|
Report Date : |
20.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
HONDA FOUNDRY CO LTD |
|
|
|
|
Registered Office : |
1620 Matobe Kawagoe Saitama-Pref 350-1101 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
Dec 1963 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Mfg of car engines, chassis
components, aluminum alloy parts, die mold |
|
|
|
|
No. of Employees : |
722 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 189.2 Million |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONDA FOUNDRY CO LTD
REGD NAME: Honda
Kinzoku Gijutsu KK
MAIN OFFICE: 1620
Matobe Kawagoe Saitama-Pref 350-1101 JAPAN
Tel:
049-231-1521 Fax: 049-233-1139
URL: http://www.hondakinzoku.co.jp
E-Mail
address: (thru the URL)
Mfg of
car engines, chassis components, aluminum alloy parts, die mold
Kitagata
USA
(2), China (4), India, Indonesia, Thailand, Philippines (--factories)
At the
caption address, Fukushima, Sayama, Kumamoto, Yamanashi, Mie
HEDEKI
YOSHIOKA, PRES Tomoki Ono, s/mgn dir
Naoji
Watanabe, dir Seiichi
Koike, dir
Takashi
Yamanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 18,833 M
PAYMENTS No
complaints CAPITAL Yen 1,260 M
TREND SLOW WORTH Yen
1,684 M
STARTED 1963 EMPLOYES 722
MFR OF CAR ENGINES, COMPONENTS, OTHER, OWNED BY HONDA
MOTOR CO LTD.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 189.2 MILLION, 30 DAYS NORMAL TERMS
The subject company was established on the basis of a
division separated from Honda Motor Co Ltd (See REGISTRATION). This is a
specialized mfr of automobile/motorcycle engines, chassis components, aluminum
alloy parts, die mold coatings, other.
Products are manufactures at overseas factories, in addition to domestic
factories. Products are shipped to the
parent, Honda Motor Co, and other car makers.
The sales volume for Mar/2011 fiscal term amounted to Yen
18,833 million, a 30% up from Yen 14,530 million in the previous term. Sales declined in the previous term as
affected by the global economic downturn, and car production decreased. For this term the car production revived
steeply and sales rose. Exports were
robust. The operations came back to
profitability to post Yen 577 million recurring profit and Yen 382 million net
profit, respectively, compared with Yen 1,600 million recurring loss and Yen
2,583 million net losses, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is
projected at Yen 590 million and the net profit at Yen 390 million,
respectively, on a 2% rise in turnover, to Yen 19,200 million. Motorcycle sales are expanding in Asia. Automobile sales in the second half are
recovering rapidly after the earthquake.
But production is down due to flooding in Thailand and impacts on other
bases.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 189.2 million, on 30 days normal
terms.
Date Registered: Dec
1963
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 10 million shares
Issued:
2.52 million
shares
Sum: Yen
1.26 million
Major shareholders (%): Honda Motor Co Ltd* (55)
No. of shareholders: 7
*..
Honda Motor Co Ltd, major car makers ranked 2nd in domestic market,
founded 1948,
Listed Tokyo S/E, capital Yen
86,067 million, sales Yen 8,936,867 million, operating profit Yen 569,775
million, recurring profit Yen 630,548 million, net profit Yen 534,088, total
assets Yen 10,913,259 million, net worth Yen 4,297,278 million, employees
25,429, pres Takanobu Ito
Consolidated
Financials are attached (See SUPPLEMENTS)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures automobile/motorcycle engines,
chassis components, aluminum alloy parts, die mold coatings, other (--100%)
(Mfg items): piston, cylinder heads, intake
manifold, injector base, hub wheel, swing arm,
Fork-top bridge, water passage,
bracket, transfer case, other
Clients: [Car makers, car parts makers] Honda
Motor, Mitsubishi Motor, Fuji Heavy Ind, Denso Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Honda Motor, Honda
Trading, Summit Showa Aluminum, Nikkei MC Aluminum, Daiki Aluminum Ind, other
Payment record: No
compalints
Location:
Business area in Kawagoe, Saitama-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(Shimo-Akatsuka)
Saitama
Resona Bank (Kawagoe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
|
|
Annual
Sales |
|
19,200 |
18,833 |
14,530 |
26,829 |
|
Recur.
Profit |
|
590 |
577 |
-1,600 |
-2,382 |
|
Net
Profit |
|
390 |
382 |
-2,583 |
-3,825 |
|
Total
Assets |
|
|
14,321 |
15,011 |
16,025 |
|
Current
Assets |
|
|
6,054 |
5,553 |
4,419 |
|
Current
Liabs |
|
|
7,897 |
9,040 |
7,672 |
|
Net
Worth |
|
|
1,684 |
1,325 |
3,916 |
|
Capital,
Paid-Up |
|
|
1,260 |
1,260 |
1,260 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.95 |
29.61 |
-45.84 |
-29.82 |
|
|
Current Ratio |
|
.. |
76.66 |
61.43 |
57.60 |
|
N.Worth Ratio |
.. |
11.76 |
8.83 |
24.44 |
|
|
R.Profit/Sales |
|
3.07 |
3.06 |
-11.01 |
-8.88 |
|
N.Profit/Sales |
2.03 |
2.03 |
-17.78 |
-14.26 |
|
|
Return On Equity |
.. |
22.68 |
-194.94 |
-97.68 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2012 fiscal term.
CONSOLIDATED FINANCIALS OF THE PARENT,
HONDA MOTOR CO LTD
|
FINANCES: (Consolidated
in million yen) |
|
|||||
|
|
|
Terms Ending: |
31/03/2011 |
31/03/2010 |
||
|
INCOME STATEMENT |
|
|
||||
|
|
Annual Sales |
|
8,936,867 |
8,579,174 |
||
|
|
Cost of Sales |
6,984,432 |
6,878,075 |
|||
|
|
GROSS PROFIT |
1,952,435 |
1,701,099 |
|||
|
|
Selling & Adm Costs |
1,382,660 |
1,337,324 |
|||
|
|
OPERATING PROFIT |
569,775 |
363,775 |
|||
|
|
Non-Operating P/L |
60,773 |
-27,577 |
|||
|
|
RECURRING PROFIT |
630,548 |
336,198 |
|||
|
|
NET PROFIT |
534,088 |
268,400 |
|||
|
BALANCE SHEET |
|
|
|
|||
|
|
Cash |
|
1,279,024 |
1,119,902 |
||
|
|
Receivables |
|
787,691 |
883,476 |
||
|
|
Inventory |
|
899,813 |
935,629 |
||
|
|
Securities, Marketable |
|
|
|||
|
|
Other Current Assets |
1,723,519 |
1,674,717 |
|||
|
|
TOTAL CURRENT ASSETS |
4,690,047 |
4,613,724 |
|||
|
|
Property & Equipment |
1,939,356 |
2,096,663 |
|||
|
|
Intangibles |
|
594,994 |
616,665 |
||
|
|
Investments, Other Fixed Assets |
4,346,477 |
4,302,064 |
|||
|
|
TOTAL ASSETS |
11,570,874 |
11,629,116 |
|||
|
|
Payables |
|
691,520 |
802,464 |
||
|
|
Short-Term Bank Loans |
1,094,740 |
1,066,344 |
|||
|
|
|
|
|
|
||
|
|
Other Current Liabs |
1,781,932 |
1,550,322 |
|||
|
|
TOTAL CURRENT LIABS |
3,568,192 |
3,419,130 |
|||
|
|
Debentures |
|
|
|
||
|
|
Long-Term Bank Loans |
2,043,240 |
2,313,035 |
|||
|
|
Reserve for Retirement Allw |
|
|
|||
|
|
Other Debts |
|
1,376,530 |
1,440,520 |
||
|
|
TOTAL LIABILITIES |
6,987,962 |
7,172,685 |
|||
|
|
MINORITY INTERESTS |
|
|
|||
|
|
Common
stock |
86,067 |
86,067 |
|||
|
|
Additional
paid-in capital |
172,529 |
172,529 |
|||
|
|
Retained
earnings |
5,666,539 |
5,304,473 |
|||
|
|
Evaluation
p/l on investments/securities |
|
|
|||
|
|
Others |
|
(1,316,113) |
(1,034,909) |
||
|
|
Treasury stock, at cost |
(26,110) |
(71,730) |
|||
|
|
TOTAL S/HOLDERS`
EQUITY |
4,582,912 |
4,456,430 |
|||
|
|
TOTAL EQUITIES |
11,570,874 |
11,629,116 |
|||
|
CONSOLIDATED CASH FLOWS |
|
|
||||
|
|
|
Terms ending: |
31/03/2011 |
31/03/2010 |
||
|
|
Cash
Flows from Operating Activities |
|
1,070,837 |
1,544,212 |
||
|
|
Cash
Flows from Investment Activities |
-731,390 |
-595,751 |
|||
|
|
Cash
Flows from Financing Activities |
-100,416 |
-559,244 |
|||
|
|
Cash,
Bank Deposits at the Term End |
|
1,279,024 |
1,119,902 |
||
|
ANALYTICAL RATIOS Terms ending: |
31/03/2011 |
31/03/2010 |
||||
|
|
|
Net Worth
(S/Holders' Equity) |
4,582,912 |
4,456,430 |
||
|
|
|
Current
Ratio (%) |
131.44 |
134.94 |
||
|
|
|
Net
Worth Ratio (%) |
39.61 |
38.32 |
||
|
|
|
Recurring
Profit Ratio (%) |
7.06 |
3.92 |
||
|
|
|
Net
Profit Ratio (%) |
5.98 |
3.13 |
||
|
|
|
Return
On Equity (%) |
11.65 |
6.02 |
||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.