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Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
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Name : |
HITACHI METALS ADMET LTD |
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Registered Office : |
RBM Higashi Yaesu Bldg, 2-9-1 Hatchobori Chuoku Tokyo 104-0032 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
August 1949 |
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Com. Reg. No.: |
0100-01-054795 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of electronics materials, industrial equipment |
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No. of Employees : |
198 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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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
HITACHI METALS ADMET
LTD
REGD NAME: Hitachi Kinzoku Admet KK
MAIN OFFICE: RBM Higashi Yaesu Bldg, 2-9-1 Hatchobori Chuoku Tokyo 104-0032 JAPAN
Tel: 03-3555-5311 Fax: 03-3555-5243
E-Mail address: (thru the URL)
Import, export, wholesale of electronics materials, industrial equipment, other
Sendai, Atsugi, Osaka, Nagoya, Fukuoka, Ibaraki (Tot 8)
Taiwan
(Group firms)
TAKESHI ICHIHASHI, PRES Keiji Miyamura, dir
Hiroshi Tomihara, dir Takeshi Komikado, dir
Kazumi Tokuda, dir Takuji Murauchi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 60,449 M
PAYMENTS REGULAR CAPITAL Yen 350 M
TREND SLOW WORTH Yen 10,932 M
STARTED 1949 EMPLOYES 198
TRADING FIIRM SPECIALIZING IN ELECTRONICS MATERIALS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a division separated from Hitachi Ltd, as Hitachi Kinzoku Shoji (Trading) KK. In 2005 merged 3 group firms and renamed as Hitachi Metals Admit Co Ltd, as captioned. This is a trading firm specializing in import, export and wholesale of electronics & IT materials & devices, industrial equipment, magnetic materials, other. This is a leading trading house in the Hitachi Ltd Group. Expanding operations solar-cell materials, too. The Korean subsidiary, Hitachi Metals Trading Co Ltd, was closed down in July 2010. Clients include electronics makers, heavy machinery makers, other.
The sales volume for Mar/2013 fiscal term amounted to Yen 60,449 million, a 10% down from Yen 66,853 million in the previous term. Sales of special steel for automobiles decreased. Sales of magnetic materials for FA were also lackluster. The recurring profit was posted at Yen 1,554 million and the net profit at Yen 991 million, respectively, compared with Yen 1,402 million recurring profit and yen 1,570 million net profit, respectively, a year ago.
For the current term ending Mar 20143 the recurring profit is projected at Yen 1,600 million and the net profit at Yen 1,000 million, respectively, on a 5% rise in turnover, to Yen 63,500 million. Sales of special steel for automobile will surge, with business improvement of domestic customers including automakers, on back of weaker Yen.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Aug 1949
Regd No.: 0100-01-054795 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 29 million shares
Issued: 7.38 million shares
Sum: Yen 350 million
Major shareholders (%): Hitachi Metals Ltd* (100)
*.. Major mfr of high-quality special steel, subsidiary of Hitachi Ltd, Tokyo, listed Tokyo S/E, capital Yen 26,284 million, sales Yen 535,779 million, operating profit Yen 21,079 million, recurring profit Yen 21,251 million, net profit Yen 12,955 million, total assets Yen 547,814 million, net worth Yen 246,685 million, employees 17,145, pres Hiroyuki Fujii
Nothing detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales electronics & IT materials (44%), industrial equipment materials (26%), magnetic materials, others (30%)
Import/Export (27%)
(Mfg Items of the parent, Hitachi Metals Ltd)
High-Grade Metal Products & Materials (43%): molds & tool sheets, alloys for electronic products (display-related, semiconductor & other packages), industrial equipment & energy-related materials, rolls for steel, nonferrous & non-metal applications, injection molding machine parts, structural ceramic products, steel-flame joints for construction, cutting tools;
Electronics & IT Devices (26%): magnets (rare-earth magnets, ferrite magnetic materials, and applied products), components for information & telecommunications equipment (multilayered devices, isolators), IT components & materials, soft magnetic materials (soft ferrite cores & applied products, nanocrystaline magnetic materials, and applied devices, amorphous metals, and applied products);
High-Grade Functional Components & Equipment (31%): high-grade casting components for automobiles (high-grade ductile iron products, heat-resistant exhaust casting components, aluminum wheels, other aluminum components), piping & infrastructure components (pipe fittings, stainless steel & plastic piping components, water cooling equipment, precision mass flow control devices), construction components (access floor systems, structural systems, material handling systems).
Clients: [Mfrs, wholesalers] Rohm Co, Shinko Electric Ind, IHI Turbo, Hitachi Ltd, Riken Corp, IHI Corp, Mitsubishi Heavy Ind, Sumitomo Heavy Ind, Nittan Valve Co, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Hitachi Metals, Hitachi Metals Precision, Hitachi Maxell, NEO Max Materials, other
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References: MUFG (Tokyo)
SMBC (Nihombashi-Higashi)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
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Annual
Sales |
|
63,500 |
60,449 |
66,853 |
69,731 |
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Recur.
Profit |
|
1,600 |
1,554 |
1,402 |
1,638 |
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Net
Profit |
|
1,000 |
991 |
1,570 |
1,292 |
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Total
Assets |
|
|
23,815 |
25,614 |
26,729 |
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Current
Assets |
|
|
20,432 |
22,101 |
23,228 |
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Current
Liabs |
|
|
12,499 |
14,866 |
14,379 |
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Net
Worth |
|
|
10,932 |
10,384 |
11,989 |
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Capital,
Paid-Up |
|
|
350 |
350 |
350 |
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Div.P.Share(¥) |
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|
42.55 |
106.37 |
379.57 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.05 |
-9.58 |
-4.13 |
18.11 |
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Current Ratio |
|
.. |
163.47 |
148.67 |
161.54 |
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N.Worth Ratio |
.. |
45.90 |
40.54 |
44.85 |
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R.Profit/Sales |
|
2.52 |
2.57 |
2.10 |
2.35 |
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N.Profit/Sales |
1.57 |
1.64 |
2.35 |
1.85 |
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Return On Equity |
.. |
9.07 |
15.12 |
10.78 |
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Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
|
1 |
Rs.102.15 |
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Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.