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Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
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Name : |
HOTANI CO LTD |
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Registered Office : |
1452 Todoroki Kiminocho Kaisogun Wakayama-Pref 489-5025 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
December 1973 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of industrial brush rolls, brush manufacture machines & equipment |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
HOTANI CO LTD
REGD NAME: KK
Hotani
MAIN OFFICE: 1452
Todoroki Kiminocho Kaisogun Wakayama-Pref 489-5025 JAPAN
Tel:
073-489-2375 Fax: 073-489-5025
* Osaka Branch at: Shin-Osaka Ueno Toyo Bldg 2F, 7-4-17 Nishinakajima
Yodogawaku Osaka, as given
E-mail address: info@hotani.co.jp
Mfg of industrial
brush rolls, brush mfg machines & equipment
Osaka (as given),
Yamaguchi, Chiba
Shanghai (China),
Germany
Wakayama (adjacent
to the caption address)
AKIHIKO HOTANI,
PRES Katsunori
Hanamitsu, s/mgn dir
Shuichi Seya, s/mgn dir Tomoko
Hotani, mgn dir
Kenji Otoi, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,427 M
PAYMENTSREGULAR CAPITAL Yen
40 M
TREND STEADY WORTH Yen 1,058 M
STARTED 1973 EMPLOYES 120
MFR SPECIALIZING IN INDUSTRIAL BRUSH ROLLS & BRUSH MFG MACHINES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was
established originally in 1963 by Setsuo Hotani in order to process bristles,
on his account. Incorporated in 1973,
the firm started to make industrial brushes.
Akihiko is the founder’s son.
This is a specialized mfr of industrial brush rolls, brush making
machines & equipment (See OPERATION). Established recycling system of brush rolls
in 2005. In 2006, merged with two sister
companies, Hotani Shoji Co Ltd & Hotani Kiko Ltd, to integrate and
streamline business operations. Goods
are exported. Clients include steel
makers, heavy machinery makers, other
The sales volume for
Jun/2012 fiscal term amounted to Yen 2,427 million, a 0.5% up from Yen 2,415
million in the previous term. The
recurring profit was posted at Yen 47 million and the net profit at Yen 17
million, respectively, compared with Yen 14 million recurring profit and Yen 2
million net losses, respectively, a year ago.
For the current
term ending Jun 2013 the recurring profit is projected at Yen 50 million and
the net profit at Yen 20 million, respectively, on a 3% rise in turnover, to
Yen 2,500 million.
The financial situation
is considered maintained FAIR and good for ORDINARY business engagements.
Date Registered: Dec
1973
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 81,500 shares
Sum: Yen 40.75 million
Major shareholders (%): Akihiko Hotani
(31), Shuichi Sebata (9), Jun Hanamitsu (5)
No. of shareholders: 8
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures industrial brush rolls, brush
mfg machines & equipment (--100%)
(Mfg items):
Industrial brush
rolls: brush rolls for steel & nonferrous metals, brush rolls for special
industries;
(Brush
categories): cleaning brush, high grinding brush, de-scaling brush, special
specification brush, made-to-order brushes;
Brush mfg
machines: brushing equipment, spray electrolytic cleaning equipment, roll polisher
equipment, edge polisher equipment, wringer roll equipment, C-camber correction
equipment, full automatic roll changer, edge wiper equipment, water treatment
equipment, electricity control panels, others.
Clients:
[Mfrs,
steel mills] Nippon Steel & Sumitomo Metal Corp, JFE Steel, O-Well Corp, ,
Mitsui & Co, Kawasaki Heavy Ind, Sumitomo Heavy Ind, Mitsubishi-Hitachi
Metals Machinery, Shinsho Co, Nihon Kenshi, Sumikin Bussan Matex, Hanwa Co,
Osbourne International Group (USA, England, Germany, Brazil, China), Nosas
(Spain), Posco Int’l Group (Korea), Hitachi Ltd, other.
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers:
[Mfrs,
wholesalers] Mitsubishi Engineering Plastics, Kuraray Co, Toyobo Co, Ube Ind,
Asahi Kasei Co, Pacific Rundum, Daiwa Textile, Hitachi Industrial Equipment
Systems, N-Tech Co, Sanwa Ind, Fuji Shokai Co, other.
Payment record: Regular
Location: Business area in
Wakayama. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Shoko Chukin Bank (Wakayama)
MUFG (Wakayama)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
|
Annual
Sales |
|
2,500 |
2,427 |
2,415 |
1,963 |
|
Recur.
Profit |
|
50 |
47 |
14 |
|
|
Net
Profit |
|
20 |
17 |
-2 |
1 |
|
Total
Assets |
|
|
4,279 |
4,579 |
4,862 |
|
Current
Assets |
|
|
1,490 |
1,645 |
|
|
Current
Liabs |
|
|
563 |
689 |
|
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Net
Worth |
|
|
1,058 |
1,031 |
1,035 |
|
Capital,
Paid-Up |
|
|
40 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.01 |
0.50 |
23.03 |
-37.02 |
|
|
Current Ratio |
|
.. |
264.65 |
238.75 |
.. |
|
N.Worth Ratio |
.. |
24.73 |
22.52 |
21.29 |
|
|
R.Profit/Sales |
|
2.00 |
1.94 |
0.58 |
.. |
|
N.Profit/Sales |
0.80 |
0.70 |
-0.08 |
0.05 |
|
|
Return On Equity |
.. |
1.61 |
-0.19 |
0.10 |
|
Notes: Forecast
(or estimated) for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<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.