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Report No. : |
337432 |
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Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TOPPAN COSMO INC |
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Registered Office : |
Toppan Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
Jan., 1961 |
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Com. Reg. No.: |
0104-01-033901 (Tokyo-Minatoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale and Manufacturer of Housing Kits, Ceiling
Plywood, Flooring, Decorative Sheet. |
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No. of Employees : |
452 |
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 |
TOPPAN COSMO INC
REGD NAME: KK
Toppan Cosmo
MAIN OFFICE: Toppan
Shibaura Bldg, 3-19-26 Shibaura Minatoku Tokyo 108-0023 JAPAN
Tel: 03-5418-3700 Fax: 03-5418-3704
URL: http://www.toppan-cosmo.jmjp
E-Mail address: info-forest@toppan-cosmo.imjp
Wholesale,
mfg of housing kits, ceiling plywood, flooring, decorative sheet
Nagoya,
Osaka, Sendai, Fukuoka, Sapporo, Toyama (Tot 14)
Fukuoka;
USA (2)
YOSHIYUKI
ISHIDA, PRES Toshiaki Sugimura,
s/mgn dir
Yuzo
Shoji, s/mgn dir Hideo
Yoshikawa, dir
Atsushi
Hashimoto, dir Jun Taiko, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 84,290 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 3,000 M
TREND SLOW WORTH Yen 19,820 M
STARTED 1963 EMPLOYES 452
MFR,
WHOLESALER SPECIALIZING BUILDING MATERIALS, OWNED BY TOPPAN PRINTING CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 3,188.1
MILLION, 30 DAYS NORMAL TERMS
The
subject company was established on the basis of a trading division separated
from Toppan Printing Co Lt (See REGISTRATION). This is a trading firm, with mfg
division, specializing in import, export
and wholesale of building materials, flooring, ceiling plywood, other. Operates two factories in USA and imports the
products.
The
sales volume for Mar/2015 fiscal term amounted to Yen 84,290 million, a 3% down
from Yen 86,686 million in the previous term.
The recurring profit was posted at Yen 1,336 million and the net profit
at Yen 992 million, respectively, compared with Yen 1,793 million recurring
profit and Yen 1,818 million net profit, respectively, a year ago.
For
the current term ending Mar 2016 the recurring profit is projected at Yen 1,400
million and the net profit at Yen 1,000 million, respectively, on a 5% rise in
turnover, to Yen 88,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date
Registered: Jan 1961
Regd
No.:
0104-01-033901 (Tokyo-Minatoku)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
24 million shares
Issued:
6 million shares
Sum:
Yen 3,000 million
Major shareholders (%): Toppan Printing Co Ltd* (100)
*.. One of two largest printing companies, known for steady
management, founded 1908, Listed Tokyo S/E, capital Yen 104,986 million, sales
Yen 1,526,912 million, operating profit Yen 40,876 million, recurring profit
Yen 45,245 million, net profit Yen 22,868 million, total assets Yen 1,994,262
million, net worth Yen 933,289 million, employees 48,999, pres Shingo Kaneko
Nothing
detrimental is known as to the commercial morality of executives.
Activities:
Manufactures, imports, exports and wholesales building/construction materials,
decorative surface materials, fabricated decorative surface materials,
furniture, equipment, other; sells materials for greening/planting &
artificial soil, other (--100%)
Clients:
[Mfrs, wholesalers] Toppan Printing, Toppan Int’l America, LIXIL, Kyocera
Circuit Solutions, Aica Kogyo Co, Daio Paper Corp, Daiken Ind, Panasonic Eco
Solutions, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers:
[Mfrs, wholesalers] Toppan Kenso Products (30%), Aica Kogyo Co, Toppan
Printing, Panasonic Eco Solutions, Ibiden, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are owned by the parent, Toppan Printing Co, and
maintained satisfactorily.
Bank References:
MUFG
(Tamachi)
SMBC
(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 |
|
88,500 |
84,290 |
86,686 |
81,253 |
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Recur.
Profit |
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1,400 |
1,336 |
1,793 |
1,517 |
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Net
Profit |
|
1,000 |
992 |
1,818 |
1,513 |
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Total
Assets |
|
|
40,772 |
42,107 |
40,710 |
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Current
Assets |
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|
33,059 |
34,607 |
32,844 |
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Current
Liabs |
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19,436 |
21,655 |
21,510 |
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Net
Worth |
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19,820 |
19,069 |
17,824 |
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Capital,
Paid-Up |
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|
3,000 |
3,000 |
3,000 |
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Div.Ttl
in Million (¥) |
|
|
544 |
453 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
|
4.99 |
-2.76 |
6.69 |
4.82 |
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Current Ratio |
|
.. |
170.09 |
159.81 |
152.69 |
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N.Worth Ratio |
|
.. |
48.61 |
45.29 |
43.78 |
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R.Profit/Sales |
|
1.58 |
1.59 |
2.07 |
1.87 |
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N.Profit/Sales |
|
1.13 |
1.18 |
2.10 |
1.86 |
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Return On Equity |
|
.. |
5.01 |
9.53 |
8.49 |
Notes:
Forecast (or estimated) figures for the 31/03/2016 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
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Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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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.