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Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ENDO KOGYO CO LTD |
|
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Registered Office : |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
May, 1935 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing of machine tools |
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No. of Employees : |
199 |
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 : |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
ENDO KOGYO CO LTD
REGD NAME: Endo Kogyo KK
MAIN OFFICE:
Tel: 0256-62-5133
Fax: 0256-62-5772
URL: http://www. Endo-kogyo.co.jp
E-Mail address: info@endo-kogyo.co.jp
Mfg of machine tools
Tokyo, Osaka, Fukuoka
(Sales agents): USA, Canada, Brazil, UK, France, Germany, Hungary,
Czech, Sweden, Austria, Netherlands, Norway, China, Taiwan, Malaysia, Thailand,
Philippines, Indonesia, India, Turkey, Iran, UAE, Australia and South Africa
Koike (Tsubame)
KOROKU ENDO, PRES Eiichi
Oharu. Mgn dir
Sakae Narita dir Noriyoshi
Kato, dir
Naoto Ogo, dir Yutaka
Yamazaki, dir
In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,131 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
60 M
TREND STEADY WORTH Yen 2,178 M
STARTED 1935 EMPLOYES 199
MFR SPECIALIZING IN MACHINE TOOLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by father of Koroku Endo in order to
make most of his experience in the subject line of business. Originally started mfg tableware and copper
goods. In 1937 launched into mfg machine
tools. Mfg items range from metal sawing
machines to cable reels, others. Goods
are mostly exported. Has sales agents
worldwide. Domestic clients include
major machine tools mfrs, wholesalers, other, nationwide.
The sales volume for Mar/2013 fiscal term amounted to Yen 3,131 million,
a 2% down from Yen 3,181 million in the previous term. The recurring profit was posted at Yen 42
million and the net profit at Yen 30 million, respectively, compared with Yen
111 million recurring profit and Yen 37 million net profit, respectively, a
year ago.
For the term that ended Mar 2014 the net recurring profit was projected
at Yen 50 million and the net profit at Yen 40 million, on a 4% rise in
turnover, to Yen 3,250 million. Final
results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: May 1935
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 4.8 million shares
Issued: 1.2 million shares
Sum: Yen 60 million
Major shareholders
(%):
Koroku Endo (43), Employees’ S/Holding Assn (25), Yoko Endo (19), Taiyo
Kensetsu (10), Masaei Tano (3)
No. of
Shareholders: 23
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
machine tools & accessories (--100%).
Goods are exported to worldwide destinations, having about 25 sales
agents worldwide.
(Manufacturing
items): NC circular metal sawing machines, spring balancers, buff polishing
machines, air hoists, cable & hose reels, self locks, crashing machines,
servo-motor type cable reels, inverter-motor type cable reels, others.
Clients: [Mfrs,
wholesalers] Katsuyama Kikai, Trusco Nakayama, HRD, Naito, Tsubakimoto Kogyo,
Nagahori Shokai, Arakawa Kiko, Nichiden Corp, other.
Exports to worldwide
destinations.
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Niigata Brutus, Takahashi Diecast
Ind, Daiichi Seisakusho, Kaji Enterprise, Sagami Seisakusho, Hikari Densetsu
Kogyo, other.
Payment record: No complaints
Location: Business area in
Tsubame City, Niigata-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Hokuetsu
Bank (Tsubame)
Shoko Chukin
Bank (Niigata)
Relations:
Satisfactory
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual Sales |
|
3,250 |
3,131 |
3,181 |
2,760 |
|
Recur. Profit |
|
50 |
42 |
111 |
|
|
Net Profit |
|
40 |
30 |
37 |
23 |
|
Total Assets |
|
|
4,918 |
4,912 |
4,943 |
|
Current Assets |
|
|
2,323 |
2,345 |
|
|
Current Liabs |
|
|
1,691 |
1,779 |
|
|
Net Worth |
|
|
2,178 |
2,144 |
2,115 |
|
Capital, Paid-Up |
|
|
60 |
60 |
60 |
|
Div.Ttl in Million (¥) |
|
|
8.8 |
5.9 |
2.3 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.80 |
-1.57 |
15.25 |
10.40 |
|
|
Current Ratio |
.. |
137.37 |
131.82 |
.. |
|
|
N.Worth Ratio |
.. |
44.29 |
43.65 |
42.79 |
|
|
R.Profit/Sales |
1.54 |
1.34 |
3.49 |
.. |
|
|
N.Profit/Sales |
1.23 |
0.96 |
1.16 |
0.83 |
|
|
Return On Equity |
.. |
1.38 |
1.73 |
1.09 |
|
Notes: Forecast (or estimated) for the 31/03/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NNA |
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.