|
Report No. : |
357740 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
C T TAKAHASHI & CO LTD |
|
|
|
|
Registered Office : |
Higashi-Ueno Koike Bldg 4F,
2-22-10 Higashi-Ueno Taitoku Tokyo 110-0015 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
Jun 1952 |
|
|
|
|
Com. Reg. No.: |
0105-01-029257 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Imports, exports and
wholesales power plant equipment, chemicals (adhesives, coatings, silicon,
other), cables. Connectors, plugs, other (--100%) |
|
|
|
|
No. of Employee : |
12 |
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 : |
Small Company |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 |
C T TAKAHASHI & CO LTD
REGD NAME: C. T. Takahashi KK
MAIN OFFICE: Higashi-Ueno Koike Bldg 4F, 2-22-10
Higashi-Ueno Taitoku Tokyo 110-0015
JAPAN
Tel: 03-5818-2651
Fax: 03-5818-2656
URL: http://www.cttok.com
E-Mail
address: (thru the URL)
Import,
export, wholesale of paper-making machinery, industrial equipment
Nil
USA
MASAYUKI
MOROMI, PRES Fumihiro Takatsuka, dir
Toshiyasu
Kaji, dir Tomio
Tanimura, dir
Robert
Umeda, dir C Y Tin,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 1,263 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 320 M
STARTED 1952 EMPLOYES 12
TRADING FIRM SPECIALIZING IN MACHINEY & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by C T Takahashi, USA
(presided by Tetsuji Takahashi), as its Japan marketing office in prewar
days. The Japan office was incorporated
in 1952. This is a trading firm for
import; export and wholesale of paper-making machinery & equipment (see OPERATION). Clients include major paper mills, electronic
mfrs, nationwide.
The sales volume for Mar/2015 fiscal term amounted to Yen
1,263 million, a 5% up from Yen 1,204 million in the previous term. Orders increased from Toshiba group firms and
sales rose. The weaker Yen also
contributed to raise earnings in Yen terms.
The recurring profit was posted at Yen 11 million and the net profit at
Yen 9 million, respectively, compared with Yen 18 million recurring profit and
Yen 12 million net profit, respectively, a year ago.
For the current term ending Mar 2016 the recurring profit is
projected at Yen 15 million and the net profit at Yen 10 million, respectively,
on a 5% rise in turnover, to Yen 1,330 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Jun 1952
Regd No.: 0105-01-029257
(Tokyo-Taitoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued:
60,000 shares
Sum: Yen
30 million
Major shareholders (%): C T Takahashi & Co (USA) (48), Masayuki Moromi (14),
Fumihiro Takatsuka (7)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales power
plant equipment, chemicals (adhesives, coatings, silicon, other), cables.
Connectors, plugs, other (--100%)
Clients: [Mfrs, wholesalers] Toshiba Hokuto
Electronics Corp (40%), Toshiba Corp (20%), Toshiba Electron Tubes % Devices Co
(10%), Nippon Paper Papylia Co, Kowa Kogyosho, Kitakami Paper Co, other
No. of accounts: 350
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] C T Takahashi
& Co (USA) (60%), Voith IHI Paper Technology Co (20%), Thomas Electronics EU,
Overseas System Co, other
Payment record: No complaints
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Marunouchi)
Shoko Chukin Bank (Tokyo)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
|
Annual Sales |
|
1,330 |
1,263 |
1,204 |
1,138 |
|
Recur. Profit |
|
15 |
11 |
18 |
-15 |
|
Net Profit |
|
10 |
9 |
12 |
-16 |
|
Total Assets |
|
|
720 |
704 |
606 |
|
Current Assets |
|
|
682 |
329 |
569 |
|
Current Liabs |
|
|
37 |
36 |
233 |
|
Net Worth |
|
|
320 |
313 |
301 |
|
Capital, Paid-Up |
|
|
30 |
30 |
30 |
|
Div.Ttl in Million (¥) |
|
|
18 |
0.00 |
2.1 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.30 |
4.90 |
5.80 |
-53.25 |
|
Current Ratio |
|
.. |
1,843.24 |
913.89 |
244.21 |
|
N.Worth Ratio |
|
.. |
44.44 |
44.46 |
49.67 |
|
R.Profit/Sales |
|
1.13 |
0.87 |
1.50 |
-1.32 |
|
N.Profit/Sales |
|
0.75 |
0.71 |
1.00 |
-1.41 |
|
Return On Equity |
|
.. |
2.81 |
3.83 |
-5.32 |
Notes:
Forecast (or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
YEN |
1 |
Rs.0.55 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.