|
Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAKKO CO LTD |
|
|
|
|
Registered Office : |
1486 Isobe Chikuma City Nagano-Pref
389-0806 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
August 1944 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of medical equipment & supplier of injection needles,
operation tables & equipment. |
|
|
|
|
No. of Employees : |
272 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
HAKKO CO LTD
KK Hakko
1486 Isobe Chikuma
City Nagano-Pref 389-0806 JAPAN
Tel:
026-275-0121 Fax: 026-276-0491
URL: www.hakko.co.jp
E-Mail address: (thru the URL)
Mfg of
medical equipment & supplies: operation instruments, injection needle
Tokuyo (2), Sendai
At the
caption address
MASARU
MARUYAMA, PRES Ryoichi Sakha, ch
Shuji
Kikuchi, v ch Toshinori Ichikawa, v ch
Kotobuki
Sekiguchi, dir Kiyoshi
Ishiai, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,705 M
PAYMENTS No
Complaints CAPITAL Yen 18
M
TREND SLOW WORTH Yen
2,319 M
STARTED 1944 EMPLOYES 272
MFR OF MEDICAL EQUIMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by father of Masaru Maruyama in order to make most of his experience in the subject line of business. This is a specialized mfr of medical equipment & supplies: injection needles, operation tables & equipment. It separated electric oven operations to a subsidiary in 2013. Clients include hospitals, universities, other.
The sales volume for May/2013 fiscal term amounted to Yen 5,705 million, a 15% down from Yen 6,687 million in the previous term. This is the result of the separation of electric oven operations to a subsidiary. The recurring profit was posted at Yen 484 million and the net profit at Yen 274 million, respectively, compared with Yen 377 million recurring profit and yen 205 million net profit, respectively, a year ago.
For the current term ending May 2014 the recurring profit is projected at Yen 490 million and the net profit at Yen 290 million, respectively, on a 5% rise in turnover, to Yen 5,990 million. .
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: ` Aug 1944
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
245,360 shares
Issued:
36,340 shares
Sum: Yen 18.17 million
Major shareholders (%): Hakko Kohatsu (47), Hakko
Engineering (19), Eiichi Sakai (15)
No. of shareholders: 18
Nothing detrimental is known as
to the commercial morality of executives.
Activities: Manufactures medical equipment/supplies; injection needles, operation tables & equipment, other (90.8%), operates hotels (9.2%)
Clients: [Mfrs, wholesalers] Okayama Hakko Shoji, Nagano Hakko Shoji, Nagoya Hakko Shoji, Johnson & Johnson, SL Bearing, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Japan Sealbond, other
Payment record: No Complaints
Location: Business area in Chikuma, Nagano-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hachijuni Bank (H/O)
Mizuho Bank (Nagano)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
|
Annual
Sales |
|
5,990 |
5,705 |
6,687 |
8,064 |
|
Recur.
Profit |
|
490 |
484 |
377 |
|
|
Net Profit |
|
290 |
274 |
205 |
201 |
|
Total
Assets |
|
|
7,980 |
7,896 |
8,352 |
|
Current
Assets |
|
|
4,000 |
4,045 |
|
|
Current
Liabs |
|
|
3,329 |
3,643 |
|
|
Net
Worth |
|
|
2,319 |
2,045 |
1,840 |
|
Capital,
Paid-Up |
|
|
18 |
18 |
18 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.00 |
-14.69 |
-17.08 |
10.51 |
|
|
Current Ratio |
|
.. |
120.16 |
111.03 |
.. |
|
N.Worth Ratio |
.. |
29.06 |
25.90 |
22.03 |
|
|
R.Profit/Sales |
|
8.18 |
8.48 |
5.64 |
.. |
|
N.Profit/Sales |
4.84 |
4.80 |
3.07 |
2.49 |
|
|
Return On Equity |
.. |
11.82 |
10.02 |
10.92 |
|
Notes:
Forecast (or estimated) figures for the 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
UK Pound |
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.