MIRA INFORM REPORT
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Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
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Name : |
HYODA INSTRUMENTS CORPORATION |
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Registered Office : |
1-6 Izumoi-Honmachi Higashi-Osaka Osaka-Pref 579-8034 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
Jul 1953 |
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Com. Reg. No.: |
1220-01-006160 (Osaka-Higashi-Osaka) |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of meal thermometers for industrial use |
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No. of Employees : |
112 |
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 : |
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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.
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Source : CIA |
COMPANY NAME & ADDRESS
HYODA INSTRUMENTS CORPORATION
REGD NAME: Hyoda
Keiki Kogyo KK
MAIN OFFICE: 1-6
Izumoi-Honmachi Higashi-Osaka Osaka-Pref 579-8034 JAPAN
Tel:
072-982-1121 Fax: 072-988-2958
*..
The is its Osaka Branch Office (International Division)
E-Mail
address: hyod@axel.ocn.ne.jp
ACTIVITIES
Mfg of
meal thermometers for industrial use, other
BRANCHES
Tokyo,
Osaka, Nagoya
FACTORIES
At the
caption address
OFFICERS
YOSHIO
HYODA, PRES Yohiko Hyoda, s/mgn
dir
Tadashi
Kuromatsu, mgn dir Tomoyuki Matsu,
mgn dir
Tadayoshi
Hamada, dir Toshihide
Yamaguchi, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,590 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 33 M
TREND UP WORTH Yen 619 M
STARTED 1953 EMPLOYES 112
COMMENT
MFR OF MEAL THERMEMETERS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Yoshio Hyoda in order
to make most of his experience in the subject line of business. This is a specialized mfr of meal
thermometers for industrial use, thermocouples, resistance temperature
detectors, other (See OPERATION). Goods are exported. Clients include electronics mfrs, heavy
machinery makers, other
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jun/2012 fiscal term amounted to Yen
1,590 million, a 5% up from Yen 1,514 million in the previous term. Exports were robust into China and other S/E
Asian countries. The net profit was
posted at Yen 69 million, compared with Yen 44 million a year ago.
For the current term ending that ended Mar 2013 the net
profit was projected at Yen 75 million, on a 7% rise in turnover, to Yen 1,700
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date
Registered: Jul
1953
Regd No.: 1220-01-006160
(Osaka-Higashi-Osaka)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 264,000 shares
Issued:
66,000 shares
Sum: Yen 33 million
Major shareholders (%): Yoshio Hyoda (47), Yohiko Hyoda
(16), Takeshi Matsuoka (0.3)
No. of shareholders: 17
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures: meal thermometer for
industrial use, thermocouples, resistance temperature detectors, protective devices
for heady industrial use, pressure gauges, protective tubes & related
equipment/devices, others (--100%)
Clients: [Mfrs, wholesalers] Toshiba Corp,
Sanyo Electric, Hitachi Ltd, Daihen Osaka Japan, Sinfonia Technology Co, Ube
Ind Co, Meidensha, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Asahi Gauge Mfg
Co, Showa Rasenkan Seisakusho Co, Showa Kiki Kogyosho, Nippon Denki Kagaku,
Kowa Ind Co, Nishino Mfg Co, Azbil Corp, other
Payment record: No
Complaints
Location:
Business area in Higashi-Osaka. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Kinki
Osaka Bank (Higashiosaka-Chuo)
Kiyo
Bank (Higashiosaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
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Annual
Sales |
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1,700 |
1,590 |
1,514 |
1,429 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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75 |
69 |
44 |
33 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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619 |
550 |
506 |
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Capital,
Paid-Up |
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33 |
33 |
33 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.92 |
5.02 |
5.95 |
-17.40 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
4.41 |
4.34 |
2.91 |
2.31 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 30/06/2013 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.55.60 |
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UK Pound |
1 |
Rs.83.98 |
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Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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.