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Report No. : |
337348 |
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Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TOKYO SANGYO YOSHI CO LTD |
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Registered Office : |
Nihombashi Nichigin-dori Bldg 7F, 4-6-7 Nihombashi-Hongokucho Chuoku
103-0021 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
July 1954 |
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Com. Reg. No.: |
0100-01-061319 (Tokyo-Chuoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesales dielectric materials for
capacitors, other (--100%) |
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No. of Employee : |
51 |
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) |
|
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 first-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 |
TOKYO SANGYO YOSHI CO LTD
REGD NAME: Tokyo
Sangyo Yoshi KK
MAIN OFFICE: Nihombashi
Nichigin-dori Bldg 7F, 4-6-7 Nihombashi-Hongokucho Chuoku Tokyo 103-0021 JAPAN
Tel: 03-3270-0431 Fax: 03-3216-1759
*.. Moved to the caption
address in Sept/2014 from the former as given
URL: http://www.tsy.co.jp
E-Mail address: (thru the URL)
Wholesale of
Dielectric Materials for condensers, other
Yokohama
(warehouse)
India
MASAYA KONDO, PRES
Hidehiko Maejima,
dir
Hajime Kawamata,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 17,254 M
PAYMENTSNO COMPLAINTS CAPITAL Yen 54 M
TREND STEADY WORTH Yen 4,430 M
STARTED 1954 EMPLOYES 51
WHOLESALER SPECIALIZING INDIELECTRIC MATERIALS FOR CAPACITORS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the
basis of a division separated from Japan Pulp & Paper Co Ltd (See REGISTRATION). This is a trading firm for wholesaling
Dielectric materials for capacitors (See OPERATION). Clients include electronic makers, pulp &
paper industries, other.
The sales volume for Mar/2015 fiscal term amounted to Yen 17,254 million,
an almost similar amount of Yen 17,239 million in the previous term. The net profit was posted at Yen 425 million,
compared with Yen 232 million a year ago
For the current term ending Mar 2016 the net profit is projected at Yen
430 million, on a 3% rise in turnover, to Yen 17,750 million..
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date
Registered: Jul 1954
Regd No.:
0100-01-061319 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 288,000 shares
Issued: 72,000 shares
Sum: Yen 54 million
Major
shareholders (%): Japan Pulp & Paper
Ltd* (33.3), Oji F-Tex (33.3), Masaya
Kondo (5)
No. of shareholders: 10
*.. Comprehensive
paper distributor, Tokyo, founded 1916, listed Tokyo S/E, capital Yen
16,649 million, sales Yen 530,164 million,
operating profit Yen 6,491 million, recurring profit Yen 6,353 million, net
profit Yen 3,156 million, total assets Yen 310,058 million, net worth Yen
78,095 million, employees 3,164, pres Kenzo Noguchi
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Wholesales
dielectric materials for capacitors, other (--100%)
(Handling
items): capacitor paper & films, metalized film, separators for electrolytic
capacitors, micro porous film, non-flammable papers, comb core, release paper
& films, printing paper, white paper board, liquid crystal polymer, metal
foils, measuring apparatus, other
Clients: [Mfrs,
wholesalers] Nippon Chemicon Group, Hitachi AIC, Toshiba Corp, Nippon AE Power
Systems, Nichicon Corp, Rubycon Corp, Tajima Roofing, Nichias Corp, Elna Co,
other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Nippon Koudoshi Corp (56%), Oji F-Tex (24%), Mitsubishi Chemical, Mitsubishi
Resin, Unitika Ltd, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
MUFG (Muromachi)
Mizuho Bank
(Nihombashi)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2016 |
31/03/2015 |
31/03/2014 |
31/03/2013 |
|
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Annual
Sales |
|
17,750 |
17,254 |
17,239 |
14,560 |
|
Recur.
Profit |
|
|
|
|
|
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Net
Profit |
|
430 |
425 |
232 |
168 |
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Total
Assets |
|
|
9,699 |
8,772 |
7,788 |
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Current
Assets |
|
|
4,961 |
4,571 |
3,807 |
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Current
Liabs |
|
|
4,252 |
3,778 |
3,259 |
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Net
Worth |
|
|
4,430 |
3,960 |
3,494 |
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Capital,
Paid-Up |
|
|
54 |
54 |
54 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.87 |
0.09 |
18.40 |
-18.70 |
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Current Ratio |
|
.. |
116.67 |
120.99 |
116.81 |
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N.Worth Ratio |
|
.. |
45.67 |
45.14 |
44.86 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
|
2.42 |
2.46 |
1.35 |
1.15 |
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Return On Equity |
|
.. |
9.59 |
5.86 |
4.81 |
Notes: Forecast
(or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.61 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
|
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.