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Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAMADA HEAVY INDUSTRIES LTD |
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|
|
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Registered Office : |
1-1-36 Makiyama Tobataku Kitakyushu
Fukuoka-Pref 804-0053 |
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|
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Country : |
Japan |
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|
|
Financials (as on) : |
31.07.2013 |
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Date of Incorporation : |
June 1950 |
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Com. Reg. No.: |
2908-01-003064 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of steel products,
engineering works |
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|
No. of Employees : |
1,743 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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
HAMADA HEAVY INDUSTRIES LTD
REGD NAME: Hamada
Jyuko KK
MAIN OFFICE: 1-1-36
Makiyama Tobataku Kitakyushu Fukuoka-Pref 804-0053 JAPAN
Tel:
093-883-0369 Fax: 093-882-2768
URL: www.hamada-kico.jp
E-Mail address: info@hamada-kico.jp
Mfg of steel
products, engineering works
Tokyo, Osaka,
Yahata, Hikari, Oita, Kakogawa, Sakai, other (Tot 9)
Malaysia, Taiwan
At the caption
address
YUTAKA MATSUMOTO,
PRES Michio Shigeki, mgn dir
Hirofumi Isonaga,
mgn dir Takashi Murayama, dir
Hiroyuki Momoi,
dir Akinori Shin, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 26,135 M
PAYMENTS REGULAR CAPITAL Yen 326 M
TREND SLOW WORTH Yen
18,796 M
STARTED 1950 EMPLOYES 1,743
MFR OF STEEL PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1989 by Yonejiro
Hamada, on his account, and was incorporated in 1950 by Misuji Hamada. Yutaka is his son. This is a specialized mfr of steel products
for delivery to steel plants. Also
offers engineering works. Clients
include major steel mfrs, other mfrs.
The sales volume for Jul/2013 fiscal term amounted to Yen 26,135
million, a 4% down from Yen 27,233 million in the previous term. Unit prices of some of the steel products were
down. Exports to Chin & Taiwan continued increasing. The recurring profit was posted at Yen 2,666
million and the net profit at Yen 1,698 million, respectively, compared with
Yen 1,932 million recurring profit and Yen 1,041 million net profit, respectively,
a year ago.
For the current term ending Jul 2014 the recurring profit is projected
at Yen 2,700 million and the net profit at Yen 1,750 million, respectively, on
a 3% rise in turnover, to Yen 27,000 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Jun
1950
Regd No.:
2908-01-003064
(Kitakyushu-Tobataku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2.6
million shares
Issued:
652,000 shares
Sum: Yen 326 million
Major
shareholders (%): Kiku Shoji KK
(23), Yohei Hamada (22),Yutaka Matsumoto (19), Takachiho Shoko KK (18),
Employees’ S/Holding Assn (13), other
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
steel products (65%), engineering works, silicon, other (35)
(Breakdowns are all about)
Clients: [Steel mills,
mfrs, wholesalers] Nippon Steel & Sumitomo Metal Corp, Nippon Steel & Sumikin
Stainless Steel Corp, Mitsui Bussan Electronics, Elpida Memory, Nippon-Chemicon
Corp, Toshiba Corp, Mitsubishi Heavy Ind, Kobe Steel, Osaka Steel Co, other
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers]
Hamadatec Malaysia, Transport Approach, Uchimura Sanso Co, Nittetsu Steel &
Sumikin Bussan Corp, Suematsu Kyuki Co, Fuyo General Lease Co, Ando Corp, Omori
Kogyosho, other
Payment record: Regular
Location: Business area in
Kitakyushu, Fukuoka-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References: Mizuho Bank
(Kitakyushu)
MUFG
(Kitakyushu)
Relations:
Satisfactory
(In Million
Yen)
|
Terms Ending: |
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
|
|
Annual
Sales |
|
27,000 |
26,135 |
27,233 |
25,778 |
|
Recur.
Profit |
|
2,700 |
2,666 |
1,932 |
1,289 |
|
Net
Profit |
|
1,750 |
1,698 |
1,041 |
1,155 |
|
Total
Assets |
|
|
29,545 |
29,176 |
29,981 |
|
Current
Assets |
|
|
15,396 |
13,542 |
13,280 |
|
Current
Liabs |
|
|
7,265 |
7,439 |
8,195 |
|
Net
Worth |
|
|
18,796 |
17,188 |
18,237 |
|
Capital,
Paid-Up |
|
|
326 |
326 |
326 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.31 |
-4.03 |
5.64 |
8.22 |
|
|
Current Ratio |
|
.. |
211.92 |
182.04 |
162.05 |
|
N.Worth Ratio |
.. |
63.62 |
58.91 |
60.83 |
|
|
R.Profit/Sales |
|
10.00 |
10.20 |
7.09 |
5.00 |
|
N.Profit/Sales |
6.48 |
6.50 |
3.82 |
4.48 |
|
|
Return On Equity |
.. |
9.03 |
6.06 |
6.33 |
|
Notes: Forecast
(or estimated) figures for the 31/07/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.