|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISHIDA CO LTD |
|
|
|
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Registered Office : |
44 Sannocho-Shogoin Sakyoku Kyoto 606-8392
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October 1948 |
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Com. Reg. No.: |
1300-01-005893 (Kyoto-Sakyoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of weighing/measuring instruments |
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No. of Employees : |
1,304 |
RATING & COMMENTS
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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 |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
ISHIDA CO LTD
KK Ishida
44
Sannocho-Shogoin Sakyoku Kyoto 606-8392 JAPAN
Tel:
075-771-4141 Fax: 075-751-0747
URL: http://www.ishida.co.jp
E-Mail address: info@ishida.co.jp
Mfg of
weighing/measuring instruments
Tokyo,
Osaka, Niigata, Chiba, Yokohama, Shizuoka, other (Tot 31)
32
nationwide
Europe (8), Brazil, Argentina, Korea, China, Thailand, Philippines, Malaysia,
India,
USA (3), Canada, UAE, South Africa, other (--subsidiaries) (Tot 21)
Shiga;
UK, Korea, China, Brazil,
TAKAHIDE
ISHIDA, PRES Ryuichi Ishida, ch
Shogo
Katoh, mgn dir Yukio
Nakagawa, mgn dir
Seiichi
Ueno, mgn dir Norio
Yoshioka, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 56,109 M
PAYMENTS No Complaints CAPITAL Yen
99 M
TREND STEADY WORTH Yen
41,686 M
STARTED 1948 EMPLOYES 1,304
MFR SPECIALIZING IN WEIGHING/MEASURING EQUIPMENT.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1893 by Otokichi II Ishida, on his account. Incorporated in 1948 the firm has been succeeded by his descendants. This is a specialized mfr of weighing, packaging and measuring instruments for industrial & commercial use. Nation’s top maker of weighing and packaging equipment, with 70% market share for industrial use and 50% for commercial use. Boasts debt-free management. Active in overseas markets with 4 mfg plants in UK, Korea, China and Brazil, and sales/maintenance subsidiaries in Thailand, Malaysia, USA, Canada, India, Europe, other. In 2010 opened Vietnam Office. Clients include supermarkets, department stores, food processors, convenience stores, etc, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 56,109 million, an 8% up from Yen 51,958 million in the previous term. Demand rose in China and other S/E Asian countries. The Vietnam Office, opened in 2010, contributed to the sales growth. The recurring profit was posted at Yen 3,269 million and the net profit at Yen 2,158 million, respectively, compared with Yen 2,795 million recurring profit and Yen 1,790 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 3,300 million and the net profit at Yen 2,200 million, respectively, on a 3% rise in turnover, to Yen 58,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Oct 1948
Regd No.: 1300-01-005893 (Kyoto-Sakyoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized:
7.9 million shares
Issued:
1.99 million shares
Sum: Yen 99 million
Major shareholders (%):
Ryuichi Ishida (16.5), Takahide Ishida I (4.1), other
No. of shareholders:
57
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures weighing & packaging equipment for industrial use (56%), for commercial use (44%).
Exports: 29%
(Handling Items):
Weighing/Packaging: multihead weigher, snack food bagmaker, case packer, conveyor;
Inline Inspection: check weigher, metal detector, X-ray inspection systems, seal cheker;
Retail Systems: counter top scale printer, price computing scale, counter top label printer, automatic wrapper, scale printer for prepack, software tools for retail systems;
Food Processing: automatic wrapper, weigh price labeler, information multi scale;
Factory Automation: platform scale, information multi scale, compact scale, automatic labeler, parts packer;
Logistic Systems: weighing/cubing, other.
Clients: Supermarket chains, convenience stores, consumer coops, food processors, department stores, farm coops, other.
No. of accounts: 800
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] NEC Infrontia Corp, Fujitsu Ltd, TDK, Oriental Motor, Takebishi Electric Sales, TEC, Sanken Electric Co, other.
Payment record: No Complaints
Location: Business area in Kyoto. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Bank
of Kyoto (H/O)
SMBC
(Kyoto)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
58,000 |
56,109 |
51,958 |
49,918 |
|
Recur.
Profit |
|
3,300 |
3,269 |
2,795 |
|
|
Net
Profit |
|
2,200 |
2,158 |
1,790 |
1,627 |
|
Total
Assets |
|
|
58,825 |
56,033 |
58,691 |
|
Current
Assets |
|
|
41,888 |
37,880 |
|
|
Current
Liabs |
|
|
13,599 |
13,058 |
|
|
Net
Worth |
|
|
41,686 |
39,571 |
41,021 |
|
Capital,
Paid-Up |
|
|
99 |
99 |
99 |
|
Div.P.Share(¥) |
|
|
7.50 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.37 |
7.99 |
4.09 |
-3.40 |
|
|
Current Ratio |
|
.. |
308.02 |
290.09 |
.. |
|
N.Worth Ratio |
.. |
70.86 |
70.62 |
69.89 |
|
|
R.Profit/Sales |
|
5.69 |
5.83 |
5.38 |
.. |
|
N.Profit/Sales |
3.79 |
3.85 |
3.45 |
3.26 |
|
|
Return On Equity |
.. |
5.18 |
4.52 |
3.97 |
|
Note:
Forecast (or estimated) for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
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.