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Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL CAN CORPORATION |
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Registered Office : |
Nikkyohan Bldg 8F, 1-4-25 Koraku Bunkyoku Tokyo 112-0004 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
Oct 2005 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures aluminum cans, bottles, special cans |
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No. of Employees : |
900 |
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 |
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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 |
|
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 |
UNIVERSAL CAN
CORPORATION
Universal Seikan
KK
Nikkyohan Bldg 8F,
1-4-25 Koraku Bunkyoku Tokyo 112-0004 JAPAN
Tel:
03-3868-7470 Fax: 03-3868-7467
E-Mail
address: (thru the URL)
Mfg of
aluminum cans, bottles
Osaka
Yuki,
Gunma, Fuji Oyama, Gifu, Shiga, Okayama
KEIICHI
SHIRAI, PRES Yasuo Tominaga,
mgn dir
Eiichi
Naito, dir Hiroaki
Shinpo, dir
Giichi
Yasui, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 66,826 M
PAYMENTSREGULAR CAPITAL Yen
8,000 M
TREND UP WORTH Yen 28,607 M
STARTED 2005 EMPLOYES 900
MFR OF ALUMINUM CANS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established jointly by Mitsubishi Material Corp and Hokkai Can Co
Ltd to integrate production of aluminum cans & bottles. This is a specialized mfr of aluminum cans,
bottles, special cans, other. Clients
include major beer breweries, sake breweries, other.
The sales
volume for Mar/2013 fiscal term amounted to Yen 66,826 million, a 3% up from
Yen 64,853 million in the previous term.
The recurring profit was posted at Yen 5,356 million and the net profit at
Yen 3,323 million, respectively, compared with Yen 3,139 million recurring
profit and Yen 1,602 million net profit, respectively, a year ago.
For the
current term ending Mar 2014 the recurring profit is projected at Yen 5,500
million and the net profit at Yen 3,400 million, respectively, on a 3% rise in
turnover, to Yen 68,500 million.
Business is seen expanding steadily.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Oct 2005
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 640,000 shares
Issued:
160,000 shares
Sum: Yen
8,000 million
Major shareholders
(%): Mitsubishi Material Corp* (80), Hokkai Can Co (20)
No. of shareholders: 2
*.. Largest nonferrous metal
smelter, Tokyo, founded 1950, listed Tokyo S/E, capital Yen 119,457 million,
sales Yen 1,287,251 million, operating profit Yen 52,500 million, recurring
profit Yen 74,414 million, net profit Yen 36,948 million, total assets Yen
1,811,767 million, net worth Yen 405,230 million, employees 22,181, pres
Hiroshi Yao
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures aluminum cans, bottles,
special cans, other (--100%)
Clients: [Mfrs, wholesalers] Kirin Breweries,
Sapporo Breweries, Asahi Breweries, Coca Cola G, Takara Shuzo Co, other
No. of
accounts: 300
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi
Aluminum Co, Sumitomo Light Metal Ind, Panasonic Corp, Kobe Steel Ltd,
Furukawa-Sky Aluminum Corp, other
Payment record: Regular
Location:
Business area in Tokyo. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(H/O)
Mizuho
Corporate Bank (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
68,500 |
66,826 |
64,853 |
62,858 |
|
Recur.
Profit |
|
5,500 |
5,356 |
3,139 |
1,945 |
|
Net
Profit |
|
3,400 |
3,323 |
1,602 |
1,062 |
|
Total
Assets |
|
|
59,497 |
64,853 |
56,889 |
|
Current
Assets |
|
|
25,747 |
22,347 |
22,535 |
|
Current
Liabs |
|
|
18,417 |
19,045 |
21,594 |
|
Net
Worth |
|
|
28,607 |
24,757 |
22,770 |
|
Capital,
Paid-Up |
|
|
8,000 |
8,000 |
8,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.51 |
3.04 |
3.17 |
-0.70 |
|
|
Current Ratio |
|
.. |
139.80 |
117.34 |
104.36 |
|
N.Worth Ratio |
.. |
48.08 |
38.17 |
40.03 |
|
|
R.Profit/Sales |
|
8.03 |
8.01 |
4.84 |
3.09 |
|
N.Profit/Sales |
4.96 |
4.97 |
2.47 |
1.69 |
|
|
Return On Equity |
.. |
11.62 |
6.47 |
4.66 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
UK Pound |
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.