|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONDA FOUNDRY CO LTD |
|
|
|
|
Registered Office : |
1620 Mature Kawagoe Saitama-Pref 350-1101 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 1963 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of car engines, chassis components, aluminum alloy parts, die mold |
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|
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No. of Employees : |
727 |
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 |
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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 |
|
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
HONDA FOUNDRY CO LTD
REGD NAME: Honda
Kinzoku Gijutsu KK
MAIN OFFICE: 1620
Mature Kawagoe Saitama-Pref 350-1101 JAPAN
Tel:
049-231-1521 Fax: 049-233-1139
URL: http://www.hondakinzoku.co.jp
E-Mail address: (thru the URL)
Mfg of car
engines, chassis components, aluminum alloy parts, die mold
Fukushima
USA (2), China
(4), India, Indonesia, Thailand, Philippines (--factories)
At the caption
address, Fukushima
YOSUKE NARITA,
PRES Takahiro
Suenaga, dir
Naoharu
Watanabe, dir Takashi
Yamanaka, dir
Hoichi
Takahashi, dir Takenori
Yamaguchi
Takashi Yamanaka,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 17,558 M
PAYMENTSNO COMPLAINTS CAPITAL Yen
1,260 M
TREND SLOW WORTH Yen 2,493 M
STARTED 1963 EMPLOYES 727
MFR OF CAR ENGINES, COMPONENTS, OTHER, OWNED BY HONDA
MOTOR CO LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was
established on the basis of a division separated from Honda Motor Co Ltd (See REGISTRATION). This is a specialized mfr of
automobile/motorcycle engines, chassis components, aluminum alloy parts, die
mold coatings, other. Products are
manufactures at overseas factories, in addition to domestic factories. Products are shipped to the parent, Honda
Motor Co, and other car makers.
The sales volume for
Mar/2013 fiscal term amounted to Yen 17,558 million, a 1% down from Yen 17,722
million in the previous term. The
recurring profit was posted at Yen 923 million and the net profit at Yen 752
million, respectively, compared with Yen 358 million recurring profit and Yen
31 million net profit, respectively, a year ago.
For the current term
ending Mar 2014 the recurring profit is projected at Yen 950 million and the
net profit at Yen 800 million, respectively, on a 3% rise in turnover, to Yen
18,000 million. Motorcycle sales are expanding
in Asia.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
Date Registered: Dec
1963
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 10 million shares
Issued: 2.52 million shares
Sum: Yen 1,260 million
Major shareholders (%): Honda Motor Co
Ltd* (55)
No. of shareholders: 7
*.. Honda Motor Co
Ltd, major car makers ranked 2nd in domestic market, founded 1948,
Listed Tokyo S/E, capital Yen 86,067 million, sales Yen 9,877,947
million, operating profit Yen 544,810 million, recurring profit Yen 488,891
million, net profit Yen 367,149, total assets Yen 1,3675,357 million, net worth
Yen 5,037,477 million, employees 24,888, pres Takanobu Ito
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
automobile/motorcycle engines, chassis components, aluminum alloy parts, die
mold coatings, other (--100%)
(Mfg
items): piston, cylinder heads, intake manifold, injector base, hub wheel, swing
arm,
Fork-top bridge, water passage, bracket,
transfer case, other
Clients: [Car makers, car
parts makers] Honda Motor (80%), Mitsubishi Motor, Fuji Heavy Ind, Denso Co,
Kawasaki Heavy Ind, Mitsubishi Heavy Ind, Denso Corp, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Honda Motor, Honda Trading, Summit Showa Aluminum, Nikkei MC
Aluminum, Daiki Aluminum Ind, other
Payment record: No Complaints
Location: Business area in
Kawagoe, Saitama-Pref. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
(Shimo-Akatsuka)
Saitama Resona
Bank (Kawagoe)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
18,000 |
17,558 |
17,722 |
18,833 |
|
Recur.
Profit |
|
950 |
923 |
358 |
577 |
|
Net
Profit |
|
800 |
752 |
31 |
382 |
|
Total
Assets |
|
|
14,574 |
14,719 |
14,321 |
|
Current
Assets |
|
|
8,970 |
6,978 |
6,054 |
|
Current
Liabs |
|
|
7,426 |
8,206 |
7,897 |
|
Net
Worth |
|
|
2,493 |
1,792 |
1,684 |
|
Capital,
Paid-Up |
|
|
1,260 |
1,260 |
1,260 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.52 |
-0.93 |
-5.90 |
29.61 |
|
|
Current Ratio |
|
.. |
120.79 |
85.04 |
76.66 |
|
N.Worth Ratio |
.. |
17.11 |
12.17 |
11.76 |
|
|
R.Profit/Sales |
|
5.28 |
5.26 |
2.02 |
3.06 |
|
N.Profit/Sales |
4.44 |
4.28 |
0.17 |
2.03 |
|
|
Return On Equity |
.. |
30.16 |
1.73 |
22.68 |
|
Notes: Forecast (or estimated) figures for the
31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.68.36 |
|
|
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
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.