|
Report Date : |
26.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
YOSHINO KOGYOSHO CO LTD |
|
|
|
|
Registered Office : |
3-2-6 Ojima Kotoku Tokyo 136-0072 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.05.2012 |
|
|
|
|
Date of Incorporation : |
June, 1948 |
|
|
|
|
Com. Reg. No.: |
0106-01-006939 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Mfg of plastic containers, caps, hanger, other |
|
|
|
|
No. of Employees : |
5,800 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
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 |
YOSHINO KOGYOSHO
CO LTD
Yoshino Kogyosho KK
3-2-6 Ojima Kotoku Tokyo 136-0072 JAPAN
Tel: 03-3682-1141 Fax:
03-5609-7333
URL: http://www.yoshinokogyosho.co.jp
E-Mail address: info@yoshinokogyosho.co.jp
Mfg of plastic containers, caps, hanger, other
Nil
At the caption address, Osaka, Matsudo, Ichikawa, Gunma, other (Tot 19)
Chicago, Thailand (-- mfg plants)
SHOICHIRO YOSHINO, PRES Tamotsu
Toyota, s/mgn dir
Yasuo Yoshino, dir Makoto
Mugikura, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 204,544 M
PAYMENTS REGULAR CAPITAL Yen
432 M
TREND SLOW WORTH Yen 15,900 M
STARTED 1948 EMPLOYES 5,800
MFR OF PLASTIC PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established originally in 1935 by grand father
of Shoichiro Yoshino for making cork, on his account. Incorporated in 1948 the firm has been
succeeded by his descendants. Shoichiro
took the pres office in Dec 1997. This
is a specialized mfr of plastic containers, bottles, caps, hangers, vessels,
dusters, other. Has two overseas
factories: Chicago and Thailand.
Domestic clients include cosmetics mfrs, food processors, chemical
makers, pharmaceutical makers, other, nationwide.
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for May/2012 fiscal term amounted to Yen 204,544
million, a 0.8% up from Yen 202,862 million in the previous term. The net profit is believed posted at Yen
1,400 million, compared with Yen 1,350 million a year ago. Net profits are not precisely disclosed and
only estimated.
For the term that ended May 2013 the net profit was projected at Yen
1,450 million, on a 3% rise in turnover, to Yen 210,000 million. Final results are yet to be released.
The financial situation is considered FAIR to GOOD and good for ORDINARY
business engagements.
Date Registered: Jun
1948
Regd No.: 0106-01-006939
(Tokyo-Kotoku)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 3.4 million shares
Issued:
864,000 shares
Sum: Yen
432 million
Major shareholders
(%): Shoichiro Yoshino &
families (--100)
No. of
shareholders: 7
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
plastic & PET bottles, containers, caps, hangers, vessels, other for
application to: food, cosmetics, pharmaceutical, chemical, detergent, other
industries (--100%).
(Mfg technologies): injection
molding, direct blow molding, PET bottles, tube molding, food containers
(thermo forming molding), pump spray, cosmetic containers, other.
Clients: [Mfrs, wholesalers]
Shiseido Corp, Kose Corp, Pola Corp, P&G Max Factor, Menard Japan, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] MCT PET Resin Co, Mitsubishi Chemical Corp, Sojitz Pla-Net Corp,
Yoshino America Corp, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Mizuho Bank (Kameido)
Norin Chukin Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/05/2013 |
31/05/2012 |
31/05/2011 |
31/05/2010 |
|
Annual Sales |
|
210,000 |
204,544 |
202,862 |
204,299 |
|
Recur. Profit |
|
.. |
.. |
.. |
.. |
|
Net Profit |
|
1,450 |
1,400 |
1,350 |
1,400 |
|
Total Assets |
|
|
N/A |
N/A |
N/A |
|
Net Worth |
|
|
15,900 |
14,500 |
13,400 |
|
Capital, Paid-Up |
|
|
432 |
432 |
432 |
|
Div.P.Share(¥) |
|
|
25.00 |
25.00 |
25.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.67 |
0.83 |
-0.70 |
0.79 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.69 |
0.68 |
0.67 |
0.69 |
|
Notes: Financials are only partially disclosed. Profits are not disclosed and estimated only.
Forecast (or estimated) figures for the 31/05/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)