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Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
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Name : |
ORION MACHINERY CO LTD |
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Registered Office : |
246 Kotaka Suzaka City Nagano-Pref 382-8502 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
November 1946 |
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Com. Reg. No.: |
1000-01-005488 (Nagano-Suzaka) |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufactures industrial machinery/equipment |
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No. of Employees : |
592 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. 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. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 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 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further 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 in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues 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.
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Source : CIA |
ORION MACHINERY CO LTD
REGD NAME: Orion
Kikai KK
MAIN OFFICE: 246
Kotaka Suzaka City Nagano-Pref 382-8502 JAPAN
Tel:
026-245-1263 Fax: 026-245-5358
URL: http//:www.orionkikai.co.jp
E-mail: siji@orionkikai.co.jp
Mfg of
industrial machinery, dairy equipment, other
Tokyo,
Chikuma, Nagano, Chitose
Shanghai,
Taipei, Hong Kong
Chikuma
(Nagano), Chitose (Hokkaido)
Shanghai,
Dongguan (--China), Taiwan, Korea, Hong Kong
TETSURO
OHTA, PRES Kazuo
Shimizu, s/mgn dir
Masuo
Yoshioka, mgn dir Tsugio
Kobayashi, dir
Shigemi
Yanagisawa, dir Tohru
Kaneko, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 22,760 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND UP WORTH Yen 19,087 M
STARTED 1946 EMPLOYES 592
MFR OF
INDUSTRIAL MACHINERY & DAIRY EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FORORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by father of Tetsuo Ohta in order to make most of his experience in the subject
line of business. This is a specialized
mfr of industrial machinery and dairy equipment (See OPERATION). Tops in the mfg
of dairy equipment (milking parlor).
Sales are conducted by 9 subsidiary dealerships from Hokkaido to Kyushu,
with a total 32 offices nationwide. The
firm awarded the Prize from the Japan Machinery Federation for its product heat
pump balance control air dryers. Goods
are also exported. In 2011, the firm
bought up a dairy products sales company in China. The firm plans to set up a new plant in
Thailand to make a footstep into Asean countries.
The sales volume for Mar/2012 fiscal
term amounted to Yen 22,760 million, a 7% up from Yen 21,284 million in the
previous term. Production increased in
China. Exports were robust. The recurring profit was posted at Yen 2,603
million and the net profit at Yen 1,617 million, respectively, compared with
Yen 2,245 million recurring profit and Yen 1,521 million net profit,
respectively, a year ago. .
For the current term ending Mar
2013 the recurring profit is projected at Yen2,650 million and the net profit
at Yen 1,620 million, respectively, on a 1% rise in turnover, to Yen 23,000
million.
The financial situation is
considered FAIR and good for ORDINARY business engagements.
Date Registered: Nov 1946
Regd No.: 1000-01-005488 (Nagano-Suzaka)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen 100 million
Major shareholders (%): Employees’ S/Holding Assn (39.2),
Tetsuo Ohta (22.3), Tokyo Small & Medium Business Promotion and Investment
Corp (15.7), Executives’ S/Holding Assn (6.3)
No. of shareholders: 36
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures industrial
machinery/equipment (60%), dairy equipment, other (40%)
Exports (5%)
(Mfg items): Industrial machinery & equipment:
plate heat exchangers, refrigeration equipment (chillers, dehumidifiers, food
service equipment), clean air systems (DC inverter air dryers, Digi-Eco
refrigerated air dryers, inverter air dryers, heatless air dryers, refrigerated
air dryers, air filters, vacuum pumps, jet heaters, precision temp &
humidity control systems, dairy machinery/equipment (milking parlor), other.
Clients: [Mfrs, wholesalers] Hokkaido Orion,
Nishinippon Orion, Tohoku Orion, Higashinippon Orion, Chubu Orion, Kansai
Orion, other (--subsidiary wholesalers)
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Orion Seiko Co,
Orion West Falia Surge Co, Clean Kagaku Kogyo, Rion Thermology Co, Panasonic
Corp, other
Payment record:
Regular
Location:
Business area in Suzaka City, Nagano-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
Hachijuni
Bank (Suzaka)
Shoko
Chukin Bank (Nagano)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
23,000 |
22,760 |
21,284 |
16,209 |
|
Recur.
Profit |
|
2,650 |
2,603 |
2,245 |
825 |
|
Net
Profit |
|
1,620 |
1,617 |
1,521 |
897 |
|
Total
Assets |
|
|
29,370 |
28,109 |
25,210 |
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Current
Assets |
|
|
17,399 |
18,096 |
15,522 |
|
Current
Liabs |
|
|
7,557 |
7,859 |
5,644 |
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Net
Worth |
|
|
19,087 |
17,498 |
16,604 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.P.Share(¥) |
|
|
0.00 |
10.30 |
9.40 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
1.05 |
6.93 |
31.31 |
-23.85 |
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Current Ratio |
|
.. |
230.24 |
230.26 |
275.02 |
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N.Worth Ratio |
.. |
64.99 |
62.25 |
65.86 |
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R.Profit/Sales |
|
11.52 |
11.44 |
10.55 |
5.09 |
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N.Profit/Sales |
7.04 |
7.10 |
7.15 |
5.53 |
|
|
Return On Equity |
.. |
8.47 |
8.69 |
5.40 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.