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Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SATAKE CHEMICAL EQUIPMENT MFG LTD |
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Registered Office : |
2-18-8 |
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Country : |
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Financials (as on) : |
31.08.2013 |
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Date of Incorporation : |
Feb., 1938 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturer of Chemical-Related Machinery & Equipment (Mixers, Other) |
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No. of Employees : |
139 |
RATING & COMMENTS
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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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 |
SATAKE CHEMICAL EQUIPMENT MFG LTD
REGD NAME: Satake
Kagaku Kikai Kogyo KK
MAIN OFFICE: 2-18-8
Tel:
06-6992-0371 Fax: 06-6998-4947
*.. The is its
Factory in Saitama-Pref (Tokyo Factory)
URL: http://www.satake.co.jp
E-Mail address: (thru the URL)
Mfg of
chemical-related machinery & equipment (mixers, other)
Toda
(Saitama), Nagoya
China,
Korea, Taiwan
At the
caption address, Toda (as given)
MITSUTOSHI
NISHIOKA, PRES
Shigeru
Nishioka, ch Toshio
Nagashima, v pres
Tatsuo
Yamamoto, s/mgn dir Shigeo Fujieda,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 4,326 M
PAYMENTS
NO COMPLAINTS CAPITAL Yen 90 M
TREND SLOW WORTH Yen 4,302 M
STARTED 1938 EMPLOYES 139
MFR OF CHEMICAL-RELATED
MACHINERY & EQUIPMENT.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The
subject company was established originally in 1920 by Ichitaro Satake, on his account,
and was incorporated in 1938. Mitsuoka
Nishioka took the pres office in Oct 2007.
This is a specialized mfr of chemical-related machinery & equipment,
mixers as a mainline. Tops in the nation
in this line of mfg. Clients include
engineering firms, chemical makers, other.
The
sales volume for Aug/2013 fiscal term amounted to Yen 4,326 million, an 11%
down from Yen 4,879 million in the previous term. The recurring profit was posted at Yen 330
million and the net profit at Yen 236 million, respectively, compared with Yen
526 million recurring profit and Yen 287 million net profit, respectively, a
year ago.
For
the current term ending Aug 2014 the recurring profit is projected at Yen 350
million and the net profit at Yen 240 million, respectively, on a 4% rise in
turnover, to Yen 4,500 million.
The
financial situation is considered FAIR and good for ORDINARY business
engagements.
Date Registered: Feb 1938
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 7.2 million shares
Issued:
1.8 million shares
Sum: Yen
90 million
Major shareholders
(%): Shigeru Nishioka (16), Chieko Nagashima (14), International
Research Institute of Disaster Science (8), Satake Real Estate (6)
No. of shareholders: 50
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures chemical-related
machinery & equipment: mixers (89.2%), environmental testing equipment,
others (10.8%)
(Mfg Items):
Mixers: portable mixer, multi A mixer, multi S
mixer, E top mixer, D Top mixer, multi-line mixer, super mag mixer, super shear
mixer, mixing torque meter, impeller,
Environmental Testing Equipment: temperature chambers, thermal
shock test chamber, compressor calorimeter, refrigeration and air conditioning
equipment performance measuring device, prefabricated environmental test
chamber, other.
Clients: [Mfrs, wholesalers] Tsukiboshi
Machinery, Toray Engineering, Metawater Co, Kao Corp, Hitachi Plant Technology,
Sumitomo Seika Chemicals, G-Net, other
No. of
accounts: 350
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Satake Engineering
Corp, Umetoku Inc, Sumitomo Shoji Machinex Co, Daido Special Steel, Eagle
Industry Co, other
Payment record: No
Complaints
Location:
Business area in Moriguchi, Osaka-Pref.
Office premises at the caption address are owned and maintained
satisfactory.
Bank References:
Resona Bank (Akihabara)
SMBC (Kanda)
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
31/08/2014 |
31/08/2013 |
31/08/2012 |
31/08/2011 |
|
|
Annual
Sales |
|
4,500 |
4,326 |
4,879 |
3,620 |
|
Recur.
Profit |
|
350 |
330 |
526 |
|
|
Net
Profit |
|
240 |
236 |
287 |
126 |
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Total
Assets |
|
|
6,130 |
6,404 |
5,618 |
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Current
Assets |
|
|
4,708 |
4,993 |
|
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Current
Liabs |
|
|
939 |
1,418 |
|
|
Net
Worth |
|
|
4,302 |
4,088 |
3,809 |
|
Capital,
Paid-Up |
|
|
90 |
90 |
90 |
|
Div.Ttl
in Million (¥) |
|
|
22.5 |
9 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.02 |
-11.33 |
34.78 |
23.09 |
|
Current Ratio |
|
.. |
501.38 |
352.12 |
.. |
|
N.Worth Ratio |
|
.. |
70.18 |
63.84 |
67.80 |
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R.Profit/Sales |
|
7.78 |
7.63 |
10.78 |
.. |
|
N.Profit/Sales |
|
5.33 |
5.46 |
5.88 |
3.48 |
|
Return On Equity |
|
.. |
5.49 |
7.02 |
3.31 |
Notes:
Forecast (or estimated) figures for the 31/08/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.