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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
YAMADA MANUFACTURING CO LTD |
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Registered Office : |
1-2757 Hirosawacho Kiryu City Gunma-Pref |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
February 1946 |
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Com. Reg. No.: |
0700-01-016708 (Gunma-Kiryu) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of automotive/motorcycle functional parts & components. |
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No. of Employees : |
1,517 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 1,636.2 Million |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
--- |
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 |
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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 |
YAMADA MANUFACTURING CO LTD
KK Yamada
Seisakusho
2-1296
Koubayashicho Isezaki City Gunma-Pref 379-2206 JAPAN
Tel:
0270-40-9111 Fax: 0270-40-7264
*.. Registered at: 1-2757 Hirosawacho Kiryu City Gunma-Pref
URL: http://www.yamada-s.co.jp
E-Mail address: (thru the URL)
Manufacturer
of parts & components for automobiles, motorcycles, other
Kiryu
(2), Kumamoto
China
(2), UK, USA, Thailand
Kiryu,
at the caption address; China, UK, Thailand, USA (--subsidiaries)
KAZUYA
KISHIMOTO, PRES Tadashi Ohtani, s/mgn
dir
Susumu
Yamada, mgn dir Hisashi Baba, dir
Yasufumi
Suzuki, dir Hiroshi
Yanaka, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 53,287 M
PAYMENTSREGULAR CAPITAL Yen
2,000 M
TREND UP WORTH Yen 17,069 M
STARTED 1946 EMPLOYES 1,517
MFR OF AUTOMOTIVE/MOTORCYCLE PARTS & COMPONENTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,636.2 MILLION, 30 DAYS NORMAL TERMS
This is a Honda Motor affiliated mfr of automotive/motorcycle functional parts & components. Makes oil pumps, water pumps, steering & parts, AT functional parts, other. Mfg bases are subsidiary factories in UK, Thailand, USA, and China, in addition to factories in Japan. Clients include major car makers, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 53,287 million, a 7% up from Yen 49,847 million in the previous term. Car production rose. Exports increased. The recurring profit was posted at Yen 3,143 million and the net profit at Yen 2,252 million, respectively, compared with Yen 1,789 million recurring profit and Yen 842 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 3,300 million and the net profit at Yen 2,400 million, respectively, on a 5% rise in turnover, to Yen 56,000 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,636.2 million, on 30 days normal terms.
Date Registered: Feb 1946
Regd No.: 0700-01-016708 (Gunma-Kiryu)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
2.8 million shares
Issued:
720,000 shares
Sum: Yen 2,000 million
Major shareholders (%): Honda Motor (35.5), Hiroko
Yamada (8.6), Susumu Yamada (4.3), Masahiko Yamada (3.1), Gunma Bank (2.7)
No. of shareholders: 155
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures functional parts for automobiles (90%), for motorcycles (3%), others (7%)
Export Ratio (20%)
(Mfg Items): engine oil pumps, engine water pumps, transmission oil pumps, transmission hydraulic control parts, steering columns, half shafts/drive shafts, other
Clients: [Mfrs, wholesalers] Honda Motor, Fuji Heavy Ind, Suzuki Motor, UK Trucks, Isuzu Motor, Nissan Motor, Mitsubishi Motor, Mazda Motors, other
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Honda Motor, Honda Trading, Shoda Seisakusho, Ahresty Corp, Gunma Gokin Co, other
Payment record: Regular
Location: Business area in Isezaki, Gunma-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References:
Gunma Bank (Kiryu)
MUFG (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
56,000 |
53,287 |
49,847 |
52,131 |
|
Recur.
Profit |
|
3,300 |
3,143 |
1,789 |
|
|
Net
Profit |
|
2,400 |
2,252 |
842 |
1,736 |
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Total
Assets |
|
|
40,481 |
39,070 |
37,779 |
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Current
Assets |
|
|
13,660 |
13,865 |
|
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Current
Liabs |
|
|
18,454 |
18,649 |
|
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Net
Worth |
|
|
17,069 |
14,776 |
13,999 |
|
Capital,
Paid-Up |
|
|
2,000 |
2,000 |
2,000 |
|
Div.P.Share(¥) |
|
|
0.00 |
200.00 |
200.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.09 |
6.90 |
-4.38 |
21.35 |
|
|
Current Ratio |
|
.. |
74.02 |
74.35 |
.. |
|
N.Worth Ratio |
.. |
42.17 |
37.82 |
37.05 |
|
|
R.Profit/Sales |
|
5.89 |
5.90 |
3.59 |
.. |
|
N.Profit/Sales |
4.29 |
4.23 |
1.69 |
3.33 |
|
|
Return On Equity |
.. |
13.19 |
5.70 |
12.40 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
UK Pound |
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
<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.