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Report Date : |
05.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
UBE MACHINERY CORPORATION LTD |
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Registered Office : |
980 Okinoyama Kogushi Ube Yamaguchi-Pref 755-8633 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September, 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of Industrial Machinery |
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No. of Employees : |
710 |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
UBE MACHINERY
CORPORATION LTD
REGD NAME: Ube Kosan Kikai KK
MAIN OFFICE: 980 Okinoyama Kogushi Ube Yamaguchi-Pref
755-8633 JAPAN
Tel: 0836-22-0072 Fax:
0836-22-6457
E-Mail address: (thru the URL)
Mfg of industrial machinery
Tokyo, Omiya, Shizuoka, Nagoya, Osaka (2), Hiroshima, Okinawa
Korea, Taiwan, China, Thailand, India, Germany (2)
At the caption address
YUKIO HISATSUGU, PRES Tokuhisa
Okada, ch
Shoichi Miki, s/mgn dir Yoshiyuki
Tamechika, mgn dir
Hironari Maeda, dir Hisao
Yamane, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 34,614 M
PAYMENTS REGULAR CAPITAL Yen
6,700 M
TREND UP WORTH Yen 25,613 M
STARTED 1999 EMPLOYES 710
MFR OF INDUSTRIAL MACHINERY, OWNED BY UBE INDUSTRIE LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established on the basis of a division separated
from Ube Industries Ltd (See REGISTRATION). This is a specialized mfr of industrial machinery:
die casting machine, injection molding, extrusion press, other. In 2012 went into mfg tie-up of die casting
machines with Toyo Machinery & Metal Co Ltd. In Oct 2013 merged into a sister company, Ube
Techno End Co. Clients include major car
makers, government agencies, other
The sales volume for Mar/2013 fiscal term amounted to Yen 34,614
million, a 13% up from Yen 30,573 million in the previous term. This is attributed to the said tie-ups with
Toyo Machinery & Metal, whereby production expanded rapidly. The recurring profit was posted at Yen 3,172
million and the net profit at Yen 2,243 million, respectively, compared with
Yen 1,862 million recurring profit and yen 1,347 million net profit,
respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 3,500 million and the net profit at Yen 2,500 million, respectively, on
a 10% rise in turnover, to Yen 38,000 million.
Sales are expected to grow further by the said merger of a sister
company.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept
1999
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 88,000 shares
Issued:
22,000 shares
Sum: Yen
6,700 million
Major shareholders
(%): Ube Industrial Ltd* (100)
*.. Diversified mfr of chemicals & cement, Tokyo, founded 1942,
listed Tokyo S/E, capital Yen 58,435 million, sales Yen 626,022 million,
operating profit Yen 29,962 million, recurring profit Yen 28,045 million, net
profit Yen 8,265 million, total assets Yen 707,112 million, net worth Yen
218,151 million, employees 11,397, pres Michio Takeshita
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures
industrial machinery die casting
machines (51%), injection molding, extrusion press, vertical mill, kiln (24%),
bulk handling machines, water screening equipment, bridges, floodgate, steel structure,
other (14%), other industrial equipment (11%)
Clients: Auto
makers, aluminum makers, Government agencies, cement makers, other Exports to
overseas makers.
No.
of accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Ube Steel, TU Electronics,
Obayashi Corp, Yokoyama Haguruma Co, Yokoyama Construction Ind, other
Payment Record: Regular
Location: Business
area in Ube, Yamaguchi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
MUFG
Bank (Tokyo)
Mizuho
Bank (H/O)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
38,000 |
34,614 |
30,573 |
31,662 |
|
Recur.
Profit |
|
3,500 |
3,172 |
1,862 |
1,501 |
|
Net
Profit |
|
2,500 |
2,243 |
1,347 |
1,024 |
|
Total
Assets |
|
|
45,387 |
41,130 |
40,923 |
|
Current
Assets |
|
|
27,989 |
23,960 |
|
|
Current
Liabs |
|
|
19,434 |
16,774 |
|
|
Net
Worth |
|
|
25,613 |
24,091 |
23,154 |
|
Capital,
Paid-Up |
|
|
6,700 |
6,700 |
6,700 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
9.78 |
13.22 |
-3.44 |
-2.29 |
|
|
Current Ratio |
|
.. |
144.02 |
142.84 |
.. |
|
N.Worth Ratio |
.. |
56.43 |
58.57 |
56.58 |
|
|
R.Profit/Sales |
|
9.21 |
9.16 |
6.09 |
4.74 |
|
N.Profit/Sales |
6.58 |
6.48 |
4.41 |
3.23 |
|
|
Return On Equity |
.. |
8.76 |
5.59 |
4.42 |
|
Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.102.18 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.