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Report No. : |
335971 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TOYO SEIKAN CO LTD |
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Registered Office : |
Osaki Forest Bldg, 2-18-1 Higashi-Gotanda Shinagawaku Tokyo 141-0022 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
April, 2012 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of Food/ Beverage Containers, Plastic Bottles. |
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No. of Employees : |
3,911 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 an
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. Scarce in many
natural resources, Japan has long been dependent on imported raw materials.
Since the complete shutdown of Japan’s nuclear reactors after the earthquake
and tsunami disaster in 2011, Japan's industrial sector has become even more
dependent than it was previously on imported fossil 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 impressive - 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 aftereffects 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 four times since 2008.
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 of that year disrupted
manufacturing. The economy has largely recovered in the four years since the
disaster, although reconstruction in the affected Tohoku region has lagged, in
part due to a shortage of labor in the construction sector. Japan enjoyed a
sharp uptick in growth in 2013 on the basis of Prime Minister Shinzo Abe’s
“Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of
monetary easing, “flexible” fiscal policy, and structural reform. Abe’s
government has replaced the preceding administration’s plan to phase out
nuclear power with a new policy of seeking to restart nuclear power plants that
meet strict new safety standards, and emphasizing nuclear energy’s importance
as a base-load electricity source. Japan joined the Trans-Pacific Partnership
(TPP) 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 2014 stood as the fourth-largest economy in the
world after first-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. While seeking to stimulate and reform the
economy, the government must also devise a strategy for reining in Japan's huge
government debt, which amounts to more than 230% of GDP. To help raise
government revenue, Japan adopted legislation in 2012 to gradually raise the
consumption tax rate to 10% by 2015, beginning with a hike from 5% to 8%
implemented in April 2014. That increase had a contractionary effect on GDP,
however, so PM Abe in late 2014 decided to postpone the final phase of the
increase until April 2017 to give the economy more time to recover. Led by the
Bank of Japan’s aggressive monetary easing, Japan is making progress in ending
deflation, but demographics - low birthrate and an aging, shrinking population
- pose major long-term challenges for the economy.
|
Source
: CIA |
TOYO SEIKAN CO LTD
REGD NAME: Toyo
Seikan KK
MAIN OFFICE: Osaki
Forest Bldg, 2-18-1 Higashi-Gotanda Shinagawaku Tokyo 141-0022
JAPAN
Tel: 03-4514-2300 Fax: 03-3280-8111
URL: http://www.toyo-seikan.co.jp
E-Mail address: (thru the URL)
Mfg of
food/beverage containers, plastic bottles, etc
Saitama, Yokohama,
other (Tot 2)
China, other
(--business partners)
Hokkaido, Miyagi, Ibaraki,
Saitama, other (Tot 14)
ICHIRO NAKAYAMA,
PRES Masahiko Yokogawa, s/mgn dir
Shuji Mizono, mgn
dir Toshio Sue, mgn dir
Keiji Nakai, mgn
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 297,534 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 1,000 M
TREND SLOW WORTH Yen 251,229 M
STARTED 2012 EMPLOYES 3,911
MFG OF FOOD/BEVERAGE CONTAINERS, OTHER.
FINANCIAL SITUATION CONSIDERED FAIR AND
GOOD.
This is the
top-ranked mfr of food/beverage containers and plastic bottles, maintaining overwhelming market share. First specialized can producer set up in 1917. Current firm
emerged from 1941 merger of 7
can makers. Moved into plastic containers
in 1962. Strong in overseas business, having mfg factories in China, Asia, USA, other. In Apr 2013, the
firm founded a holding company, Toyo Seikan Group Holdings Ltd (See REGISTRATION), and became its
subsidiary, but in 2012 separated as an independent firm under the holding
company.
The sales volume
for Mar/2015 fiscal term amounted to Yen 297,354 million, a 6% down from Yen
318,122 million in the previous term. The recurring profit was posted at Yen
2,379 million and the net losses at Yen 9,611 million, respectively, compared
with Yen 8,611 million recurring profit and Yen 1,985 million net losses,
respectively, a year ago. The deficit for the term includes extraordinary
losses at Yen 9,915 million.
For the current
term ending Mar 2016 the recurring profit is projected at Yen 2,400 million and
the net profit at Yen 1,000 million, respectively, on a 3% rise in turnover, to
Yen 306,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 2012
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized:
80,000 shares
Issued: 20,000 shares
Sum: Yen 1,000 million
Major
shareholders (%): Toyo Seikan Group Holdings Ltd* (100)
*.. Holding Company, founded
2013, listed Tokyo S/E, capital Yen 11,094 million, sales Yen 784,362 million, operating profit Yen 15,080 million, recurring profit Yen 23,851 million, net
profit Yen 3,604 million, total assets Yen 1,137,899 million, net worth Yen 641,885 million, employees 18,446, pres
Takao Nakai
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
food/beverage containers, plastic bottles, machinery for food packaging &
packaging systems, other (--100%)
(Items
manufactured):
Beverage
Packaging: cans, PET bottles;
Food Packaging: cans, plastic
bottles, cups, pouches;
Lifestyle %
Household Products: plastic bottles, pouches, aerosol cans;
Industrial Use
Cans; cans, other
Clients: [Mfrs,
wholesalers] Suntory Business Expert, Asahi Soft Drinks, UACJ, Itoen, Coca Cola
Business Service, Asahi Brewery, other
No. of accounts: 350
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Toyo Kohan, Sumitomo Corp, Mitsui & Co, UACJ, Mitsubishi Shoji
Plastic, other
Payment
record: Slow but correct
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References:
SMBC (Hibiya)
MUFG
(Toranomon-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
|
|
Annual
Sales |
|
306,500 |
297,534 |
318,122 |
|
Recur.
Profit |
|
2,400 |
2,379 |
8,611 |
|
Net
Profit |
|
1,000 |
-9,611 |
-1,985 |
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Total
Assets |
|
|
330,746 |
340,609 |
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Current
Assets |
|
|
152,979 |
174,654 |
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Current
Liabs |
|
|
67,254 |
70,459 |
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Net
Worth |
|
|
251,229 |
254,956 |
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Capital,
Paid-Up |
|
|
1,000 |
1,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
3.01 |
-6.47 |
.. |
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Current Ratio |
|
.. |
227.46 |
247.88 |
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N.Worth Ratio |
|
.. |
75.96 |
74.85 |
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R.Profit/Sales |
|
0.78 |
0.80 |
2.71 |
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N.Profit/Sales |
|
0.33 |
-3.23 |
-0.62 |
|
Return On Equity |
|
.. |
-3.83 |
-0.78 |
Notes: The 31/03/2014 is the first accounting term
since reorganized.
Forecast (or
estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.