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Report No. : |
329676 |
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Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
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Name : |
TOHO INTERNATIONAL INC |
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Registered Office : |
Orix Honmachi Bldg 2F, 1-4-1 Nishi-Honmachi Nishiku Osaka 550-0005 |
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Country : |
Japan |
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Financials (as on) : |
30.09.2014 |
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Date of Incorporation : |
Jan., 1988 |
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Com. Reg. No.: |
1200-01-085415 (Osaka-Nishiku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Export of Wire & Spring; Import of Wire/Cable Making Equipment
& Tools. |
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No. of Employees : |
33 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 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 second-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.
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Source
: CIA |
TOHO INTERNATIONAL INC
REGD NAME: Toho
International KK
MAIN OFFICE: Orix Honmachi Bldg 2F,
1-4-1 Nishi-Honmachi Nishiku Osaka 550-0005 JAPAN
Tel: 06-6243-4561 Fax: 06-6243-4565
URL: http//:www.toho-intl.co.jp
E-mail: export@toho-intl.co.jp;
import@toho-intl.co.jp
Export of wire
& spring; import of wire/cable making equipment & tools
Tokyo, Utsunomiya
(Tochigi)
Singapore
HIROFUMI NAKAZAKI,
PRES Taeko Nakamura, dir
Yoshiro Kawamoto,
dir Rieko Nakazaki, dir
Yen Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 2,094 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 30 M
TREND UP WORTH Yen 345 M
STARTED 1988 EMPLOYES 33
TRADING FIRM
SPECIALIZING IN WIRE & SPRING AND TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company
was established by Hirofumi Nakazaki in order to make most of his experience in the subject line of business. This is a trading
firm for import and export of precision wire & spring, wire/spring making
tools & equipment (See OPERATION).
Exports to Singapore, Hong Kong, China, other S/E Asian countries, and imports
from USA, Europe, other. Has an office
in Singapore. Domestic clients include
major electric Ind, other
The sales volume
for Sept/2014 fiscal term amounted to Yen 2,094 million, a 15% up from Yen
1,805 million in the previous term. The
recurring profit was posted at Yen 63 million and the net profit at Yen 62
million, respectively, compared with Yen 61 million recurring profit and Yen 41
million net profit, respectively, a year ago.
.
For the current
term ending Sept 2015 the recurring profit is projected at Yen 65 million and
the net profit at Yen 65 million, respectively, on a 5% rise in turnover, to
Yen 2,200 million. Weaker Yen will raise
export revenues in Yen terms.
Financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1988
Regd No.:
1200-01-085415 (Osaka-Nishiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders (%): Hirofumi Nakazaki (67), Employees’ S/Holding
Assn (10), Taeko Nakamura (5), other
No. of shareholders: 5
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Exports
precision various types of wire & spring, spring wire, strips for spring,
other (--60%); imports wire/spring making tools/equipment, such as wire drawing
dies, cold pressure welders, precision die tools, optical instruments for die
& wire measurement, other (--40%).
Exports oil tempered alloy & stainless steel wire for important
parts of a car, such as valve spring of an engine, suspensit9n springs in automobile.
Clients: [Mfrs,
wholesalers] Sumitomo Electric Ind, Bridgestone Corp, Furukawa Electric Ind,
Tokusen Corp, other.
Exports to Hong Kong, China, Singapore, India, other S/E Asian countries
No.
of accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Murata Machinery, Sumitomo Electric Ind, Nippon Seisen Co, Tokusen
Corp, Hitachi Ltd Group firms, Fort Wayne Wire Die Inc, Nas Stainless Steel
Strip Mfg, other.
Imports from USA, Europe, other.
Payment
record: No complaints
Location: Business area in Osaka. Office premises at the caption address are leased
and maintained satisfactorily.
Bank
References
Mizuho Bank
(Semba)
Kinki Osaka Bank
(Joto)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
30/09/2015 |
30/09/2014 |
30/09/2013 |
30/09/2012 |
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Annual
Sales |
|
2,200 |
2,094 |
1,805 |
1,857 |
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Recur.
Profit |
|
65 |
63 |
61 |
93 |
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Net
Profit |
|
65 |
62 |
41 |
56 |
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Total
Assets |
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1,619 |
1,303 |
1,191 |
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Current
Assets |
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1,323 |
1,027 |
955 |
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Current
Liabs |
|
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1,046 |
866 |
730 |
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Net
Worth |
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|
345 |
324 |
297 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.06 |
16.01 |
-2.80 |
-6.02 |
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Current Ratio |
|
.. |
126.48 |
118.59 |
130.82 |
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N.Worth Ratio |
|
.. |
21.31 |
24.87 |
24.94 |
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R.Profit/Sales |
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2.95 |
3.01 |
3.38 |
5.01 |
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N.Profit/Sales |
|
2.95 |
2.96 |
2.27 |
3.02 |
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Return On Equity |
|
.. |
17.97 |
12.65 |
18.86 |
Notes: Forecast (or estimated) figures for the
30/09/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.60 |
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|
1 |
Rs.100.09 |
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Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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.