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Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
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Name : |
CATERPILLAR JAPAN LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
November
1963 |
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Com. Reg. No.: |
0109-01-005953
(Tokyo-Setagayaku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of construction machinery, equipment |
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No. of Employees : |
2,968 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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 |
CATERPILLAR JAPAN LTD
Caterpillar Japan
KK
Setagaya Business Square
Tower, 4-10-1 Yoga Setagayaku Tokyo 158-0097JAPAN
Tel:
03-5717-1121 Fax: 03-5717-1129
URL: http://www.japan.cat.com/
E-mail: info@japan.cat.com
Mfg of construction machinery, equipment
Sagamihara
(Sagami Office), Chichibu, Akashi
Sagamihara
(Sagami Plant), Akashi, Chichibu (Studio, exhibition)
NORIYUKI
TAKEUCHI, PRES
Akira Hishikawa, dir
Hiroki Odate, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 366,018 M
PAYMENTS No
Complaints CAPITAL Yen 15,000 M
TREND UP WORTH Yen 74,153 M
STARTED 1963 EMPLOYES 2,968
MFR OF
CONSTRUCTION MACHINERY
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established as a JV between Mitsubishi Heavy Ind and Caterpillar International, as Shinn Caterpillar Mitsubishi Co Ltd. Renamed as captioned in 2008. This is a maker of construction machinery & equipment, hydraulic shovels, power shovels, wheel loaders, bulldozers, dump trucks, their components & parts. In Apr 2012, Caterpillar became the sole owner of the firm. Clients are major construction companies & government agencies, nationwide.
The sales volume for Dec/2011 fiscal term amounted to Yen 366,018 million, a 35% up from Yen 271,876 million in the previous term. The Great East Earthquake that hit the eastern Japan created new and increased demand for the construction machinery. The recurring profit was posted at Yen 21,111 million and the net profit at Yen 8,205 million, respectively, compared with Yen 25,420 million recurring profit and Yen 19,592 million net profit, respectively, a year ago.
For the current term ending Dec 2012 the recurring profit is projected at Yen 22,000 million and the net profit at Yen 8,500 million, respectively, on a 5% rise in turnover, to Yen 385,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1963
Regd No.: 0109-01-005953 (Tokyo-Setagayaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 46,200
shares
Issued: 46,200
shares
Sum: Yen
13,100 million
Major shareholders (%): Caterpillar International
Investments (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures construction machinery/ equipment, their components & parts (--100%): power shovels, hydraulic shovels, wheel loaders, bulldozers, dump trucks, tractor shovels, other.
(Mg & handling
items):
Tractor & Haulers: bulldozers, track-type loaders, wheel loaders, mini wheel loaders, dump trucks, rough terrain haulers, motor scrapers;
Excavators: hydraulic excavators, mini hydraulic excavators;
Road Equipment: motor graders, asphalt finishers, surface recycling equipment;
Disposal, Forest Machine: landfill compactor, compactor, skidder;
Recycle Equipment: crusher, shredder, soil blender, wood crusher, tab grinder, bark blower, trammel, vibrating screen, other.
Clients: [Construction companies, governments] Kajima Corp, Taisei Corp, Shimizu Corp, Obayashi Corp, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers [Mfrs, wholesalers] Caterpillar Inc, Mitsubishi Heavy Ind, Mitsubishi Corp, Press Ind, Kobe Sharling, Metal One Specialty Steel Corp, Mitsubishi Corporation Technos, other.
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(H/O)
City
Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
Annual
Sales |
|
385,000 |
366,018 |
271,876 |
109,513 |
|
Recur.
Profit |
|
22,000 |
21,111 |
25,425 |
-31,544 |
|
Net
Profit |
|
8,500 |
8,205 |
19,592 |
-9,201 |
|
Total
Assets |
|
|
234,526 |
189,011 |
160,499 |
|
Current
Assets |
|
|
166,818 |
115,433 |
85,572 |
|
Current
Liabs |
|
|
152,228 |
110,684 |
94,812 |
|
Net
Worth |
|
|
74,153 |
66,000 |
46,013 |
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Capital,
Paid-Up |
|
|
15,000 |
15,000 |
15,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.19 |
34.63 |
148.26 |
-67.20 |
|
|
Current Ratio |
|
.. |
109.58 |
104.29 |
90.25 |
|
N.Worth Ratio |
.. |
31.62 |
34.92 |
28.67 |
|
|
R.Profit/Sales |
|
5.71 |
5.77 |
9.35 |
-28.80 |
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N.Profit/Sales |
2.21 |
2.24 |
7.21 |
-8.40 |
|
|
Return On Equity |
.. |
11.06 |
29.68 |
-20.00 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.44 |
|
UK Pound |
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.62 |
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 |
|
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 |
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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 |
|
<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.