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Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
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Name : |
ABB BAILEY JAPAN LIMITED |
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Registered Office : |
511 |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
March 1972 |
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Com. Reg. No.: |
0801-01-005084 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures automatic controllers and their attachments for use in
thermal power station (plant), electric measuring instruments, others
(--100%) |
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No. of Employees : |
225 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. 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 |
ABB BAILEY JAPAN
LIMITED
ABB Nippon Bailey KK
511 Baraki Izunokuni City Shizuoka-Pref 410-2124 JAPAN
Tel: 055-949-3311
Fax: 055-949-1114
URL: http://www.abb.co.jp
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of automatic controllers, measurement
instruments, attachment
BRANCHES: Nagoya, Osaka, Fukuoka, Chiba
FACTORIES: At the caption address
OFFICERS: WOLFRAM OPITZ, PRES Kenji Watanabe, rep dir
Hiromitsu Hochi,
dir Hiroko Abe, dir
Yen Amount: In million Yen,
unless otherwise stated
FINANCES FAIR A/SALES Yen 6,521 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 192 M
TREND UP WORTH Yen
2,978 M
STARTED 1971 EMPLOYES 225
COMMENT: MFR OF AUTOMATIC CONTROLLERS FOR THERMAL
POWER STATION.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS
ENGAGEMENTS.
The subject company was originally established as Nippon Beiley KK and
was renamed as captioned in 2008. This
is a specialized mfr of automatic controllers & attachment for thermal
power station (plant), measuring instruments, other. Clients include major heavy machinery mfrs,
wholesalers, others nationwide.
FINANCIAL
INFORMATION:
The sales volume for Dec/2013 fiscal term amounted to Yen 6,521 million,
a 5% up from Yen 6,193 million in the previous term. Large-lot orders were received, also
refurbishment & repairing works were increased. The recurring profit was posted at Yen 588
million and the net profit at Yen 356 million, respectively, compared with Yen
539 million recurring profit and Yen 69 million net profit, respectively, a
year ago.
For the current term ending Dec 2014 the recurring profit is projected
at Yen 600 million and the net profit at Yen 370 million, respectively, on a 3%
rise in turnover, to Yen 6,700 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered: Mar
1971
Regd No.: 0801-01-005084
(Shizuoka-Izunokuni)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 1.5 million shares
Issued:
385,316 shares
Sum: Yen
192.658 million
Major shareholders
(%): ABB Ltd (51), Kyokuto
Boeki Kaisha (29.4), IHI Corp (19.6)
No. of
shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
Activities: Manufactures
automatic controllers and their attachments for use in thermal power station
(plant), electric measuring instruments, others (--100%)
Clients: [Mfrs,
wholesalers] Kyokuto Boeki Kaisha (95%), IHI Corp, Mitsubishi Heavy Ind,
Hitachi Ltd, other
No. of accounts: 200
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] ABB Ltd, SEI, Bellnix Co, Kyokuto Boeki Kaisha, Meidensha Corp,
Mitsui Miike Machinery, Toko Seiki Ltd, other
Payment record: No Complaints
Location: Business area in
Shizuoka. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
Mizuho (Mishima)
MUFG (Numazu)
Relations: Satisfactory
(In Million Yen)
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Terms Ending: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
31/12/2011 |
|
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Annual Sales |
|
6,700 |
6,521 |
6,193 |
6,459 |
|
Recur. Profit |
|
600 |
588 |
539 |
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Net Profit |
|
370 |
356 |
69 |
528 |
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Total Assets |
|
|
6,289 |
6,853 |
7,378 |
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Current Assets |
|
|
377 |
4,269 |
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Current Liabs |
|
|
2,614 |
3,341 |
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Net Worth |
|
|
2,978 |
2,656 |
2,851 |
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Capital, Paid-Up |
|
|
192 |
192 |
192 |
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Div.Ttl in Million (¥) |
|
|
34.6 |
264 |
175 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.74 |
5.30 |
-4.12 |
2.36 |
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Current Ratio |
|
.. |
14.42 |
127.78 |
.. |
|
N.Worth Ratio |
|
.. |
47.35 |
38.76 |
38.64 |
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R.Profit/Sales |
|
8.96 |
9.02 |
8.70 |
.. |
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N.Profit/Sales |
|
5.52 |
5.46 |
1.11 |
8.17 |
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Return On Equity |
|
.. |
11.95 |
2.60 |
18.52 |
Notes: Forecast (or estimated)
figures for the 31/12/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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 |
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-- |
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.