MIRA INFORM REPORT

 

 

Report Date :

25.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SENJU METAL INDUSTRY CO LTD

 

 

Registered Office :

23 Senju-Hashidocho Adachiku Tokyo 120-8555

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

April, 1938

 

 

Com. Reg. No.:

0118-01-009092 (Tokyo-Adachiku)

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Mfg of solder & flux, soldering machines, bearing & bushing

 

 

No. of Employees :

906

 

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

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 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

 

company name

 

SENJU METAL INDUSTRY CO LTD

 

 

REGD NAME

 

Senju Kinzoku Kogyo KK

 

 

MAIN OFFICE

 

23 Senju-Hashidocho Adachiku Tokyo 120-8555 JAPAN

Tel: 03-3888-5151      Fax: 03-3888-3032

 

URL:                 http://www.senju-m.co.jp

E-Mail address: web@senju-m.co.jp

 

 

ACTIVITIES  

 

Mfg of solder & flux, soldering machines, bearing & bushing

 

 

BRANCHES   

 

Osaka, Nagoya, Akita, Hiroshima, Miyazaki, Kyoto, other (Tot15)

 

 

OVERSEAS   

 

Germany, Czech, UK, Italy, USA (4), Mexico, Brazil, Taiwan, Malaysia (2), Thailand, Philippines, Korea (2), China (9)

 

 

FACTORIES

 

At the caption address, Soka (Saitama), Tochigi, Hyogo; Taiwan

 

 

 

OFFICERS

 

EIETSU HASEGAWA, PRES     Ryoichi Suzuki, mgn dir

Yuji Kawamata, mgn dir              Isamu Sato, mgn dir

Iwao Nozawa, dir                        Hauo Haga, dir  

           

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                 A/SALES          Yen 50,887 M

PAYMENTS      REGULAR         CAPITAL           Yen 400 M

TREND             SLOW              WORTH            Yen 34,331 M

STARTED         1938                 EMPLOYES      906

 

 

COMMENT    

 

MFR OF SOLDERS, SOLDERING MACHINERY & EQUIPMENT.

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                       

 

HIGHLIGHTS

           

The subject company was established by Issaku Sato in order to make most of his experience in the subject line of business.  This is a specialized mfr of solders, soldering machinery & equipment, bearing & bushing, other.  Has 26 sales offices overseas, including 9 in China, also has a mfg factory in Taiwan.  Goods are exported.  Tops in the solder industry.  Eco-friendly equipment and products are being produced.

 

 

FINANCIAL INFORMATION

           

The sales volume for Mar/2013 fiscal term amounted to Yen 50,887 million, a 10% down from Yen 56,344 million in the previous term.  Industrial activities slowed, partially as affected by the Great North East Earthquake.  Exports decreased.  The recurring profit was posted at Yen 3,286 million and the net profit at Yen 2,515 million, respectively, compared with Yen 2,166 million recurring profit and yen 1,381 million net profit, respectively, a year ago.

 

For the current term ending Mar 2014 the recurring profit is projected at Yen 3,400 million and the net profit at Yen 2,600 million, respectively, on a 3% rise in turnover, to Yen 52,400 million.  Eco-friendly equipment and products are being faring well. 

 

The financial situation is considered FAIR and good for ORDINARY business engagements.

 

 

REGISTRATION

 

Date Registered:                      Apr 1938

Regd No.:                                             0118-01-009092 (Tokyo-Adachiku)

Legal Status:                           Limited Company (Kabushiki Kaisha)

Authorized:                              3 million shares

Issued:                                     800,000 shares

Sum:                                        Yen 400 million

Major shareholders (%):           Employees’ S/Holding Assn (35.8), Senju Sprinklers (16.4), Sato Fund (15.5)

No. of shareholders:                62

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

           

Activities: Manufactures solders & flux, soldering machinery/equipment, bearing & bushing, others (--100%)

 

(Mfg items): lead-free Eco solder & flax, solder & flax, sparkle ball, peripheral materials, soldering machine & equipment, bearing & bushing, low silver content soldering products, halogen-free/lead-free soldering products, other

 

Clients: [Mfrs, wholesalers] Intel Corp, Shinwa Co, Sato Metal Trading, Meisho Co, Mitsubishi Electric Trading Co, other

No. of accounts: 300

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Toyota Tsusho Corp, Mitsubishi Corp, Toho Zinc Co, Mitsubishi Shoji Uny Metals, Fukuda Metal Foil & Powder Co, other

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

MUFG (Asakusabashi)

Mizuho Bank (Marunouchi)

Relations: Satisfactory

 

 

FINANCES

 

 (In Million Yen)

       Terms Ending:

31/03/2014

31/03/2013

31/03/2012

31/03/2011

Annual Sales

　

52,400

50,887

56,344

53,238

Recur. Profit

　

3,400

3,286

2,166

3,377

Net Profit

　

2,600

2,515

1,381

2,240

Total Assets

　

　

46,869

48,515

48,063

Current Assets

　

　

35,295

35,941

35,963

Current Liabs

　

　

11,207

14,710

18,781

Net Worth

　

　

34,331

31,857

30,516

Capital, Paid-Up

　

　

400

400

400

Div.P.Share(¥)

　

　

10.00

10.00

10.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.97

-9.69

5.83

29.07

    Current Ratio

 

..

314.94

244.33

191.49

    N.Worth Ratio

..

73.25

65.66

63.49

    R.Profit/Sales

 

6.49

6.46

3.84

6.34

    N.Profit/Sales

4.96

4.94

2.45

4.21

    Return On Equity

..

7.33

4.33

7.34

 

Notes: Forecast (or estimated) figures for the 31/03/2014 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.99.53

Euro

1

Rs.84.82

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.