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Report No. : |
304709 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TAKAYAMA REED CO LTD |
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Registered Office : |
2-27-20 Jinguji Kanazawa Ishikawa-Pref 920-0806 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
February 1960 |
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Com. Reg. No.: |
2200-01-004100 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of reeds for weaving machines |
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No. of Employee : |
58 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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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 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.
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Source
: CIA |
TAKAYAMA
REED CO LTD
Takayama Reed KK
2-27-20 Jinguji Kanazawa Ishikawa-Pref
920-0806 JAPAN
Tel: 076-252-2266 Fax: 076-252-3134
URL: http://www.takayamareed.co.jp
E-Mail address: info@takayamareed.co.jp
Mfg of reeds for weaving
machines
Fukui
Korea, Thailand, Taiwan, China,
Italy, Canada
Ishikawa
TORU TAKAYAMA, PRES
Osamu Ishiwata, mgn dir
Ken Takayama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,451 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 49 M
TREND UP WORTH Yen 239 M
STARTED 1960 EMPLOYES 58
MFR OF REEDS FOR WEAVING MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The
subject company was established originally in 1915 by Seizo Takayama, on his
account, as a reed repair shop.
Incorporated in 1960, the firm has been succeeded by his
descendants. This is a specialized mfr
of reeds for all kind of weaving machines, including heavy looms for forming
& dryer fabrics (See OPERATION). Has 6 overseas offices: Korea, Taiwan,
Canada, Italy, China and Thailand.
Technical assistance agreement concluded with: LPL Company in Canada,
and Zenfrini SRL in Italy. Domestic
clients include major textile weaving makers, other, nationwide.
Financials
are only partially disclosed.
The
sales volume for Mar/2014 fiscal term amounted to Yen 1,451 million, a 38% up
from Yen 1,062 million in the previous term.
This is attributed to the revised orders from existing clients. The net profit was posted at Yen 38 million,
compared with Yen 3 million a year ago.
For
the current tem ending Mar 2015 the net profit is projected at Yen 40 million,
on a 3% rise in turnover, to Yen 1,500 million.
Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered:
Feb 1960
Regd No.: 2200-01-004100
(Ishikawa-Kanazawa)
Legal Status:
Limited Company
(Kabushiki Kaisha)
Authorized: 396,000
shares
Issued: 99,000
shares
Sum: Yen
49.5 million
Major shareholders (%): Toru
Takayama (34), Osamu Ishiwata (15), Employees’ S/Holding Assn (11), Katsumi
Kitamura (10)
No. of shareholders: 13
Nothing detrimental is known as
to the commercial morality of executives.
Activities:
Manufactures reeds for all kinds of weaving machines, including heavy looms for
forming & dryer fabrics: tunnel reeds, duraflex reeds, jumbo reeds,
separator combs, expansion combs, back reeds, expander straight combs, super
expander 50, hook reeds, warping reeds, ultrasonic sub-nozzle, other;
Maintenance Tools (on-loom reed cleaner, nozzle inspector, portable air
checker, ultrasonic reed cleaning machines, ultrasonic sub-nozzle cleaner,
others (--100%)
Clients:
[Mfrs, wholesalers] Tsudakoma Corp, Nippon Filcon Co, YKK Corp, Marui Orimono
Group firms, Toyota Industries Corp, Nonin Kinu (Silk), Toray Group firms,
other
No. of accounts: 300
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Nitto Hatsujo Co, Mitsubishi Plastics Inc, Sankyo Tateyama
Inc, Citizen Watch, Aica Kogyo Co, other
Payment record: No Complaints
Location:
Business area in Kanazawa. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hokuriku
Bank (Higashi-Oodori)
MUFG
(Kanazawa-Chuo)
Relations:
Satisfactory
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual Sales |
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1,500 |
1,451 |
1,052 |
1,101 |
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Recur. Profit |
|
.. |
.. |
.. |
.. |
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Net Profit |
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40 |
35 |
3 |
10 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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239 |
215 |
212 |
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Capital, Paid-Up |
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|
49 |
49 |
49 |
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Div.Ttl in Million (¥) |
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4.6 |
0.00 |
2.4 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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3.38 |
37.93 |
-4.45 |
2.32 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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2.67 |
2.41 |
0.29 |
0.91 |
Notes: Financials are only
partially disclosed.
Forecast (or estimated) figures
for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
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|
1 |
Rs.92.16 |
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Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
-- |
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.