MIRA INFORM REPORT

 

Report No. :

314742.2

Report Date :

16.04.2015

 

IDENTIFICATION DETAILS

 

Name :

TOHO TECHNOLOGY COPORATION

 

 

Registered Office :

Toho Bldg., 3-10-22 Sakae Nakaku Nagoya City, Aichi 450-0008

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

March, 1967

 

 

Com. Reg. No.:

1800-01-038700

 

 

Legal Form :

Not Available

 

 

Line of Business :

Mfg/Selling of industrial electronics: printed circuit boards, electro-mechanical assembles, film thikness gauges, stress measurement systems, flat panel profilers, other.

 

 

No. of Employees :

320

 

 

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

 

 

Status :

Satisfactory

 

 

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 – 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 and address

 

ENGLISH COMPANY NAME

TOHO TECHNOLOGY COPORATION

Japanese company name

TOHO TECNOLOGY KK

Registered Office

1. Street Number and District

Toho Bldg., 3-10-22 Sakae Nakaku

2. City and Perefecture

Nagoya city, Aichi

3. ZIP Code

450-0008

4. Country

JAPAN

TEL

052-251-7211

FAX

052-251-3646

URL

www.toho-tec.co.jp

Email Address

thru the URL

Activities (Services & Products)

Mfg/Selling of industrial electronics: printed circuit boards, electro-mechanical assembles, film thikness gauges, stress measurement systems, flat panel profilers, other.

 

 

SUMMARY OF REPORT

 

Annual Sales (MM YEN)

21,980

Capital Amount (MM YEN)

430

Net Worth (MM YEN)

Unavailable

FINANCES

FAIR

TREND

UP

EMPLOYEES

320

OTHER INFORMATION FOLLOWS:

Year Started

1967

Month and Year Registered

Mar. 1967

Regd No.

1800-01-038700

Major Shareholders

1

KK Tomita Kigyo (44%)

2

Employees Shareholding association (21%)

3

Other

Number of Shareholders

8

Authorized Shares

140,000

Issued Shares

40,880

Executives

PRESIDENT

HIDEYUKI TOMITA

Chairman

Kazuo Tomita

Vice President

Noboru Hayakawa

Senior Mgn Director

G Chang

Senior Mgn Director

Yasuo Watanabe

Director

Hiromi Yamazaki

Director

John Blair Coombs

Director

Nobuaki Azuma

Main Banks

1

MUFG (Nagoya)

2

Bank of Nagoya (H/O)

Relations

Satisfactory

Clients

1

Hitachi Ltd.

2

Chubu Electric Power

3

Nippon Glass Corporation

4

BOE

5

Other

Suppliers

1

Hitachi Ltd.

2

Hitachi Industrial Equipment System Corporation

3

Hitachi Building Systems

4

Hitachi Mitsubishi Hydro Corporation

5

Other

Branches

1

Tokyo

2

Toyota

3

Ogaki

4

Higashiomi (Shiga)

5

Other (total 10)

Factories

1

Inazawa (Aichi)

2

Shanghai (China)

Overseas

1

U.S.A.

2

China (2)

3

Other (total 6)

HIGHLIGHT and COMMENT

The subject company was established originally in 1932 by a certain Tomita For mfg automatic control panels, on his account, and was incorporated in 1967 and has been succeeded by his descendants. Hideyuki Tomita took the pres office in Jan 2001. Owned and operated by the Tomita family, the firm specializes in mfg electronic devices and clean systems. 80% of the goods are producted on an OEM basis. In 2005, acquired FPD business division from Nano Metrics Inc(USA) and started mfg film thickness gauges. The subject is the agent dealer in the greater-Nagoya district for Hitachi Ltd & group firms. In 2011, opened an office in Korea & Taiwan and additional offices in China. Clienets include electric powers, electric mfrs, automobile makers, other, nationwide.

FINANCIAL information

Finance partially disclosed

 The sales volume for March/2014 fiscal term amounted to Yen 21,980 million, a 10.5% up from Yen 19,889 million in the previous term.  The net profit was posted at Yen 384 million which has increased fom Yen 305 million in the previous term.

For the current term that ended March 2015, the net profit at Yen 414 million is estimated besed on a 5% rise in turnover, to Yen 23,000 million.  Final results are yet to be released.

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

 

 

Financials

 

Note: Forecast (or estimated) figures for the 31/03/2015 fiscal term

Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

Annual Sales

23,000

21,980

19,889

21,378

Recur. Profit

n/a

n/a

491

740

Net Profit

414

384

305

275

Total Assets

n/a

n/a

15,158

15,029

Net Worth

n/a

n/a

8,807

8,543

Capital, Paid-Up

n/a

n/a

430

430

Div.P.Share(¥)

n/a

n/a

n/a

n/a

<Analytical Data>

(%)

(%)

(%)

(%)

       S.Growth Rate

4.64

10.51

-6.97

..

       Current Ratio

 

..

..

..

       N.Worth Ratio

 

..

58.10

56.84

       N.Profit/Sales

1.80

1.75

1.53

1.29

 

 

Terms Ending:

31/03/2015

31/03/2014

31/03/2013

31/03/2012

31/03/2011

31/03/2010

Annual Sales

23,000

21,980

19,889

21,378

20,261

Recur. Profit

n/a

n/a

491

740

802

Net Profit

414

384

305

275

393

Total Assets

n/a

n/a

15,158

15,029

14,272

Net Worth

n/a

n/a

8,807

8,543

8,308

-1,357

Capital, Paid-Up

n/a

n/a

430

430

430

Div.P.Share(¥)

n/a

n/a

n/a

n/a

 

<Analytical Data>

(%)

(%)

(%)

(%)

(%)

(%)

       S.Growth Rate

4.64

10.51

-6.97

5.51

..

..

       Current Ratio

 

..

..

..

..

..

       N.Worth Ratio

 

..

58.10

56.84

58.21

..

       N.Profit/Sales

1.80

1.75

1.53

1.29

1.94

..

 

 

 

 

 

 

S/Hldrs' Equity

-384

-689

-964

-1,357

Div or Taxes

Offs' Bonus

Current Assets

Current Liabs

Credit Limit

134.2


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.40

UK Pound

1

Rs.92.15

Euro

1

Rs.66.48

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.