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Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PONY INDUSTRY CO LTD |
|
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Registered Office : |
3-3-27 Minamisemba Chuoku Osaka |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
April
1965 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer
of non-destructive inspection devices |
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No. of Employees : |
137 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
--- |
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 |
PONY INDUSTRY CO LTD
Pony Kogyo KK
2-3-6 Kita-Kyuhojimachi Chuoku Osaka 541-0057
JAPAN
Tel:
06-6262-2451 Fax: 06-6261-2009
*.. Registered at: 3-3-27 Minamisemba Chuoku Osaka
URL: http://www.ponyindustry.co.jp/
E-Mail address: info@ponyindustry.co.jp
Mfg of
non-destructive inspection devices
Tokyo, Chiba, Kobe, Takasago, Nagoya, Hitachi
Kumatori
(Osaka)
YASUKAZU
YOKONO, PRES Masao Hiruta, ch
Shosaku Nakata, v pres Kaoru Satomi, v pres
Tamotsu Saruwatari, mgn dir Atsushi Matsuda, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 6,675 M
PAYMENTS REGULAR CAPITAL Yen 25 M
TREND STEADY WORTH Yen
3,123 M
STARTED 1965 EMPLOYES 137
MFR SPECIALIZING IN NON-DESTRUCTIVE INSPECTION DEVICES.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established on the basis of radioactive protection division separated from Non-Destructive Inspection Co Ltd (see REGISTRATION) in order to focus on mfg non-destructive inspection systems & devices. This is a trading house, with mfg division, specializing in non-destructive testing devises and related products. Also offers inspection, installation, maintenance services. Products are applied to such industries as: semiconductor, electronics devices mfg, radioactive facilities, security control, other. In Jan 1999, obtained agency agreement from Matec Instruments Co Inc for marketing ultrasonic-related devices, and in Dec 2003 from AS & E Inc for luggage X-ray inspection devices. Known for its high quality technologies. Clients include major heavy machinery mfrs, electronics mfrs, other, nationwide.
The sales volume for Mar/2012 fiscal term amounted to Yen 6,675 million, a 22% up from Yen 5,485 million in the previous term. This is thanks to the growing demand for security and safety measures centrally from mfg & servicing industries. The recurring profit was posted at Yen 405 million and the net profit at Yen 120 million, respectively, compared with Yen 175 million recurring profit and Yen 91 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 410 million and the net profit at Yen 125 million, respectively, on a 2% rise in turnover, to Yen 6,800 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered: Apr 1965
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
200,000 shares
Issued:
50,000 shares
Sum: Yen 25 million
Major shareholders (%): Sanei Management (45),
Non-Destructive Inspection Co Ltd (36), Sanei Co (5)
No. of shareholders: 16
*.. Mfr of material inspection devices & systems, Osaka, founded 1957, capital Yen 88 million, turnover Yen 18,306 million, net profit Yen 688 million, employees 527, pres Takayuki Yamaguchi
Nothing detrimental is known as to the commercial morality of executives.
Activities: Manufactures non-destructive
inspection devices, such as radioactive testing devices, ultrasonic inspection devices, magnetic testing
devices, visual testing devices, backscatter X-ray inspection system, other
related apparatus & equipment (--100%).
Clients:
[Mfrs, wholesalers] Non-Destructive Inspection Co, Mitsubishi Heavy Ind, Hitachi Ltd, Iwatani Int’l Corp, Daiichi
Jitsugyo, Koryo Inspection & Service, Hitachi High Technologies, Daiichi Jitsugyo, other.
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Hamamatsu Photonix, Japan Radioisotope Assoc,
Musashi Co, GE Inspection Technologies, other.
Payment
record: Regular
Location:
Business area in Osaka. Office premises
at the caption address are owned by the parent, Non-Destructive Inspection Co
Ltd, and maintained satisfactorily.
Bank
References:
Resona Bank (Semba)
MUFG (Nishi-Shinsaibashi)
Relations: Satisfactory
(In
Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual Sales |
|
6,800 |
6,675 |
5,485 |
5,767 |
|
Recur. Profit |
|
410 |
405 |
175 |
|
|
Net
Profit |
|
125 |
120 |
91 |
207 |
|
Total
Assets |
|
|
5,255 |
4,818 |
4,730 |
|
Current
Assets |
|
|
4,517 |
4,125 |
|
|
Current
Liabs |
|
|
1,702 |
1,527 |
|
|
Net
Worth |
|
|
3,123 |
3,003 |
2,914 |
|
Capital,
Paid-Up |
|
|
25 |
25 |
25 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
1.87 |
21.70 |
-4.89 |
-19.29 |
|
|
Current Ratio |
|
.. |
265.39 |
270.14 |
.. |
|
N.Worth Ratio |
.. |
59.43 |
62.33 |
61.61 |
|
|
R.Profit/Sales |
|
6.03 |
6.07 |
3.19 |
.. |
|
N.Profit/Sales |
1.84 |
1.80 |
1.66 |
3.59 |
|
|
Return On Equity |
.. |
3.84 |
3.03 |
7.10 |
|
Notes:
Forecast (or estimated) figures for 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
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.