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Report No. : |
340832 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TAMAKI SANGYO CO LTD |
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Registered Office : |
Osaka-Ekimae No.3 Bldg 24F, 1-1-3 Umeda Kitaku Osaka 530-0001 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1973 |
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Com. Reg. No.: |
1200-01-045341 (Osaka-Kitaku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Exports, imports and wholesales iron & steel products.
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No. of Employees : |
19 |
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 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 |
TAMAKI SANGYO CO LTD
REGD NAME: Tamaki
Sangyo KK
MAIN OFFICE: Osaka-Ekimae
No.3 Bldg 24F, 1-1-3 Umeda Kitaku Osaka 530-0001 JAPAN
Tel: 06-6341-7538 Fax: 06-6343-1927
URL: http://www.tamaki-sangyo.co.jp
E-mail address: (thru
the URL)
Export,
import of iron & steel products
Nil
TAKEHIKO
OKAMOTO, PRES
Kenji
Nishijima, mgn dir
Norio
Takano, dir
Yen
Amount: In million Yen, unless otherwise
stated
FINANCES FAIR A/SALES Yen 4,809 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 48 M
TREND UP WORTH Yen 951 M
STARTED 1973 EMPLOYES 19
TRADING FIRM SPECIALIZING IN EXPORT OF IRON/STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR
ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Hiraki Okamoto in
order to make most of his experience in the subject line of business. Takehiko is his son, who took the pres office
in Apr 2008. This is a trading firm,
owned & operated by the Okamoto family, specializing in export of iron
& steel products. Goods are exported
mainly to S/E Asian countries: Korea, Taiwan, Indonesia, India, China,
other. Domestic clients include trading
firms, other.
The sales volume for Mar/2014 fiscal term amounted to Yen
4,809 million, a 26% up from Yen 3,825 million in the previous term. Sales were substantially up, helped by robust
exports to Asian countries. Weaker Yen also
contributed to raise export earnings in Yen terms. The recurring profit was posted at Yen 100
million and the net profit at Yen 59 million, compared with Yen 88 million
recurring profit and Yen 55 million net profit, respectively, a year ago.
For the term that ended Mar 2015 the recurring profit was
projected at Yen 110 million and the net profit at Yen 65 million,
respectively, on a 5% rise in turnover, to Yen 5,050 million. Weak Yen may have pushed sales earnings in
Yen terms. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements
Date
Registered: Apr
1973
Regd
No.: 1200-01-045341
(Osaka-Kitaku)
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 384,000
shares
Issued: 96,000
shares
Sum: Yen 48
million
Major
shareholders (%): Takehiko
Okamoto (41.3), Taku Okamoto (35.9), Nobuko
Okamoto (6.3), Kenji Nishijima (1.6), Norio Takano (1.6)
No. of
shareholders: 10
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Exports, imports and wholesales iron & steel products (steel primary
products) (--100%)
(Handling
Items): electrical silicon steel, galvanized steel, tin plate,
hot/cold rolled steel, shaped steel, flat bar, round bar, billet, wire rod
plate, chequered plate, other
Clients:
[Mfrs, wholesalers] Exports to India, Korea, Indonesia, China,
Taiwan, Thailand, Bangladesh, Singapore, Vietnam, Malaysia, Italy, UAE, other.
Domestic
clients: Hagihara Ind Inc, Teramoto Sharing Co, Sakakura Sharing Co,
Koyo Sharing Co, JFE Shoji Trading, NSM Coil Center, Nisshin Sharing, other
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] JFE Electrical Steel Co, Daewoo Japan, Naigai Steel Co, Teramoto
Sangyo Co, JFE Shoji Trading, Sumikin Bussan Corp, Sakai Kouhan Co, Onoken Co,
Metal One Steel Service, POSCO-JWPC, Daewoo Japan, Nippon Steel & Sumitomo
Metal Corp, Yamato Steel Co, other
Payment
record: No
Complaints
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank
References:
Amagasaki Shinkin Bank (Osaka)
MUFG (Osaka-Ekimae)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
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Annual
Sales |
|
5,050 |
4,809 |
3,825 |
4,398 |
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Recur.
Profit |
|
110 |
100 |
88 |
174 |
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Net
Profit |
|
65 |
59 |
55 |
86 |
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Total
Assets |
|
|
2,026 |
1,335 |
1,469 |
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Current
Assets |
|
|
1,836 |
1,178 |
1,311 |
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Current
Liabs |
|
|
1,074 |
433 |
612 |
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Net
Worth |
|
|
951 |
902 |
857 |
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Capital,
Paid-Up |
|
|
48 |
48 |
32 |
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Div.Ttl
in Million (¥) |
|
|
9.6 |
11.2 |
11.2 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
5.01 |
25.73 |
-13.03 |
31.60 |
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Current Ratio |
|
.. |
170.95 |
272.06 |
214.22 |
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N.Worth Ratio |
|
.. |
46.94 |
67.57 |
58.34 |
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R.Profit/Sales |
|
2.18 |
2.08 |
2.30 |
3.96 |
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N.Profit/Sales |
|
1.29 |
1.23 |
1.44 |
1.96 |
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Return On Equity |
|
.. |
6.20 |
6.10 |
10.04 |
Notes:
Forecast (or estimated) figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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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.