|
Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
YAMABISHI CORPORATION |
|
|
|
|
Registered Office : |
2-4-18 Omori-Kita Ohtaku Tokyo 143-0016 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
March 1958 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Ohtaku) 015499 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of power supply |
|
|
|
|
No. of Employees : |
68 |
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 |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 small
agricultural sector is highly subsidized and protected, with crop yields among
the highest in the world. While self-sufficient in rice production, Japan
imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the economy has
fallen into recession three times since 2008. A sharp downturn in business
investment and global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus and regulatory reform and has said he will press the Bank of Japan to
loosen monetary policy. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2012 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 2012. The new government will
continue a longstanding debate 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
YAMABISHI CORPORATION
REGD NAME: KK
Yamabishi
MAIN OFFICE: 2-4-18
Omori-Kita Ohtaku Tokyo 143-0016 JAPAN
Tel:
03-3767-8861 Fax: 03-3767-7080
URL: http://www.yamabishi.co.jp/
E-mail: info@yamabishi.co.jp
Mfg of power
supply
Nagoya, Osaka
Ebina (Kanagawa)
KAZUNORI HASUIKE,
PRES
Tetsuro Tsuboi,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 997 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
30 M
TREND SLOW WORTH Yen
247 M
STARTED 1958 EMPLOYES 68
MFR SPECIALIZING
IN POWER SUPPLY
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was
established originally in 1939 by father of Kazunori Hasuike, on his account,
in order to make most of his experience in the subject line of business. Originally the firm was selling electric
equipment & parts. Incorporated in
1958, the firm switched operations to the mfg of power supply & parts. Products manufactured are: circle changer,
DC/AC inverter, high voltage power supply, uninterruptible power supply (UPS),
other (See OPERATION). Clients include electronics makers,
electricity makers, and other mfrs, nationwide
The sales volume for
Mar/2012 fiscal term amounted to Yen 997 million, a 9% down from Yen 1,092
million in the previous term. Exports
were hurt by the high Yen, reducing revenues in Yen terms. The recurring profit was posted at Yen 68
million and the net profit at Yen 24 million, respectively, compared with Yen
94 million recurring profit and Yen 17 million net profit, respectively, a year
ago. Extraordinary losses were reduced.
For the term that
ended Mar 2013 the recurring profit was projected at Yen 70 million and the net
profit at Yen 25 million, respectively, on a 3% rise in turnover, to Yen 1,030
million. Final results are yet to be
released.
The financial situation
is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1958
Regd No.:
(Tokyo-Ohtaku) 015499
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 60,000 shares
Sum: Yen 30 million
Major shareholders (%): Kazunori Hasuike
& families (--100%)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
power supply & parts: circle changer, DC/AC inverter, battery charge –
discharge devices, high voltage power supply, voltage regulator/transformer,
electric measuring instruments, uninterruptible power supply (UPS), DC power
supply, automatic voltage regulator, load equipment, other (--100%).
Clients: [Electronic
makers, wholesalers] Toshiba System Technology, Japan Aerospace Exploration
Agency, Kokosha Co, Fuji Electric Systems, Meiji Electric Ind, Ryoden Trading,
Nihon Denkei, Ryosan Co, Yokogawa & Co, Shikoku Kakoki Co, Yokogawa &
Co, Electric Power Development Co, Nishikawa Keisoku Co, Shikoku Kakoki Co,
Inaba Denki Sangyo, Senshu Electronics, Omron Relay & Device Corp, other
No. of accounts: 600
Domestic areas of
activities: Nationwide
Suppliers [Mfrs,
wholesalers] Ryosan, Ryoden Trading, Yoshimi Trading, Kyodo Denki Co, Miyoshi
Electronics, Hitachi Kasei Shoji, Futaba Kogyo, Shinwa Denshi, Sakamoto Koki
Co, Hamasonic Co, Higashi Electronics Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank References:
Bank of Yokohama
(Omori)
Resona Bank
(Toranomon)
Relations:
Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
1,030 |
997 |
1,092 |
832 |
|
Recur.
Profit |
|
70 |
68 |
94 |
|
|
Net
Profit |
|
25 |
24 |
17 |
12 |
|
Total
Assets |
|
|
1,598 |
1,604 |
1,642 |
|
Current
Assets |
|
|
591 |
513 |
528 |
|
Current
Liabs |
|
|
202 |
367 |
477 |
|
Net
Worth |
|
|
247 |
223 |
205 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.31 |
-8.70 |
31.25 |
-31.24 |
|
|
Current Ratio |
|
.. |
292.57 |
139.78 |
110.69 |
|
N.Worth Ratio |
.. |
15.46 |
13.90 |
12.48 |
|
|
R.Profit/Sales |
|
6.80 |
6.82 |
8.61 |
.. |
|
N.Profit/Sales |
2.43 |
2.41 |
1.56 |
1.44 |
|
|
Return On Equity |
.. |
9.72 |
7.62 |
5.85 |
|
Notes: Forecast
(or estimated) figures for the 31/03/2013 fiscal term
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.