|
Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
OHTAKE NOODLE MACHINE MFG CO LTD |
|
|
|
|
Registered Office : |
Hinode Bldg 6F, 1-59-8 Akabane Kitaku Tokyo 115-0045 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.11.2011 |
|
|
|
|
Date of Incorporation : |
February 1947 |
|
|
|
|
Com. Reg. No.: |
0115-01-000822 (Tokyo-Kitaku) |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Manufacturer of noodle production machinery |
|
|
|
|
No. of Employees : |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 (31.03.2011) |
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
OHTAKE NOODLE MACHINE MFG CO LTD
REGD NAME: KK
Ohtake Seimenki
MAIN OFFICE: Hinode
Bldg 6F, 1-59-8 Akabane Kitaku Tokyo 115-0045 JAPAN
Tel:
03-3901-1178 Fax: 03-3903-2100
*.. Registered at: 2-8-9
Akabane Kitaku Tokyo
URL: http://www.ohtake.jp
E-Mail address: (thru the URL)
Mfg of noodle
production machinery
Nil
Akabane-Minami
(Kitaku, Tokyo)
TOMOHIKO OHTAKE,
PRES Hirohiko Ohtake, ch
Kunihiko Ohtake,
adv Naoshi Kuroda, dir
Kiichi Itoh, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 1,855 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 88 M
TREND UP WORTH Yen (-) 104 M
STARTED 1947 EMPLOYES 16
MFR OF NOODLE-MAKING MACHINERY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT
SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was
established by Kunihiko Ohtake in order to make most of his experience in the
subject line of business. This is a specialized
mfr of noodle-making machinery, their attachments & accessories. The firm is fully owned by the Ohtake
family. Goods are exported. Domestic clients include noodle makers, food
makers, other.
Financials are only
partially disclosed as is the case with family-based companies..
The sales volume for Nov/2011 fiscal term
amounted to Yen 1,855 million, a 68% up from Yen 1,102 million in the previous
term. Exports boosted more than
expected, particularly into China and other S/E Asian countries, where noodles
are eaten. The recurring profit was
posted at Yen 4 million and the net profit at yen 4 million, respectively,
compared with Yen 28 million net losses a year ago.
For the term that ended
Nov 2012 the recurring profit was projected at Yen 10 million and the net
profit at Yen 10 million, respectively, on a 2% rise in turnover, to Yen 1,900
million. Final results are yet to be
released.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Feb
1947
Regd No.: 0115-01-000822 (Tokyo-Kitaku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 704,000 shares
Issued: 176,000 shares
Sum: Yen 88 million
Major
shareholders (%): Kunihiko Ohtake (80), other
No. of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
noodle production systems & equipment, their attachments and accessories
(--100%)
Clients: [Mfrs,
wholesalers] Toyo Suisan Kaisha, House Foods Corp, Ajinomoto, Acecook Co,
Nestle Group, Future Generation Co, other
Exports to China, Thailand, other S/E Asian
countries
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Ohtake Co (100%)
Payment record: Slow but correct
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
MUFG
(Akabane-Ekimae)
Resona Bank
(Itabashi)
Relations:
Satisfactory
(In Million
Yen)
|
|
|
30/11/2012 |
30/11/2011 |
30/11/2010 |
30/11/2009 |
|
Annual
Sales |
|
1,900 |
1,855 |
1,102 |
1,386 |
|
Recur.
Profit |
|
10 |
4 |
|
|
|
Net
Profit |
|
10 |
4 |
-28 |
31 |
|
Total
Assets |
|
|
1,543 |
N/A |
N/A |
|
Net
Worth |
|
|
-104 |
-103 |
-75 |
|
Capital,
Paid-Up |
|
|
88 |
88 |
88 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.43 |
68.33 |
-20.49 |
23.31 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
-6.74 |
.. |
.. |
|
|
N.Profit/Sales |
0.53 |
0.22 |
-2.54 |
2.24 |
|
Notes: Financials are
only partially disclosed.
Forecast (or
estimated) figures for the 30/11/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.