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Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
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Name : |
YUTAKA ELECTRIC
MFG CO LTD |
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Registered Office : |
Nissei Gotanda Annex, 7-25-5 Nishi-Gotanda Shinagawaku Tokyo 141-0031 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April
1957 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of Electric Power Switches, UPS, DC/DC
Converters, Hybrid Equipment for Electric Power, IC Switching Regulators
& Transformers |
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No of Employees : |
126 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Prime Minister Shinzo ABE has declared the economy his
government's top priority; he has overturned his predecessor's plan to permanently
close nuclear power plants and is pursuing an economic revitalization agenda of
fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans
Pacific Partnership negotiations in 2013, a pact that would open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2013 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 is exceeding 230% of GDP. To help raise
government revenue and reduce public debt, Japan decided in 2013 to gradually
increase the consumption tax to a total of 10% by the year 2015. Japan is
making progress on ending deflation due to a weaker yen and higher energy
costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source : CIA |
YUTAKA ELECTRIC MFG CO LTD
KK Yutaka Denki
Seisakusho
Nissei Gotanda Annex,
7-25-5 Nishi-Gotanda Shinagawaku Tokyo 141-0031 JAPAN
Tel: 035436-2771 Fax: 03-5436-2784
URL: http://www.yutakadenki.jp
E-Mail address: (thru the URL)
Mfg of
power switches, UPS, DC/DC converter, power hybrid, LC switching regulator
Saitama,
Osaka
USA
Chichibu
(Saitama)
FUMIAKI
INUTSUKA, PRES Masaki Fukuda, v pres
Nobuyoshi
Tanaka, dir Hitoshi Koami,
dir
Hidemi
Bajo, dir Katsu
Harashima, dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 5,579 M
PAYMENTSNo Complaints CAPITAL Yen 800 M
TREND SLOW WORTH Yen 907 M STARTED 1957 EMPLOYES 126
MFR OF ELECTRIC EQUIPMENT & PRODUCTS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1946by father of
Fumiaki Inutsuka, on his account in order to make most of his experience in the
subject line of business. And was
incorporated in 1957. Fumiaki took the
pres office in Jun 2010. This is a
specialized mfr of switching power, UPS, DC/DC.converters, hybrid for electric
power, IC switching regulator, other.
Has an office in USA. Clients
include major electric/electronic product mfrs, other
The sales volume for Mar/2013 fiscal term amounted to Yen 5,579 million,
a 3% down from Yen 5,781 million in the previous term. $161Demand was rather sluggish and sales
declined. The recurring profit was
posted at Yen 244 million and the net profit at Yen 244 million, respectively,
compared with Yen309 million recurring profit and Yen 255 million net profit,
respectively, a year ago.
For the term that ended Mar 2014 the recurring profit was projected at
Yen 170 million and the net profit at Yen 250 million, respectively, on a 3%
rise in turnover, to Yen 5,750 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Apr 1957
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
6.4 million shares
Issued:
1.6 million shares
Sum: Yen 800 million
Major shareholders (%): No.2 Japan Industry Investment
Partnership/Japan Partners (78.6)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures electric power switches,
UPS, DC/DC converters, hybrid equipment for electric power, IC switching
regulators, transformers, other (--100%)
Clients: [Mfrs,
wholesalers] Hitachi Omron Terminal Solutions, NEC, Japan Wireless, Daiwabo
Information Systems, Omron Corp, other
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Lucky Harvest, Yutaka Electric Ind, other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption address
are leased and maintained satisfactorily.
Bank
References:
Mizuho Bank (H/O)
Mitsui Sumitomo Trust Bank (H/O)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
5,750 |
5,579 |
5,781 |
6,561 |
|
Recur.
Profit |
|
170 |
161 |
309 |
75 |
|
Net
Profit |
|
250 |
244 |
253 |
42 |
|
Total
Assets |
|
|
5,495 |
5,182 |
5,257 |
|
Current
Assets |
|
|
3,925 |
3,747 |
3,758 |
|
Current
Liabs |
|
|
3,960 |
4,017 |
4,439 |
|
Net
Worth |
|
|
907 |
662 |
399 |
|
Capital,
Paid-Up |
|
|
800 |
800 |
800 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.07 |
-3.49 |
-11.89 |
-3.90 |
|
|
Current Ratio |
.. |
99.12 |
93.28 |
84.66 |
|
|
N.Worth Ratio |
.. |
16.51 |
12.77 |
7.59 |
|
|
R.Profit/Sales |
2.96 |
2.89 |
5.35 |
1.14 |
|
|
N.Profit/Sales |
4.35 |
4.37 |
4.38 |
0.64 |
|
Notes:
Forecast (or estimated) figures for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.07 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
|
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.