|
Report No. : |
309568 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIN KOGYO CO LTD |
|
|
|
|
Registered Office : |
9-11-36 Minami-Mukonosho Amagasaki City Hyogo-Pref |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.11.2014 |
|
|
|
|
Date of Incorporation : |
Dec., 1955 |
|
|
|
|
Com. Reg. No.: |
1400-01-005106 (Hyogo-Amagasaki) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of Dying Machines,
Finishing Machines, Printing Machines, Other. |
|
|
|
|
No. of Employees : |
65 |
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 |
TOSHIN KOGYO CO LTD
REGD NAME: Toshin
Kogyo KK
MAIN OFFICE: 9-11-36
Minami-Mukonosho Amagasaki City Hyogo-Pref JAPAN
Tel: 06-6438-0901 Fax: 06-6437-6423
URL: http://www.toshin-kogyo.co.jp
E-Mail address: (thru the URL)
Mfg of
dying machines, finishing machines, printing machines, other
Nil
At the
caption address
KOICHI
ICHINOSE, PRES Takako Ichinose,
mgn dir
Shiro
Ichinose, dir Tokio
Takita, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen
5,197 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 37
M
TREND UP WORTH Yen 3,180 M
STARTED 1955 EMPLOYES 65
MFR OF DYING MACHINES, OTHER.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject
company was established by father of Koichi Ichinose in order to make most of
his experience in the subject line of business.
Koichi took the pres office in Dec 2010.
This is a specialized mfr of dying machines, finishing machines,
printing machines, other industrial machinery (See OPERATION). Goods are
exported to about 100 countries worldwide, by and thru the general trading
houses. Clients include dying
processors, textile companies, general trading houses, other, nationwide
The
sales volume for Nov/2013 fiscal term amounted to Yen 5,197 million, a 5% up
from Yen 4,956 million in the previous term.
Weaker Yen contributed to the growth.
The operations came back to profitability after 3 consecutive years’
profit losses. The recurring profit was
posted at Yen 149 million and the net profit at Yen 152 million, respectively,
compared with Yen 403 million recurring loss and Yen 403 million net losses,
respectively, a year ago.
For
the term that ended Nov 2014 the recurring profit was projected at Yen 160
million and the net profit at Yen 160 million, respectively, on a 5% rise in
turnover, to Yen 5,450 million. Final
results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Dec 1955
Regd No.: 1400-01-005106
(Hyogo-Amagasaki)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 300,000 shares
Issued:
75,000 shares
Sum: Yen
37.5 million
Major shareholders (%): SMBC
(15), Koichi Ichinose (10), Takako Ichinose (10)
No. of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures dyeing machines:
automatic flat screen machines, automatic rotary screen printing machines, automatic rotary screen
applicator, flexible mfg system, film-less inkjet engraving machines, automatic
color dispensing system, twenty thirty digital inkjet printer for textile,
automatic rapid steamer, other (--80%), other industrial machines, others
(--20%)
Clients: [Mfrs, wholesalers] Itochu Corp,
Sojitz Corp, Marubeni Corp, Chori Co, Tokai Senko KK, Kanematsu Corp, Itochu
Systech Corp, Toyobo Co, Wakayama Senko Co, Nihon Keisen Co, Komatsu Seiren Co,
Urase Co, other.
Exports to: China, S/E Asia,
USA, Europe, South America, Africa, others of about 100 countries.
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Seiren
Electronics, Kinryo Electric Co, Habasit Japan, Matsuoka Seiki Kosakusho, Fuji
Electric Co, Tokyo Keiki Inc, other
Payment record: No Complaints
Location:
Business area in Amagasaki City, Hyogo-Pref.
Office premises at the caption address are owned and maintained satisfactory.
Bank References:
SMBC
(Koshienguchi)
Mizuho
Bank (Amagasaki)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/11/2014 |
30/11/2013 |
30/11/2012 |
30/11/2011 |
|
|
Annual
Sales |
|
5,450 |
5,197 |
4,956 |
4,235 |
|
Recur.
Profit |
|
160 |
149 |
-403 |
|
|
Net
Profit |
|
160 |
152 |
-403 |
-492 |
|
Total
Assets |
|
|
6,125 |
5,810 |
6,360 |
|
Current
Assets |
|
|
4,710 |
4,736 |
|
|
Current
Liabs |
|
|
1,791 |
1,571 |
|
|
Net
Worth |
|
|
3,180 |
3,030 |
3,436 |
|
Capital,
Paid-Up |
|
|
37 |
37 |
37 |
|
Div.Ttl
in Million (¥) |
|
|
2.7 |
2.7 |
2.7 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.87 |
4.86 |
17.02 |
-25.95 |
|
Current Ratio |
|
.. |
262.98 |
301.46 |
.. |
|
N.Worth Ratio |
|
.. |
51.92 |
52.15 |
54.03 |
|
R.Profit/Sales |
|
2.94 |
2.87 |
-8.13 |
.. |
|
N.Profit/Sales |
|
2.94 |
2.92 |
-8.13 |
-11.62 |
|
Return On Equity |
|
.. |
4.78 |
-13.30 |
-14.32 |
Notes:
Forecast (or estimated) figures for the 30/11/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.