MIRA
INFORM REPORT
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Report Date : |
19.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AMADA CO LTD |
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Registered Office : |
200 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
May 1948 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of metal working machinery. |
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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Maximum Credit Limit : |
Yen
8,050.4 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
AMADA CO LTD
REGD NAME
KK Amada
MAIN OFFICE
200 Ishida Isehara City Kanagawa-Pref
259-1196
Tel :
0463-96-1111
Fax :
0463-96-3281
URL : http://www.amada.co.jp/
E-Mail address : info@amada.co.jp
ACTIVITIES
Mfg of metal working machinery
BRANCHES
46 (domestic), 200 affiliates
overseas
FACTORY(IES)
Fujinomiya, Odawara, Ono,
Isehara
CHIEF EXEC
MITSUO OKAMOTO, PRES & CEO
Yen Amount
In million Yen, unless otherwise
stated
SUMMARY
FINANCES FAIR A/SALES Yen 221,780 M
PAYMENTS REGULAR CAPITAL Yen 54,768 M
TREND STEADY WORTH Yen 394691 M
STARTED 1948 EMPLOYES 6,071
COMMENT
MFR OF METAL
WORKING MACHINERY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 8,050.4 MILLION, 30 DAYS NORMAL TERMS..
Forecast
(or estimated) figures for 31/03/2007 fiscal term
HIGHLIGHTS
This is
a leading and comprehensive metalworking machinery company. Core of Amada group firms focusing on
marketing with mfg division spun off as subsidiaries. Emphasizing software
related areas following merger of Amada Metecs in Apr 2000. Owns sales & development sites in major
cities around the world, with production sites in US, France,
FINANCIAL INFORMATION
The
sales volume for Mar/2006 fiscal term amounted to Yen 221,780 million, a 10.3%
up from Yen 201,097 million in the previous term. Buoyed by private sector capital spending, the
firm enjoyed strong sales of its mainstay metalworking machinery in
First
Half results ending Sept/2006: sales Yen 121,265 million (up 18.7%), operating
profit Yen 17,546 million (up 42.3%), recurring profit Yen 20,355 million (up
38.4%), net profit Yen 12,122 million (up 13.5%). (% compared with the same period previous
year). The strong showing is due to
increase of overseas sales of its mainstay metalworking machinery, notably in
Europe and
For the
current term ending Mar 2007 the recurring profit is projected at Yen 36,500
million and the net profit at Yen 22,400 million, on an 8.2 % rise in turnover,
to Yen 240,000 million. Presses
and machine tools, as well as sheet metalworking machines on growth trend. Operations in
The
financial situation is considered FAIR and good for ORDINARY business
engagements. Max credit limit is
estimated at Yen 8,050.4 million, on 30 days normal terms.
REGISTRATION
Date
Registered : May 1948
Legal
Status :
Limited Company (Kabushiki Kaisha)
Authorized : 550 million shares
Issued :
406,434,117 shares
Sum : Yen
54,768 million
Major shareholders (%)
Japan
Trustee Services Bank (10.6), Master Trust Bank of Japan T (6.1), Trust &
Custody Services Bank (Mizuho Bank) (4.1), Company’s Treasury Stock (3.6),
Nippon Life Ins (3.0), Trust & Custody Services, Trust (2.8), Sumitomo
Trust Bank (2.8), Amada Foundation (2.4),
No. of
shareholders: 18,973
Listed
on the S/Exchange (s) of:
Managements
Mitsuo
Okamoto, pres & CEO; Oichi Yonebayashi, mgn dir; Toshio Takagi, mgn dir;
Atsuzo Yajima, dir; Kojiro Hirosawa, dir; Akio Abe, dir; Yoshihiro Yamashita,
dir; Naoki Orita, dir; Yuji Fujita, dir; Mitsuaki Amada, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies
Amada
OPERATION
Activities:
Metalworking machine company:
(Breakdown
of sales):
Sheet
metal fabrication machines (48%), Software FA (4%), maintenance, repairing,
other services (5%), consumable products (15%), metal sheet cutting (13%),
forging presses (5%), machine
tools (8%), real estate leasing, others (2%).
Overseas
sales ratio 45.3%: N America 13.2%; Europe 18.2%,
Clients
[Mfrs,
wholesalers] Mitsui & Co, Toshiba Corp, Nissan Motors, Mitsubishi Electric,
Fujitsu Ltd,
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs,
wholesalers] Hitachi Metals, Fanuc ltd, Metal One, Amada Soft Services, THK,
other.
Payment record
Regular
Location
Business
area in
Bank References
Mizuho
Bank (Shinjuku-Nishiguchi)
SMBC
(Tokyo-Chuo)
Relations:
Satisfactory
FINANCES
(Consolidated in million yen)
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Terms Ending: |
31/03/2006 |
31/03/2005 |
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INCOME
STATEMENT |
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Annual Sales |
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221,780
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201,097
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Cost of Sales |
125,133
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111,918
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GROSS PROFIT |
96,646
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89,178
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Selling & Adm Costs |
68,366
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67,665
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OPERATING PROFIT |
28,320
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21,513
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Non-Operating P/L |
4,936
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3,447
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RECURRING PROFIT |
33,256
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24,960
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NET PROFIT |
22,297
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10,940
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BALANCE
SHEET |
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Cash |
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74,118
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53,195
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Receivables |
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132,484
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132,610
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Inventory |
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50,099
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47,370
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Securities, Marketable |
33,719
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31,182
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Other Current Assets |
7,509
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5,142
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TOTAL CURRENT ASSETS |
297,929
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269,499
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Property & Equipment |
100,309
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100,223
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Intangibles |
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5,927
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4,237
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Investments, Other Fixed Assets |
107,083
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101,265
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TOTAL ASSETS |
511,248
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475,224
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Payables |
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25,728
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23,271
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Short-Term Bank Loans |
7,288
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8,423
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Other Current Liabs |
46,879
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41,156
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TOTAL CURRENT LIABS |
79,895
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72,850
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Debentures |
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Long-Term Bank Loans |
310 |
174 |
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Reserve for Retirement Allw |
17,303
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17,700
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Other Debts |
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15,696
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14,220
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TOTAL LIABILITIES |
113,204
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104,944
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MINORITY INTERESTS |
3,353
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2,470
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Common stock |
54,768
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54,768
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Additional paid-in capital |
163,376
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163,372
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Retained earnings |
179,716
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161,405
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Evaluation p/l on
investments/securities |
9,151
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3,353
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Others |
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(7,705) |
(10,812) |
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Treasury stock, at cost |
(4,615) |
(4,278) |
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TOTAL S/HOLDERS` EQUITY |
394,691
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367,808
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TOTAL EQUITIES |
511,248
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475,224
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CONSOLIDATED
CASH FLOWS |
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Terms
ending: |
31/03/2006 |
31/03/2005 |
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Cash Flows from Operating Activities |
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36,045
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22,124
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Cash Flows from Investment
Activities |
-8,649
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-12,637
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Cash Flows from Financing Activities |
-5,882
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-5,733
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Cash, Bank Deposits at the Term End |
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95,567
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72,357
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ANALYTICAL
RATIOS Terms
ending: |
31/03/2006 |
31/03/2005 |
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Net Worth (S/Holders' Equity) |
394,691
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367,808
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Current Ratio (%) |
372.90
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369.94
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Net Worth Ratio (%) |
77.20
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77.40
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Recurring Profit Ratio (%) |
15.00
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12.41
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Net Profit Ratio (%) |
10.05
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5.44 |
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Return On Equity (%) |
5.65 |
2.97 |
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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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)