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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MITSUI SEKI KOGYO CO LTD |
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Registered Office : |
6-13 Hachiman Kawajima-Machi Hikigun
Saitama-Pref 350-0193 |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April 1950 |
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Com. Reg. No.: |
0300-01-107421
(Saitama^Hikigun) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of machine tools |
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No. of Employees : |
702 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 a technologically 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. Japan's industrial
sector is heavily dependent on imported raw materials and fuels. A tiny
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. Usually self-sufficient in rice, Japan imports about
60% of its food on a caloric basis. Japan maintains one of the world's largest
fishing fleets and accounts for nearly 15% of the global catch. For three
decades, overall real economic growth had been spectacular - 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 after
effects 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. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2011 stood as the fourth-largest economy
in the world after second-place China, which surpassed Japan in 2001, and
third-place India, which edged out Japan in 2011. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan
further into recession. 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 in March disrupted manufacturing. Electricity supplies
remain tight because Japan has temporarily shut down almost all of its nuclear
power plants after the Fukushima Daiichi nuclear reactors were crippled by the
earthquake and resulting tsunami. Estimates of the direct costs of the damage -
rebuilding homes, factories, and infrastructure - range from $235 billion to
$310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko
NODA has proposed opening the agricultural and services sectors to greater
foreign competition and boosting exports through membership in the US-led
Trans-Pacific Partnership trade talks and by pursuing free-trade agreements
with the EU and others, but debate continues on restructuring the economy and
reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent
deflation, reliance on exports to drive growth, and an aging and shrinking
population are other major long-term challenges for the economy.
|
Source : CIA |
MITSUI SEKI KOGYO CO LTD
Mitsui Seiki Kogyo
KK
6-13 Hachiman Kawajima-Machi
Hikigun Saitama-Pref 350-0193 JAPAN
Tel:
049-297-9133 Fax: 049-297-9133
URL: http://www.mitsuiseiko.co.jp
E-Mail address: (thru the URL)
Mfg of
machine tools
Tokyo,
Nagoya, Osaka, Hiroshima, Sendai, other
USA,
France, China, Thailand, India
At the
caption address
KOICHI
IWAKURA, PRES Takashi Terasawa,
s/mgn dir
Seizo
Kawabe, mgn dir Tetsuro Shibukawa, mgn
dir
Fumito
Shimizu, dir Kin’ichi
Kato, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 19,635 M
PAYMENTS No Complaints CAPITAL Yen
948 M
TREND UP WORTH Yen 6,835 M
STARTED 1950 EMPLOYES 702
MFR OF MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established as the first domestic company to mfr precision machining tools which had been supplied by overseas mfrs. In 1942 merged with Mitsui Kosakuki KK and name changed as captioned. This is a specialized mfr of precision machine tools, machining centers, jig boring machines, other (See OPERATION) Tope in the mfg of nail grinding machines in the world. Clients include heavy machinery makers, general trading firms, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 19,635 million, a 19% up from Yen 16,471 million in the previous term. Exports were robust and increased substantially. The operations came back to profitability to post Yen 438 million recurring profit and Yen 326 million net profits, respectively, compared with Yen 58 million recurring loss and Yen 94 million net losses, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 450 million and the net profit at Yen 350 million, respectively, on a 4% rise in turnover, to Yen 20,500 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1950
Regd No.: 0300-01-107421 (Saitama^Hikigun)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
75 million shares
Issued:
18.96 million shares
Sum: Yen 948 million
Major shareholders (%): JTEKT Corp* (100)
*.. One of leading bearing mfr associated with Toyota Motor, Nagoya, listed Tokyo, Osaka, Nagoya S/E’s, capital Yen 45,591 million, sales Yen 1,052,671 million, operating profit Yen 35,657 million, recurring profit Yen 38,649 million, net profit Yen 13,303 million, total assets Yen 917,439 million, net worth Yen13,303 million, employees 40,292, pres Shoji Ikawa
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures precision machining tools (55.6%), industrial machinery, other (--44.4%): machining center, jig boring machines, jig grinding machines, nail grinding machines, nail boring machines, others.
Clients: [Mfrs, wholesalers] Mitsui Bussan Machinery Corp, THK, Hino Motor, Kanematsu KGK, Yamazen Corp, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fanuc Corp, Donaldson Japan, CKD, o9ther
Payment record: No Complaints
Location: Business area in Saitama. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC (Nihombashi)
Mitsui Sumitomo Trust Bank (Nihombashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
20,500 |
19,635 |
16,471 |
13,060 |
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Recur.
Profit |
|
450 |
438 |
-58 |
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Net
Profit |
|
350 |
326 |
-94 |
-1,814 |
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Total
Assets |
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25,915 |
24,932 |
23,921 |
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Current
Assets |
|
|
13,072 |
11,719 |
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Current
Liabs |
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|
11,089 |
10,326 |
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Net
Worth |
|
|
6,835 |
6,244 |
6,343 |
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Capital,
Paid-Up |
|
|
948 |
948 |
948 |
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Div.P.Share(¥) |
|
|
3.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.41 |
19.21 |
26.12 |
-44.81 |
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Current Ratio |
|
.. |
117.88 |
113.49 |
.. |
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N.Worth Ratio |
.. |
26.37 |
25.04 |
26.52 |
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R.Profit/Sales |
|
2.20 |
2.23 |
-0.35 |
.. |
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N.Profit/Sales |
1.71 |
1.66 |
-0.57 |
-13.89 |
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|
Return On Equity |
.. |
4.77 |
-1.51 |
-28.60 |
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Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
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UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.