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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
KUBOTA MACHINERY TRADING CO LTD |
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Registered Office : |
1-2-47 Shikitsu-Higashi Naniwaku Osaka 556-0012 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
October, 1988 |
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Com. Reg. No.: |
0200-01-057991 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export of agricultural machinery, construction machinery,
their parts |
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No. of Employees : |
40 |
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 : |
Good |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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 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 |
KUBOTA MACHINERY
TRADING CO LTD
Kubota Machinery Trading KK
1-2-47 Shikitsu-Higashi Naniwaku Osaka 556-0012 JAPAN
Tel: 06-6648-2187 Fax:
06-6648-3535
URL: http//:www.kubota.co.jp (Of the
parent, Kubota Corp)
E-mail: info@kubota.co.jp
Import, export of agricultural machinery, construction machinery, their
parts
Nil
HIROAKI KAWAKATSU, PRES
Ichiro Wataya, dir
Tetsuro Uenohara, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 31,500 M
PAYMENTS REGULAR CAPITAL Yen
30 M
TREND UP WORTH Yen 1,083 M
STARTED 1988 EMPLOYES 40
TRADING FIRM SPECIALIZING IN FARM & CONSTRUCTION MACHINERY, WHOLLY OWNED
BY KUBOTA CORP.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS
The subject company was established on the basis of an international
trading division separated from Kubota Corp, mfr of farm machinery, at the
caption address (See REGISTRATION). This is a trading firm specializing in import
and export of farm & construction machinery/equipment, their parts &
components, manufactured by the parent company.
Exports to China, S/E Asian countries, USA, etc, through the parent’s
overseas networks. Also imports from
these countries.
The sales volume for Mar/2012 fiscal term amounted to Yen 31,500
million, a 35% up from Yen 23,346 million in the previous term. Exports were robust into China and other S/E
Asian countries. The net profit was
posted at Yen 420 million, compared with Yen 357 million a year ago. .
For the term that ended Mar 2013 the net profit was projected at Yen 450
million, on a 5% rise in turnover, to Yen 33,100 million. Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Oct
1988
Regd No.: 0200-01-057991
(Osaka-Naniwaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,400 shares
Issued: 600 shares
Sum: Yen 30 million
Major shareholders
(%):
Kubota Corp*(100)
* Largest mfr of
farm equipment & cast-iron pipes, founded 1930, listed Tokyo, Osaka, New York
S/E’s, capital Yen 84,070 million, sales Yen 1,167,628 million, operating
profit Yen 113,161 million recurring profit Yen 120,463 million, net profit Yen
73,688 million, total assets Yen 1,743,670 million, net worth Yen 810,608
million, employees 31,137, pres Yasuo Masumoto
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Imports and
exports farm & construction machinery/equipment, their parts &
components (--100%).
Clients: [Mfrs,
wholesalers] Exports to China, S/E Asian countries, USA, other
No. of accounts:
Unavailable
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs] Supplied
from Kubota Corp, the parent, for exports.
Also imports from USA, Thailand, other.
Payment record: Regular
Location: Business area in
Osaka. Office premises at the caption
address are owned by the parent, Kubota Corp, and maintained satisfactorily.
Bank References
SMBC (Osaka)
Mizuho Corporate (Osaka)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual Sales |
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33,100 |
31,500 |
23,346 |
17,988 |
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Recur. Profit |
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Net Profit |
|
450 |
420 |
357 |
304 |
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Total Assets |
|
|
9,916 |
7,015 |
5,776 |
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Current Assets |
|
|
9,894 |
6,990 |
5,745 |
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Current Liabs |
|
|
8,827 |
6,114 |
5,025 |
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Net Worth |
|
|
1,083 |
898 |
751 |
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Capital, Paid-Up |
|
|
30 |
30 |
30 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.08 |
34.93 |
29.79 |
-18.31 |
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Current Ratio |
|
.. |
112.09 |
114.33 |
114.33 |
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N.Worth Ratio |
.. |
10.92 |
12.80 |
13.00 |
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R.Profit/Sales |
|
.. |
.. |
.. |
.. |
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N.Profit/Sales |
1.36 |
1.33 |
1.53 |
1.69 |
|
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Return On Equity |
.. |
38.78 |
39.76 |
40.48 |
|
Notes: Forecast (or estimated) figures for the 31/03/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
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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 |
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---- |
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.