|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOTOH MFG CO LTD |
|
|
|
|
Registered Office : |
1-17 Kita-Kogyo-Danchi Kitakami Iwate-Pref 024-0002 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
July 1967 |
|
|
|
|
Com. Reg. No.: |
0107-01-020541
(Tokyo-Shinagawaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki
Kaisha) |
|
|
|
|
Line of Business : |
Mfg of lead frames for IC’s,
metal patterns |
|
|
|
|
No. of Employees : |
164 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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.
|
Source : CIA |
GOTOH MFG CO LTD
REGD NAME: KK
Gotoh Seisakusho
MAIN OFFICE: 1-17
Kita-Kogyo-Danchi Kitakami Iwate-Pref 024-0002 JAPAN
Tel:
097-66-6051 Fax: 097-66-6060
*..
Registered at: 4-7-35 Kitashinagawa Shinagawaku Tokyo
URL: http://www.group.mmc.co.jp
E-Mail
address: (thru the URL)
Mfg of
lead frames for IC’s, metal patterns
Tokyo
At the
caption address
SHIN’ICHI
NISHI, PRES
Masaru
Eitai, mgn dir
Toshikatsu
Satoh, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES Fairer A/SALES Yen 961 M*
PAYMENTS REGULAR CAPITAL Yen
310 M
TREND SLOW WORTH Yen
531 M
STARTED 1967 EMPLOYES 164
*.. 3
months figures due to change in accounting term
MFR OF SEMICONDUCTOR LEAD FRAMES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally as a
subcontracted factory of Toshiba Corp and in 2001 became a subsidiary factory
of Mitsubishi Shindoh Co Ltd (See REGISTRATION). This is a specialized mfr of lead frames for
IC’s, metal patterns, other. Clients
include electronics makers, wholesalers, other, nationwide
The sales volume for Mar/2012 fiscal term, for irregular 3
months due to the change in accounting term, amounted to Yen 961 million, a 15%
down (as adjusted on a 12-month basis) from Yen 4,509 million in the previous
term. The recurring profit was posted at
Yen 35 million and the net profit at Yen 67 million, respectively, compared
with Yen 208 million recurring profit and Yen 130 million net profit,
respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is
projected at Yen 200 million and the net profit at Yen 130 million,
respectively, on a 4% rise in turnover, to Yen 4,000 million. Final results are yet to be released.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Jul 1967
Regd No.: 0107-01-020541 (Tokyo-Shinagawaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
1.2 million shares
Issued:
310,000 shares
Sum: Yen 310 million
Major shareholders (%): Mitsubishi Shindoh Co Ltd*
(100)
*.. Mfr of copper & copper alloy products, Tokyo, founded 1925,
capital Yen 8,713 million, sales Yen 129,984 million, net profit Yen 2,917
million, employees 1,230, pres Takao Hashida
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures for semiconductor lead
frames, metal patterns, others (--100%)
Clients: [Mfrs, wholesalers] Renesas
Electronics, Sanken Electric Co, Fuji Electric Co, ST Microelectronics Ltd,
Infenion Technologies, Panasonic Semiconductor Discreet Device, Fairchild
Semiconductor, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Shindoh
Co, Taiyo Shoji Co, Okaya & Co, other
Payment record: Regular
Location:
Business area in Kitakami City, Iwate-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References:
MUFG
(H/O)
Iwate
Bank (Kitakami)
Relations:
Satisfactory
(In Million Yen)
|
Terms
Ending: |
31/03/2013 |
31/03/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
4,000 |
961 |
4,509 |
4,561 |
|
Recur.
Profit |
|
200 |
35 |
208 |
|
|
Net
Profit |
|
130 |
67 |
140 |
247 |
|
Total
Assets |
|
|
4,478 |
4,399 |
5,658 |
|
Current
Assets |
|
|
2,226 |
2,099 |
|
|
Current
Liabs |
|
|
3,734 |
3,729 |
|
|
Net
Worth |
|
|
531 |
464 |
424 |
|
Capital,
Paid-Up |
|
|
310 |
310 |
310 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth
Rate |
4.08 |
-14.77 |
-1.14 |
46.28 |
|
|
Current
Ratio |
|
.. |
59.61 |
56.29 |
.. |
|
N.Worth
Ratio |
.. |
11.86 |
10.55 |
7.49 |
|
|
R.Profit/Sales |
|
5.00 |
3.64 |
4.61 |
.. |
|
N.Profit/Sales |
3.25 |
6.97 |
3.10 |
5.42 |
|
|
Return
On Equity |
.. |
12.62 |
30.17 |
58.25 |
|
Notes: The 31/03/2012 fiscal term is for irregular 3 months
due to the change in accounting term to Apr/Mar from Jan/Dec. The growth rates are adjusted on a 12-month
basis.
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 |
|
|
>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.