV/0!

       Current Ratio

 

..

..

..

..

..

       N.Worth Ratio

 

..

..

..

..

..

       N.Profit/Sales

6.00

6.00

6.00

6.08

9.93

#DIV/0!

 

 

 

 

 

 

 

S/Hldrs' Equity

-55

-110

-198

-333

Div or Taxes

Offs' Bonus

Current Assets

Current Liabs

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.26

UK Pound

1

Rs.92.49

Euro

1

Rs.66.99

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.