MIRA INFORM REPORT
|
Report No. : |
322732 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTA TSUSHO INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
STEEL AND LOGISTICS CENTRE PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 33 and 34, Bidadi Industrial Area, Ramanagara Taluk and District, Ramanagara – 562109, Karnataka |
|
Tel No.: |
91-80-40823156 / 40823100 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
01.04.1999 |
|
|
|
|
Com. Reg. No.: |
08-025012 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2517.084 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27105KA1999PTC025012 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
0799000973 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS6230N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in providing logistics support services, steel services including dealing in automobile parts and components, compounding of polypropylene granules. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 796000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “TOYOTA TSUSHO CORPORATION, JAPAN”. It is
an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-80-40823100)
LOCATIONS
|
Registered Office / Head Office : |
Plot No. 33 and 34, Bidadi Industrial Area, Ramanagara Taluk
and District, Ramanagara – 562109, Karnataka, India |
|
Tel. No.: |
91-80-40823156 / 40823100 / 40823150 |
|
Fax No.: |
91-80-40823114 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 31.07.2014
|
Name : |
Mr. Shizuka Hayashi |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
4-39-2-102, Tamagawa Setagaya Ku Tokyo 1580094 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.10.1957 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2013 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03316927 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tatsuya Watanuki |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
110 1-Chome Hongo Meito-Ku Nagoya Aichi Prefecture 4650024 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.07.1963 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05202492 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kazuma Michikita |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Brigade Gateway, No.E1204, LEO Block, 12th Floor, 26/1 Dr Raj Kumar Road, Malleswaram West, Bangalore - 560055, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.05.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06711054 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. A Murali |
|
Designation : |
Secretary |
|
Address : |
Shree Mangaladevi, No.24, 2nd Main, 2nd Cross,
Kathriguppe (East), BSK 3rd Stage, Bangalore, Karnataka – 560085,
Karnataka, India |
|
Date of Birth/Age : |
19.03.1971 |
|
Date of Appointment : |
01.04.2001 |
|
PAN No.: |
AGKPM5499D |
|
Voter ID No.: |
XHL3481470 |
|
|
|
|
Name : |
Mr. Manjunath |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS
As on 31.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Toyota Tsusho Corporation, Japan |
|
251708376 |
|
Toyota Tsusho Singapore Pet. Limited, Singapore |
|
10 |
|
Total |
|
251708386 |
Equity Share Break up (Percentage of Total Equity)
As on 31.07.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in providing logistics support services, steel services including dealing in automobile parts and components, compounding of polypropylene granules. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
-- |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
-- |
||||||||||
|
|
|
||||||||||
|
Exports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Imports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
Information denied by management |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2 Richmond Road, Bangalore - 560025, Karnataka, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding
Company : |
|
|
|
|
|
Fellow
Subsidiary Company : |
|
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
CIN No.: U66010KA2008PTC045231 |
CAPITAL STRUCTURE
As on 31.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
251708386 |
Equity Shares |
Rs.10/- each |
Rs.2517.084 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
251708386 |
Equity Shares |
Rs.10/- each |
Rs.2517.084 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2,517.084 |
2,517.084 |
1,591.000 |
|
(b) Reserves & Surplus |
270.234 |
564.067 |
613.291 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2,787.318 |
3,081.151 |
2,204.291 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
266.157 |
400.453 |
534.946 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1,383.651 |
979.238 |
0.000 |
|
(d) long-term
provisions |
22.111 |
4.651 |
6.244 |
|
Total Non-current
Liabilities (3) |
1,671.919 |
1,384.342 |
541.190 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
650.219 |
180.000 |
0.000 |
|
(b) Trade
payables |
1,870.757 |
2,407.593 |
2,716.754 |
|
(c) Other
current liabilities |
316.683 |
754.001 |
469.897 |
|
(d) Short-term
provisions |
28.608 |
23.795 |
18.263 |
|
Total Current
Liabilities (4) |
2,866.267 |
3,365.389 |
3,204.914 |
|
|
|
|
|
|
TOTAL |
7,325.504 |
7,830.882 |
5,950.395 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4,408.720 |
3,230.995 |
1,552.782 |
|
(ii)
Intangible Assets |
46.837 |
62.439 |
80.200 |
|
(iii)
Capital work-in-progress |
15.203 |
1,289.235 |
591.435 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
55.093 |
28.069 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
53.955 |
|
(d) Long-term Loan and Advances |
207.042 |
101.715 |
83.897 |
|
(e) Other
Non-current assets |
38.711 |
60.479 |
109.250 |
|
Total Non-Current
Assets |
4,771.606 |
4,772.932 |
2,471.519 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,192.830 |
1,317.616 |
1,179.094 |
|
(c) Trade
receivables |
1,049.624 |
1,438.727 |
1,477.219 |
|
(d) Cash
and cash equivalents |
186.247 |
72.134 |
610.580 |
|
(e)
Short-term loans and advances |
65.930 |
66.983 |
79.885 |
|
(f) Other
current assets |
59.267 |
162.490 |
132.098 |
|
Total
Current Assets |
2,553.898 |
3,057.950 |
3,478.876 |
|
|
|
|
|
|
TOTAL |
7,325.504 |
7,830.882 |
5,950.395 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL |
9,187.695 |
11,834.831 |
8,041.307 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
9,388.352 |
11,761.382 |
8,088.958 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST AND TAX, |
(200.657) |
73.449 |
(47.651) |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
93.176 |
68.718 |
89.385 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(293.833) |
4.731 |
(137.036) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
0.000 |
53.955 |
(42.288) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(293.833) |
(49.224) |
(94.748) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Commission received from overseas |
183.431 |
228.875 |
188.492 |
|
|
|
|
Service Fees |
4.660 |
6.200 |
12.816 |
|
|
|
|
Exports of goods on FOB basis |
446.060 |
289.270 |
254.847 |
|
|
|
|
Inspection Charges |
0.241 |
0.457 |
0.137 |
|
|
|
|
Reimbursement received |
33.346 |
20.207 |
22.415 |
|
|
|
|
Others |
1.199 |
1.695 |
0.000 |
|
|
|
TOTAL EARNINGS |
668.937 |
546.704 |
478.707 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.17) |
NA |
NA |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
186.858 |
160.488 |
161.426 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.05) |
0.07 |
(2.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
0.00 |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.40 |
0.19 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.91 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
1591.000 |
2517.084 |
2517.084 |
|
Reserves & Surplus |
613.291 |
564.067 |
270.234 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2204.291 |
3081.151 |
2787.318 |
|
|
|
|
|
|
Long Term borrowings |
534.946 |
400.453 |
266.157 |
|
Short Term borrowings |
0.000 |
180.000 |
650.219 |
|
Current Maturities of Long term debt |
161.426 |
160.488 |
186.858 |
|
Total
borrowings |
696.372 |
740.941 |
1103.234 |
|
Debt/Equity
ratio |
0.316 |
0.240 |
0.396 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
8,041.307 |
11,834.831 |
9,187.695 |
|
|
|
47.175 |
(22.367) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
8,041.307 |
11,834.831 |
9,187.695 |
|
Profit |
(94.748) |
(49.224) |
(293.833) |
|
|
(1.18%) |
(0.42%) |
(3.20%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter ID Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------- |
|
33 |
Market information |
---------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from
Bank |
|
|
|
Bank of Tokyo-Mitsubishi UFJ, Limited |
266.157 |
400.453 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
650.219 |
180.000 |
|
Total |
916.376 |
580.453 |
GENERAL INFORMATION
The Company was incorporated on April 1, 1999, pursuant to a joint venture agreement dated December 17, 1998, entered between Toyota Tsusho Corporation, Japan ('TTC') and Kirloskar Systems Limited ('KSL').During the previous year shares held by KSL were transferred to TTC and Toyota Tsusho Asia Pecific Pte Limited (earlier known as Toyota Tsusho Singapore Pte Limited). Now the Company is a wholly owned subsidiary of TTC.
The Company undertakes trading in automobile components, processing steel products and providing logistics services primarily catering to the Automotive Industry. The logistics centre within TTIPL leverages on its global expertise in international trade and commercial logistics to provide a wide array of solutions to the Toyota group of companies and to the Automotive Industry in particular. The Company also has manufacturing activities of polypropylene (manufactured goods).
REVIEW OF OPERATIONS
The overall growth of Gross Domestic Product (GDP) was at around 4.8% in 2013-14 representing a downward trend in the growth in comparison to the corresponding last year of around 5.00%.
The automotive industry in India was amongst the most hit sectors of the economy. The car sales in India fell down for the second year in succession as the automobile industry struggled to cope with demand slump due to the sluggish economy.
In view of this background, the company recorded a decline in turnover to the extent of 22.37% in its total income as compared to the previous year.
For its existing operations at Bidadi, Manesar and Chennai, the Company has the necessary systems and manpower in place to cater to the activity of steel processing and supply of auto components and raw materials to M/s Toyota Kirloskar Motor Private Limited (TKML), Other Original Equipment Manufacturers (OEMs) and their nominated Tier-I and Tier II vendors.
Other business segments such as Metals, Machinery & Electronics, Chemicals, Food and Consumer Products are still scouting for a large customer base and are expected to strengthen and increase sales volumes in the years to come.
FUTURE PROSPECTS
The GDP for FY 2014-15 is expected to be around 4.9%. The situation would improve in the coming months.
With the fundamentals of the Indian economy being strong, the Company is optimistic that the future holds good for its business. The Company is also gearing up to achieve its Global 2020 vision. The Company is looking forward to its expansions in areas such as Chennai, Mumbai and at Delhi NCR region and is evaluating investments suitable to its business.
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
NEWS:
TOYOTA TSUSHO TO START FULL-SCALE HIGH-PERFORMANCE PLASTICS
MANUFACTURING OUTSIDE CHENNAI, INDIA IN JUNE
-Plastics compounds business to be launched in southern India-
2014-05-12
Toyota Tsusho Corporation (headquarters: Nagoya City; President&CEO: Jun Karube) announces that it will begin full-scale manufacturing of high-performance plastics outside Chennai, India in June 2014 with joint-venture partners Toyota Tsusho India Private Limited, Nippon Pigment （Singapore) Pte. Limited and Motherson Sumi Systems Limited., part of India's largest auto parts conglomerate, the Samvardhana Motherson Group. The manufacturing plant will support growing demand for high-performance plastics with the superior heat-resistance required for auto parts applications.
The four companies established a plastics compound joint venture outside Delhi,
India in March 2013 and then began construction of a manufacturing plant
outside Chennai. In recent years, Japanese, American, and European auto and
electronics companies have accelerated the establishment of manufacturing sites
in southern India, boosting demand for local procurement of high-performance
plastics. Toyota Tsusho participated in the establishment of this joint venture
to rapidly and precisely meet the needs of its customers in southern India
through consigned processing and manufacturing of high-performance plastics for
plastics manufacturers.
Nippon Pigment (Singapore) has a 50-year track record in the compounds business with its color processing and other operations. The company is a wholly owned subsidiary of Nippon Pigment, which boasts six affiliated plants in Japan and nine in other parts of Asia. Motherson Sumi Systems is a core unit of India's Motherson Group, a comprehensive auto parts conglomerate. With a 40-year history, the company supplies plastic compounds, wire harnesses, and other products to auto manufacturers in and outside India.
The partners aim to establish a value chain for high-quality, high-performance
plastics in India by combining Nippon Pigment's compounds technology and
know-how, Motherson Sumi Systems' local business management know-how, and
Toyota Tsusho's logistics and sales networks.
TOYOTA TSUSHO OPENS OFFICE IN GUJARAT, INDIA'S FIFTH AUTO MANUFACTURING
CENTER
2013-02-28
Toyota Tsusho Corporation (headquarters: Nagoya City; President: Jun Karube) announces that on February 28, 2013 it took steps to expand its automobile-related business in India by opening an office in Ahmedabad, the largest city in the State of Gujarat. Toyota Tsusho becomes the first major Japanese trading company to establish a local subsidiary in the city. With an initial team of a Japanese national (serving simultaneously in an additional post) and several local Indian employees, the office will provide business start-up, supply chain building, and marketing support to Japanese and other companies expanding their operations into Gujarat.
Located in northwest India, Gujarat has an established industrial infrastructure of roads, ports, and electrical power supply. The state government has facilitated development by offering incentives to attract foreign investment. Maruti Suzuki, an automobile manufacturing and sales subsidiary of Japan's Suzuki Motor Corporation, has announced that it has acquired land in the state for the establishment of a manufacturing plant. This acquisition is just one example of how the region is expected to attract automobile parts manufacturers in the future. Gujarat is also strategically located in the middle of the Delhi Mumbai Industrial Corridor (DMIC), a large-scale industrial development project jointly promoted by the governments of Japan and India. With plans for the development of an industrial park for Japanese companies, the region is drawing further interest as the next major center for Japanese ventures following Delhi, Bangalore, Chennai, and Pune.
Toyota Tsusho established its first Indian subsidiary in Bangalore in 2007, and by 2012, India had become one of the company's highest priority regions. In the automotive business, Toyota Tsusho started auto parts processing and logistics-focused business in Bangalore in 1999 and gradually expanded operations to cover everything from manufacturing to sales. To bolster its Indian automotive business, the company has opened the office in Ahmedabad, which is widely expected to become India's fifth major auto manufacturing region.
The Ahmedabad office will coordinate with company branches in the south (Karnataka and Tamil Nadu) and north (Haryana) to establish a joint parts and raw materials supply system. Using the joint supply system, the Ahmedabad office will establish a local value chain, from fund procurement to processing, logistics, warehousing, and office space leasing, to support auto parts manufacturers expanding into the Gujarat region.
Toyota Tsusho's opening of an Ahmedabad office will facilitate the expansion of Japanese auto parts manufacturers into the region, help promote the local procurement of parts (an important issue for the Indian automotive industry), and contribute considerably to the development of Gujarat as a major automotive industry center in India.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
UK Pound |
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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%)
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 report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.