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Report No. : |
305929 |
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Report Date : |
02.02.2015 |
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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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 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 |
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 |
|
2011 |
9,738,826,000 |
loss 255,376,000 |
|
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.
*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.61.88 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.