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Report No. : |
299562 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TAIYO INTERNATIONAL CORPORATION |
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Registered Office : |
Shirokaneda Kowa Bldg. 6F., 2-9-6, Shirokanedai, Minato-Ku, Tokyo
108-0071 |
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Country : |
Japan |
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Date of Incorporation : |
23.04.1991 |
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Com. Reg. No.: |
0104-01-017518 |
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Legal Form : |
Private Company |
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Line of Business : |
· Trader of Machinery · Fluid Control Equipment · Other industrial equipment and devices |
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No. of Employees : |
23 |
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$ 90,000 |
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Status : |
Moderate |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
TAIYO
INTERNATIONAL CORPORATION
Country: Japan
Company name: TAIYO INTERNATIONAL CORPORATION
Name in local language: TAIYO
INTERNATIONAL K.K.
Office address: Shirokaneda Kowa Bldg. 6F.,
2-9-6, Shirokanedai, Minato-ku,
Tokyo 108-0071
Office tel: 03-5791-2511
Office fax: 03-3280-5411
Website: www.tic-tokyo.co.jp
Business type: Trader
Industry: Machinery
Established: April 23, 1991
Capital: Jp.
67,000,000 yen
Employees: 23
Corporate formation: Private
Corporation No.: 0104-01-017518
(Tokyo Legal Affairs Bureau)
Paid in capital : Jp.
67,000,000 yen
Number of authorized shares : 4,000
shares
Shares issued : 1,340
shares
Number of shareholder : 4
Name of
shareholders Number of shares (%)
-----------------------------------------------------------------------------------------------------------
Mr. Hiroyuki Sawada, president 730 shares (54.5)
Taiyo International Corp.(treasury stock) 272 shares (20.3)
Mr. Keishiro Sawada, senior managing director 258 shares (19.3)
Mr. Yasuhiro Kitaura, auditor 80 shares ( 6.0)
-----------------------------------------------------------------------------------------------------------
Total 1,340 shares (100.0)
Activity Product/Service
Description
-------------------------------------------------------------------------------
Trading Fluid control equipment
Trading Other industrial
equipment and devices
President Mr. Hiroyuki Sawada
Nationality: Japan
Senior Managing Director Mr.
Keishiro Sawada
Nationality: Japan
Director Mr. Munehisa Kakinoki
Nationality: Japan
Auditor Mr. Yasuhiro
Kitaura
Nationality: Japan
Note: The names of director(s) and auditor(s) are phonetically spelt.
*Key Personnel*
==============
Mr. Hiroyuki Sawada
President and representative director
Born on September 7, 1932
Home address: 2-3-9, Naka-cho, Setagaya-ku, Tokyo 158-0091
Currency: (local
currency - Jp. yen)
-------------------------------------------------------------------------------------
Year |
Sales | Net Income
-------------------------------------------------------------------------------------
|
2009 |
748,241,000 |
10,854,000 |
|
2010 |
612,868,000 |
7,478,000 |
|
2011 |
645,610,000 |
20,073,000 |
|
2012 |
680,314,000 |
5,107,000 |
|
2013 |
625,056,000 |
21,773,000 |
|
2014 |
658,140,000 |
9,346,000 |
*Book Closing*
============
March 31st
*Financials*
==========
As a private limited company, no official financial statement is required
to be disclosed publicly.
*Bank Details*
============
Bank Name : Bank of
Tokyo-Mitsubishi UFJ, Ltd.
Branch : Mita
Bank Name : Mizuho Bank, Ltd.
Branch : Shinbashi-chuo
Bank Name : Resona Bank, Ltd.
Branch : Tamachi
*Credit Opinion*
=============
Subject is a Tokyo-based firm specializing in import and sales of
primarily fluid control equipment with 23-year business history.
Sales has been almost flat or declining for recent years but a certain
level of net income has been managed.
While many excellent and big companies are listed as its customers in
its website, its business size looks too small for its array of such huge
corporations.
Our local researcher judges the list we have made as its direct buyers
should be real customers.
At any rate there would be a certain amount of retained earnings though
the exact financial condition is not available due to non-disclosure of its
financial statements.
A concern might be a weaker currency for the subject, which depends on
only import business.
Our standard suggestion would be up to US$ 90,000 on terms of 90 days.
Branch name: Osaka sales office
Branch address: Higashi-nakajima, Higashi-yodogawa-ku,
Osaka-shi
*Main Products
& Services*
======================
Import and sales of the following machines and equipment:
-
Fluid
controller
-
Magnetic
valves
-
Suction
machine
-
Pressure
adjuster
-
Cylinder
-
Pumps
-
Seal
and packing
-
Water
quality controller
-
Shock
absorber
-
Screw
pump
-
Air
motor
-
Precision
regulator
Products center(warehouse) : Ichikawa-shi, Chiba pref.
*Address*
=========
Registered address is the same as the operational address.
*Company History*
================
Date Development
-----------------------------------------------------------------------------------------------
April 23, 1991 Incorporated.
*Suppliers*
Norgen GmbH(Germany)
Buschjost GmbH(ditto)
Mueller Co-Ax AG(ditto)
H. Holtzapfel GmbH(ditto)
Waler Hunger Gmbh & Co., KG(ditto)
ProMinent Dosiertechnik GmbH(ditto)
OLEO International Ltd.(UK)
Insert Deal s.r.l(Italy)
Danfoss A/S(Denmark)
KRAL AG(Austria)
Ingersol-Rand Company(ARO)(USA)
Norgen Inc.(ditto)
*Customers*
Nichiden Corp.
Seiwa Corp.
TAITO Corp.
Meiji Kikai Seisakusho Co., Ltd.
Kokko Inc.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.