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Report No. : |
337857 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TAJIMA INDUSTRIES LTD. |
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Registered Office : |
Tajima Bldg. 3-19-22, Shirakabe, Higashi-ku, Nagoya-shi, Aichi pref.
461-0011 |
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Country : |
Japan |
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Date of Incorporation : |
06.05.1970 |
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Com. Reg. No.: |
1800-01-017306 (Nagoya ) |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in Sales and export
of Automated Multi-Head Embroidery Machines bearing the Brand name “Tajima”. |
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No of Employees : |
54 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Moderate |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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.
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Source : CIA |
TAJIMA INDUSTRIES
LTD.
Company name: TAJIMA INDUSTRIES LTD.
Name in local language: TAJIMA
KOGYO K.K
Office address: Tajima Bldg. 3-19-22, Shirakabe,
Higashi-ku, Nagoya-shi, Aichi pref. 461-0011
Country: Japan
Office tel: 052-932-3811/3445
Office fax: 052-932-0899/3449
Website: www.tajima.com
Business type: Trader
Industry: Embroidery
machines
Established: May 6, 1970
Capital: Jp. 65,500,000 yen
Employees: 54
Corporate formation: Private
Corporation No.: 1800-01-017306
(Nagoya Legal Affairs Bureau)
Paid in capital : Jp.
65,500,000 yen
Number of authorized shares : 256,000
shares
Shares issued : 131
,000 shares
Number of shareholder : 15
Name of shareholders
Number of shares (%)
--------------------------------------------------------------------------------------------
T.I.K. Corp. 20,000
shares (15.3)
Mr. Hitoshi Tajima, President 12,791
shares ( 9.8)
Employees shareholders fund n. a.
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Embroidery machines
President Mr. Hitoshi Tajima
Nationality: Japan
Vice President Mr.
Kenji Tajima
Nationality: Japan
Director Ms.
Hitomi Tajima
Nationality: Japan
Director Ms.
Ikumi Kojima
Nationality: Japan
Director Mr.
Minoru Tominaga
Nationality: Japan
Director
Mr.
Yoshinobu Nakamura
Nationality: Japan
Director Mr. Hideki Tajima
Nationality: Japan
Auditor Mr. Ktsumi Oshima
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
Mr. Hitoshi Tajima
President and representative director
Born on September 11, 1942
Home address: 3-19, Machikita, Moriyama-ku, Nagoya-shi 463-0074
Currency: (local currency - Jp. yen)
-------------------------------------------------------------------------------------
Year | Sales | Net Income
-------------------------------------------------------------------------------------
|
2008 |
17,827,638,000 |
346,489,000 |
|
2009 |
9,560,257,000 |
loss 54,241,000 |
|
2010 |
5,598,000,000 |
loss 443,519,000 |
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2011 |
9,738,826,000 |
loss 255,376,000 |
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2012 |
7,899,657,000 |
loss 362,436,000 |
|
2013 |
6,391,000,000 |
483,000,000 |
|
2014 |
8,498,000,000 |
337,000,000 |
*Book Closing*
============
End of February
*Financials*
==========
As a private limited company, no official financial statement is
required to be disclosed publicly.
Bank Name : Chukyo Bank, Ltd.
Branch : Daikan-cho
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Higashi
The subject was originally founded as a sales company of Tajima
multi-head automated embroidery machines, but became as a core company of
Tajima group business.
When it comes to an automated embroidery machine, the name, “TAJIMA” is
well-known rather among overseas customers.
Performance has been picking up since it hit a bottom in 2010 when
Japanese currency was appreciated.
The sales, however, has not reached the level of heyday as the group
shifted its production base out of Japan.
Although the exact financial condition is not available due to
non-disclosure of its financial statements, there may be a certain amount of
retained earnings.
Negative factors are not observed in particular at present.
Our standard suggestion would be up to US$ 300,000 on terms of 90 days.
*Main Products & Services*
======================
Engaged in Sales and export
of Automated Multi-Head Embroidery Machines bearing the Brand name “Tajima”
Production is conducted by affiliated companies at home and abroad.
*Address*
Registered address is the same as the operational address.
Date Development
-----------------------------------------------------------------------------------------------
April 1944 Founded “Tokai Industrial Machine Co.,
Ltd.,” aiming at sales and
repair of
industrial sewing machines.
March 1964 The above company invented a multi-head
automated embroidery
machine.
May 6, 1970 The subject incorporated under the
current company name as a sales
firm of the above machines.
February
1990 Founded “Tajima America Corp.”
November 2004 Shanghai Tajima Precision Machine Co.,
Ltd. in China.
November 2008 Founded a subsidiary, “TM Koki Co., Ltd.”
in Japan.
September 2011 Founded “Tajima Europe S.A.R.L.” in France.
July 2013 Founded “Tajima Do Brasil Ltda.” In
Brazil.
*Suppliers*
==========
Tokai Industrial Machines Co., Ltd.
Pals Micro Systems Inc.
*Customers*
==========
Naka-Nippon Juki Co., Ltd.
Yokoyama Special Machines Co., Ltd.
Seiken Corporation
Export to more than 100 countries
Company name: Tokai Industrial Machines Co., Ltd.
Country: Japan
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Tajima America Corporation
Country: U.S.A.
Status: Affiliate
----------------------------------------------------------------------------------------------------
Company name: Shanghai Tajima Precision Machines Co., Ltd.
Country: China
Status: Affiliate
----------------------------------------------------------------------------------------------------
*Subsidiaries & Affiliates*
=====================
As of February 28, 2014 the subject owns and controls a total of five
affiliates at home and abroad.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.24 |
|
|
1 |
Rs.102.21 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
ASH |
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.