MIRA
INFORM REPORT
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Report Date : |
24.08.2011 |
IDENTIFICATION DETAILS
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Name : |
UBE TECHNO ENG CO LTD |
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Registered Office : |
1980 Okinoyama Kogushi Ube Yamaguchi-Pref
755-3683 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
December 1977 |
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Com. Reg. No.: |
(Yamaguchi-Ube) 003002 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of industrial 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 484.0 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
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 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
Company name and address
UBE TECHNO ENG CO LTD
REGD NAME: Ube
Techno Eng KK
MAIN OFFICE: 1980
Okinoyama Kogushi Ube Yamaguchi-Pref 755-3683 JAPAN
Tel: 0836-34-5080 Fax: 0836-22-8635
URL: http://www.ubetechno.co.jp
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of industrial
machinery
BRANCHES
Tokyo, Osaka,
Fukuoka, other
OVERSEAS
USA, Germany,
China, Singapore, Thailand
FACTORIES
At the caption
address
OFFICERS
SHOICHI MIKI, PRES Masanobu Noma, mgn
dir
Makoto Tonokouchi,
dir Ken’ichi
Naito, dir
Hiroyuki Tanaka,
dir Shin’ichi
Tomita, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 11,134 M
PAYMENTS REGULAR CAPITAL Yen 130 M
TREND STEADY WORTH Yen
5,899 M
STARTED 1977 EMPLOYES 302
COMMENT
MFR OF INDUSTRIAL MACHINERY, OWNED BY UBE INDUSTRIES LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 484.0 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established
on the basis of a division separation from Ube Industries Ltd (See REGISTRATION). This is a specialized mfr of industrial
machinery: molding machines, die-casting machines, injection molding machines,
other. Operates 5 overseas subsidiaries
(including factories) in USA, Germany, China, other.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal
term amounted to Yen 11,134 million, a 19% up from Yen 9,369 million in the
previous term. The recurring profit was posted
at Yen 1,451 million and the net profit at Yen 851 million, respectively,
compared with Yen 902 million recurring profit and Yen 499 million net profit,
respectively, a year ago.
For the current term ending Mar 2012
the recurring profit is projected at Yen 1,500 million and the net profit at
Yen 900 million, on a 5% rise in turnover, to Yen 11,700 million.
The financial situation is considered FAIR
and good for ORDINARY business engagements.
Max credit limit is estimated at Yen 484.0 million, on 30 days normal
terms.
REGISTRATION
Date Registered: Dec
1977
Regd No.:
(Yamaguchi-Ube) 003002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1 million shares
Issued: 260,000 shares
Sum: Yen 130 million
Major
shareholders (%): Ube Industries Ltd* (100)
*.. Mfr of chemicals
& cement, Tokyo, founded 1942, listed Tokyo, Fukuoka S/E’s, capital
Yen 58,435 million, sales Yen 616,062
million, operating profit Yen 44,363 million, recurring profit Yen 39,100 million,
net profit Yen 17,267 million, total assets Yen 661,512 million, net worth Yen
211,449 million, employees 11,026, pres Michio Takeshita
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures
industrial machinery & equipment: molding machinery, die-casting machinery,
injection molding machinery, other (--100%)
Clients: [Mfrs,
wholesalers] Ube Machinery Corp, Ube Industries, Sojitz Machinery, Ube
Machinery Inc (USA), Moriya Corp, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ube Machinery Corp, other
Payment record: Regular
Location: Business area in
Ube City, Yamaguchi-Pref. Office
premises at the caption address are owned leased and maintained satisfactorily.
Bank References:
Bank of Yamaguchi
(Ube)
MUFG (Ube)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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11,700 |
11,134 |
9,369 |
11,361 |
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Recur.
Profit |
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1,500 |
1,451 |
902 |
1,503 |
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Net
Profit |
|
900 |
851 |
499 |
876 |
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Total
Assets |
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9,187 |
7,713 |
8,014 |
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Current
Assets |
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8,131 |
6,690 |
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Current
Liabs |
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3,184 |
2,355 |
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Net
Worth |
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5,899 |
5,246 |
5,084 |
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Capital,
Paid-Up |
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130 |
130 |
130 |
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Div.P.Share(Ą) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.08 |
18.84 |
-17.53 |
-13.07 |
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Current Ratio |
|
.. |
255.37 |
284.08 |
.. |
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N.Worth Ratio |
.. |
64.21 |
68.02 |
63.44 |
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R.Profit/Sales |
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12.82 |
13.03 |
9.63 |
13.23 |
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N.Profit/Sales |
7.69 |
7.64 |
5.33 |
7.71 |
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Return On Equity |
.. |
14.43 |
9.51 |
17.23 |
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Notes: Forecast
(or estimated) figures for the 31/03/2012 fiscal term.
SUPPLEMENTS
CONSOLIDATED FINANCIALS OF THE PARENT, UBE INDUSTRIES
LTD
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2011 |
31/03/2010 |
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INCOME STATEMENT |
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Annual Sales |
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616,062 |
549,556 |
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Cost of Sales |
494,046 |
448,328 |
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GROSS PROFIT |
122,016 |
101,228 |
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Selling & Adm Costs |
77,653 |
73,633 |
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OPERATING PROFIT |
44,363 |
27,595 |
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Non-Operating P/L |
-5,263 |
-8,600 |
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RECURRING PROFIT |
39,100 |
18,995 |
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NET PROFIT |
17,267 |
8,217 |
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BALANCE SHEET |
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Cash |
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49,711 |
37,511 |
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Receivables |
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134,914 |
133,522 |
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Inventory |
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73,247 |
69,704 |
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Securities, Marketable |
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Other Current Assets |
22,847 |
20,850 |
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TOTAL CURRENT ASSETS |
280,719 |
261,587 |
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Property & Equipment |
313,945 |
324,732 |
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Intangibles |
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4,988 |
4,213 |
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Investments, Other Fixed Assets |
61,860 |
64,261 |
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TOTAL ASSETS |
661,512 |
654,793 |
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Payables |
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89,135 |
78,983 |
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Short-Term Bank Loans |
96,859 |
111,555 |
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Other Current Liabs |
63,707 |
55,935 |
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TOTAL CURRENT LIABS |
249,701 |
246,473 |
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Debentures |
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15,100 |
15,140 |
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Long-Term Bank Loans |
144,082 |
152,954 |
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Reserve for Retirement Allw |
7,026 |
7,246 |
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Other Debts |
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34,154 |
30,790 |
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TOTAL LIABILITIES |
450,063 |
452,603 |
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MINORITY INTERESTS |
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Common
stock |
58,435 |
58,435 |
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Additional
paid-in capital |
28,451 |
28,445 |
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Retained
earnings |
114,817 |
101,579 |
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Evaluation
p/l on investments/securities |
1,152 |
1,556 |
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Others |
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9,377 |
12,945 |
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Treasury
stock, at cost |
(783) |
(770) |
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TOTAL S/HOLDERS` EQUITY |
211,449 |
202,190 |
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TOTAL EQUITIES |
661,512 |
654,793 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2011 |
31/03/2010 |
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Cash
Flows from Operating Activities |
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67,081 |
60,107 |
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Cash
Flows from Investment Activities |
-28,685 |
-29,928 |
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Cash Flows
from Financing Activities |
-25,073 |
-32,265 |
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Cash,
Bank Deposits at the Term End |
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49,522 |
37,281 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
211,449 |
202,190 |
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Current
Ratio (%) |
112.42 |
106.13 |
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Net
Worth Ratio (%) |
31.96 |
30.88 |
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Recurring
Profit Ratio (%) |
6.35 |
3.46 |
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Net
Profit Ratio (%) |
2.80 |
1.50 |
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Return
On Equity (%) |
8.17 |
4.06 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.68 |
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|
1 |
Rs.75.29 |
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Euro |
1 |
Rs.65.77 |
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 |
-- |
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.