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Report Date : |
17.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIN NIPPON KOKI CO LTD |
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Registered Office : |
2-4-1 Kita-Kyuhojimachi Chuoku Osaka
541-0057 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
September 1949 |
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Com. Reg. No.: |
1200-01-077437 (Osaka-Chuoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of industrial machinery &
machine tools |
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No. of Employees : |
725 |
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
|
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 |
SHIN NIPPON KOKI CO LTD
Shin Nippon Koki
KK
2-4-1
Kita-Kyuhojimachi Chuoku Osaka 541-0057 JAPAN
Tel:
066261-3131 Fax: 06-6264-1609
URL: www.snkc.co.jp
E-mail: export@snkc.co.jp
Tokyo Branch Office:
JP Tower 8F 2-7-2
Marunouchi Chiyoda Ku Tokyo 100-7008, Japan
Mfg of
machine tools, industrial machinery, other
Tokyo,
Nagoya, Hiroshima
USA
(3), Germany (2), Thailand, China, Indonesia, Taiwan, Korea (--subsidiaries)
Shinodera,
Misaki (--Osaka)
Germany,
Thailand
HISAKAZU
YAMAGUCHI, PRES Genzo Yamaguchi, s/mgn dir
Nobutoshi Narimatsu, mgn dir Isamu Yamaguchi, dir
Hirohisa Yamaguchi, dir Toshiyuki Okuno, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 31,194 M
PAYMENTS no
complaints CAPITAL Yen 1,000 M
TREND SLOW WORTH Yen 30,554 M
STARTED 1949 EMPLOYES 725
MFR OF
MACHINE TOOLS & INDUSTRIAL MACHINERY
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established originally in 1898 by Takisaburo
Wakayama for making iron tools, on his account.
Incorporated in 1949 and expanded operations into mfg machine tools,
industrial machinery, other for supply centrally to auto & aircraft makers. Diversified into canning machines, steel mill
equipment, other. Operates mfg/sales
offices in USA, Germany, Thailand, China, other. Also operates mfg plants in Germany and
Thailand. Clients are centrally auto
makers, heavy machinery mfrs, aircraft mfrs, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 31,194
million, a 4% down from Yen 32,427 million in the previous term. Demand remained rather low. The operations came back to profitability to
post Yen 2,395 million recurring profit and Yen 1,842 million net profit,
respectively, compared with Yen 1,139 million recurring loss and Yen 1,210
million net losses, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected
at Yen 2,400 million and the net profit at Yen 1,900 million, respectively, on
a 5% rise in turnover, to Yen 32,700 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Sept 1949
Regd No.: 1200-01-077437 (Osaka-Chuoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 80 million shares
Issued: 20
million shares
Sum: Yen 1,000 million
Major shareholders (%):
Yamaguchi Kosan* (50), Daiwa Can Co** (45), MUFG (5)
* Holding Company
** Mfr of cans for food, beverages, beer, soft drinks, other, Tokyo,
founded 1950, capital Yen 2,400 million, turnover Yen 190,786 million, net
profit Yen 259 million, employees 1,489, pres Hisakazu Yamaguchi, concurrently
No. of
shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
industrial machinery (21%), machine tools (76%), others (3%).
Exports (42%).
(Mfg items):
Machine Tools: FMS/FMC systems, bridge
type multi-centers, Plano-borers, precision vertical boring & milling
machines, high speed milling machines, machine tools for aircraft parts, roll
lathes, 3-D measuring machines, laser cutting machines, various types of
machining centers, automation equipment, special-purpose machines;
Industrial
Machinery: can mfg machines, canning machines & accessories, metal printing
machines, cleaning system for various purposes, garbage disposal systems,
plastic bottle mfg systems, aseptic filling systems;
Steel Mill
Machinery & Centrifugal Cast Steel Pipes: steel mill equipment, automatic ladle
lining equipment, centrifugally cast steel pipes of various steel grades (such
as table rollers, cylinders, spools, piles, columns & oil loading pipes),
various steel fabricated parts, various types of industrial machinery &
equipment.
Clients: [Automakers,
aircraft mfrs, heavy machinery mfrs] Toyota Motor, Nissan Motors, GM, Kobe
Steel, Caterpillar, Komatsu Ltd, Mitsubishi Heavy Ind, Boeing, Daiwa Can, China
Shipbuilding Trading, Shin Nippon Koki Service, SNK America Inc, Formosa Sumco,
Nittetsu Shoji Trading, other
No. of accounts: 800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Fanuc Ltd, Tsubaki Nakashima Co, Nippon Thompson, Tokyo Keiki Inc,
Shin Nippon Koki Engineering, Kiyo Iron Works, other
Payment record: No Complaints
Location: Business area in
Osaka. Office premises at the caption
address are owned and maintained satisfactorily.
Bank
References:
MUFG (Osaka)
Mizuho Corporate Bank (Osaka)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
32,700 |
31,194 |
32,427 |
30,065 |
|
Recur.
Profit |
|
2,400 |
2,395 |
-1,139 |
-1,988 |
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Net
Profit |
|
1,900 |
1,842 |
-1,210 |
-2,553 |
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Total
Assets |
|
|
89,145 |
83,813 |
81,880 |
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Current
Assets |
|
|
45,610 |
41,295 |
43,566 |
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Current
Liabs |
|
|
37,135 |
32,405 |
31,776 |
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Net
Worth |
|
|
30,554 |
28,745 |
30,078 |
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Capital,
Paid-Up |
|
|
1,000 |
1,000 |
1,000 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
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S.Growth Rate |
4.83 |
-3.80 |
7.86 |
-1.12 |
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Current Ratio |
|
.. |
122.82 |
127.43 |
137.10 |
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N.Worth Ratio |
.. |
34.27 |
34.30 |
36.73 |
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R.Profit/Sales |
|
7.34 |
7.68 |
-3.51 |
-6.61 |
|
N.Profit/Sales |
5.81 |
5.90 |
-3.73 |
-8.49 |
|
|
Return On Equity |
.. |
6.03 |
-4.21 |
-8.49 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
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 |
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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.