|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANTOKU CORPORATION |
|
|
|
|
Registered Office : |
4-14-34 Fukaekitamachi Higashinadaku Kobe
658-0013 |
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|
|
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
August 1949 |
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Com. Reg. No.: |
1400-01-001609
(Kobe-Higashinadaku) |
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Legal Form : |
Limited Company |
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|
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Line of Business : |
Manufacturer, processing of
metals, ferroalloys, chemicals |
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|
|
|
No. of Employees : |
220 |
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 : |
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 – 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 |
SANTOKU CORPORATION
KK Santoku
4-14-34
Fukaekitamachi Higashinadaku Kobe 658-0013 JAPAN
Tel:
078-431-0532
Fax: 078-431-6522
*.. The is its Tokyo Branch
Office
URL: http://www.santoku-corp.co.jp
E-Mail address: info@santoku-corp.co.jp
Mfg,
processing of metals, ferroalloys, chemicals, other
Tokyo
China,
USA
At the
caption address, Akashi, Miki (--Hyogo), Tsuruga; China
CHIKARA
OKADA, PRES Yusuke Inoue, ch
Shusaku
Hirata, mgn dir Jiro
Nakanishi, mgn dir
Masanori
Nakatsuka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 37,597 M
PAYMENTS REGULAR CAPITAL Yen
1,500 M
TREND STEADY WORTH Yen
6,217 M
STARTED 1949 EMPLOYES 220
MFG, PROCESSING OF METALS, FERROALLOYS, CHEMICALS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established by Akira Inoue originally in 1937
for mfg ferroalloys, on his account.
Incorporated in 1949 the firm has been succeeded by his
descendants. This is a specialized mfg
& processing firm specializing in metals, rare metals, ferroalloys,
chemicals, other. It has four operation
divisions: metals, magnets, batteries and chemicals. Rare earth metals are imported from China
centrally. The firm built a new factory
in Tsuruga in 2012. Clients include
metal mfg firms, chemical firms, other.
The sales volume for Mar/2012 fiscal term amounted to Yen 37,597
million, a 74% up from Yen 21,634 million in the previous term. This is attributed the sharp increase of
materials prices, including rare metals.
The newly built factory in Tsuruga also partly contributed. The recurring profit was posted at Yen 3,573
million and the net profit at Yen 2,004 million, respectively, compared with
Yen 1,892 million recurring profit and Yen 1,684 million net profit,
respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected
at Yen 3,700 million and the net profit at Yen 2,100 million, on a 4% rise in
turnover, to Yen 39,000 million. The
business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Aug 1949
Regd No.: 1400-01-001609 (Kobe-Higashinadaku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
12 million shares
Issued:
3 million shares
Sum: Yen 1,500 million
Major shareholders (%): Biko Chemical Co (49), Sojitz
Corp (37), Employees’ S/Holding Assn (11), Yusuke Inoue (10), SMBC (9)
No. of shareholders: 167
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures and
processes metals, rare metals, batteries, chemicals, recycling of metals, other
(--100%).
(Mfg, processing
items by divisions):
Metals Div: metals, ferroalloy
products, lithium, rare earth products, blocks, wires, powders, lithium foils,
other;
Magnets Div: neodymium magnet
alloys, samarium-cobalt magnet alloys, other;
Batteries Div: metal hydrate,
negative electrode coils, lithium cobalt oxide, other;
Chemicals Div: zirconium
compounds, cobalt oxide, magnet powder recycling, other.
Clients: [Mfrs, wholesalers]
Hitachi Metals, TDK, Neomax Kinki (each 20%), Samsung Japan, Hitachi Maxell,
Santoku America Inc, Biko Chemical Co, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sojitz Corp, Santoku America Inc, Biko Chemical Co, Hanwa Corp,
Alconix Corp, Osaka Asahi Co, Samwood Co, Iwatani Corp, other
Imports from China, USA, other
Payment record: Regular
Location:
Business area in Kobe. Office premises
at the caption address are owned and maintained satisfactorily.
Bank References:
SMBC
(Kobe)
Resona
Bank (Kobe)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
39,000 |
37,597 |
21,634 |
12,132 |
|
Recur.
Profit |
|
3,700 |
3,573 |
1,892 |
-746 |
|
Net
Profit |
|
2,100 |
2,004 |
1,684 |
-478 |
|
Total
Assets |
|
|
30,348 |
22,523 |
16,969 |
|
Current
Assets |
|
|
21,914 |
14,568 |
9,826 |
|
Current
Liabs |
|
|
17,996 |
14,244 |
8,155 |
|
Net
Worth |
|
|
6,217 |
4,209 |
2,530 |
|
Capital,
Paid-Up |
|
|
1,500 |
1,500 |
1,500 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.73 |
73.79 |
78.32 |
-22.99 |
|
|
Current Ratio |
|
.. |
121.77 |
102.27 |
120.49 |
|
N.Worth Ratio |
.. |
20.49 |
18.69 |
14.91 |
|
|
R.Profit/Sales |
|
9.49 |
9.50 |
8.75 |
-6.15 |
|
N.Profit/Sales |
5.38 |
5.33 |
7.78 |
-3.94 |
|
|
Return On Equity |
.. |
32.23 |
40.01 |
-18.89 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
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.