MIRA INFORM REPORT
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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
AMADA CO LTD |
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Registered Office : |
200 Ishida Isehara Kanagawa-Pref 259-1196 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
May 1948 |
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Com. Reg. No.: |
(Kanagawa-Isehara) 020895 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of metal working machinery |
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No. of Employees
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6,340 |
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 6,832.7 Million |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
AMADA CO LTD
REGD NAME
KK Amada
MAIN OFFICE
200 Ishida Isehara
Kanagawa-Pref 259-1196 JAPAN
Tel:
0463-96-1111 Fax: 0463-96-3281
E-Mail address: info@amada.co.jp
ACTIVITIES
Mfg of
metal working machinery
BRANCHES
44
(domestic), 39 affiliates overseas
OVERSEAS
USA (4), Canada, Mexico, Europe (14), China (8), Taiwan, Korea, Thailand (2), Singapore (2), Malaysia, Vietnam, India (2), Australia (--subsidiaries)
FACTORIES
Fujinomiya,
Odawara, Ono, Isehara
CHIEF EXEC
MITSUO
OKAMOTO, PRES & CEO
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 163153 M
PAYMENTS REGULAR CAPITAL Yen 54,768 M
TREND UP WORTH Yen 375,159 M
STARTED 1948 EMPLOYES 6,340
COMMENT
MFR OF
METAL WORKING MACHINERY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 6,832.7 MILLION, 30 DAYS NORMAL TERMS.
Forecast (or estimated) figures for 31/03/2012 fiscal term
HIGHLIGHTS
This is a leading and comprehensive metalworking machinery company. Core of Amada group firms focusing on marketing
of machine tools, but in Oct 2003, merged with Amada Machinics, machine tool
mfg arm, and restarted production.
Largest maker of sheet metal processing machinery. Diversified product line to cutting machines,
presses and machine tools. Operations
are centered mainly on four businesses focusing on Sheet Metal Machinery, Metal
Cutting & Stamping Press Machinery, Structural Steel Machine and Machine
Tools. In addition to the main
businesses, the group also provides total solution services that range from
computer software and peripheral devices for controlling metalworking machines
to toolings & maintenance. Owns
sales & development sites in major cities around the world, with production
sites in US, France, Australia and China.
Established US software subsidiary in 1996 as part of efforts in
software development. The firm withdrew
from slumping small pressing machine business.
Set up a sales JV with Aida Engineering in April 2011. The JV will sell products mfr’d by Aida
through Amada’s sales channel. It
intends to concentrate management resources on core
businesses. Aiming to start a business
in untapped markets, the firm will establish a base in Brazil in Jan 2012, and
in eastern Europe, a relatively small market.
It is planning to do market research in Finland and start an intensive
marketing in the country.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 163,153
million, a 20.6% up from Yen 135,979 million in the previous term. Market revived after being substantially
affected by the global economic downturn in the last term. Exports revived and brisk, particularly into
China & India. By divisions, Metal
Processing Div up 16.7% to Yen 1,090 million; Metal Processing Machine Tools
Div up 36.8% to Yen 249 million.
Operations returned to profitability to post Yen 6,757 million recurring
profit and Yen 2,716 million net profit, respectively, compared with Yen 4,416
million recurring loss and Yen 3,739 million net losses, respectively, a year
ago
(Apr/Dec/2010 results): Sales Yen 124,824 million (up 14.3%), operating
profit Yen 4,427 million (up from Yen 440 million profit), recurring profit Yen
4,092 million (up from Yen 1,032 million profit), net profit Yen 889 million
(up from Yen 50 million profit). (%
& figures compared with the corresponding period a year ago). Japan’s machine tool makers are benefiting
from a sharp pickup in orders as companies begin rebuilding production sites in
Thailand damaged by last year’s massive floods.
Demand associated with fixing Thai facilities could exceed Yen 160
billion, according to SMBC Nikko Securities Ins. Machine tool demand has been particularly
brisk, with orders for units headed to Thailand more than quadrupling from a
year earlier to Yen 8 billion in December, said the Japan Machine Tool
Builders’ Association.
For the current term ending Mar 2012 the recurring profit is projected
at Yen 11,500 million and the net profit at Yen 5,500 million, respectively, on
a 16.5% rise in turnover, to Yen 190,000 million. Sales of sheet metal processing machinery
bound for China are edging down, but those of production bound for the domestic
and European markets are at a high level.
Cutting machines & machine tools remain brisk. Gross profit margin is improving, thanks to
higher plant utilization. Foreign
exchange loss is increasing sharply under the stronger Yen.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is estimated at Yen
6,832.7 million, on 30 days normal terms.
REGISTRATION
Date
Registered: May 1948
Regd
No.: (Kanagawa-Isehara) 020895
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized:
550 million shares
Issued: 403,081,117 shares
Sum:
Yen 54,768 million
Major shareholders
(%):
Japan Trustee Services Bank (15.2), Master Trust Bank of Japan (5.6),
Mizuho Bank (4.7), Company’s Treasury Stock (3.6), Trust & Custody
Services, Trust (3.4), Amada Foundation (2.5), Nippon Life Ins (1.8), Joyo Bank
(1.4), Nomura Trust, Trust Acct (1.3), BBC Dexia Investor ST LDN Lending (1.2);
foreign owners (37.2)
No. of
shareholders: 18,290
Listed on the
S/Exchange (s) of: Tokyo, Osaka
Managements: Mitsuo Okamoto,
pres & CEO; Toshio Takagi, s/mgn dir; Yoshihiro
Yamashita, mgn dir; Tsutomu Isobe, dir; Chikahiro Sueoka,
dir; Atsushige Abe, dir; Kota Shibata, dir; Takaya Shigeta, dir
Nothing detrimental is known as to the commercial morality
of executives.
Related
companies: Amada North America, Techno Wasino, Amada Prestech, Amada
Cutting, Amada Machine Tool, other
OPERATION
Activities: Manufactures
metal processing machinery and metal processing machine tools, others .
(Mfg Items):
Sheet Metal
Processing Machinery (78%): punching machines, laser machines, blending
machines, welding machines, shearing machines, general fabrication machines;
Metal Processing
Machine Tools (21%): band saw machines, structural steel machines
(drilling machines), environment related products; stamping press, machines for
cutting & shaping metal blocks, used to process precision components, tools
& dies, etc.
Others (1%): Real estate
leasing, other
Overseas Sales
Ratio (51.6%): North America 13.3%, Europe 19.6%, Asia 16.4%m others 2.3%
Clients: [Mfrs, wholesalers]
Mitsui & Co, Toshiba Corp, Mitsubishi Electric, Fujitsu Ltd, Nippon Steel,
Nissan Motors, other.
No. of accounts: 1,000
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Hitachi Metals, Fanuc ltd, Metal One, Amada Soft Services, Techno
Washino, NCC Co, THK, other.
Payment record: Regular
Location: Business area in
Isehara City, Kanagawa-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Shinjuku-Nishiguchi)
SMBC (Tokyo-Chuo)
Relations: Satisfactory
FINANCES
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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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163,153 |
135,979 |
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Cost of Sales |
98,959 |
89,375 |
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GROSS PROFIT |
64,193 |
46,604 |
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Selling & Adm Costs |
59,840 |
56,158 |
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OPERATING PROFIT |
4,353 |
-9,654 |
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Non-Operating P/L |
2,404 |
5,238 |
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RECURRING PROFIT |
6,757 |
-4,416 |
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NET PROFIT |
2,716 |
-3,739 |
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BALANCE SHEET |
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Cash |
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66,820 |
66,610 |
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Receivables |
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100,220 |
99,536 |
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Inventory |
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52,393 |
56,270 |
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Securities, Marketable |
26,669 |
28,980 |
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Other Current Assets |
17,417 |
16,745 |
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TOTAL CURRENT ASSETS |
263,519 |
268,141 |
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Property & Equipment |
105,990 |
106,655 |
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Intangibles |
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5,961 |
7,681 |
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Investments, Other Fixed Assets |
77,322 |
85,701 |
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TOTAL ASSETS |
452,792 |
468,178 |
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Payables |
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12,302 |
9,142 |
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Short-Term Bank Loans |
6,592 |
11,199 |
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Other Current Liabs |
34,985 |
33,745 |
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TOTAL CURRENT LIABS |
53,879 |
54,086 |
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Debentures |
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Long-Term Bank Loans |
1,621 |
2,097 |
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Reserve for Retirement Allw |
11,784 |
12,635 |
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Other Debts |
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10,348 |
10,693 |
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TOTAL LIABILITIES |
77,632 |
79,511 |
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MINORITY INTERESTS |
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Common
stock |
54,768 |
54,768 |
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Additional
paid-in capital |
163,199 |
163,199 |
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Retained
earnings |
203,485 |
203,865 |
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Evaluation
p/l on investments/securities |
(5,755) |
(4,060) |
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Others |
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(31,407) |
(20,024) |
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Treasury
stock, at cost |
(9,131) |
(9,081) |
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TOTAL S/HOLDERS` EQUITY |
375,159 |
388,667 |
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TOTAL EQUITIES |
452,792 |
468,178 |
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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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12,185 |
18,213 |
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Cash
Flows from Investment Activities |
-649 |
-9,872 |
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Cash
Flows from Financing Activities |
-8,616 |
1,529 |
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Cash,
Bank Deposits at the Term End |
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83,046 |
83,048 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
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Net
Worth (S/Holders' Equity) |
375,159 |
388,667 |
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Current
Ratio (%) |
489.09 |
495.77 |
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Net
Worth Ratio (%) |
82.85 |
83.02 |
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Recurring
Profit Ratio (%) |
4.14 |
-3.25 |
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Net
Profit Ratio (%) |
1.66 |
-2.75 |
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Return
On Equity (%) |
0.72 |
-0.96 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.16 |
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UK Pound |
1 |
Rs.81.79 |
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Euro |
1 |
Rs.68.34 |
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.