|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
YAMASA CORPORATION |
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|
|
|
Registered Office : |
2-10-1 Araoicho Choshi Chiba-Pref 288-0056
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|
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
November 1928 |
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|
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Com. Reg. No.: |
0400-01-052527 (Chiba-Choshi) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of soy sauce, seasonings, pharmaceutical
products |
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|
|
No. of Employees : |
830 |
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 |
|
Maximum Credit Limit : |
Yen 1,553.3 Million |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No Complaints |
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|
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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 |
|
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 |
YAMASA CORPORATION
Yamasa Shoyu KK
2-10-1 Araoicho
Choshi Chiba-Pref 288-0056 JAPAN
Tel:
04479-22-0095
E-Mail address: (thru the URL)
Mfg of
soy sauce, seasonings, pharmaceutical products
Tokyo,
Osaka, Sapporo, other (Tot9)
USA,
Thailand
At the
caption address, Narita, USA, Thailand
MICHIO
HAMAGUCHI, PRES Tetsuji Ura, mgn dir
Naoyuki
Ishibashi, mgn dir Masao Kumagai,
dir
Nozomi
Kariyasu, dir Toshitada
Noguchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 51,217 M
PAYMENTSNo
Complaints CAPITAL Yen
375 M
TREND UP WORTH Yen 29,419 M
STARTED 1928 EMPLOYES 830
MFR OF SOY SAUCE AND SEASONINGS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,553.3 MILLION, 30 DAYS NORMAL TERMS
The subject company is an old-established mfr of soy sauce dating back to 1945 and was incorporated in 1928. A specialized mfr of soy sauce, various seasonings and pharmaceutical products. Operates mfg bases in USA and Thailand. Invested Yen 1,200,000 million to build Narita factory which contribute to increased production. Clients include food makers, other
The sales volume for Dec/2012 fiscal term amounted to Yen 51,217 million, a 2% up from Yen 50,038 million in the previous term. Production at Narita factory contributed. The operations, however, plunged into the deficit to post Yen 905 recurring loss and Yen 738 million net losses, respectively, due to the hike in material costs, compared with Yen 1,739 million recurring profit and Yen 75 million net profit, respectively, a year ago.
For the current term ending Dec 2013 the recurring profit is projected at Yen 1,500 million and the net profit at Yen 1,300 million, respectively, on a 3% rise in turnover, to Yen 52,700 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,553.3 million, on 30 days normal terms.
Date Registered: Nov
1928
Regd No.: 0400-01-052527 (Chiba-Choshi)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
29.2 million shares
Issued:
7.3 million shares
Sum: Yen 375 million
Major shareholders (%): Michio Hamaguchi, Company’s
Treasury Stock, other
No. of shareholders: 49
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures soy sauce. Various seasonings, pharmaceutical products (bio grade), others (--100%)
Clients: [Mfrs, wholesalers] Mitsubishi Foods, Kato Sangyo Co, Kokubu Ltd, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Corporation, Yoshino Kogyosho, other
Payment record: No Complaints
Location: Business area in Chiba. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Mizuho
Bank (Kobunacho)
MUFG
(Yaesudori)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
Annual
Sales |
|
52,700 |
51,217 |
50,038 |
51,108 |
|
Recur.
Profit |
|
1,500 |
-905 |
1,739 |
2,907 |
|
Net
Profit |
|
1,300 |
-738 |
75 |
1,161 |
|
Total
Assets |
|
|
58,224 |
61,134 |
80,956 |
|
Current
Assets |
|
|
26,445 |
26,501 |
27,599 |
|
Current
Liabs |
|
|
18,339 |
22,567 |
20,018 |
|
Net
Worth |
|
|
29,419 |
29,865 |
30,512 |
|
Capital,
Paid-Up |
|
|
375 |
375 |
375 |
|
Div.P.Share(¥) |
|
|
|
|
|
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.90 |
2.36 |
-2.09 |
1.01 |
|
|
Current Ratio |
|
.. |
144.20 |
117.43 |
137.87 |
|
N.Worth Ratio |
.. |
50.53 |
48.85 |
37.69 |
|
|
R.Profit/Sales |
|
2.85 |
-1.77 |
3.48 |
5.69 |
|
N.Profit/Sales |
2.47 |
-1.44 |
0.15 |
2.27 |
|
|
Return On Equity |
.. |
-2.51 |
0.25 |
3.81 |
|
Notes:
Forecast (or estimated) figures for the 31/12/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.85 |
|
UK Pound |
1 |
Rs.92.31 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.