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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
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Name : |
HASHIMOTO DENKI CO LTD |
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Registered Office : |
5-1-17 Shindencho Takahama Aichi-Pref 444-1301 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
August, 1954 |
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Com. Reg. No.: |
1803-01-015874 |
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Legal Form : |
Limited Company |
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Line of Business : |
Mfg of plywood mfg machines, roller conveyors, other |
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No. of Employees : |
110 |
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 |
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Maximum Credit Limit: |
Yen 147.3 million |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 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 |
HASHIMOTO DENKI CO
LTD
Hashimoto Denki Kogyo KK
5-1-17 Shindencho Takahama Aichi-Pref 444-1301 JAPAN
Tel: 0566-53-1866 Fax:
0566-53-6914
E-Mail address: info@hdk-co.com
Mfg of plywood mfg machines, roller conveyors, other
Nil
At the caption address
YASUNORI HASHIMOTO, PRES
Jun’ichiro Hashimoto, mgn dir Shigeki
Takeda, dir
Kiyoshi Nagasawa, dir Kenji
Suzuki, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 7,545 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
96 M
TREND STEADY WORTH Yen 3,597 M
STARTED 1954 EMPLOYES 110
MFR OF PLYWOOD MFG MACHINERY & RELATED.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 147.3 MILLION, 30 DAYS NORMAL TERMS
The subject company was established originally in 1945 by Saburo
Hashimoto for mfg plywood processing equipment, on his account. Incorporated in 1954, the firm has been
succeeded by his descendants. Yasunori
is the founder’s son, who took the pres office in 1986. This firm specializes in mfg plywood mfg
machines & equipment centrally, roller conveyers, others (See OPERATION).
Goods are also imported and exported.
The sales volume for Jun/2012 fiscal term amounted to Yen 7,545 million,
a 116% up from Yen 3,119 million in the previous term. Large lot orders came from overseas and sales
rose. The recurring profit was posted at
Yen 568 million and the net profit at Yen 116 million, respectively, compared
with Yen 212 million recurring profit and Yen 117 million net profit,
respectively, a year ago.
For the term that ended June 2013 the recurring profit was projected at
Yen 300 million and the net profit at Yen 115 million, respectively, on a 45%
fall in turnover, to Yen 4,100 million. Large
lot orders were for the one time only, and the business returned to the normal
level. Final results are yet to be
released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 147.3 million, on 30 days normal terms.
Date Registered: Aug 1954
Regd No.: 1803-01-015874 (Aichi-Takahama)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
768,000 shares
Issued: 192,000 shares
Sum: Yen 96 million
Major shareholders
(%):
Yasunori Hashimoto (11), Employees’ S/Holding Assn (9), Jun’ichiro Hashimoto
(5), Hashiei Kogyo (5)
No. of
shareholders: 50-100
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures,
imports & exports plywood mfg machines & related (--100%).
(Products lines):
Automatic
Production Facilities: basic palletizing robot, internal debarring system,
automatic inking system, reserve tank welding robot, rear suspension automatic
sub-assembly line;
Building Materials
Facilities: veneer welder, suction stacker, panel coating system, scarf joiner,
direct system, automatic reeling;
Housing Production
Facilities: ALC corner panel, designing machines, JD jet dryer, container automatic
feed system, other.
Clients: [Mfrs,
wholesalers] Sumitomo Forestry Crest, Toyota Tsusho Corp, Seihoku Plywood
Group, Sanko Plywood, Temco, Okaya & Co, Nisshin Group, Seihoku Corp,
Nisshin A&C Co, other
No. of accounts: 500
Domestic areas of activities:
Nationwide
Suppliers: [Mfrs,
wholesalers] Tokai Shoji, Uroko Machinery, Itoh Dendo Kogyo, Hashiei Kogyo, Ito
Dendo Kogyo Co, Meiji Electric Ind, other.
Payment record: No Complaints
Location: Business area in
Takahama City, Aichi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Aichi Bank (Kariya)
SMBC (Kariya)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual Sales |
|
4,100 |
7,545 |
3,119 |
1,986 |
|
Recur. Profit |
|
300 |
568 |
212 |
-40 |
|
Net Profit |
|
115 |
116 |
117 |
-43 |
|
Total Assets |
|
|
6,970 |
6,659 |
4,347 |
|
Current Assets |
|
|
5,964 |
5,417 |
3,194 |
|
Current Liabs |
|
|
2,985 |
2,833 |
516 |
|
Net Worth |
|
|
3,597 |
3,488 |
3,370 |
|
Capital, Paid-Up |
|
|
96 |
96 |
96 |
|
Div.Ttl Million (¥) |
|
|
6.9 |
0.00 |
7 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
-45.66 |
141.90 |
57.05 |
-56.72 |
|
|
Current Ratio |
|
.. |
199.80 |
191.21 |
618.99 |
|
N.Worth Ratio |
.. |
51.61 |
52.38 |
77.52 |
|
|
R.Profit/Sales |
|
7.32 |
7.53 |
6.80 |
-2.01 |
|
N.Profit/Sales |
2.80 |
1.54 |
3.75 |
-2.17 |
|
|
Return On Equity |
.. |
3.22 |
3.35 |
-1.28 |
|
Notes: Forecast (or estimated) figures for the 30/06/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.