|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAKINO MFG CO LTD |
|
|
|
|
Registered Office : |
2-11-8 Higashi-Yotsugi Katsushikaku Tokyo
124-0014 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.01.2013 |
|
|
|
|
Date of Incorporation : |
June, 1943 |
|
|
|
|
Com. Reg. No.: |
0110-01-004477 (Tokyo-Katsushikaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturing of grinder, crusher, mixer,
dryer, other for food industry |
|
|
|
|
No. of Employees : |
31 |
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 |
MAKINO MFG CO LTD
Makino Sangyo KK
2-11-8
Higashi-Yotsugi Katsushikaku Tokyo 124-0014 JAPAN
Tel:
03-3691-8441 Fax: 03-3691-8445
URL: http://www.mkn.co.jp
E-Mail address: ask@mkn.co.jp
Mfg of grinder,
crusher, mixer, dryer, other for food industry
Chiba, Ibaraki
At the caption
address, Chiba, Ibaraki
TOSHIMITSU MAKINO,
PRES
Toshiharu Inanaga,
dir
Yuhei Makino, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 644 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 20 M
TREND SLOW WORTH Yen 112 M
STARTED 1943 EMPLOYES 31
MFR OF GRINDER, CRUSHER, OTHER FOR FOOD INDUSTRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1929 by Giichiro
Makino for making Makino grinders, on his account. Incorporated in 1943 the firm has been
succeeded by his descendants. This is a
specialized mfr of grinders, crushers, mixers, dryers, others for food
industry. Goods are exported. Also the firm act as import agent for
overseas makers in USA, other.
The sales volume for Jan/2013 fiscal term amounted to Yen 644 million, a
5% down from Yen 676 million in the previous term. Exports were hurt by the high Yen, reducing
revenues in Yen terms. However, the
profits were improved. The net profit
was posted at Yen 15 million, compared with yen 3 million net losses a year
ago.
For the current term ending Jan 2014 the net profit is projected at Yen
18 million, on a 4% rise in turnover, to Yen 670 million. Business is seen expanding steadily. Weaker Yen may raise export revenues in Yen
terms.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun 1943
Regd No.:
0110-01-004477
(Tokyo-Katsushikaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 160,000
shares
Issued: 40,000
shares
Sum: Yen
20 million
Major shareholders (%): Toshimitsu
Makino (98), Akiko Makino (2)
No. of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures: grinders, crushers,
mixers, dryers, others for the food industry (--100%)
Goods are exported
to China, other s/E Asian countries.
Also acts as import
agents for overseas makers, in USA, other.
Clients: [Mfrs, wholesalers] Asahi Kasei Corp
(EMS), Sumitomo Chemical Ind, Mitsubishi Chemical, Mitsubishi Gas Chemical,
Hosokawa Micron group, Teijin Ltd, Mitsui Chemical, other.
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fluid Engineering Co,
Kanaden Corp, Ochiai & Co, Tokyo Kogu Shokai, other
Payment record: No Complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
Tokyo Higashi
Shinkin Bank (Katsushika)
MUFG (Mukojima)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/01/2014 |
31/01/2013 |
31/01/2012 |
31/01/2011 |
|
|
Annual
Sales |
|
670 |
644 |
676 |
532 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
18 |
15 |
-3 |
2 |
|
Total
Assets |
|
|
469 |
453 |
N/A |
|
Current
Assets |
|
|
441 |
423 |
|
|
Current
Liabs |
|
|
314 |
299 |
|
|
Net
Worth |
|
|
112 |
98 |
|
|
Capital,
Paid-Up |
|
|
20 |
20 |
|
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
4.04 |
-4.73 |
27.07 |
0.57 |
|
|
Current Ratio |
|
.. |
140.45 |
141.47 |
.. |
|
N.Worth Ratio |
.. |
23.88 |
21.63 |
.. |
|
|
R.Profit/Sales |
|
.. |
.. |
.. |
.. |
|
N.Profit/Sales |
2.69 |
2.33 |
-0.44 |
0.38 |
|
|
Return On Equity |
.. |
13.39 |
-3.06 |
.. |
|
Notes: Financials
are only partially disclosed until the 31/01/2011 fiscal term.
Forecast (or
estimated) figures for the 31/01/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.74 |
|
|
1 |
Rs.92.05 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.